One of Lutyens' Delhi's much sought after addresses, 1 Prithviraj Road, is being put up for sale. Anil Thadani, the founder of private investment advisory firm Schroder Capital Partners, is the owner of the property, which is just under one acre. Sources told Business Standard that the property was being valued at Rs 60-80 crore (Rs 600-800 million).
Despite private sector developer Delhi International Airport Ltd bracing for a long and foggy winter with added infrastructure, the shortage of CAT III pilots in some airlines could still mean long delays for passengers.
DLF Ltd is acquiring the privately-held super luxury resorts and spa chain Singapore-based Amanresorts for around $250 million.
Bharti Airtel and United Breweries have expressed interest in acquiring, respectively, the Delhi and Bangalore or Mumbai teams in the impending Indian Premier League for Twenty20 cricket matches.
As the demand for air travel picks up in the smaller towns across the country, travel portals are aggressively moving into these markets outside the six metros wooing aspirant air travellers with easier booking facilities. Most of the prominent travel sites like makemytrip, yatra and cleartrip claim that the places to look at now are smaller cities like Varanasi, Surat, Chandigarh, Baroda, Ludhiana, Vizag and Coimbatore.
A disclosure on its land reserves by the joint venture firm Emaar MGF has sparked off a debate on whether a real estate company with foreign investment can own agricultural land in India. Dubai-based Emaar holds around 41 per cent in the joint venture that is expected to raise Rs 5,000 crore (Rs 50 billion) from an upcoming maiden public issue.
After budget carriers, the Indian skies will soon see the first low-cost charter service. Charter operator Club One Air is going to launch its domestic low-cost operations next year at prices 50 per cent below those currently charged by charters. Thus a Delhi-Kullu chartered flight, which costs Rs 60,000 per person at present, would cost Rs 30,000 once Club One Air starts flying.
Real estate firm Parsvnath Developers' quest for a mobile licence seems to have hit a roadblock at the Department of Telecom (DoT). Parsvnath, which is one of the seven realty firms in the fray for mobile licences, hasn't mentioned the business of "telecommunications" in its memorandum of association (MoA).
Leading TV channels will see a blackout of spot advertising from midnight tonight after Hindustan Unilever, Procter & Gamble, Airtel, Pepsi, Coca-Cola and Reliance Communications, among others, directed their media-buying agencies not to book such advertisements on 16 news and entertainment channels, including NDTV, Network 18, Zee News, Star News, starting October 16.
An assorted bunch of farmers, small traders and non-government organisations (NGOs) have trained their guns on a legislation that allows private companies to directly procure produce from farmers. Termed the Model Agriculture Produce Marketing Committee (APMC) Act, the legislation was drawn up by the central government a few years back.
This holiday season air travellers will not get rock-bottom prices like Re 1 or Rs 99. In all likelihood, they will have to fork out 10 per cent more for tickets than last year. SpiceJet executives said the fare war was over and average fares across the country would now go up
AT&T has also applied for a universal access service licence (UASL), which allows operators to offer services in both GSM and CDMA technology, with the Mahindra & Mahindra group, for 22 circles. The US company, however, has stipulated that it wants a majority equity stake in the mobile venture.
Private airport developers in Delhi, Mumbai, Hyderabad and Bangalore, say landing and parking fees account for a significant proportion of revenues, so offering these services free would be unviable.
The project will entail an investment of over Rs 60,000 crore (Rs 600 billion) and will be developed in a 50:50 joint venture with the Dubai-headquartered Limitless Holdings, a sister company of Nakheel and a part of the diversified Dubai World group
About 50,000 to 100,000 people - representing associations of farmers, traders, hawkers, and even chemists from all over India - will converge on Mumbai's Azad Maidan to demand that big corporations quit the retail business.
The company sacked nearly 900 employees and shelved its investment plans in the state, which included nearly 200 Reliance Fresh stores over three years and a back-end logistics chain.
What is more, the training period in the US academies is six months, while it can take up to two and a half years in India. According to norms laid down by the DGCA, one can get a license only after completing 200 hours of flying.
Despite adequate capacity, the India-Gulf market has been growing at a steady pace. Traffic from India to the Gulf increased by 30 per cent last year, while international traffic growth average was 15 per cent.
LVMH, which has brands like Christian Dior, Fendi, TAG Heuer and Dom Perignon in its stable, is planning to float a 1 billion private equity fund for emerging markets in Asia, of which 40-50 per cent will be dedicated to India.
Having completed the country's largest initial public offering of $2 billion (about Rs 8,200 crore), DLF Chairman K P Singh is getting ready to raise a similar amount in Singapore.
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