Bangalore Economy and Real Estate thread II

[engineer.akash]

India’s First Nano Park to Come up by 2011 in Bangalore
3rd Bangalore

BANGALORE: At a press conference in the Bangalore city on Friday, scientist C N R Rao, who heads the State vision group on nano technology said that the Bangalore will host India’s first nano park by 2011.

“There have been some delays earlier. But, the Nano Park will come up by 2011. The park will host several industries related to nano science and technology. The park will provide opportunities for cutting-edge research work in these exciting fields,” said Rao.

However, as of now there is no information on estimated cost that is likely to be spent on constructing the park. In 2007, the state government had identified a 15-acre plot in north Bangalore to build the park, but the plan got delayed due to some reasons.

CNR Rao made these comments during the announcement of the third edition of Bangalore Nano-2010, the two-day meet on nanotechnology which is scheduled on December 8 and 9, 2010 at Lalit Ashok. The focal theme of the event is ‘Frontiers of nanotechnology: Impact on India.

The third edition of the ‘Bangalore Nano’ is being organised by the Karnataka State IT, BT and S&T department. The two-day event will have a balanced mix of papers and presentations on research, industrial and commercial use of nanotechnology. The two-day event is expected to see participation of nanotechnology experts from across the globe.

The event will see RICH or the Research Industry Collaboration Hub for the first time. The event will also provide an opportunity to showcase exciting nanotechnology products. The Bangalore nano national award and emerging entrepreneur award will also be announced on these days.

Rao, while addressing the press conference said, “Nano science and technology is an exciting area. Nanotechnology-related research works have gone up hugely across the world in recent times. However, in India, very few people are engaged in the field. We need to bring in more young people in the area of nano science and research.”

Source

[rakshit gowda]

Bangalore named one of the best places in the world to do business in the wired world

http://money.cnn.com/galleries/2007/...iz2/index.html

[gentem]

Best places to do business in the wired world
Business travelers are as likely to find themselves in Seoul or Bangalore as they are on Sand Hill Road. But where to meet, eat and check e-mail? Not to worry. Our city-by-city list details the best places to get things done, no matter where you are.

Bangalore, India (1)


The city is home to Infosys, Google's Research and Development Center, and some of the world's most talented (and inexpensive) software engineers.

How to get around: Forget public transportation. Auto-rickshaws are everywhere and charge about $1.50. Taxis are easily found at hotels and taxi stands, and a car with a driver costs about $3.50 per hour or $9 for a four-hour tour. Try Hertz for rentals (476 Adugodi-Koramangala Main Road; 91-11-4184-1212).

Where to find free Wi-Fi: Coffee World (86 Brigade Road; 91-98-8029-8505) is an uncrowded chain of living-room-style cafes with creamy frappés and sweet treats.

Where to get a trim: Bangalore has hundreds of small barbershops offering haircuts for less than a dollar, but most Westerners pay $10 at Bounce (First Floor, Magnolia Towers, Vittal Malya Road; 91-80-4132-9100).

Best place to get down to business: Sunny's (34 Embassy Diamante, Vittal Malya Road; 91-80-4132-9391) serves European and Indian food and is popular with the IT crowd. It's relatively quiet, so you can talk.

Best place to celebrate closing the deal: The 80-year-old Mavalli Tiffin Rooms (Shop 14, 11 Lalbagh Road, Wilson Garden; 91-80-2222-0022) is famous for its South Indian food. It's also cheap. The Thali meal - with vegetables, lentils, bread and rice - costs about $2.

What you might not know: Residents call their city Bengalooru. Like Bombay (now Mumbai), the city was renamed to make it sound more Indian and less British.

2007 report..

1. Bangalore
2. Barcelona
3. Helsinki
4. Honk Kong
5. London

[engineer.akash]

Originally Posted by gentem

2007 report..

1. Bangalore
2. Barcelona
3. Helsinki
4. Honk Kong
5. London

It is in alphabetical order

[rakshit gowda]

Originally Posted by IndianGangsta

Why no skyscrapers U/C in bangalore?

Because Bangalore city is not as densely populated as Bombay. same case with Chennai or Hyderabad or even Delhi for that matter.

[gentem]

'B'lore is a world-class city, an exceptional success’
Dec 5, 2010, 04.33am IST

India's science & technology capital came in for glowing praise from French President Nicolas Sarkozy during his speech at Isro on Saturday.

