IT Park/IT SEZ Project Chennai

[stevanpaul]

Originally Posted by cofee

Thala,

I think you have misunderstood my comments.(mistaken for Jayak914)

I am not complaing about CMDA or TNHB .

I know they are doing good work on housing and town planning.

CMDA has developed couple of suburbs and HB has developed many excellent towns.

I was pointing out that 220 acers of land Patta given in 7 villages in Soling Taluk was not for TNSCB beneficiaries.

I understand it is Natham Land. I hope it is Grama Natham and not Natham Porompoke.

Grama Natham are land that were bought & sold by Villagers who have lived for centuries/decades.

It is important that Grama Natham land owners are given Patta and regularise their property after the Survey is completed by Revenue department.

Most Goverments do it on a regular basis.

Promboke Natham,Eri Porompoke & Meykal natham are land owned by Goverment and in many cases encroached and built up on by dwellers without paying anything to anyone. Those encrochers apply to Thasildhar for Patta.
They are normaly evicted by the Goverments with great difficulties.
Unfortunately Stalin had made it easier for such encrochers to get Patta (only 5yrs living on land)
Some organized gangs were doing in in DMK period.

I remember reading an article which stated that TNHB has not done land acquisition for the past 25 years. Not sure if they are on right track

[sivagopi]

Originally Posted by varun_smilee

y dont chennai has major IT global players like Juniper, Cisco, Google, Facebook, Microsoft, Yahoo, Adobe etc(all they have here is an small back office probably)

It would be gud to see these kind of product based companies setting up delivery centers here..

I read some where that Google is going to have their office in Chennai. Do any guys know any info regarding this.

[ranga]

Originally Posted by sivagopi

I read some where that Google is going to have their office in Chennai. Do any guys know any info regarding this.

Google says one office in Hyderabad is more than sufficient for India.This was said in a local TV programme in Hyderabad by the company officials.

[karkal]

'Foxconn plant closure in China unlikely to affect Taiwanese firms'

The closure of a large plant by Foxconn, a Taiwan-based company that supplies critical equipment to companies such as Apple (including its iPhone and iPad product range), Sony and Nintendo, is unlikely to affect operations of companies from that country in China, said a senior Taiwan Government official on Thursday.

Speaking to The Hindu on the sidelines of an industrial exposition of Taiwanese companies here, Shih-Chao Cho, Vice Minister, Ministry of Economic Affairs, Taiwan, said “a single incident” of the kind that happened recently in Taiyuan in Shanxi province in Northern China is unlikely to affect its operations in China. “After all, Foxconn employs more than one million workers in China, spread over more than a dozen facilities,” he observed.

Mr. Cho said Foxconn, which has operations in several countries, including Brazil, Europe, Japan, Malaysia and India (in Chennai), is “capable of adjusting output at these locations to manage the shutdown at the Taiyuan plant.” He said the company’s operations in Taiwan were unlikely to be affected. “It does research and development and design activities in Taiwan,” he said.

Mr. Cho, however, admitted that the global economic slowdown does “cause some worry.” “A hard landing for the Chinese economy would affect us also,” he said. He pointed out that nearly 30 per cent of all exports from Taiwan to China were “intermediate goods, which are reprocessed for re-export from China.,” he said. And, China’s exports are affected because of the crisis in Europe. “After all, Europe is China’s biggest trading partner,” he observed.

Taiwanese investors, Mr. Cho said, were “seriously considering relocating operations from China to other emerging markets because of the fear of a slowdown of the Chinese economy,” Mr. Cho said. While exports from Taiwan to developed country markets fell 6.4 per cent during the first half of 2012, exports to emerging increased 12 per cent, he pointed out. Companies in Taiwan were keen on diversifying exports in order to protect themselves from the uncertainties of the global economy, he said. Mr. Cho said the New Delhi-based Indian Council for Research on International Economic Relations (ICRIER) was preparing a feasibility report for an Indo-Taiwan Free Trade Agreement, which is “likely to be ready by December 2012.”

Do any one know if any part of this moved to Chennai ?

[ferrari_fan]

Originally Posted by ranga

Google says one office in Hyderabad is more than sufficient for India.This was said in a local TV programme in Hyderabad by the company officials.

Google already has offices in Hyderabad, Bangalore and Gurgaon. So even now it's not like they have just the one office in Hyderabad (though that is the biggest)...

[designqube]

I've a friend in their hyderabad office.. Doesn't seem like they're keen on Chennai as of now..

[jayak914]

Green pat for International Tech Park Chennai

October 26, 2012:

International Tech Park Chennai (ITPC), a joint venture with TIDCO and the flagship development of Ascendas, a business space provider, has been awarded the LEED Gold certification for Phase II, the Crest building.

