08.31.06
Posted in Review, News, India, investment, SEZ, Government, Prices, Real Estate at 11:40 pm by Mridul
SEZ: Is it Export promotion or Real Estate Promotion: says RBI
Now the SEZ fever has disturbed the (Reserve Bank of India) RBI too. The RBI has said that the SEZ policy 2005 sees to be more focused on the Real Estate promotion rather that Export promotion. In the recent reports, the RBI has said that “the tax breaks for the SEZ are only justifiable only if they establish forward or backward linkage with the domestic economy”.
Our review: If RBI is now in picture, then it’s a matter of concern. This will definitely ignite the political dispute for SEZ into the states also. The promoters who have already set up their plants in the existing operational SEZ must be the most happiest persons coz they would be affected by any the policy change into the SEZ act, since their units were set up in the SEZ which the old policy was in action.
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08.25.06
Posted in Review, News, Government, Prices, Travel & Tourism, Real Estate at 4:00 am by Mridul
DDA bidding hotel lands at unreasonable prices
In a study of the land auctions to be done in Delhi for the Commonwealth games in 2010, The Delhi Development Authority (DDA) has grand plans to cope with this shortfall, by carving out specific areas for building hotels. The DDA is looking to make at least Rs 2,669.13 crore - as indicated from the reserve price - from the auction of 10 hotel sites on September 25, 2006.
Delhi at present is short of approx 22000 rooms for the Commonwealth Games and the DDA has planned to auction many sites. Most of these sites are actually not located at nice location from the tourist point of view. The sites at Shalimar Bagh and Wazirpur will not be preferred by tourists visiting Delhi during the Commonwealth Games, as they are not in proximity to the airport and popular tourist spots. So how these hotel even after getting the lands at such high prices will break even. The DDA should think over these facts and should think on making these hotels viable. If the cost of land and Building will be high, then it will affect the average room rate (ARR) of the Hotels which will directly affect the guest for the Commonwealth Games.
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08.19.06
Posted in News, Oil Prices, Markets, Commodities, Prices at 6:28 am by Mridul
Oil dips to two-month low
LONDON: Oil fell more than a dollar on Thursday lo its lowest price in nearly two months after ample US fuel stockpiles eased investor fears of supply shortages as the US summer driving season draws to a dose. Although prices have fallen for four consecutive sessions, the market is still up 14% this year on healthy global demand, geopolitical tensions and supply disruptions in key oil-producing countries. US light, sweet crude for September delivery dropped $ 1.19 to $70.70 a barrel by 1100 GMT, its lowest since June 26.
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