"I wanted to start this second visit to India in Bangalore, at the headquarters of the Indian space agency since the ties that France and India are building here in this field serve to further the ideals which form the basis of our friendship: science, youth and the future," he said.

More fulsome praise followed: "I have come to pay tribute to the exceptional success of Bangalore, its inhabitants and its companies, which have transformed this metropolis into a world-class city, one of the major focal points for modern trade." The Indian Institute of Science came in for special mention: "What the French and India can build together is not limited to the space industry. We have established joint laboratories from biotechnology, nanotechnology, water, medicine, environmental protection, food security and the improvement of agricultural yield.

Our relations with the Indian Institute of Science in Bangalore are being strengthened."

The French President also said: "An increasing number of French companies are being set up in Bangalore, the global information technology services capital. They employ thousands of people.

"CapGemini, Altran, Dexia and many other companies have decided to bank on India in order to establish their presence," he said.

[engineer.akash]

Singapore ranked best, Manila least preferred for property investments


Posted on 11:04 PM, December 06, 2010

HONG KONG -- Singapore and Shanghai topped a ranking of 20 Asian cities as the best real estate investment destinations, while Osaka and Manila are seen as the least ideal, results of an industry survey released here on Monday showed.

Singapore topped the rankings on the city state’s strong economic growth and brisk activity in the financial and high-tech industries, according to the survey, titled: "Emerging trends in real estate: Asia Pacific 2011," that was jointly published by the global nonprofit Urban Land Institute and PricewaterhouseCoopers.

Shanghai, Mumbai and Hong Kong were the next favorites, according to the study, which is based on the responses of more than 280 property professionals, including investors, developers, property company executives and brokers.

Shanghai dropped to second, from first in the previous annual survey, as the city saw sharp increases in property prices, damping some investor interest.

Even though the survey was carried out before Hong Kong announced its harshest tightening measures to cool its red-hot residential market a few weeks ago, it would not have affected the final standings, executives involved in the survey said.

"It’s a concern and certainly affects residential developers, but I don’t think it will change the rankings," Stephen Blank, senior fellow at the Urban Land Institute, told Reuters after a news conference. "Residential doesn’t drive the market."

Mr. Blank said it was possible that Asian governments would unveil more policies to cool their markets, but the strength of the economies would be the fundamental driver for investment decisions, especially in the commercial real estate sector.

"There is a great feeling of uncertainty because it is very hard to know what the potential changes in regulations are going to be," Mr. Blank said.

"Regulations come and go. In Asia, governments turn things on and turn things off very quickly."

Based on the survey that looked at 20 Asian cities, investors were least keen on investing in Bangkok, Auckland, Osaka and Manila due to factors like office space oversupply and stagnant commercial rents.

Manila actually kept its 20th rank in terms of investment interest from last year.

But the same report said that "a spike in building is projected in 2011" in Manila.

This, it said, gave Manila the largest gain in rank for development prospects, moving the Philippine capital to 11th place in this regard.

Ranked better than Manila in terms of development prospects were, in descending order: Mumbai, New Delhi, Shanghai, Singapore, Melbourne, Ho Chi Minh City, Beijing, Guangzhou, Bangalore and Jakarta.

Ranked below Manila in this regard were, in descending order: Hong Kong, Kuala Lumpur, Taipei, Seoul, Sydney, Bangkok, Auckland, Tokyo and Osaka.

-- main report by Reuters

http://www.bworldonline.com/main/content.php?id=22460

Mumbai still rules in India,New Delhi ranks 2 in development prospects and Bangalore ranks 9

[engineer.akash]

Karnataka govt allocates 14 acres for Indian Institute of Nano Science and Tech

Wednesday, December 08, 2010 08:00 IST
Nandita Vijay, Bangalore

The Karnataka government has allocated 14 acres of land to set up the Indian Institute of Nano Science and Technology (IINST) scheduled to come up on Tumkur Road in Bangalore.

The IINST will see Bangalore emerge as a nanotech hub and that will give a major boost to the growth of nanotechnology. In fact it was Prof CNR Rao. National Research Professor and Linus Pauling, Research Professor, Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) and head of Vision Group on Nanotechnology who have been pursuing for a dedicated institute to carry out research and training.

