CHENNAI: Cognizant Technology Solutions said it will invest an additional $100 million in India, taking its total investment in the country to $300 million over the next two years.
The IT and BPO major said the additional investment will be used to expand its new Chennai campus — located in a special economic zone — which will double in size with an area of over 2 million sqft.
Cognizant is increasing the size of the first phase of planned construction of its SEZ facility in Coimbatore to over 7,25,000 sqft. It also plans to acquire additional property in Hyderabad and Chennai.
Chief financial and operating officer Gordon Coburn said: “We expect this investment to enhance our flexibility to meet the escalating demand for our services from both new and existing customers around the world.”
In November 2006, Cognizant announced it has planned to spend more than $200 million on land, building and other facilities for upcoming techno-complexes. The move, it said, would increase its existing campus area in India by more than 3 million sqft with a capacity to accommodate over 30,000 new employees.
Of the 46,000 professionals globally, over 35,000 are in India, spread across its eight locations in Chennai, Pune, Kolkata, Bangalore, Hyderabad, Mumbai, Coimbatore and Kochi.
Friday, August 3, 2007
Friday, July 13, 2007
UNITECH ANNOUCES LUXURY RESIDENTIAL PROJECT - UNITECH GRANDE IN NOIDA
New Delhi, India, July 07, 2007 - Indian real estate major Unitech Ltd has announced the launch of a premium residential project, Unitech Grande, in Noida. Unitech Grande is a premium lifestyle destination offering super luxury apartments in sylvan surroundings across 347 acres of prime land.
Unitech Grande is located on the premium Noida Expressway, less than 2.5 kms from the Amity Chowk on the Expressway, thereby enjoying good connectivity and locational advantage with respect to the city master plan. It offers a tranquil environment in the NCR affording a varied selection of upscale typologies overlooking a golf course. Conceived to be the most sought after address in South Asia, this township offers the best living, shopping, working and hospitality facilities within a ten-minute drive along with superior accessibility to the nations capital.
The heart of this creation is a signature Golf Course exclusively designed by none other than Greg Norman himself. Apartment size ranges from 2,200 sq ft to 5,500 sq ft. The apartments are housed in soaring masterpieces of skyscraping architecture, created by some of the most celebrated architects and planners of the world. Luxury has acquired a new meaning here with all apartments having dedicated high speed internet connections, a fridge, washing machine and dryer (in addition to the usual modular kitchen), his and hers basin in the master bath and more. Selected apartments have terrace gardens and personal plunge pools.
A grand skyline with 8 iconic towers, varying in height, some as high as 45 storeys, has been stamped with the individual brilliance of the world’s top celebrated architects and planners. Grande offers super luxury apartments, all having an exquisite view of the Signature Golf Course. A few apartments also offer a 180-degree view of the same.
Sky bridges are to link most of Grande’s towers, each bridge exquisitely landscaped to give India the very first ‘sky gardens’.
Theme gardens are the focal point of each cluster of Grande, resplendent with exotic flowers, trees, waterfalls, pristine meadows, swimming pools and water bodies. Grande has been designed with all the attributes of environment planning dictated by international standards, including waste management, recycling resources and achieving energy friendly environment. Sun shading screens, eco-rated air conditioning units, state of the art purification systems for drinking water, rainwater harvesting and green roofs are some of the features that make it a truly sustainable and intelligent township.
The complex is also expected to house schools, hospitals and shopping outlets.
Unitech had acquired the land for this project in May 2006 for $420 million. Construction cost is expected to be many times this amount. A total of 5,300 units are to be built over seven years. 670 units are to be completed in the first phase of which 25% are already sold according to the developer.
Wednesday, May 9, 2007
NOW NAGPUR , PROPERTY RECORDS JUST A CLICK AWAY
NAGPUR: The Nagpur Municipal Corporation (NMC) may become the first local self government organisation in the state and perhaps in the country to make available online entire records of all its five lakh properties in the city.
"We have initiated the project and a budget provision of Rs 1 crore has been sanctioned," additional deputy municipal commissioner Ajay Ramteke said. Apart from this, the corporation is undertaking GIS mapping of properties and has proposed to set up of ten kiosks for payment of property taxes.
