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April 03, 2008

Builders protest against steep hike in steel prices | INRnews

Mumbai, India, April 03, 2008 - 'The Builders’ Association of India (BAI), an All India Association of Engineering Construction Contractors, today strongly protested against the  unprecedented rise of over 32 per cent in price of steel  in the last three months and expressed doubts about completion of time-bound projects connected with Commonwealth Games-2010 and other projects.

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March 27, 2008

Additional FSI for hospitals will bring down healthcare cost in Tamil Nadu | INRnews

Chennai, India, March 27, 2008 -  "The Government of Tamil Nadu should hike the Floor Space Index (FSI) for hospitals and healthcare institutions from the current 1.5 to 5 to bring down the rising healthcare cost, increase number of beds and healthcare talent pool of the State," urged Dr Prathap C Reddy, Chairman, CII National Committee on Healthcare & Chairman, Apollo Hospitals Group. "The relaxation in FSI will allow hospitals and institutions create more infrastructure in the same premises. They do not have to invest as much as 40-50% of the project cost in acquiring new lands. Instead they can invest directly in healthcare equipments or human resources and reduce healthcare cost," he pointed out.

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January 22, 2008

Haryana Chief Minister sees 2-3 more Gurgaons on the anvil | INRnews

Gurgaon, India, January 22, 2008 - It is indeed going to be Destination Haryana all the way during the coming years. In the next decade, Haryana envisages a target investment of US $ 50 billion which will generate employment opportunities for over 1 million people, stated Mr Bhupinder Singh Hooda, Hon'ble Chief Minister of Haryana while addressing the delegates at the National Council Meeting of the Confederation of Indian industry in Gurgaon last week.

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January 21, 2008

SEBI proposes draft regulations for REITS for public comments | INRnews

Mumbai, India, January 21, 2008 - In recent years, India's real estate business has seen significant expansion, underpinned by rapid economic growth coupled with a series of IPOs by real estate companies.  Changing demographics, rising levels of foreign investment, a vibrant services sector powered by the IT sector and buoyant exports are the major contributors for India’s rapid GDP growth. The GDP growth and corporates' growing scale of operations have led to greater demand for commercial space, including modern offices, warehouses, lodging facilities and operational infrastructure. It has also boosted housing demand. Moreover, improved access to housing finance has boosted the demand for residential property. Over the last few years, modern real estate development and some investor interest has spread beyond metros and large cities.

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Improved Financial Management of Urban Local Bodies Critical for Growth: World Bank | INRnews

New Delhi, India, January 21, 2008- A new World Bank study, the first of its kind in India titled ‘Synthesis Study of Public Financial Management and Accountability  (PFMA) in Urban Local Bodies (ULBs)’ was today jointly released by Mr. M. Ramchandran, Secretary, Ministry of Urban Development, Government of India, and Mr. Rachid Benmessaoud, Operations Advisor, the World Bank, India.

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January 12, 2008

NATCON 2008 emphasises need for affordable housing | INRnews

New Delhi, India, January 12, 2008 - Shri Kamal Nath, Hon’ble Minister of Commerce & Industry and Kumari Selja - Hon’ble Minister of State, (IC), Housing and Poverty Alleviation today emphasized the need for affordable housing, while addressing Natcon 2008, CREDAI’s 7th National real estate convention. The first day of this three-day convention at Hotel Ashok, New Delhi, saw participation of more than 800 delegates from Government, Real Estate and Housing Finance Institutions. Panel discussions and debates were primarily focused on Policies & Regulatory Environment, Real Estate Indices and Developer Rating. The convention is being actively supported by the Ministry of Urban Development Government of India & Ministry of Housing and Urban Poverty Alleviation Government of India.

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January 10, 2008

EOU/SEZ sector accelerates economic growth: Minister | INRnews

New Delhi, India, January 10, 2008 - Shri Kamal Nath, Minister for Commerce and Industry, has stated that the EOU/SEZ Sector is playing a very important role in encouraging manufacturing activity, providing substantial employment opportunities, thereby accelerating the pace of economic growth. The units set up under these schemes are already providing direct employment to over 6.5 lakh people. He was speaking at the Export Awards function, organised by the Export Promotion Council for EOUs and SEZ Units (EPCES), here last evening. Shri R. Gopalan, Additional Secretary, Department of Commerce; Shri R.S. Gujral, Director General of Foreign Trade (DGFT); Shri T. Vasu, Chairman, EPCES and Shri L.B. Singhal, Director General of EPCES, apart from Development Commissioners of various EPZs and SEZs were present on the occasion.