Bangalore is already the hub of several advanced life sciences research initiatives. It is home to three internationally recognized research institutes: Indian Institute of Science, National Centre for Biological Sciences and the Jawaharlal Nehru Centre for Advanced Scientific Research. In order to set up the IINST, the Central government has chipped in Rs. 100 crore to pursue the setting up the Institute. The new Institute will a big boost for the scientific activities in the field of nanotechnology, Prof Rao said.

As a science, nanotechnology provides significant benefits to a country like India. The country has the existing expertise in information technology and biotechnology which would allow it to have a natural shift towards nanotechnology, he added.

Nanotechnology is capital intensive in terms of research and requires advanced and high tech instrumentation. Being innovation driven, the nano science requires long gestation period too. From novel drug delivery and medical devices, use of nanotechnology will allow development of kits which are efficient and economical in the long run, said Prof. Rao.

With third edition of the 2-day Bangalore Nano 2010, to commence from December 8 will see a large congregation of international experts deliberate with the Indian researchers to take the pharma and medical sciences to look at nano particles and nano materials to speed up diagnosis and provide faster treatment options. The setting up of the IINST will give an impetus to the scores of nano biotech products under development. Currently, the work in nanotechnology is happening in the labs and are being up-scaled into the start-up companies, said Prof. Rao.

According to a section of experts, US accounts for 65 per cent of the nanotechnology market, followed by Europe with 20 per cent and the remaining with the rest of the world.

Source

Hope Bangalore becomes a Nano tech hub

[LuckyFace]

Bangalore is growing at the moment

[avinash2060]

Xander likely to invest in Mantri

Boby Kurian | TNN

Mumbai: Morgan Stanleybacked Mantri Developers is set to raise Rs 350-400 crore from Xander Group Plc,a private equity fund headquartered in the US,for two large mixed-use developments in Chennai and Bangalore,said a source said.
The transaction will be executed through two separate special purpose vehicles in which Xander will hold 49% stake each,added this source who did not wish to be named as talks were private.Bangalore headq u a r t e re d Mantri Developers was one of the first real estate developers to attract foreign direct investment in the sector when it raised $68 million from Morgan Stanley in 2006.Mantri Developers MD Sushil Mantri said the dealmaking was in an advanced stage but not done yet.He declined to comment further.Once completed,this will be one of the largest PE transactions in the realty sector in recent times.In another sizable deal,TPG Capital is carrying out due diligence to invest $100 million,or over Rs 450 crore,in Shriram Properties,a part of Shriram Group.The PE groups Xander Real Estate Partners,an India focused fund,invests in large township developments,mixed-use city centre projects,hotels and resorts and public-private joint initiatives.In India,Xander has struck a joint venture with the Tatas for a $1-billion retail real estate fund and also works with Swiss hospitality major Swissotel.Tata Groups retail arm Trent has a right of first refusal for anchor tenancy on retail assets financed by Xander Group,which was co-founded by Siddarth Yog and Arthur Segel in 2005.Xander may invest in Mantri Developers upcoming townships at Varthur near Bangalore and on the Old Mahabalipuram Road stretch in Chennai.The project details,however,could not be ascertained at the moment.Mantri Developers is present in Bangalore,Chennai,Hyderabad and Pune with a large portfolio of residential assets.

[engineer.akash]

Residential demand, not pricing, will drive growth

Marked improvement in execution by most builders, project delays reduced; residential space active

We recently visited Delhi-National Capital Region (NCR), Bangalore, and Mumbai as a part of our GS India Property Tour. We visited about 25 sites at various stages of completion, met management teams and property consultants and made some broad industry-wide observations.

As we had highlighted in our 8 November report, we believe that property prices in pockets of Delhi-NCR and Mumbai in particular seem to have peaked, and we expect limited further price appreciation. Prices in Bangalore have remained fairly stable, but further appreciation should be held in check by high supply potential. We observed higher price inflation in city-centre properties during our tour.

We are forecasting a modest 5% price appreciation in our models, but are forecasting volume growth to be more robust.

We have seen marked improvement in execution by most real estate developers and project delays have reduced. In our meetings with various management teams, most developers emphasized their focus on execution and this increased construction activity was fairly apparent in our site visits. We observed the largest increase in activity in Unitech projects on a year-on-year basis.

