Tag Archives: Chief Minister

Mumbai Builders Drop the Plan of Strike

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Mumbai builders have called off their strike scheduled for May 3.

The Maharashtra Chamber of Housing Industry and the Confederation of Real Estate Developers Association of India had called for a one-day token strike protesting the delay in project approvals and against the State Government’s move to establish a housing regulator.

The Builders Association of India too decided to participate in the strike. Addressing media persons here on Wednesday, Mr Paras Gundecha, President, said the Chief Minister, Mr Prithviraj Chavan, met the association on Tuesday and assured the members that all issues concerning builders would be addressed.

Mr Gundecha said MCHI also made a presentation to Mr Chavan on the issue faced by developers and sought a single window clearance for housing projects. The Chief Minister had also made it clear that the government’s priority was to build affordable housing stock, he said.

Commonwealth Village: Dream or Nightmare?

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As Delhi is gearing up for the Commonwealth Games, all eyes are set on the Commonwealth Village which promises state of the art facilities specially designed to be the home for over 8000 finest athletes of the participating countries.

Clausura Commonwealth Games - 99.JPG
Photo by anselmogzIt is being constructed in partnership between the Emaar MGF and the Delhi Development Authority. It’s being built next to the very famous Akshardham temple with easy access to and from south and central part of the capital. The village consists of 34 towers spread around 27 acres of land that have 1168 flats (2-5BHK) with five star amenities. It is full of plush green lawns, a swimming pool which could host competitions as well and that’s saying something, a world class health club with fully equipped gymnasium, tennis court, basketball court, kid’s crèche, play area and what not.

It was said that after the games are over the village will serve as the hostel for the students of Delhi University. The plan looks on hold as of now.

The approximate prices of the houses eyed by the real estate players are:

2 BHK (1443 sq. ft.) – Rs. 13250/- sq. ft. (Approx. Rs. 1.85 cr onwards)*
3 BHK (2092 sq. ft.) – Rs. 13250/- sq. ft. (Approx. Rs. 2.60 cr onwards)*
4 BHK (2535 sq. ft.) – Rs. 14000/- sq. ft. (Approx. Rs. 3.50 cr onwards) *
5 BHK (3278 sq. ft.) – Rs. 15000/- sq .ft. (Approx. Rs. 4.50 cr onwards)*

*Preferential Location Charges as applicable

But the candy of the eye will be the village going green. The building will be certified ‘Green’. On Saturday the Chief Minister inaugurated a 66/11 kV grid sub-station that will provide uninterrupted power supply. The Rs. 40 cr sub-station has been constructed by the power distribution company, BYPL, in a record time of 13 months.

She expressed confidence that the Commonwealth Games would prove to be a “memorable event and will be able to showcase Delhi as a developed, historical, modern and vibrant city.”

But to all this there is a flip side as well, the Environmentalists claim it’s not a smart thing to build these massive buildings on the banks of the Yamuna. They believe that the village will hamper the flow of groundwater that replenishes the seasonal river, effectively choking it which in turn will increase the shortage of water supply in the city.

Anyways amidst all this the excitement and the speed of preparation for the games the nature has been left to the mercy of gods and the babus. The city people can just sit, pray and watch.

Metro Mall

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One of India’s Major Real Estate Firms Mantri Developers based in Bangalore announced the opening of one of India’s largest malls Mantri Square. The main attraction of the project is metro connectivity in the mall itself.

Mantra Square was inaugurated on Tuesday by B S Yeddyurappa, Chief Minister of Karnataka. The mall will be located at Malleswaram, north Bangalore and spread over 1.7 million square feet which will be built with an investment of over Rs 500 cr. It will boasts of 252 retail outlets) offering 10,000 brands; said Mr. Sushil Mantri the Chairman and Managing Director of Mantri Developers. Mantri square will generate direct employment for about 4,600 people.Mayakovskaya

The  connectivity of the mall to railway station is being jointly developed by the metro rail authorities and Mantri developers. Bengaluru Metro Rail Corporation (BMRCL) has signed first-of-its-kind joint venture with this realty firm to develop the commercial hub-cum-metro station. It will be the first station to be constructed on a public-private participation model. According to the, Sources Mantri and BMRCL have entered into a revenue-sharing agreement for the proposed station. BMRCL will get 1per cent of the revenue earned annually for 30 years, and the percentage will go up to 5 after that. The land will belong to BMRCL but Mantri will spend Rs 35 cr to develop the station, and then construct a commercial tower over the station. According to the agreement, BMRCL will lease the space above the station for 99 years and after the 5-acre property is developed, it will be transferred to BMRCL.

The station becomes operational in two years time frame and is expected to provide an additional footfall of 20, 000. The footfall is expected to go up to one lac a day once the station gets started. The station area would cover around 80,000 sq feet and a third party will be involved to maintain it.
The mall would be responsible for introducing some leading international brands first time in the country and many national brands launching their outlets for the first time in the city.

Mr. Mantri said, “Mantri Square is going to be the largest mall in India. It will undoubtedly be the most sought after destination amongst discerning shoppers and for brands of repute as well. The sheer scale of offerings at the mall came only second to the detailing that has gone into ensuring a world class shopping, leisure and entertainment destination.”

Shopping in this mall will be one of its kind experience for sure.