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HYDERABAD: The Hyderabad district administration on Wednesday resumed 3.31 acres of prime government land in Jubilee Hills allotted to Anand Cine Services, an outdoor film unit, as the management failed to utilise it for the purpose it was assigned. The resumed land could be worth nearly Rs 100 crore. According to revenue records, the Hyderabad district administration had allotted five-acre government land (survey No. 403) on Road No.76, Jubilee Hills in Shaikpet mandal in 2001 for putting up cinema settings and parking area. The state government had set up the Andhra Pradesh Land Management Authority (APLMA) last year and asked all district collectors to identify parcels of government land allotted […]

Telangana government has plans to infuse a sum of Rs 50,000 crore to uplift the infra status in Hyderabad in the next five years. KT Rama Rao, Minister for Urban Development and Municipal Affairs (MA&UD) has shared that the fund would be utilised for the development of the Hyderabad Urban Agglomeration area. A corpus of Rs 50,000 crore is being readied by the Telangana government, which would go into the development of the Hyderabad Urban Agglomeration (HUA) region. KT Rama Rao, Minister for Urban Development and Municipal Affairs (MA&UD) has shared the information. HUA region comprises the core of the city as well as its outskirts falling within the Outer […]

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MUMBAI: Indian real estate market witnessed a significant change in the last decade mainly backed by opening up of FDI in the sector and shift in preference to high-rises over traditional low-rise structures, according to a report. The opening up of the sector to foreign direct investment in 2005 initiated the entry of new avenues for funding, and capital inflow witnessed a spike, property consultant CBRE said in its report titled ‘Inflection Point: Ten years of organised real estate in India (2005-2014)’. Restrictive legislations till 2004 provided limited scope of funds for the sector. However, opening up of the sector to FDI in 2005 opened up new avenues for investment, […]

MUMBAI: US private equity firm Kohlberg Kravis Roberts & Co has made its entry in the country’s real estate sector by finalising investments of Rs 750 crore in two property projects. KKR has struck a structured debt transaction for Rs 400 crore for the Bhartiya Group’s integrated township project in Bangalore, two people with direct knowledge of the transactions said. It also agreed to provide a Rs 350 crore structured loan to the Wadhwa Group’s luxury home project in west central Mumbai, they said. The group will use the money to repay other lenders of the project, where the cost of apartments ranges from Rs 1.5 crore to Rs 10 […]

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PUNE: The Pune Municipal Corporation (PMC) on Saturday demolished illegal constructions spread over 4,000 sq ft in Warje. Civic officials said these included residential and commercial establishments. The premises in the side and front margins were occupied without permission from the civic administration. In February, the civic administration had acted against encroachments in Ambegaon, Bavdhan and Yerawada. Illegal constructions over 1,432 sq ft, 9,000 sq ft and 4,632 sq ft, receptively were demolished in the drive. The civic body has acted against over 3,300 illegal constructions in the last year. As part of the drive, illegal sheds and houses built in concrete on an area of 22 lakh sq ft […]

PUNE: Across the city, the rush to pay the annual property tax in advance and avail the discount has swelled the Pune Municipal Corporation coffers. Over 4.50 lakh property owners, who paid the tax before May 31 and availed of the 10% discount, helped the civic body collect Rs 400 crore in two months. “More than 50% of property owners paid the tax in the first two months of the new financial year. The good response to the scheme is due to the awareness programmes the administration undertook. The efforts to provide bills at the doorstep of residents helped boost collection. A maximum number of bills were sent to the […]

Mumbai: Brookfield Asset Management Inc., a Canadian asset management company that manages investments worth $181 billion, is set to acquire all of Unitech Corporate Parks Plc (UCP), a London Stock Exchange-listed, India-focused real estate investment firm, paying `3,000 crore. A definitive agreement to this end is likely to be signed this week in London, said four persons directly involved in the deal. None of them wanted to be named. “We do not comment on market speculation,” said Brookfield Asset Management in an email response. Routhu Nagaraju, executive vice-President at Unitech Ltd, said, “UCP has announced that it will sell six projects and the process has not seen anything adverse. It […]

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NEW DELHI: Realty firm Logix group plans to raise Rs 250 crore from foreign investors for the development of its ongoing mixed-use commercial project in Noida. The company is developing this commercial project at an investment of Rs 1,000 crore and is looking to raise FDI to complete this project. The 6-acre project ‘Noida City Center’ includes a 7 lakh sq ft shopping mall, 2.5 lakh sq ft office towers, two hotels with combined 400 rooms and 100 service apartments. “Total project cost of this commercial project is Rs 1,000 crore,” Logix group CMD Shakti Nath said. The investments are largely met through internal accruals, he said, adding that the […]

NEW DELHI: Unitech Corporate Parks, a Unitech group firm listed in London, has received bids of up to Rs 2,700 crore from six companies, including Blackstone, for sale of its IT Special economic Zone (SEZ) in Gurgaon. Listed on London’s Alternative Investment Market and set up to invest in commercial real estate of India, UCP has 60 per cent stake in the Gurgaon SEZ comprising 3.6 million sq ft commercial space. Unitech has remaining stake in the SEZ. UCP has given the mandate to property consultant Jones Lang LaSalle India to find out potential buyers. According to sources, UCP, which has put the Gurgaon SEZ on the block, has received […]

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STAMFORD, CT – HARMAN, the award-winning maker of outstanding audio and entertainment solutions, announced today that eight new products have been named CES Innovation Award winners for 2014. The awards were presented by the Consumer Electronics Association (CEA®), producer of the International Consumer Electronics Show (CES), the world’s largest consumer technology tradeshow. Products from HARMAN’s JBL, Harman Kardon, Infinity, AKG, and Aha brands were recognized for outstanding design and engineering in consumer electronics.

CES 2019 - LAS VEGAS, NV – January 7, 2019 – HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co. Ltd., focused on connected technologies for automotive, consumer and enterprise markets, is showcasing at CES 2019 the vehicle’s role...

Studies show that listening to music can elevate your mood, reduce stress, ease pain, fend off depression, and even improve post-surgery outcomes. So if you are looking for a simple way to uplift your mood on any given day – just sit back, listen and cue...

The NAMM Show is the world’s crossroads for music, sound and event technology products, attracting countless famous musicians and audiophiles to get a behind-the-scenes look at the latest cutting-edge solutions impacting the audio industry. From...