Emaar MGF’s project GOMTI GREENS – another contribution in Lucknow’s REAL ESTATE DEVELOPMENT

Lucknow, the historical city with multicultural touch ups, courtly manners, beautiful gardens, poetry, music, and fine cuisine patronized by the Nawabs, hasreal estate property. 

made a drastic change in its development today with the rise of

In the event of its rapid progress, the name behind this goes to Shravan Gupta, the Executive Vice Chairman & Managing Director of Emaar MGF Land Limited.

Lucknow, also called as ‘TheConstantinople of India’ has become a vibrant city that is witnessing an economic boom and is among the top ten fastest growing non-major-metropolitan cities of India and is often compared to Delhi and Mumbai.

Shravan Gupta, the name for Emaar MGF has already served for more than 15 years with his experience in the real estate and financial services sectors. And, today, he is leading with “GOMTI GREENS” project for environment friendly design and construction of residential and commercial properties. Very few of the builders are concerned with the environment, this is where he has created a different position providing one of the biggest contributions to the real estate sector - by stressing the importance of creating environment friendly communities where residents can coexist with nature and live fulfilling lives. 

Ashish Jerath, VP (Sales) of Emaar MGF, as spoken in an interview with Property Plus said, “Lucknow is the Political Administrative capital due to which it has been able to benefit with a good turn around in the real estate dealings. There are basically two cities in Uttar Pradesh that are given values – Noida and Lucknow. Also, that because of what it is now, most of the politicians and businessmen have come and settled here. This is also one of the reasons for reluctant increase in price and pride of the city – Lucknow.”

“With the eye of the politicians in this particular city, there has been greater development in the real estate business. A large number of housing companies are emerging and Emaar MGF has been the one forward with its high-end residential and commercial properties. “

Without forgetting to mention, BurjKhalifa in Dubai, is one of the iconic creations of Emaar. This company has already dreamed for the horizon with its innovations and has further plans for more architecturally aesthetic structures in India. 

While understanding the hectic and stress-filled lifestyles of urban centers in the country, Emaar MGF and Shravan Gupta have established a series of path-breaking residential complexes in the country. All the complexes built by the company are based on the philosophy of incorporating nature into modern lifestyles to create balance and harmony.

It has been possible only with the belief and continuous effort of Mr. Shravan Gupta that modern living can coexist with an appreciation of nature. Incorporating this, all the projects of Emaar MGF are designed keeping in view the needs of the local environment and the requirements of a healthy lifestyle and this is exactly what GOMTI GREENS is all about.

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Gomti Greens: Emaar MGF’s environment friendly project in Lucknow

Lucknow which is also called as the ‘city of Nawabs’ is one of the key real estate development hubs in the entire Uttar Pradesh. The same fact can be very well judged from the fact that there are many major real estate players who have set up their eye on the real estate market in Lucknow. Earlier there were traditional areas such as Hazratganj that were in much focus but now the scenario is totally changing as areas such as Gomti Nagar, Janakipuram and Mahanagar are also gaining fair share of importance. In a recent real estate development the famous real estate company EmaarMGF has come up with a new project, Gomti Greens in Lucknow. 

 

How Gomti Green project is shaping up

The entire residential project is spread across 226 acres of land and the company claims it to be the most well planned and efficient real estate project in this area. If we talk about the overall design of this project then we can say that it has got one of the most professionally designed residential complexes and complete care has been taken while designing the roads and pedestrian area. The main aim of such design is to ensure proper and evenly distribution of the vehicular traffic and foot movement alongside the pavement.

Another main aim of ensuring well maintained pavements is to make people realize the importance of preserving environment so that they prefer to walk instead of driving their car for every small work within the residential campus. The entire Gomti Greens project is environment friendly and as soon as you enter into the residential complex you will see lush green surroundings greeting you with a fresh whiff of air.

There are few more eco friendly measures that are being taken such as the entire residential project has got a rainwater harvesting system and this will prove to be quite good during summer months as there is not going to be any shortage of water supply.

When it comes to plot sizes different options are provided such as 3100 sq.ft to 8611 sq.ft plot sizes are made available. Another best part about this project is that there are various important road signs that have been put up for the convenience of the residents. Proper street lights have been placed so that the entire area is well lit during the night.

Urban life is getting more and more stressed and hence with Gomti Greens Emaar MGF has tried to maintain a balance between nature and urban living standards and the main aim is ensure a peaceful and calm atmosphere.

Apart from Emaar MGF there are many more real estate players that have entered into Lucknow’s buzzing real estate market such as DLF, Ansals, Omaxe, Parsvnath, Eldeco, Sahara and many more. With all this the prices are expected to stabilize and this is considered as the right time to enter into Lucknow’s market from investment point of view.

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Gurgaon top guzzler of COMMERCIAL SPACE IN NCR Commercial property of Gurgaon always tops in demand charts, says A K TIWARY: (EVC and MD Shravan Gupta Emaar MGF)

Commercial properties in Gurgaon are being seen as smart investment options, as they give more capital appreciation compared to residential property.

