Quite fed up with the state government's dilly-dally approach in repealing the ULCA in September, while releasing the grant of around Rs 400 crore under the JNURM, the Centre had warned the state government that if it did not repeal the ULCA, funding under the JNURM scheme would be stopped. Subsequently, the state legislature had passed a Bill to repeal the ULCA in the recently concluded winter session of the Assembly.
Chief Minister Vilasrao Deshmukh and other ministers like to boast that of the 450 SEZs coming up in the country, nearly 120 are in Maharashtra. However, since most of the SEZs are single product or IT SEZ, land acquisition is not much of an issue. But in the case of six SEZs, which are multi-product SEZs and where over 1,000 hectares of land have to be acquired, it is proving to be an albatross around the state government's neck.
The Maharashtra government is heavily banking upon Dabhol power plant to start functioning at its full capacity of 2,150 Mw to help the state tackle the 5,000 Mw shortage during peak summer season.
The plant will start functioning to its fullest by the end of January 2008, after delay of one-month from previous schedule.
The Maharashtra government can do little beyond using its good offices to pursue the Bajaj Auto management to revive production at its mother plant in Akurdi, near Pune.
"We will learn from their experiences of becoming crorepatis," he said. Kalbhairva also intends to talk to financial institutions for assistance and is even planning an initial public offer.
The showpiece of the Mumbai Makeover plan of the state government, the Rs 1,300 crore (Rs 13 billion) Bandra-Worli Sealink project has run into rough weather once again. It is likely to miss the deadline of April next year.
It was supposed to start a white revolution in the six most troubled districts of Maharashtra's Vidarbha, where no less than 2,000 farmers have committed suicide in the last six years.
After the controversy over pricing of gas from the Krishna-Godavari basin, the Ambani brothers are locked in another court battle.
Last week, Maharashtra Governor S M Krishna cleared the state's proposal to raise Rs 16,000 crore (Rs 160 billion) through bonds to finance incomplete irrigation projects.
Maharashtra government, which is facing the heat over land acquisition for the special economic zones has written to the Centre asking it to clarify the scope of the term compulsory land acquisition.
The Maharashtra government's plans to tap sugar factories as an alternative source of power to overcome huge power deficit to the tune of 5,000-6,000 Mw, are proving to be a damp squib due to the rising prices of steel and coal.
Farmers will finally have a right to decide if their land can be acquired or not for special economic zones in Maharashtra.
Capping the size of special economic zones to 5,000 hectare may help governments quell social unrest caused by compulsory land acquisition for such projects.
Office rentals in Mumbai are going over the top indeed. Even suburban localities like Goregaon have seen rentals going up by more than 100 per cent, from Rs 75 a sq ft last year to Rs 175 this year.
The New Delhi realty firm is gearing up to float an IPO and has now raised its targetted mop-up to Rs 25,000cr.
The next generation of the Poddar family, the promoters of the Rs 1,500 crore (Rs 15 billion) Siyaram group, is taking charge.
Whether it is jumping from a plane at 10,000 feet or just working away at his latest hospitality project, real estate tycoon Vicky, as Oberoi is fondly known to friends, believes in having fun.
The New York-based real estate investment fund Trinity Capital has lined up $10 billion, which may go up to $12 billion, to develop three satellite cities on the outskirts of three major metros - Mumbai, New Delhi and Bangalore.
When Control Solutions, one of the biggest accounting firms in the US dealing with Sarbanes-Oxley accounting compliance procedures
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