Most developers highlighted margin risks being posed by rising material and labour costs. In addition to rising labour costs, availability is also becoming an issue as the faster pace of execution has resulted in greater competition to attract labour. Companies such as DLF Ltd, Sobha Developers Ltd, and Puravankara Projects Ltd indicated the need for gradual selling to protect margins in an inflationary environment. We believe that the availability of skilled labour could be a potential risk factor in the execution progress demonstrated by some companies.

While commercial vacancy remains high, leasing could improve in select micro-markets, particularly retail leasing.

In the residential space, there is good construction activity across most locations.

NCR: We observed finishing activity across delayed projects in Gurgaon. We observed considerable price appreciation of 40%-plus across various locations in Gurgaon, which is partly driven by its re-rating as a preferred destination for business in the north. There was heavy incoming traffic from Delhi in the morning, indicating Gurgaon has become an important commercial destination.

Secondary pricing has now increased by at least 50% to about Rs.14,000 per sq. ft, indicating some pricing convergence in south Delhi.

Bangalore: Various management teams are indicating an increase in construction costs by 15%-plus, driven primarily by an increase in cement costs.

Most companies indicated a large launch pipeline. We expect completions in Bangalore to drop sharply after mid-2011 as there have been very few launches since early 2008.

We observed large price increases in central Bangalore versus moderate price increases in most surrounding locations.

Mumbai: We observed a desire to extract better pricing than to reduce inventory in most locations.

We also saw rapid price inflation across most locations, with pricing in Dombivali (40km from Nariman Point) at above Rs.3,000 per sq. ft.

There are a large number of new launches in the $2 million and above segment.

We see some real estate companies now helping infrastructure development, especially if the company has a substantial interest in the development of a particular area in order to increase connectivity and, thereby, its selling prices.

DLF plans to invest Rs.150 crore in a road that would make the connection between the Delhi-Gurgaon Expressway and Golf Course Road signal-free. It plans to hold a 30% stake in intra-Gurgaon metro, with DLF’s contribution being land.

BPTP Ltd has constructed a small bridge over the Yamuna canal, aiding development of the area adjoining the bridge.

Jaypee Infratech Expressway has opened new development areas between Noida, Greater Noida and Agra.

Lodha Group plans to increase the frequency of trains between its project near Dombivali and Borivali stations.

Edited excerpts from a report by Goldman Sachs. Your comments are welcome at mintmoney@livemint.com

http://www.livemint.com/2010/12/0819....html?atype=tp

[engineer.akash]

RMZ Corp buys 25 acres from Adarsh

Debasis Mohapatra / Chennai/ Bangalore December 08, 2010, 0:07 IST

Bangalore-based real estate developer RMZ Corp has bought around 25 acres of land in the outer ring road area of the city from another city-based developer, Adarsh Developers, in a bid to increase its footprint in the city.

As per highly-placed sources close to the development, the land deal was clinched with an approximate value of Rs 4-5 crore per acre.

“RMZ was looking for land in the recent past in the Bangalore market. They had also floated advertisements for the same. The present land parcel, which is in the outer ring road area of the city, is likely to be developed as a Special Economic Zone (SEZs) in the near future,” an industry source said.

He also said that Adarsh Developers had around 300 acres of land in the outer ring road area, of which the company had monetised this land parcel. While calls to Adarsh Developers remained unanswered, company officials from RMZ Corp refused to comment on this matter.

Of late, SEZs are among the preferred locations for the IT companies than STPI in which the tax concession period will be run out soon.

“RMZ Corp, which has a special focus on SEZs as part of their overall real estate portfolio, is trying to cash in on this rush for space in the SEZs,” an analyst in a real estate consultancy firm said.

The company, which has less land parcel in comparison to its peers in the Bangalore market, is also looking at scaling up its land bank in the near future, he added.Earlier, the developer had bought back its 50 per cent stake from AIG Global Real Estate Fund for its mall project in the city.

RMZ Corp, which has its presence in cities like Chennai, Hyderabad, Kolkata and Pune, has acquired and developed over 13 million sq ft as of now and manages a property portfolio over $3 billion across India.

The company plans to develop around 64 million sq ft in verticals like office spaces, retail and homes in next five years.

Business Standard

[gentem]

IIM Bangalore ranked amongst top 25 business schools in world
PTI, Dec 9, 2010, 07.23pm IST

BANGALORE: The Indian Institute of Management Bangalore (IIM-B) has been ranked 24th while IIM-Ahmedabad ranked 55th in a worldwide survey of 'Universal Business Schools with major international influence'.