Despite the disappointing economic picture, investor appetite for good quality real estate remains firm and this is likely to continue to underpin capital values in prime locations of Gurgaon like Golf Course Road, main Gurgaon Sohna Road, NH-8, etc.

These sectors are also reaping benefits from the recently-announced government measures to open up the country to more foreign direct investment.

Navin Raheja, CMD of Raheja Developers, says: “The impact of the subdued economic sentiment and the rising inflation rate on the realty market and the attractiveness of a city’s business environment can largely be gauged by evaluating the health of commercial realty in that city. The sentiment towards commercial real estate investment in Gurgaon remains favourable. The mood of investors is positive as there is a sense of stability due to the recent measures like the opening of foreign direct investments in retail. The retail sector is forecast to grow because of this announcement.”

Office space absorption Gurgaon recorded around 2.2 million sq ft of office space absorption in the third quarter of financial year 2012. This is much above the average quarterly absorption of the NCR market, which ranges between 1 million sq ft to 1.5 million sq ft.

Some of the prominent transactions that took place in the third quarter of financial year 2012 were by McKinsey, Ericsson, Income Tax Department, Samsung Electronics, Daffodil Software, Wipro, and KPMG. These constitute nearly 1.1 million sq ft of the total office space absorption.

Considering the level of pre-commitments and the fact that transaction activity is typically conservative in the final quarter of the financial year, demand is expected to improve in the latter half of the year.

The hottest locations like Golf Course Road, Golf Course Extension Road, Dwarka Gurgaon Expressway, and main Gurgaon-Sohna Road have registered great demand for state-of-the-art commercial properties.
Top developers like DLF, Unitech, Ansal Group, Vatika, Vipul, Hines, Paras, etc, have come up with world-class commercial projects in the Millennium City.

Ansal Housing is coming up with HUB 83 in Gurgaon, which will offer retail and office spaces, while Ansals Town Walk offers high street retail-cum-corporate spaces on Dwarka Expressway in Sector 104.

Orient Bestech Business Towers, on NH-8, Gurgaon, have been created keeping in mind the growing requirements of IT/ITeS firms. The project offers nearly 6.25 lakh sq ft of contemporary working spaces spread across two towers. Commercial Hub by Bestech offers floor plate ranging from 15,000 sq ft to 20,000 sq ft with retail space on ground floor for banks, ATMs, and restaurants.

Floreal Towers, with a floor plate of 20,000- 60,000 sq ft, is located in New Gurgaon and is over 7 acres with around 5 lakh sq ft of retail and office space. This stateof-the-art office-cum-retail complex by Orris is spread over two towers.

Innovative Legend Heights is a mega, Rs 250-crore commercial project; with a total area of 4.5 lakh sq ft, Legend Heights has two glass-glazed towers with ground plus 11 floors. It has a contemporary design and is centrally airconditioned with three-tier basement parking. It offers 64,000 sq ft area dedicated to shopping and retail mall. However, 11 floors embracing an area of 1.20 lakh sq ft are designed as commercial space and Innovative has already tied up with Hyatt Group of hotels for mixed-use land development.

ABW Business Bay, a commercial project by ABW Group along NH-8 in Sector 83, Gurgaon, offers retail, restaurants, shops, and office spaces.
Ocus Medley by Ocus Group is over 4.14 acres; it is a mixed-use commercial project with high street retail and a business tower for office spaces along Dwarka-Expressway in Sector 99, Gurgaon.

Ciel Square, an exclusively designed high-end commercial complex by Uppal Group is near NH-8 and Dwarka-Manesar Highway in Gurgaon. It will have expansive green spaces over 3.6 acres on a total area of 6.9 acres. Ciel Square will have retails outlets on its ground floor and premium business suites on the remaining floors.

Raheja Trinity by Raheja Developers offers the best of three worlds in Gurgaonoffice space, retail, and service apartments. Located in the heart of New Gurgaon in Sector 84, at the intersection of Dwarka Expressway with the sector road dividing Sectors 83 and 84-Trinity is in the midst of a bustling residential hub. A number of posh and high-end residential projects are also being developed in this area. The affluent neighborhood opens a great avenue for retailers. The location offers excellent connectivity to and from Delhi, the IGI airport, as well as other parts of Gurgaon.

Raheja Trinity is an amalgamation of retail (ground and first floor), service apartments, and offices for the market. The rooftop clubhouse along with swimming pool, gymnasium, party area, and terrace garden are the USPs of the project.

Ameya Group has recently launched Sapphire Eighty Three in Sector 83, Gurgaon. The project is at the crossroads of several upscale, fast-developing residential sectors. The ground and first floor are dedicated to retail area followed by entertainment zone on the second floor with multiplex, food zone, and restaurants. The remaining portion of the project has plush one- and two- room suites.

