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Keys Hotels, one of the leading players in the mid-market brand of New York-based Berggruen Hotels, has announced plans to develop 15 hotels across India in the next three years with a total investment of Rs 550 crore.
The Confederation of Real Estate Developers’ Association of India has expressed concern over “painting” the ‘loan-for-bribe’ as a scam. It says such negative projection would lead to drastic reduction in credit for real estate companies.
Kolkata is fundamentally a Tier II city, and its real estate market is not as volatile as those of the primary cities. Because of this, Kolkata’s residential property sector was not as seriously impacted by the nationwide slump in the real estate market as cities like Mumbai, Delhi, Pune or Hyderabad.
The final 2010 edition of Global Market Perspective provides our view on the likely shape of commercial real estate markets across the globe in 2011. Over the next 12 months we expect to see a much greater divergence in real estate activity and performance.
Naturally, the IT industry is not comfortable with seeing the STPI scheme go. It was slated for expiry in 2009, but the industry managed to wangle two extensions for it. The Government has provided an alternative in the form of Special Economic Zones.