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January 07, 2008

40 Mln. Low-Cost Houses & 500 Health Centres Needed For Urban Poor | INRnews

New Delhi, India, January 07, 2008 - Over 40 million low-cost dwelling units and additional 500 urban health and family welfare centers are needed to be put up to provide basic housing and health facilities to about 190 million Urban Poor, which still slog to obtain these facilities at times when a significant part of Urban India is spending between   Rs.30 to Rs.40 lakhs for per dwelling unit, according to findings of The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

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December 20, 2007

Civic facilities for the urban poor | INRnews

New Delhi, India, December 20, 2007 - Based on National Sample Survey 61st Round data, the Planning Commission has brought out the figures of number of people living below poverty line in the urban areas. The Planning Commission has used two methods - Uniform Recall Period method and Mixed Recall Period method. According to Uniform Recall Period method, the estimated number of urban resident below poverty line is 8.08 million. According to Mixed Recall Period method, the estimate is 6.82 million in 2004-05.

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December 18, 2007

Ministry of Housing and Urban Poverty Alleviation year-end review | INRnews

New Delhi, India, December 18, 2007 - The year 2007 witnessed several initiatives by the Ministry of Housing & Urban Poverty Alleviation such as unveiling of new National Urban Housing & Habitat Policy, restructuring the Scheme of Swarna Jayanti Shahari Rozgar Yojana (SJSRY), Skills Training for Employment and Promotion amongst the Urban Poor (STEPUP), Interest Subsidy Scheme of Housing for the Urban Poor, Integrated Low Cost Sanitation Scheme and Urban Statistics for HR and Assessments (USHA). The Ministry has also progressed well in the implementation of Jawaharlal Nehru National Urban Renewal Mission (JNNRUM). Kumari Selja, Minister of State (Independent Charge) for Housing & Urban Poverty Alleviation has said while giving a overview of the performance of the Ministry that considering the urban poverty issues becoming critical, the Ministry enhanced its budget for urban poverty alleviation by 40% during 2006-07.

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AP has the best policies for developing SEZ : Dr. Geeta Reddy | INRnews

Hyderabad, India, December 18, 2007 - Confederation of Indian Industry, Andhra Pradesh along with Andhra Pradesh Industrial Infrastructure Corporation (APIIC) organised a one day conference – The SEZ Forum 2007 focusing on the various issues pertaining to the impact of SEZs in economic development.

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Map region will be a counter magnet to migration to chennai | INRnews

Chennai, India, December 18, 2007 - “The development of towns and cities around Chennai, as envisaged by the Marakkanam, Arakkonam and Pulicat (MAP) Chennai Region, would strengthen the urban phenomenon in Tamil Nadu and absorb the shock of migration to Chennai. The MAP Chennai region would act as a counter magnet to the wave of migration to the metropolitan area, in the same way the National Capital Region comprising cities such as Gurgaon and Noida reduced the net rate of migration to Delhi,” said Mr S Jaipal Reddy, Minister for Urban Development, Government of India. He announced that the Central Government would soon give its nod to the Chennai Metro Rail project and help the State Government introduce Bus Rapid Transport System in Chennai and the tier II cities of Coimbatore, Trichy and Madurai.

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December 15, 2007

CII INFRA 2007 to propose 'MAP' region for development in Tamil Nadu | INRnews

Chennai, India, December 15, 2007 - Confederation of Indian Industry (CII), Tamil Nadu State Council is all set to propose the development of 'MAP' region (comprising Marakkanam, Arakkonam, and Pulicat) to build a strong Greater Chennai Region for balanced and inclusive regional development in Tamil Nadu.

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December 13, 2007

PPP must for the success of MRTS | INRnews

New Delhi, India, December 13, 2007 - Mass Rapid Transport System needs effective public private partnerships to modernize intra-city mobility, said Mr Gajendra Haldea, Advisor, Infrastructure, Planning Commission.

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December 07, 2007

Housing policy sets goal of affordable housing for all | INRnews

New Delhi, India, December 07, 2007 - The National Urban  Housing & Habitat Policy 2007 seeks  to promote  various types of public-private partnerships for realizing the goal of “ Affordable Housing For All’  with special emphasis on the urban poor. This was stated by  Kumari Selja  the Minister of State for Housing & Urban Poverty Alleviation, while briefing the media persons,  after tabling the Policy in  both houses of the Parliament  here today. The Minister said that the new Policy has been formulated keeping in view   the   changing   socio-economic parameters  of the urban area and growing requirement of shelter and   related  infrastructure.

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Energy Sector requires $500 billion worth of investment during the 11th five year plan period | INRnews

Ahmedabad, India, December 07, 2007 - The Indian power sector group companies have achieved 154 percent growth in market capitalization indicating phenomenal amount of investor's confidence said Chief Guest, Mr R V Shahi, Former Secretary, Ministry of Power, Government of India, while addressing at India Energy Conclave 2007, organized  concurrent with  3 day long 3rd International Exhibition – "Energy Expo 2007"  by CII in Ahmedabad

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December 06, 2007

Technical group on estimation of urban housing shortage |INRnews

New Delhi, India, December 06, 2007 - A Technical Group on Estimation of Urban Housing Shortage was constituted by the Central Government. The Group estimated a housing shortage of 24.71 million dwelling units at the end of the Tenth Five Year Plan. The Technical Group has estimated the total Housing shortage during the entire 11th Five Year Plan as 26.53 million dwelling units. This information was given by the Minister of State for Housing & Urban Poverty Alleviation, Kumari Selja in the Rajya Sabha today, in a written reply to a question by Smt. Supriya Sule.