Satya Group and Maple Group are coming up with Element One, a commercial project in Sectors 47 and 49; the project offers 1BHK fully-furnished apartments, high-end retail shops on the ground floor and first floor with different design option for retail, entertainment, shopping, and business suites.

EMAAR MGF has launched Capital Towers at Downtown-part of a mixed-use development project in the heart of Gurgaon. Located at Mehrauli-Gurgaon Road, near Guru Dronacharya Metro station, Capital Tower 1 at Downtown is a bustling business project that offers business and retail space with recreational amenities.

Ashish Jerath, VP of EMAAR MGF, says: “In August 2013, we launched a commercial project, Capital Tower 1 over 3.5 acres; it is strategically located at the gateway of Gurgaon and inspired by the very best of international architectural design. We expect to deliver this project sometime in 2016. Construction has begun on the project-the excavation work is complete and foundation and basement work is in progress.”

Paras Buildtech has launched Paras Square, a mixed-use project with commercial space. The group has delivered two commercial projects, Paras Twin Towers and Paras Downtown Centre, in Gurgaon. Other commercial projects like Paras Trade Centre and Paras Trinity are in the construction stage, while Paras Square, the sole mixed-use project, will come up next to Golf Course Extension Road in Sector 63A.

Microtek Infrastructures has lined up four commercial projects in New Gurgaon area, in close proximity to Dwarka-Gurgaon Expressway.

Ajay Aggarwal, MD, Microtek Infrastructure, says: “Gurgaon has almost exhausted its space, so the current developments have shifted to the developing sectors of New Gurgaon. Development authorities like Huda and MCG have adopted innovative action plans for the infrastructural development of this part of Gurgaon.

That is why wider connectivity roads are being laid out and the much soughtafter Dwarka-Gurgaon Expressway is being developed on a par with international standards. With a number of residential projects either launched or completed, there will be a need for commercial space to support the modern lifestyle of the residents. We have lined up a few commercial projects to this end.”

QUICK
BITES
APART FROM IT, NON-IT SECTORS LIKE CONSULTING AND BFSI (BANKING, FINANCIAL SERVICES, AND INSURANCE) ARE ALSO EXPECTED TO INCREASINGLY ABSORB THE AVAILABLE SPACE
GURGAON RECORDED AROUND 2.2 MILLION SQ FT OF OFFICE SPACE ABSORPTION IN THE THIRD QUARTER OF FINANCIAL YEAR 2012. THIS IS MUCH ABOVE THE AVERAGE QUARTERLY ABSORPTION OF THE NCR MARKET, WHICH RANGES BETWEEN 1 MILLION SQ FT TO 1.5 MILLION SQ FT

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AAP may challenge assembly's suspension

NEW DELHI: Unhappy with the Centre's decision to impose President's rule in Delhi, the Aam Aadmi Party (AAP) is exploring legal options to challenge it. Outgoing CM Kejriwal had recommended dissolution of the Delhi assembly and fresh elections. But the Union Cabinet considered the L-G's report and decided that suspended animation was the right option.

Speaking to TOI, Kejriwal said, "We have been told that the L-G sent both options (of holding fresh elections and keeping the assembly in suspended animation) as recommendations to the cabinet. I am very unhappy with the Cabinet's decision. We are thinking within the party whether it is possible to challenge this order and approach court."

Kejriwal found the decision intriguing as neither Congress nor BJP was interested in forming the government. "So, why suspended animation?" he asked. Another AAP leader said, "It appears that no government can be formed unless there is horse-trading. The government's intention appears to be malafide and based on extraneous considerations,'' he said.

As for AAP's strategy for the Lok Sabha polls, Kejriwal said his party candidates would "pursue" the targeted leader of Congress and BJP. He said if, say, Kapil Sibal contested from Chandigarh instead of Chandni Chowk, so would Ashutosh. "But Sibal's biggest defeat woulod be if he has to change his seat," he added.

Asked if he himself will take on Modi, Kejriwal shot back, "Do you know where he's fighting from?" When told why wouldn't he similarly "pursue" Modi and take him on wherever he fights from, Kejriwal asked, "What makes you so sure he's fighting this election?" When it was pointed out that Modi was, after all, BJP's PM candidate, Kejriwal said, "But you don't have to fight elections to be PM."

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Emaar's 'iconic' India building still on drawing board

The India joint venture, Emaar MGF, says it is in talks with foreign designers and architects for the project

After lying low for several quarters, the joint venture real estate company of Dubai’s Emaar Properties and home-grown MGF is toying with the idea of what it calls an “iconic” building in India. Ever since its launch in the country in 2005, it remained focused on high-end residential and commercial properties (nine of the former for every one of the latter) until controversies and slowdown almost put brakes on development activities.

Burj Khalifa in Dubai is considered Emaar’s most iconic creation in the world. But it is not clear whether India’s “iconic” will match Dubai’s. The company’s plans for an “architecturally aesthetic” structure in India is still on the drawing board, with even the number of storeys in it undecided. In an interaction with Business Standard, K Ramamurthy, chief executive (projects), Emaar MGF, said the company was talking with foreign designers and architects for the project without revealing details.  

