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March 31, 2008

M&M signs MoU with Govt of Maharashtra to invest Rs 1500cr in greenfield project | INRnews

Mumbai, India, March 31, 2008 - Mahindra & Mahindra, the leading Indian multinational, reputed for its association with the Indian automotive industry for 62 years, today signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to further boost their investment at its upcoming Chakan Greenfield project.

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Tata Motors signs MoU with Govt of Maharashtra for Pune expansion | INRnews

Pune, India, March 31, 2008 - Tata Motors and the Government of Maharashtra today announced the signing of a Memorandum of Understanding (MoU) which will facilitate the proposed expansion of manufacturing plants and setting up vehicle testing facilities in Pune.

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February 14, 2008

Home Solutions launches its first ‘Value’ home making retail concept in Aurangabad | INRnews

Aurangabad, India, February 14, 2008 -  Home Solutions Retail (India) Ltd., a part of the Future Group, today, announced the launch of a brand new retail format in the Home Segment called ‘Home Bazaar’, - a satellite version of its national home making and improvement retail brand Home Town. The first of its store was inaugurated in Aurangabad’s M Square Mall, Jalna Road here today.

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January 22, 2008

Farmers to set up own SEZ near Pune | INRnews

Pune, India, January 22, 2008 -  Farmers in a village near Pune, Avasari Khurd, have been given an in-principle approval from the State Government to set up an SEZ. Farmers decided to take this step to unlock the value of nearly 3,500 acres of barren land said to be worth Rs. 900 crores.

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January 21, 2008

BOA of SEZs grants 11 formal and 1 in-principle approvals | INRnews

New Delhi, India, January 21, 2008 - The Board of Approval of the Special Economic Zones (SEZs) met here today to consider proposals for setting up of Special Economic Zones and also approve other miscellaneous requests pertaining to SEZs.  In this meeting, 19 proposals for setting up SEZs, including 2 proposals for conversion of in-principle approvals to formal approvals were considered.  The Board recommended grant of 11 Formal approvals (including 2 requests for conversion of In-Principle Approvals to Formal Approvals) and 1 In-principle approval of a Multiproduct SEZ by Reliance Haryana SEZ Limited in Jhajjar District, Haryana.

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Union Cabinet approves transfer of Nagpur Airport to JV for upgradation to world class hub | INRnews

New Delhi, India, January 21, 2008 - The Union Cabinet has given its ‘in-principle’ approval for transfer of Dr. Ambedkar International Airport, Nagpur to the Joint Venture Company comprising AAI and Maharashtra Airport Development Company Ltd. For upgradation of the airport to a world class Multi Modal International Passenger and Cargo Hub (MIHAN).  The Union Cabinet also gave its approval to invest an amount of Rs. 4.90 crore by AAI in the equity of the Joint Venture Company.

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January 10, 2008

Bharati Shipyard to build Green Field Shipyard in Dabhol | INRnews

Mumbai, India, January 10, 2008 - Bharati Shipyard Limited, one of the leading Private Sector Shipyard, today announced its plan to construct a Green Field modern shipyard at Usgaon near the Dabhol port in Ratnagiri district.

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January 08, 2008

Parsvnath Developers awarded 90 crore contract to build SAI ASHRAM at SHIRDI | INRnews

Shirdi, India, January 08, 2008 - Parsvnath Developers Ltd has announced that the Company has been awarded the construction contract of Sai Ashram at Shirdi in Maharashtra. The work has been awarded by Shirdi Sai Trust, Chennai, and the managing, trustee being Mr. K V Ramani.

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January 03, 2008

Parsvnath Developers to set up Pharma SEZ in Nanded, Maharashtra | INRnews

New Delhi, India, January 03, 2007 Parsvnath Developers Ltd has announced that in pursuance to development of SEZs, Parsvnath SEZ Ltd (PSL), a subsidiary of the Company, will develop a Pharmaceutical Special Economic Zone (SEZ) at Nanded in Maharashtra. The Company has received LoI from Maharashtra Industrial Development Corporation (MIDC), a Maharashtra Govt. Undertaking for development of Pharma SEZ project in krushnoor Industrial Area of Nanded which is in close proximity to the SH-6 connecting Nanded and Secunderabad.

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Real Estate Destinations 2008 - The show goes on | INRnews

Mumbai, India, January 03, 2008 - Anuj Puri, Chairman & Country Head, Jones Lang Lasalle Meghraj, looks at the year 2008 for Indian real estate.

