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Dubai Financial Crisis will not impact India - Montek

According to the Planning Commission Deputy Chairman Montek Singh Ahluwalia's assessment, the Dubai financial crisis will not impact Indian economy. While talking to reporters on the possible impact, Mr. Ahluwalia, who was considered as the architect of the economic reforms in the country, said "My understanding is that India's exposure to Dubai World is very low... I don't think that India's high growth would be affected by Dubai crisis". However, if the crisis deepens beyond his assessment it may impact India too, he added. Another reason Mr. Mr. Ahluwalia points out "India recorded 7.9% GDP growth rate in the second quarter, much more than anticipated by analysts or think tanks" . This would perhaps help India overcome the minor hiccup even if it comes along the way. Pranab thinks we are safe According to the Finance Minister Pranab Mukherjee, the quantum of impact on India is negligible as the amount is small, the exposure of our banking sys...
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Bangalore Metro: BMRCL decides to split the project

In a major development related to  Bengaluru Namma Metro  project, the Bangalore Metro Rail Corporation Ltd., (BMRCL) on Thursday decided to split the under ground construction project into two parts. This decision was taken in view of the earlier lowest bid was more than the estimated cost of Rs. 2400 crore, this time BMRCL wanted to reduce the cost by attracting more bidders. According to BMRCL Chairman M. Ramachandran the board of directors of BMRCL, which met in New Delhi, decided to separate the Majestic-City Market stretch (North-South Corridor) of the underground section and the Majestic-Cricket Stadium (East-West Corridor) stretch in to two seperate projectcs.  The earlier tender for the separated stretch would be recalled and while fresh bids would be invited for the separated parts, however, BMRCL decided to continue the negotiations with the already short-listed lowest bidder for the Majestic-Cricket Stadium stretch. Originally, BMRCL invited bids for the ...
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India will introduce mobile number portability on Dec 31

India will introduce mobile number portability on Dec 31, a move that could further intensify the stiff competition in the world's fastest-growing wireless market and push call charges lower. Mobile Number Portability (MNP), which allows users to retain their number even if they switch operators, will be introduced in two phases, the telecoms regulator said, first in the metro cities and the so-called Category A telecom zones and in other areas by March 20. MNP helps in "increasing competition between the service providers and acts as a catalyst for the service providers to improve their quality of service," the Telecom Regulatory Authority of India (TRAI) said on its website. The regulator also notified certain charges associated with MNP and said switching charges for users must not exceed 19 rupees (U.S. 40 cents). For the TRAI order, see http://link.reuters.com/pej72g Four new firms including ventures of international telecom operators Telenor, Etisalat and Bat...
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Now over supply of residential projects see another 10 percent fall in price

In a report by CRISIL, the actual demand for residential property is 506 million sq ft but there is an estimate of 1,202 million sq ft to be built by 2009-11 and this over supply may lead to another 10% fall in home prices. Crisil report claims that due to global recession, fears of job loss and slowing growth in the... For more details: http://propertydirect.in
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NHB RESIDEX - Tracking the property prices in India

The first thing Indians would do if they have investable money is to look for a house in their hometown or a city of their choice.Unlike in developed countries India did not have a proper home price index to follow the price movements till now. The National Housing Bank(NHB), was entrusted by the Finance Ministry, Govt of India to develop... For more details: http://propertydirect.in
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MAYTAS Hill County Saga- Buyers stopped entering premises

Adding insult to injury, the victims of the scam hit Maytas Properties Limited Hill county project were prevented entering premises. Members of the Hill County Owners Association gathered at the gate as they were stopped from entering the premises on Sunday morning. Concern on further delay The association expressed... For more details: http://propertydirect.in
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Good NEWS for BRS petitioners

The division bench comprising Justice V. Eswaraiah and Justice Vilas Afzulpurkar of AP High court declared that the Building Penalization Scheme introduced by the government was not unconstitutional. The bench in its verdict said that while regularizing the deviations, the authorities cannot compromise deviations with regard to open space... For more details: http://propertydirect.in
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