For more than two years, the company has had to battle controversies related to delayed allocation of flats in Delhi’s Commonwealth Games (CWG) Village, a joint project with Delhi Development Authority, an enforcement directorate case on alleged foreign exchange violations, failed public offers and a Central Bureau of Investigation chargesheet regarding irregularities in a Hyderabad project. It has recently restructured senior management to streamline execution targets, sources said.

While Ramamurthy joined six months ago from another real estate company, Adrian Hardwick Jones, chief of design, has also joined recently. The company has brought in many other senior professionals at the project head levels.

Emaar MGF hit its lowest in development in 2012 when it neither launched nor delivered a single project, following the CWG project of 2010. It recovered slightly in 2013 and launched two, while delivering the first phase of a township and plotted development projects in Jaipur (Rajasthan) and Indore (Madhya Pradesh), besides a group housing in Mohali (Chandigarh). Ramamurthy said: “2014-15 will be the year of delivery as about eight projects launched earlier will be delivered in this period.” The company has now tied up with third-party contractors such as Shapoorji Pallonji, IL&FS and JMC to meet project deadlines.

The company is likely to maintain its residential-commercial ratio.

It is developing 54 projects (including project phases) — 45 residential and nine commercial/retail, with an aggregate saleable area of 42.5 millon sq ft, spread across eight cities. It has a land bank of about 10,000 acres (including developed projects), of which 908 acres are in Delhi and 2,369 in Gurgaon.

The company has debt of Rs 4,000 crore, 60 per cent of which is long-term. “We have been reducing the debt over the years and working on reducing it further.”

The real estate sector has been slowing down for over a year, with dipping sales and high stocks. The projection for the sector is yet to pick up.

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Delhi LG to send report to Centre today on scenario after AAP resignation

NEW DELHI: Delhi lt governor Najeeb Jung is expected to give his report to the Centre on Saturday on the follow-up action in the wake of resignation of the Aam Aadmi Party government.

Sources said he would give his report on the situation to the President through

the Union home ministry for final decision on whether to bring the national capital under a spell of central rule or dissolve the House for holding elections along with Lok Sabha polls as recommended by the outgoing cabinet.

The lt governor will send a "factual report" along with resignation of the government and the Cabinet's recommendation, the sources said.

Kejriwal on Friday resigned as Delhi chief minister shortly after his government was defeated on the issue of tabling of the Jan Lokpal Bill in Delhi assembly in the face of a united resistance by outside supporter Congress and opposition BJP.

Jung had advised the assembly against transacting the Jan Lokpal Bill which he said should have prior clearance of central government.

Kejriwal had on Friday recommended to the lt governor to dissolve the assembly and hold fresh elections.

Meanwhile, Aam Aadmi Party (AAP) leaders held a meeting to decide the future course of action on Saturday, a day after Arvind Kejriwal quit as Delhi chief minister.

The party leaders began arriving at Kejriwal's Tilak lane home in Delhi by 11am.

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Wet Valentine's Day is 2nd coldest in Feb since 1971

NEW DELHI: Couples had another excuse to snuggle up to each other on Valentine's Day, which turned out to be wet and chilly. The maximum temperature plunged nine degrees below normal to 14.6 degrees Celsius, making it the second coldest day for February since 1971, according to IGI's Met department.

At Safdarjung, 23.6mm rain was recorded by 8pm on Friday, the number boosted by steady overnight showers. IMD director B P Yadav said the wet weather was caused by a confluence of wind systems from the northwest , Bay of Bengal and Arabian Sea. The hill states saw heavy snowfall at many places. Expect light rain and cloudy skies on Saturday.

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2014 IPL Auction: How the teams stand after Day 1

Royal Challengers Bangalore pay Rs 14 crore for Yuvraj Singh

Dinesh Karthik a surprise pick by Delhi Daredevils, for Rs 12.5 crore 

The opening day of the 2014 Indian Premier League players' auction in Bangalore, on Wednesday, saw a lot of action, with the teams going all out for the marquee players.

India's batting ace Yuvraj Singh commanded the highest price, Royal Challengers Bangalore paying a massive Rs 14 crore for him, while Dinesh Karthik was a surprise pick at Rs 12.5 crore by Delhi Daredevils. 

Delhi also did well to retain the services of Kevin Pietersen, after using the 'Right to Match' card, for Rs 9 crore, while Australia's Ashes hero Mitchell Johnson was snapped up by Kings XI Punjab for Rs 6.5 crore. 

The Kings also managed to snatch hard-hitting Australian all-rounder Glenn Maxwell for Rs 6 crore.