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December 21, 2007

Pantaloon Retail Announces Launch of Big Bazaar in Ahmednagar | INRnews

Ahmednagar, December 21, 2007:  Pantaloon Retail (India) Limited, part of the Future Group, today announced the launch of its flagship hypermarket format - Big Bazaar – in Ahmednagar.  With today’s launch, the company has further enhanced its reach to the masses in Maharashtra, with Ahmednagar Big Bazaar being the 18th store in the State, while overall tally goes upto 76 Big Bazaar stores in the country.

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December 13, 2007

‘HomeTown’ – home making store from the Future Group, comes to Pune | INRnews

Pune, India, December 13, 2007 - Home Solutions Retail (India) Ltd., a part of the Future Group, today, announced the launch of ‘HomeTown’, India’s most comprehensive home making/ home improvement store, at ‘Ishanya’, Arcade 1, Shastri nagar, Yerawada, Pune. ‘Ishanya’, an architectural wonder in itself, is a retail destination completely focused on home making and design. Spread over an area of about 1,50,000 sq.ft., HomeTown will provide consumers with all that goes into building a house and everything to make it a ‘Home’. HomeTown offers consumers largest choice and variety under one roof and a specialized team of experts to set it all up for them at their homes. In addition to retailing home improvement products, HomeTown will also provide services like electrical, plumbing, interior decoration, painting, etc. HomeTown will also have counters by Future Money, where consumers can avail of fast & easy finance on their purchases at HomeTown.

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December 05, 2007

Ishaan Real Estate PLC half year report | INRnews

Mumbai, India, December 05, 2007 - Ishaan Real Estate plc has released an interim report for the six months ended 30 September 2007. The key highlight is completion of 100% of investment in the initial portfolio with £133.2 million invested in eight projects across Mumbai, Hyderabad, Pune and Bangalore.

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November 30, 2007

JLLM head on Maharashtra's scrapping of the Urban Land Ceiling Act | INRnews

Mumbai, India, November 30, 2007 - The Central Government had not considered states like Maharashtra and Andhra Pradesh when it repealed the ULCRA in other states like Gujarat, Karnataka and Punjab. It had its reasons, but it became evident that the ULCRA rendered valuable land useless for all practical purposes. In India, land constitutes approximately 50% of the price of real estate.

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November 20, 2007

Gulf Finance House to invest over US$ 2 billion in Mumbai | INRnews

Mumbai, India, November 20, 2007 - Bahrain-based Gulf Finance House (GFH) is investing over US$ 2 billion in a green field site close to Navi Mumbai, near to the commercial capital's airport. GFH has already raised US$ 630 million towards the initial development and infrastructure requirements of the project.

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Twilight Litaka mulls plans for land in Pune district | INRnews

Mumbai, India, November 20, 2007 - Twilight Litaka Pharma Ltd has announced that the Company is frequently receiving questions regarding sale of its land at Vadgaon Maval. The Company therefore feel the necessity to clarify this issue to its Shareholders and prospective investors.

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November 19, 2007

Deutsche Bank Urban Age Award given to 2 Mumbai city projects | INRnews

Mumbai, India, November 19, 2007 - Dr. Josef Ackermann, CEO of Deutsche Bank is pleased to announce the winners of the first Deutsche Bank Urban Age Award (DBUA) in the presence of the German Chancellor, Dr. Angela Merkel and SM Krishna, Governor of Maharashtra. The announcement follows a unanimous decision by an international jury. The award of $100,000 will be split between two high level projects: the Triratana Prerana Mandal initiative and the Mumbai Waterfronts Development Centre, with a special Commendation for the Urban Design Research Institute’s Fort Management Project.

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Dow India establishing Global R&D Centre in Chakan, Pune | INRnews

Pune, India, November 19, 2007 - Dow India has signed an MOU with the Government of Maharashtra to set up a Global R&D centre at Chakan, Pune.The Centre is expected to be operational by 2008 and will employ 500 researchers by 2010.  Initial project related activities are underway on the 100 acre land allotted to the Company by MIDC and more than 125 researchers are already employed and providing their talented skills and capabilities, operating in a rented facility.

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October 25, 2007

Akruti Nirman enters the Pune real estate market | INRnews

Pune, India, October 25, 2007 - Akruti Nirman Ltd, a leading real estate developer, has announced that the Company has entered Pune. To cater to the rapidly evolving needs of Pune denizens, Akruti City Ltd will build international quality residential & commercial complexes, hotels, and IT parks in the city.

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October 19, 2007

BOA of SEZ grants 10 formal and 3 in-principle approvals | INRnews

New Delhi, India, October 19, 2007 - The Board of Approval of the Special Economic Zones (SEZs) has recommended grant of 10 formal and 3 in-principle approvals here today.   The Chairman of the Board, while informing the members stated that including the latest SEZ approvals a total of 395 SEZs formal approvals have been granted. He further informed that out of these, 156 SEZs have been notified and investment of Rs.50,906 crore has taken place  in these notified SEZs providing direct employment to over 72168 persons.