According to Ramteke, the corporation will get all the property records scanned before putting them online. The corporation is still to work on bid documents and the tendering process is likely to begin by next month. The project is expected to be completed within a year.
The project has several advantages both for residents and the civic body. Property owners can now get details regarding the property on a compact disc or can also check them online. This could include all details related to ownership, tax payment, arrears and corporation action against the owner. At present computerisation in the department is limited to tax assessment and billing.
For the municipal corporation maintaining lakhs of documents is a cumbersome task. There is also a possibility of documents getting damaged.
Of about five lakh properties in Nagpur, 70,000 of them are commercial. Several properties are unassessed and last year the corporation initiated a drive to bring all such properties under the tax net. About 40,000 unassessed properties were identified and assessed.
In 2006-07 the Nagpur Municipal Corporation earned Rs 74 crore in property tax—no change over the previous collection. The corporation had estimated Rs 108 crore in property tax but it failed to achieve the target .
"We have initiated the project and a budget provision of Rs 1 crore has been sanctioned," additional deputy municipal commissioner Ajay Ramteke said. Apart from this, the corporation is undertaking GIS mapping of properties and has proposed to set up of ten kiosks for payment of property taxes.
According to Ramteke, the corporation will get all the property records scanned before putting them online. The corporation is still to work on bid documents and the tendering process is likely to begin by next month. The project is expected to be completed within a year.
The project has several advantages both for residents and the civic body. Property owners can now get details regarding the property on a compact disc or can also check them online. This could include all details related to ownership, tax payment, arrears and corporation action against the owner. At present computerisation in the department is limited to tax assessment and billing.
For the municipal corporation maintaining lakhs of documents is a cumbersome task. There is also a possibility of documents getting damaged.
Of about five lakh properties in Nagpur, 70,000 of them are commercial. Several properties are unassessed and last year the corporation initiated a drive to bring all such properties under the tax net. About 40,000 unassessed properties were identified and assessed.
In 2006-07 the Nagpur Municipal Corporation earned Rs 74 crore in property tax—no change over the previous collection. The corporation had estimated Rs 108 crore in property tax but it failed to achieve the target .
Source:Times of India, 9 May, 2007
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Wednesday, April 11, 2007
UK REALTY FIRM TO INVEST 250MN POUNDS IN INDIA
A UK-based property investor plans to invest 250 million pounds in India's booming real estate sector in the next five years.
"In the next five years we are planning to invest 250 million pounds in India," Suchit Punnose, Director Investments of Red Ribbon UK Fund.
Of the total amount, 50 million pounds would be invested in budget hotel chains all over India, 50 million pounds in developing resorts in Kerala, 50 million pounds in student accommodation and 100 million pounds in commercial properties.
The first budget hotel would be commissioned in Cochin by July this year.
The company has identified land to build a 300-room resort in Kerala and the land acquisition would be completed in the next three months.
In addition, Red Ribbon UK Fund also have plans to set up a pre-fabrication building construction factory in Kerala "which we hope to use to rapidly expand our footprint in India," the official said.
Regarding student accommodation, he said they would identify 50 top universities in India and build hostels and dormitories next to the campuses.
One million pounds would be earmarked for each of the 50 sites, he added.
The company's investment plans further include building of retail parks, keeping in view the requirements of leading bluechip companies in India.
"In the next five years we are planning to invest 250 million pounds in India," Suchit Punnose, Director Investments of Red Ribbon UK Fund.
Of the total amount, 50 million pounds would be invested in budget hotel chains all over India, 50 million pounds in developing resorts in Kerala, 50 million pounds in student accommodation and 100 million pounds in commercial properties.
The first budget hotel would be commissioned in Cochin by July this year.
The company has identified land to build a 300-room resort in Kerala and the land acquisition would be completed in the next three months.
In addition, Red Ribbon UK Fund also have plans to set up a pre-fabrication building construction factory in Kerala "which we hope to use to rapidly expand our footprint in India," the official said.
Regarding student accommodation, he said they would identify 50 top universities in India and build hostels and dormitories next to the campuses.
One million pounds would be earmarked for each of the 50 sites, he added.
The company's investment plans further include building of retail parks, keeping in view the requirements of leading bluechip companies in India.
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