The results of the annual survey 'Eduniversal Worldwide Business Schools Ranking 2010' conducted by French consulting firm SMBG amongst deans of 1000 business schools were officially announced in Prague at the third Eduniversal world convention, IIM-B said in a statement.

"This is the third consecutive annual recognition of IIM-B as the number one business school in India," it said.

The institute has been awarded '5 Palmes', given to the top 100 business schools. The ranking positions IIM-B in the top 25 amongst 100 best business schools worldwide. Notably, only two Indian B-Schools feature in the Top 100.

"The ranking by Eduniversal positions IIM-B in the first quartile of the 100 best business schools worldwide. This acknowledgment from an independent international firm consolidates our status as a leading international management school," Professor Pankaj Chandra, Director (IIM-B) said.

"Over the past year we have made significant enhancements to faculties, curriculum and infrastructure. We have obtained EQUIS accreditation and are taking steps to further diversify our courses so that we continue to remain the business school preferred by post-graduate and doctoral students throughout the Asian region," he said.

The ranking uses a comprehensive methodology that takes into account all the aspects of a business schools' influence on three different levels: international recognition through accreditations, memberships and international, regional and local rankings; international awareness through votes of the 1,000 deans and suggestions from members of the international scientific committee appointed by Eduniversal.


Read more: IIM Bangalore ranked amongst top 25 business schools in world - The Times of India http://timesofindia.indiatimes.com/c...#ixzz17cwJhwAv

good news for 3 idiots' college still considered as no.2 only..

[sunilkumar]

Cable & Wireless Worldwide, is setting up a new Global Markets Solutions Centre (GMSC) in Bangalore, India. GMSC will serve as an innovation hub for offshore product development for the company’s global markets – those outside of the UK including Asia Pacific, Middle East, Africa and North America.

The Bangalore center will primarily look at developing new, standardized and repeatable solutions specifically made for the company’s customers in global markets. These solutions will be developed by combining the strengths of C&W Worldwide’s core product development, consulting, engineering, and emerging technologies teams and some will be built in collaboration with C&W Worldwide’s clients and business partners across the globe.

More Info:http://informationweek.in/Software/1..._in_India.aspx

[sunilkumar]

IBM and IG3 (Indian Green Grid Group) recently announced that they have entered into an agreement, in which IBM will design a green data center for IG3. IG3 is constructing one of the largest data centers in the Asia Pacific region. Located in Bangalore it represents the largest investment so far in this sector in India. The proposed size of the data center will be approximately 8.5 lakh square feet.

As part of the deal, IBM will design IG3’s internet data center with standards that are highly efficient and reliable. The data center will be highly resilient and have the environmental protection advantages of IBM's industry-leading data center design characterized by energy efficiency, green technologies, scalability and the latest power and cooling technologies.

More info: http://informationweek.in/Software/10-12-09/IG3_selects_IBM_for_new_green_data_center.aspx

[engineer.akash]

C&W expands India operations
December 9 2010 - 11:55 am ET | Dan Meyer | RCR Wireless News

Cable&Wireless Worldwide plc announced plans to set up a global markets solution center in Bangalore, India, that will serve as a headquarters for the company’s “offshore product development” for markets outside of the United Kingdom.

C&W said the Bangalore center will primarily look at developing new, standardized and repeatable solutions specifically made for the company's customers in global markets.” The center will also work with C&W’s range of IP services for the first time outside of its U.K. headquarters.

“I’m always amazed at the speed and cost efficiency of product developments that are driven in the Asia region,” said Alex Connors, head of International Product Management for Cable&Wireless.” Not only do we have a wealth of talent within our organization here, but we have also identified a range of local companies who we will work with to drive innovation and development. The ultimate goal is to deliver services that meet the demands of our international customers through service customization and rapid new product development.”

C&W claims to own the largest fiber network in the United Kingdom and either directly or through partnerships has network assets in 153 countries.

[avinash2060]

More IT companies are moving into SEZs as part of their office expansion plans,says Leena Mudbidri


After the initial slowdown in the office space market last year,there has been a gradual revival of this sector with corporates going ahead with their expansion plans.The extension of the STPI tax benefit scheme from 2011 to 2014 is seeing an upsurge in the number of IT and ITeS companies moving into special economic zones SEZs).