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September 21, 2007

Developers promote walk-to-work in Hinjewadi, Pune | INRnews

Pune, India, September 21, 2007 - Hinjewadi, the fast developing IT-hub of Pune, is to get commercial-cum-residential developments that promote the walk-to-work concept.

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Pimpri Chinchwad residents residents to get new link road | INRnews

Pune, India, September 21, 2007 - The Maharashtra State Road Development Corporation (MSRDC) is to build a bridge on Pavana river at Ravet linking the Pimpri-Chinchwad township and the Pune-Mumbai expressway. The bridge will link Ravet to Punawale village in the township.

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September 18, 2007

NHAI signs concession agreement for four laning of Chattisgarh - Maharashtra border section of NH6 | INRnews

New Delhi, India, September 18, 2007 - The National Highways Authority of India (NHAI) has signed the Concession Agreement for four laning of Chattisgarh / Maharashtra Border –Wainganga Bridge Section of NH – 6 from Km 405.000 to km 485.000 in the State of Maharashtra on Build, Operate and Transfer (BOT) basis under National Highways Development Project (NHDP) Phase III at a total project cost of Rs. 424 Crore.

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September 13, 2007

Mantri Realty to invest Rs 100 crore in Kolhapur real estate development | INRnews

Kolhapur, India, September 13, 2007 - Real estate developer Mantri Realty is to set up the first IT Park in Kolhapur at a cost of Rs 20 crore. In addition the firm plans to invest a further Rs 80 crore to set up a 3-5 lakh sq ft mall and a 100-acre residential complex in Kolhapur.

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August 23, 2007

Spencer’s to expand retail stores across Western region | INRnews

Mumbai, India, August 23, 2007 - The re-launch of Spencer’s Hyper at Inorbit Mall, Malad in June ’07 has been a phenomenal success. The re-designed store layout and the introduction of newer categories has increased traffic size to a whopping 2 lacs per month thus making it the most widely visited Spencer’s store across the country. Inspired by this success, Spencer’s has laid down strategic plans to expand its footprint across the Western region including Mumbai, Pune, Aurangabad and Ahmedabad. It also plans to foray into Vadodara and Nashik thereby increasing the overall trading area by an additional 1.2 lac sq feet within the next three months.

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August 21, 2007

DLF unveils its first IT SEZ in Mihan, Nagpur | INRnews

Nagpur, India, August 21, 2007 - DLF Ltd has announced the launch of its first IT SEZ at Nagpur. DLF is developing state of the art, world-class facilities in Nagpur, Maharashtra on 140 acres of land. This is the second IT SEZ project in the state and will be followed by projects in other cities in Maharashtra.

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August 17, 2007

Indiabulls Real Estate plans projects across India | INRnews

Mumbai, India, August 17, 2007 - Indiabulls Real Estate Limited (IREL) with projects covering a total land area in excess of 10000 acres is one of the largest listed real estate companies in India and a leading national player across multiple realty and infrastructure sectors. IREL projects include High-end Office and Commercial Spaces, Premium Residential Developments, Integrated Townships, Luxury Resorts and Special Economic Zones. INRnews summarises the various projects Indiabulls Real Estate is undertaking.

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August 10, 2007

Infosys IT SEZ amongst 6 approvals granted | INRnews

New Delhi, India, August 10, 2007 - The Board of Approval of the Special Economic Zones (SEZs) met on August 8 to consider proposals for setting up of Special Economic Zones and also approve other miscellaneous requests pertaining to SEZs.  In this meeting, 8 applications for setting up SEZs, including 3 proposals for conversion of in-principle approvals to formal approvals were considered.  The Board recommended grant of 4 Formal approvals, including two IT/ITES SEZ by Infosys, and 2 In-principle approvals.

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August 09, 2007

Haier launches first refrigerator & R&D facility in India | INRnews

Pune, India, August 09, 2007 - Haier, the largest manufacturer of refrigerators worldwide*, today announced the launch of its first manufacturing facility in India as part of the company's plans to expand operations in the country. The new manufacturing facility is located at Ranjangoan in Pune district of Maharashtra.

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July 24, 2007

Maharashtra government tables draft housing policy | INRnews

Mumbai, India, July 24, 2007 - The Maharashtra Government has tabled a draft housing policy in the Legislative Assembly yesterday. Significant policy measures proposed include encouraging private investment in the housing sector, facilitating township development on the peripheries of cities, raising FSI limits, ensuring sale of apartments is on carpet-area basis only, allowing non-agriculturists to buy land, and no ceiling limits for holding land. Continue reading this article to view the full draft of the housing policy.

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