Though reports suggest that there has been a decline in sales of residential housing in Mumbai, market observers believe that at the very high end there is a genuine consumer demand. In a recent report Liases Foras, a real estate research agency said residential sales declined 28 percent last year, while the Jones Lang LaSalle [...]
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Stating that it takes an average of 18-36 months for ‘building proposals’ to get cleared, though the actual process should normally not exceed 3-4 weeks, the Confederation of Real Estate Developers Association of India (CREDAI) flayed the government for the setback this was causing to the real estate industry during its first ever national conclave [...]
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The government expects domestic demand for finished steel (alloy + non-alloy) to almost double from its present levels of 65.6 mt level (provisional) in 2010-11 and reach 113.3 million tons (mt) by 2016-17, when the current 12th Plan comes to an end. This was stated by minister of steel Beni Prasad Verma in the Rajya [...]
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A consortium headed by Steel Authority of India (SAIL) and consisting six other Indian companies, has been declared the preferred bidder for the $11-billion Hajigak project in Afghanistan and is now in final stage of negotiations prior to signing of a contract with Ministry of Mines, Government of Afghanistan. This was stated by steel minister Beni [...]
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A two judge bench of the National Green Tribunal has suspended the environmental clearance granted to Posco’s proposed steel project in Odisha, ruling that a fresh “review and appraisal” should be done by the ministry. Justice C V Ramulu and Devendra Kumar Agarwal passed the order after pointing out that the MoU between the Orissa [...]
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Union minister for steel, Beni Prasad Verma, called a meeting of senior officials of the ministry to discuss domestic steel prices which, according to the ministry, have risen by nearly 8.5% during the current financial year despite a softening in coal prices. The meeting was also attended by chairman of the Steel Authority of India. TMT [...]
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The Haryana government has allocated Rs 1,761 crore to upgrade civic amenities and infrastructure across all cities in the state in 2012-13. This was announced by minister of state for urban local bodies Gopal Kanda, who said that the department’s budget in 2011-12 was Rs 1,017.40 crore. The minister said that the allocation of additional funds would be [...]
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Future Market Networks (FMNL), the real estate arm of Future Group, has entered into an equal joint venture with IL&FS and will spend over Rs 1,200 crore on setting up eight infra-logistics parks with up to 2 million sq ft of space in each over the next three years. The parks will be located in [...]
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Soon after it introduced a new range of construction chemicals under the ‘Home Shield’ banner, Berger Paints India Ltd has launched another innovation – a roof paint called ‘Kool & Seal’. The new product is a unique water resistant paint which when applied on the roof’s surface does not allow water to penetrate inside, thus [...]
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The board of Tata Steel has sanctioned an increased borrowing limit for the company, raising the levels from the present Rs 40,000 crore to Rs 50,000 crore. It has also sought shareholder’s approval for the same. The move comes soon after the company refinanced the Rs 25,000 crore loan it had taken for the acquisition [...]
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