A look at the purchases made by the teams on Day 1 of the auction:

Chennai Super Kings
Player	Type	Price Paid (in Rs.)
Faf du Plessis	Batsman	4,75,00,000
Dwayne Smith	Batsman	4,50,00,000
Brendon McCullum	Wicket Keeper	3,25,00,000
Ashish Nehra	Bowler	2,00,00,000
Mohit Sharma	Bowler	2,00,00,000
Ben Hilfenhaus	Bowler	1,00,00,000
Samuel Badree	Bowler	30,00,000
Matt Henry	Bowler	30,00,000

Delhi Daredevils
Player	Type	Price Paid (in Rs.)
Dinesh Karthik	Wicket Keeper	12,50,00,000
Kevin Pietersen	Batsman	9,00,00,000
Murali Vijay	Batsman	5,00,00,000
Mohammad Shami	Bowler	4,25,00,000
Nathan Coulter-Nile	Bowler	4,25,00,000
Quinton De Kock	Wicket Keeper	3,50,00,000
Manoj Tiwary	Batsman	2,80,00,000
Jaydev Unadkat	Bowler	2,80,00,000
Jean-Paul Duminy	Batsman	2,20,00,000
Rahul Sharma	Bowler	1,90,00,000
Laxmi Ratan Shukla	All-Rounder	1,50,00,000
James Neesham	All-Rounder	1,00,00,000
Saurabh Tiwary	Batsman	70,00,000

Kings XI Punjab
Player	Type	Price Paid (in Rs.)
Mitchell Johnson	All-Rounder	6,50,00,000
Glenn Maxwell	All-Rounder	6,00,00,000
George Bailey	Batsman	3,25,00,000
Virender Sehwag	Batsman	3,20,00,000
Wriddhiman Saha	Wicket Keeper	2,20,00,000
Shaun Marsh	Batsman	2,20,00,000
Cheteshwar Pujara	Batsman	1,90,00,000
Lakshmipathy Balaji	Bowler	1,80,00,000
Thisara Perera	All-Rounder	1,60,00,000
Parvinder Awana	Bowler	65,00,000

Mumbai Indians
Player	Type	Price Paid (in Rs.)
Michael Hussey	Batsman	5,00,00,000
Corey Anderson	All-Rounder	4,50,00,000
Pragyan Ojha	Bowler	3,25,00,000
Zaheer Khan	Bowler	2,60,00,000
Josh Hazlewood	Bowler	50,00,000

Rajasthan Royals
Player	Type	Price Paid (in Rs.)
Steven Smith	All-Rounder	4,00,00,000
Brad Hodge	Batsman	2,40,00,000
Tim Southee	Bowler	1,20,00,000
Abhishek Nayar	All-Rounder	1,00,00,000
Kane Richardson	Bowler	1,00,00,000
Ben Cutting	Bowler	80,00,000

Royal Challengers Bangalore
Player	Type	Price Paid (in Rs.)
Yuvraj Singh	All-Rounder	14,00,00,000
Mitchell Starc	Bowler	5,00,00,000
Albie Morkel	All-Rounder	2,40,00,000
Varun Aaron	Bowler	2,00,00,000
Ashok Dinda	Bowler	1,50,00,000
Parthiv Patel	Wicket Keeper	1,40,00,000
Muttiah Muralitharan	Bowler	1,00,00,000
Ravi Rampaul	Bowler	90,00,000
Nic Maddinson	Batsman	50,00,000

Sunrisers Hyderabad
Player	Type	Price Paid (in Rs.)
David Warner	Batsman	5,50,00,000
Amit Mishra	Bowler	4,75,00,000
Bhuvneshwar Kumar	Bowler	4,25,00,000
Aaron Finch	Batsman	4,00,00,000
Darren Sammy	All-Rounder	3,50,00,000
Ishant Sharma	Bowler	2,60,00,000
Irfan Pathan	All-Rounder	2,40,00,000
Moises Henriques	All-Rounder	1,00,00,000
Jason Holder	Bowler	75,00,000
Venugopal Rao	Batsman	55,00,000
Brendan Taylor	Wicket Keeper	30,00,000

Kolkata Knight Riders
Player	Type	Price Paid (in Rs.)
Jacques Kallis	All-Rounder	5,50,00,000
Robin Uthappa	Batsman	5,00,00,000
Piyush Chawla	Bowler	4,25,00,000
Yusuf Pathan	All-Rounder	3,25,00,000
Shakib Al Hasan	All-Rounder	2,80,00,000
Morne Morkel	Bowler	2,80,00,000
Ranganath Vinay Kumar	Bowler	2,80,00,000
Umesh Yadav	Bowler	2,60,00,000

 

Related News: Royal Challengers Bangalore, Kings XI Punjab, Glenn Maxwell, Dinesh Karthik, Kevin Pietersen

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Will quit if Jan Lokpal bill not passed, Kejriwal says

NEW DELHI: Delhi chief minister Arvind Kejriwal further escalated his confrontation with the Centre over the Jan Lokpal bill on Sunday by saying he would resign if it was not passed. With Congress clearly saying it cannot support an "unconstitutional" bill, the AAP government is now on the brink of collapsing.

