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REALTY SECTOR UPBEAT ON I-T EXEMPTION

Ramprasad Padhi — Sun, 02 Mar 2008 12:10:00 GMT

Realty majors found cause to cheer the budget on concessions extended to other sectors. Ravi Ramu, Director, Puravankara Projects Ltd, said reverse mortgage proceeds not to be treated as income tantamount to a tax free pension for home owners post-retirement and should provide a fillip to home builders, since owning a home in old age has now become more attractive from a return, and an old age financial security perspective. The introduction of a right of set-off of dividend distribution tax paid...(read more)

Announcing the New Township in Panvel - Ideal for investment

Ramprasad Padhi — Sat, 16 Feb 2008 11:06:00 GMT

The Jewel in the Crown for Investors

• 1,500 sq. ft. apartment "Colonial Art Deco Buildings" - MLS® Rs5,500,000 INR - Price yet to be Announced

Mumbai Pune Expressway , Panvel - Hirco Plc (AIM:HRCO.L), the investment vehicle for Hiranandani, India’s largest developer of prestigious mixed-use townships, is shortly announcing a £150 million Residential Township (“Panvel Residential”) development project located in Panvel, in the Mumbai Metropolitan Region of India.

The township itself is strategically located near the planned second Mumbai International Airport, major railways and is within driving distance of Mumbai’s central business district.
Panvel Residential is a development consisting of 18.3 million buildable square feet of residential and retail space on total of 1200 acres of land in Panvel, a rapidly growing corridor in the Mumbai Metropolitan Region. It would be the biggest in terms of Township size surrounding Mumbai.

The preliminary master plan of the township development calls for a mix of flats, townhomes and villas, designed to capture the increasing pent up demand for these types of residences. The large acreage allows for attractive, large open spaces with park-like settings and pedestrian corridors, offering a premium lifestyle at affordable prices.

The Panvel development will certainly be one of the foremost communities in Mumbai and the country.”

Highlights of the Residential Township
The township is expected to benefit from the strong growth in the Mumbai – Pune corridor, which is becoming a preferred location for Mumbai’s growing middle class segment. Key features of Panvel Residential are expected to include primary and secondary schools, healthcare facilities, a hospital, community centres, sports centres, and socio-cultural activity venues.

In line with Hiranandani’s sustainable building philosophy, the township will also have a backup power substation, and will have its own water storage and wastewater treatment facilities. The all inclusive township will have its own bus terminal and will boast sufficient parking to support its population. Further luxury features include entertainment centres

www.mumbaiproperties.com

REALTY SECTOR UPBEAT ON I-T EXEMPTION

Announcing the New Township in Panvel - Ideal for investment

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