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December 04, 2007

India will rein in runaway cement prices: minister | INRnews

New Delhi, India, December 04, 2007 - The government will not allow cartelisation of cement prices and will take necessary measures to control them, Minister of State for Industries Ashwani Kumar said Tuesday.

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Government to open 2,50,000 vocational schools in next 5 years | INRnews

New Delhi, India, December 04, 2007 - 2,50,000 vocational schools will be opened in India in next five years in Public – Private – Partnership (PPP), where corporate sector will play a major role, said Mr. N. K. Singh, Deputy Chairman, Planning Commission, Government of Bihar at the India Economic Summit 2007, organised jointly by the Confederation of Indian Industry (CII) and the World Economic Forum (WEF), here on Tuesday. He further said that the initiative will be a significant measure to take advantage of the demographic dividend of India and develop quality manpower for the global requirement.

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Policies to attract investment in infrastructure are in place | INRnews

New Delhi, India, December 04, 2007 | Speaking at a session on 10% Growth: The Infrastructure Picture at the India Economic Summit on Tuesday, Mr. Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, India said now that the policies to attract private sector investment in infrastructure are in place, the scale of activity needs to increase.

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December 03, 2007

SEZs have been a success: G K Pillai | INRnews

New Delhi, India, December 03, 2007 - Describing the success of the SEZs in India, Mr Gopal Krishna Pillai, Secretary of Commerce, Ministry of Commerce and Industry, India said that the response from Indian SEZs has been tremendous. The Government has already formally approved 404 SEZs, of which 172 have been notified. About 60 of these have already generated direct employment of about 52,000 and indirect employment of 1,00,000. With growth likely to be exponential, these numbers could shoot up to 150,000 by March 2008 and to 600,000 by the end of 2009. He also expected the foreign direct investment in SEZs to increase 3-4 fold within the next year. He added that from the government’s perspective, SEZs have been a success.

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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 23, 2007

India needs $475 bn infrastructure investment in five years to support growth | INRnews

New Delhi, India, November 23, 2007 - India needs an investment of $ 475 billion in infrastructure in the next five years to support 9% growth of which $120 – 130 billion of the investment requirement would come from foreign investment, said Mr. P Chidambaram, Union Minister of Finance, at  an interactive session with Mr. Arni Mathiesen, Minister of Finance, Iceland, organised by the Confederation of Indian Industry (CII), here on Friday.

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November 22, 2007

Assocham to hold conference on urban land markets & finances reforms | INRnews

New Delhi, India, November 22, 2007 - ASSOCHAM is organizing a one day conference on the theme “Urban Land Markets & Finances : The Legal, Financial & Procedural Reforms” on 28th November, 2007 at Hotel Intercontinental The Grand, New Delhi.  28th November 2007, Intercontinental The Grand, Barakhamba Avenue, New Delhi

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November 20, 2007

ADB helping India promote PPP in infrastructure | INRnews

Mumbai, India, November 20, 2007 - The Asian Development Bank (ADB) is providing a $2 million grant to help the government of India increase cooperation between the public and private sectors in infrastructure development.

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November 14, 2007

Kamal Nath stresses public-private partnership for healthcare infrastructure | INRnews

New Delhi, India, November 14, 2007 - Shri Kamal Nath, Union Minister of Commerce & Industry, has stressed on developing new infrastructure for the healthcare sector in view of the tremendous opportunities that are available for public-private partnership. Speaking at the 4th India Health Summit “Healthcare Engagement: Strategies and partnerships” here today, the Minister said: “Large windows of opportunities are opening up. To give just one example, Indian medical tourism was estimated at $350 million in 2006 and this has the potential to grow into a $2 billion industry by 2012”.

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November 13, 2007

IT SMEs seek tax benefits on office space rentals | INRnews

Chennai, India, November 13, 2007 - The government needs to set up IT parks for small and medium enterprises (SMEs) with nominal occupation charges and permit co-ownership of space at special economic zones (SEZs).  This was stated by Mr Raghunathan, President, IT-SME Association at a pre-budget discussion hosted by FICCI.

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Latest developments and policy initiatives in Civil Aviation in India | INRnews

New Delhi, India, November 13, 2007 - This article summarises the latest developments and policy initiatives in Civil Aviation in India including policies and plans on new airports.

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Mumbai office space rentals rise in submarkets | INRnews

Mumbai, India, November 13, 2007 - Rentals for office space in submarkets of Mumbai such as Worlid, Prabhadevi, Goregaon and Navi Mumbai jumped by 10%-20% in Q3 2007. As compared to this, rental and capital values in the CBD remained stable.

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