"For me the Jan Lokpal and Swaraj bill are very important. If they fail to pass, there is no reason for me to remain in power. I will resign," Kejriwal said in an interview at the Delhi Literature Festival 2014. He said people would teach the Congress and BJP a lesson if the anti-corruption bills were not passed. "We will win more than 50 assembly seats in a re-election," he claimed.

The Jan Lokpal bill and Swaraj bill are inspired by the activist-turned politician's book 'Swaraj' which questions the existing democratic framework in the country and suggests ways to achieve true 'self-rule'.

While the Jan Lokpal bill provides for covering all public servants - from chief minister to Group D employees - and seeks life term as maximum punishment for those found guilty of corruption, the Swaraj bill seeks to decentralise power.

Delhi Pradesh Congress Committee chief Arvinder Singh, who is one of the eight Congress MLAs giving outside support to AAP, told TOI, "We have always maintained that we will support Jan Lokpal bill if it is as per the law but in this case rules have been flouted to table the bill in the assembly and that cannot be allowed." Singh added, "Chief minister Arvind Kejirwal is not above the Constitution. If he says that he is an 'aam aadmi' then he should behave like one and not try to be bigger than the Constitution."

Delhi BJP chief Vijay Goel said, "How can we state our views on a bill we are yet to see? Only when MLAs get to see the bill will we be able to firm up our stand. The government is not even giving time to MLAs to go through the bill and wants it to be passed in a huff."

In his interview, Kejriwal said the Jan Lokpal and Swaraj bill would be tabled in the Delhi assembly on Thursday. "Swaraj Bill shall be passed on Saturday and we are trying to convene a special session at Indira Gandhi stadium on Sunday to pass the Jan Lokpal bill," he added.

In a House of 70, AAP's strength has been reduced to 27, including the Speaker, after it expelled MLA Vinod Kumar Binny. The Congress has eight legislators while the BJP has 32.

Kejriwal said BJP has passed a similar (Jan Lokpal) bill in Uttarakhand. "If they do not support us, they will stand exposed too," he added.

Asked about the alleged unconstitutionality of the two bills, Kejriwal said it was the home ministry's order to seek its permission before passing the bills that was unconstitutional. He said a resolution had already been passed by the Delhi assembly against the MHA order on February 3. "When I became the CM, I swore by the Constitution, not by the home ministry order," he said. The AAP leader said legal luminaries like Soli Sorabjee have supported his view too.

Kejriwal said the Lokpal Bill passed by the Centre was ineffective. "Even a mouse cannot be caught and punished by that law," he said.

He refuted claims that his move (to resign) was premeditated and aimed at the upcoming Lok sabha polls. "Has Gujarat chief minister Narendra Modi, who is the prime ministerial candidate of BJP, resigned?" he asked. Kejriwal did not comment on whether he would be the prime ministerial candidate of AAP in Lok Sabha elections or if he would contest them at all. He denied supporting any political party too. "We will field candidates against all corrupt politicians, criminal ones, dynasts and communalists," Kejriwal said.

While party sources have been hinting at a possible resignation of the CM if the bill did not get support in assembly, a final decision in the matter was taken on Sunday. The party's parliamentary affairs committee (PAC) met on Sunday and decided to back Kejriwal in whatever decision he took. PAC members say that they will go to any length to get the bill passed, if not now then in their next term, presuming AAP comes back to power in Delhi again but with a majority.

Sources said that if the bill, the government's most important agenda, did not win support in the assembly, it would be "morally incorrect" for it to continue in power. "AAP will go to any length to get the bill passed. At one end is the Gujarat government which stalled the Lokayukta for nine years and here is the Delhi CM who is willing to let the government fall to ensure that the Lokpal Bill is passed," said Sanjay Singh, member of the PAC.

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Pay Rs 170 crore for an uber-posh address

Tata Housing plans the country's most expensive gated villas in Delhi

With a price tag of Rs 130 crore to Rs 170 crore for a villa, Tata Housing is preparing to set a new benchmark for luxury gated living in Delhi. The most

“We are still in the conceptualisation stage for this ultra-luxury project. It would be difficult to share the timeline. We are working with international architects for this exclusive development,” said a Tata Housing spokesperson on the new project.

Lodha group’s Rs 100-crore apartments in The World Tower, Mumbai, in a tie-up with international designer Giorgio Armani, are closest to the Tata project in terms of being pricey, according to consultants tracking the segment. Luxury homes in gated projects have mostly been capped at anything between Rs 10 crore and Rs 35 crore. DLF’s super luxury homes in Delhi’s Greater Kailash II — Queen’s Court and King’s Court — are priced around Rs 20-35 crore. Emaar MGF’s upcoming project —Marbella — in Gurgaon will have villas priced at Rs 9-12 crore. Supertech has launched a high-end project, again with the Armanis, in Noida for around Rs 10-25 crore.