SEZs spurring growth


Currently,there are 14 operational IT/ITes SEZs in the city with a total of 60 units operating within these campuses,employing around 90,000 totally.Another 35 SEZs have been notified and are expected to employ 4.37 lakh people in their units,according to the Department of Industry and Commerce website.
The availability of large land parcels on the outskirts in north Bangalore,along the Outer Ring Road (ORR),Whitefield,Bangalore-Mysore highway and Electronic City make these localities conducive to setting up SEZs.
Shrinivas Rao,CEO,Vestian Global Workplace Services,says,"The ORR will continue to remain an attractive IT/ITeS growth corridor of Bangalore and improve further with planned completion of numerous flyovers and underpasses between Hebbal and Silk-Board Junction by end of 2011."
Bangalore north is where hectic IT-spurred ancillary industrial activity is taking place.Several major projects have been proposed in the region.Karnataka State Industrial Investment and Development Corporation (KSIIDC) owns around 413 acres of land adjoining the Bangalore International Airport of which 300 acres has been earmarked for the Devanahalli Business Park.The park will be developed on BOT basis through the private sector on behalf of the government.Currently,the park is awaiting government approval.
The aerospace SEZ planned across 1,000 acres has received formal approval.Three major manufacturing units will manufacture aircraft engines and aerospace components.The Karnataka Industrial Areas Development Board (KIADB) is developing an exclusive industrial estate on 900 acres for electronics hardware and IT/ITeS sectors,adjacent to the Bangalore International Airport.A large number of IT and electronics hardware units have been given formal approval to set up operations in these industrial areas.
The State Government has decided to set up the Information Technology Investment Region (ITIR) on 10,000 acres with an investment of Rs 1 lakh crore in two or three phases.
The Industrial Finance Corporation of India Limited (IFCI) has proposed to establish a global financial district on 200 acres of land near Devanahalli Industrial with an investment of Rs 1,000 crores.This hub will house corporate arms of all leading banks in India,insurance companies and financial companies that deal with needs of industries.Prospective entrepreneurs wanting to invest in the State would get all clearances for their various needs at this hub,including clearances from bankers.The project would be executed either as a joint venture or a PPP model.

Emerging warehousing and logistics hubs


Bangalore's industry watchers project the city as an emerging logistics hub riding on the success of the ancillary industries created primarily by the IT industry.Anshuman Magazine,Chairman & MD,CB Richard Ellis,South Asia Pvt.Ltd.says,"Presence of SEZs for manufacturing,multi-product and sector-specific SEZs,augmented with improved infrastructure developments and realisation of cost benefits of outsourcing non-core functions such as logistics,will usher in new growth trajectory in the areas around."
Bangalore continued to witness increased market activity in 2010."The industries like supply chain and logistics,and manufacturing,accounted for 20 percent of the total leasing activity witnessed during this financial year in Bangalore,while it was 12 percent for the same period during 2008,indicating that supply chain and logistics,and manufacturing industries are playing a significant role in creating demand for commercial office space,"says Srinivasa Reddy N S,Manager-Research and REIS,Jones Sang LaSalle.
Major automobile manufacturing and auto components manufacturing units are based in Bidadi,Jigani,Anekal,Nelamangala,Bheemahalli and Bommasandra.The emerging logistics belts are Whitefield-Hoskote,Electronics City-Bommasandra,Peenya-Nelamangala,and BIAL-Devanahalli.
In north Bangalore,four logistics parks spread across 140 acres are being developed on a public-private partnership (PPP) basis by the government's Infrastructure Development Department.

Increase in office space demand


Bangalore remained the most active office market in India with the third quarter of 2010 recording the highest absorption for the year at 3.31 million sqft with pre-committed office space absorption recorded at eight lakh sqft."The Bangalore market has traditionally shown high office space absorption,with the IT / ITeS sector predominantly driving the office market,"says Sumit Rakshit,Executive Director,Occupier Services,Cushman & Wakefield."Significant to note in this quarter was the growth in size of space take-ups,with multiple one lakh sqft plus transactions.Given that demand is likely to see a continued rise over the next few months and supply continuing to support the demand,the Bangalore office market will maintain stability in values,"he adds.

http://lite.epaper.timesofindia.com/...=&publabel=TOI

[gentem]

From mental asylum to national importance
Mathang Seshagiri, TNN, Dec 10, 2010, 12.14am IST

BANGALORE: Once a mental asylum, the National Institute of Mental Health and Neuro Sciences (Nimhans) is now at the cusp of being declared an institution of national importance.