The Tata villas are some time away as construction has not begun. An old mansion, yet to be razed to make way for the villas, still stands strong just a walk away from downtown Connaught Place. With the Iranian and Nepalese embassies and West Bengal’s state office ‘Banga Bhavan’ as neighbours, the Tata villas will be all about the address. The features that will come along will be value-additions. The company had bought the 1.3-acre land in 2012 for around Rs 250 crore.

Tata Housing Managing Director Brotin Banerjee said, “There is huge demand for ultra-luxury projects in the prime locations in and around Lutyens road due to limited or no supply in these areas. The demand in these areas outstrips the supply by a large margin and this makes it one of the most important markets for us.” Tata Housing is constantly on the lookout for exciting deals to create landmark projects across the length and breadth of India, according to Banerjee. Apart from the Hailey Road property, the company has three under-construction luxury projects — Raisina, Gateway and Primati — all in Gurgaon. The company is also looking for land opportunities across metros for building premium luxury projects.

Delhi, meanwhile, is expected to witness a spree of development by private developers once the new Master Plan 2021 by the Delhi Development Authority is implemented, which will unlock a huge amount of vacant land for realty development.

Among the other luxury realty projects coming up in Delhi are those from Godrej Properties in Okhla and a retail-cum-office complex on Kasturba Gandhi Marg by Parsvnath Developers. Another developer M2K is coming up with a residential project near Model Town and DLF is constructing King’s Court at Greater Kailash II in the city.

Referring to the five-acre luxury project in Okhla, Pirojsha Godrej, managing director & chief executive officer, Godrej Properties, had earlier said, “The National Capital Region is a key part of our growth strategy and we believe this project’s strategic location will help increase our presence in the region.”

Under Delhi’s Master Plan 2021, land is set to be unlocked in North Delhi, around the Yamuna river front, Narela, Dwarka and some other parts of the city. Also, the new farmhouse policy, whereby the government will allow farmhouses of one acre, is expected to add to the action in the capital city’s real estate space.

expensive offering from Tata Housing, occupying 1.3 acres for four to five villas on 2, Hailey Road, is coming 25 years after it had launched apartments for Rs 70 lakh on Prithviraj Road in the capital. That was the group’s first Delhi project

spread across three acres, defined as luxury and at that point the most expensive in that class.

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South Delhi to face 50% power cut if NTPC pulls plug, BSES tells SC

NEW DELHI: South and south-west Delhi face the prospect of 50% power cut after February 10, the deadline given by NTPC for stopping supply of electricity to distribution company BSES Rajdhani on account of non-payment of arrears.

BSES Rajdhani Power Ltd (BRPL) on Thursday moved a writ petition before the

Supreme Court alleging that non-payment of Rs 5,206 crore due to it by the Delhi government had left it cash strapped and expressed inability to arrange funds to pay Rs 1,071 crore it owed to power suppliers like NTPC.

The petition is listed for hearing on Friday. NTPC, which supplies 53% of the power procured by BRPL for distribution, has served a regulation notice on BRPL to renew the letter of credit by February 10, failing which it threatened to stop supplying 1,261 mw of electricity to BRPL.

BRPL's petition, mentioned for urgent hearing on Thursday by advocate Sanjiv Sen, narrated its financial woes. It said the Delhi government in its 2001 policy decision had assured discoms to recover all reasonable expenses with 16% return on equity.

"As against total recovery of Rs 5,206 crore pending in favour of BRPL, it has only outstanding dues of Rs 1,071 crore to its suppliers. The effect of the same has been that some of the suppliers have already stopped supplying electricity to BRPL due to BRPL's inability to pay their outstanding dues," it said.

It accused the Delhi Electricity Regulatory Commission (DERC) and Delhi government of adopting double standards. "On the one hand, the DERC in its statutory advices has recognized that the tariff determined has not been cost reflective successively and on the other hand, DERC has initiated proceedings for suspension of BRPL's licence at the behest of the Delhi government," it said.

It said on February 4, DERC revived proceedings for suspension of BRPL's distribution licence. The petition said BRPL had been "impaired of the capacity to pay its suppliers because of the shortfall in promised return of Rs 902 crore per year, which has accumulated to Rs 5,206 crore".

When DERC and Delhi government had financially impaired it, making it unable to pay electricity suppliers like NTPC, how could they initiate punitive proceedings against BRPL, the petitioner asked.

BRPL, which is a 51:49 joint venture of Reliance Infrastructure's BSES and Delhi government's Delhi Power Company Ltd, has sought protection of its investment in the discom and the assured return from the licenced business.

It sought a direction from the court to power suppliers including NTPC, Power Grid Corporation, National Hydro Power Corporation and Damodar Valley Corporation "not to disconnect or discontinue power supply or take any other coercive measure till the Supreme Court determines the appropriate mechanism for adjusting the dues owed by BRPL to power suppliers from the amounts due and owed to it".