A bill to give the 36-year-old institute its new sobriquet was introduced in Rajya Sabha on Tuesday. Nimhans Bangalore bill, 2010, will usher in changes that the institute has been longing for years: autonomy to evolve its own courses, freedom to pursue inter-disciplinary research and innovation and greater financial flexibility.

Nimhans joins the unique club of only four medical institutes across India to have this status. Others are: All-India Institute of Medical Sciences ( New Delhi), Post-Graduate Institute of Medical Education and Research (Chandigarh) and Jawaharlal Institute of Post-Graduate Education and Research (Puducherry).

WHAT IT MEANS

Once approved, the institute needn't seek approvals of statutory bodies like the Medical Council of India, Nursing Council of India, Rehabilitation Council to India or the University Grants Commission to offer new courses. All degrees, certificates and diplomas will be deemed to have been approved by these bodies. The institute has already lined up a bouquet of new courses and drawn up elaborate plans to increase intake.

The institute's entire governance structure will be overhauled. The board of management headed by the director will be replaced by a governing body headed by the Union health minister. For the first time, it will have three MPs as part of the key decision-making body. Seven scientists, including one non-medical researcher representing Indian Science Congress Associations, will be part of the governing body. The existing society of the institute will be incorporated into a body corporate and all properties of Nimhans currently with the Union health ministry will be transferred to the institute.

According to the bill, the objects of the institute include "developing and attaining high standard of medical education, training of personnel in important branches of health activity, attaining self-sufficiency in the field of mental health, neuro-sciences and allied specialities."

The institute now has 222 students and 140 faculty members (doctors) handling 21 departments.

ONCE UPON A TIME...

The lunatic asylum which started in the latter part of the 19th century was renamed as mental hospital in 1925 by the Government of Mysore. The hospital and All-India Institute of Mental Health established in 1954 were amalgamated in 1974 and Nimhans was set up as an autonomous institute. It was declared as deemed university by the UGC in 1994.


Read more: From mental asylum to national importance - The Times of India http://timesofindia.indiatimes.com/c...#ixzz17g7dsXzw

[gentem]

COMMERCIAL REALTY DRAWS INVESTORS
With the economy showing signs of healthy growth, the demand for commercial property is increasing across cities. Bangalore has led the growth in demand and investing in commercial property promises better returns, writes V Nagarajan

With the surge in demand for leased commercial property, investors and high net worth individuals (HNIs) are back in business in search of lucrative options to invest in. Besides assured returns on leased commercial properties, investors can benefit from the capital appreciation in the medium to long terms. However, a correct tenant mix and location are key parameters while investing in commercial property.
According to industry sources, 26.3 million sqft of absorption of office space has been forecast across major cities in the country for this year. And 48 percent of demand for office space during the third quarter of this year has been accounted for by IT/ITeS sector alone. In fact the IT/ITeS sector continued to dominate the leasing scenario during the first three quarters of this year followed by financial and manufacturing sectors. Bangalore led the leasing activity across cities with 2.6 million sqft of office space absorption during the third quarter of this financial year. The rental levels are likely to notch higher in premium markets during 2011.
Demand for office space is gradually improving with tenants taking up more space at lower rental levels. There has been massive infusion of office space in the country.
http://epaper.timesofindia.com/Defau...Mode=HTML&GZ=T

[sunilkumar]

Since the time REVA began selling EVs, it only has managed to dispatch 3,000-odd units globally. Come 2011, with the help of a new facility in Bangalore capable of producing 30,000 units/annum, and Mahindra’s dealership network, it is looking to sell about 1,300 cars in India alone bringing the grand total to 2,500, reports Business Standard.

The new Bangalore facility will be operational by April 2011 and the first of the new variants to roll out will be the 2-door REVA NXR hatchback showcased at the Frankfurt Motorshow in 2009. Mahindra REVA is expected to get a free run as there are no rivals in the electric car segment here in India. The only company capable of spoiling the party is General Motors, whose electric vehicle prototype is scheduled for only display in April.


Read more: http://indianautosblog.com/2010/12/mahindra-reva-aims-for-1300-units-in-india-next-year#ixzz17iKzaHFO