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CWG scam: Kejriwal moves files, FIR likely against Sheila Dikshit

NEW DELHI: Delhi chief minister Arvind Kejriwal on Thursday moved the files relating to the preparations for the 2010 Commonwealth Games (CWG) to the Anti-Corruption Bureau (ACB), which means that an FIR will be filed against Sheila Dikshit, a government source said.
"The chief minister has already moved the files to the ACB which means that an

FIR will now be filed against Sheila Dikshit," the sources said.

The government has particularly asked ACB to probe the alleged irregularities in street light projects in which the Prime Minister-appointed Shunglu Committee had questioned certain decisions made by Dikshit.

"We will ensure thorough investigation of all cases of corruption in CWG projects," law minister Somnath Bharti said when asked about the government decision.

He said ACB has been told to examine all cases of irregularities but maintained that the probe will not target "any particular individual".

"The probe is not being carried out to target any individual. We will ensure a free and fair probe," he said.

The Shunglu Committee had found procedural violations by then Delhi lieutenant governor Tejinder Khanna and Dikshit for alleged inadequacies in executing certain projects related to 2010 Commonwealth Games.

Dikshit had trashed the findings of the report and had sent a point-by-point rebuttal to the Centre.

After assuming charges, chief minister Arvind Kejriwal had announced that his government will investigate all corruption cases, particularly the CWG scam.

In the 70-member Delhi assembly, eight Congress MLAs are giving outside support to the Aam Aadmi Party (AAP) government which currently has 27 MLAs after expulsion of rebel legislator Vinod Kumar Binny. The government has also been given outside support by a Janata Dal(United) MLA and an Independent.

(With inputs from PTI, IANS)

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Andhra CM Kiran Reddy stages protest at Jantar Mantar against his own party

NEW DELHI: The drama over the formation of Telangana scaled new heights on Wednesday with Andhra Pradesh chief minister Kiran Reddy staging a sit-in protest in the Capital while a harried government weighed the option of a voice vote to pass the contentious legislation.

The CM doing an Arvind Kejriwal at Jantar Mantar seemed even more bizarre as Reddy was opposing his own Congress party's decision to form Telangana.

The task of getting the Andhra Pradesh Reorganization Bill through Parliament looks more challenging as Reddy set an unusual precedent by leading the anti-Telangana stir even as Congress pledged support to the new state.

While Reddy and some of his cabinet colleagues protested, Seemandhra MPs from Congress, YSR Congress and TDP disrupted Parliament, forcing adjournment of Lok Sabha followed by Rajya Sabha.

It is learnt that Telangana Rashtra Samithi leader K Chandrasekhar Rao has urged the government to pass the bill by a voice vote, arguing that bills to create Uttarakhand and Jharkhand were passed in a similar manner.

Government sources said the voice vote route could be an option as the Telangana bill is not a constitutional amendment, but senior Congress leaders remain cautious, pointing to vehement opposition to the new state.

However, the political directive to Congress floor managers is clear enough. "The next Lok Sabha will have 17 MPs from Telangana and 25 MPs from Seemandhra, the die seems cast," said a minister.

The bill is expected to be cleared by the Union Cabinet on Thursday with a group of ministers having finalized a draft.

BJP reiterated that it will oppose marshalling out of anti-Telangana MPs and also demanded that the two Houses must be in order when the bill is considered, conditions that Congress felt were aimed at delaying the bill.

Meanwhile, TDP leader N Chandrababu also reached the capital to oppose the Centre's "unilateral" decision to create a new state without adequate consensus. "The Centre must take the states into confidence. But the Centre is violating all this and that is not correct," he said.

Official sources said a TDP delegation led by Lok Sabha MP Nama Nageshwar Rao expressed readiness to support the bill. Rao represents TDP MPs from Telangana region.

With the government planning to bring the Telangana bill to Parliament, possibly Rajya Sabha first, on February 12, emotions are coming to a boil with supporters of both camps coming close to blows at Andhra Bhawan on Wednesday.

The heated exchanges between Telangana and Seemandhra MPs in Parliament also threaten to spill out of hand forcing the government to consider tough action like seeking the suspension of anti-Telangana MPs.

Though government managers are cagey in spelling out plans for disciplinary action, saying the matter is for presiding officers to decide, passing the bill in the presence of Seemandhra MPs seems a rather fraught task.

The noisy and chaotic start to the continuing winter session did not bode well for transaction of business and finance minister P Chidambaram admitted as much while addressing a business conclave, saying he doubted if Parliament will pass any law.

"We have to go through the ritual of attending Parliament every day and come back empty handed," Chidambaram said.

Prime Minister Manmohan Singh was more optimistic, saying "hiccups" over Telangana would subside. "I think these are hiccups. I hope all sections of the House will have the wisdom to set aside these prejudices and create an atmosphere conducive to harmonious working of the House," he said.

But the situation does not look promising for the government, as tough action like suspending anti-Seemandhra MPs will only increase the bitterness over the formation of Telangana.

While BJP is not making things easier for the government, the Congress will end up losing face on both sides of the Telangana divide if it backs out at this stage.

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