The certification is awarded in the category Existing Buildings: Operations & Maintenance (EB:O&M), version 2009 standard. It is also the first multi-tenanted building in India to be certified LEED Gold under the new version LEED EB O&M v 2009 standard.

Built in 2007, the Basement+13 floor building is the second of the three buildings at International Tech Park, Chennai, and offers 730,000 sq ft of Grade A office space. The building has since made several modifications and retrofits to conserve energy and water and also reduce harmful greenhouse gas emissions.

ITPC’s first phase, the Pinnacle building also earned the distinction of being the first multi-tenanted building in India to be awarded the LEED Silver certification in September 2011, by the US Green Building Council (USGBC), in the category Existing Buildings: Operations & Maintenance (EB:O&M), version 2009 standard.

Thomas Teo, CEO Ascendas India Operations, said in a press release, “Emphasis in maintaining the efficiency and performance of facilities helped achieve the LEED Gold certification for the Crest building at International Tech Park Chennai.

The second LEED certification is an important milestone towards achieving our environmental goals for our facility in Chennai.”

LEED (Leadership in Energy and Environmental Design) is an internationally recognized green building certification programme designed by the US Green Building Council.

It is a programme for the design, construction and operation of high performance green buildings. LEED uses a points system for evaluating an existing building's environmental performance in the following categories: sustainable sites, water efficiency, energy and atmosphere, materials and resources, indoor environmental quality and innovation in operations.

Ascendas received the LEED Gold status, in recognition of its achievements in the areas of sustainability and green development and operations.
Breeding success

Ascendas India, the sub-continental arm of Ascendas Pet Ltd develops IT Parks/SEZs, Build-to-Suit and Ready-Built Facilities. Starting with the landmark International Tech Park Bangalore (ITPB), Ascendas has since followed on its success with CyberPearl and The V in Hyderabad.

Source

[jayak914]

Mahindra aims to create pool of one million employable youth by 2022

NEW DELHI: Mahindra Group is setting up its fifth Mahindra Pride School (MPS) in Srinagar. According to a press statement, Anand Mahindra, chairman of Mahindra Group, announced that the aim of MPSs will be to train and create a pool of one million employable youth by 2022.

Other MPSs are located in Pune, Chennai, Patna and Chandigarh graduating 600 students annually from each city, except Chennai where the number is 800.

Source

[jayak914]

Fidelity leads $75M investment in Trivitron; ePlanet, Headland part exit

Medical technology firm Trivitron Healthcare Private Limited has raised Rs 400 crore ($75 million) in a round led by Fidelity Growth Partners India (FGPI). The investment also provides partial exits for ePlanet Ventures and Headland Capital, who invested in Trivitron in 2007.

ePlanet and Headland Capital (earlier HSBC Private Equity Asia) invested $11 million or Rs 50 crore in Trivitron. Kotak Investment Banking was the exclusive advisor to Trivitron on the transaction. Amarchand & Mangaldas & Suresh A. Shroff & Co. acted as the company’s legal counsel.

With the new fund infusion, Trivitron aims to become a global player in the imaging and lab diagnostics segments through organic growth as well as through acquisition of companies and technologies in Europe and the US, said a statement. The funds will be used to increase Trivitron’s shareholding in Kiran Medical Systems, an international player in imaging accessories, where it acquired a minority stake earlier this year.

The company also plans to expand operations at Trivitron Medical Technology Park and enhance its distribution network in South East Asia, Middle East and Africa. Trivitron aims to close FY13 with pro-forma gross revenues in excess of Rs 700 crore through organic and inorganic routes.

Trivitron claims to be India’s largest exclusive pan India wholesale distributor and after-sales support provider of medical equipment and devices for the past fifteen years. Its areas of expertise include imaging, lab diagnostics, cardiology, critical care, renal care, operating room and ophthalmology equipment.

Trivitron has set up a number of JVs and subsidiaries for manufacturing medical equipment. These include Trivitron Medical Technology Park, a 25-acre state-of-the-art manufacturing facility in Chennai. It has JVs with Hitachi-Aloka (Japan) for manufacturing ultrasound equipment and with Biosystems (Spain) for lab diagnostics reagents are already operational. It acquired Pune-based X-ray machines manufacturer Vision Engineering in 2008.

Trivitron was promoted by medico entrepreneur Dr. G.S.K. Velu in 1997. Velu has also promoted path lab chain Metropolis Healthcare besides eye-care and diabetes-care hospitals chain Medfort. He has also co-founded a joint venture with the Apollo Hospitals Group for dental clinics (Apollo White) and dialysis centres (Apollo Dialysis).

"The medical equipment sector in the country is still nascent and dominated by imports. We believe that India will follow the same evolution trajectory as other emerging markets like China where large, indigenous manufacturers of medical equipment have emerged over the past decade. Trivitron is well positioned to capitalise on this trend with its unparalleled distribution and service infrastructure that is difficult to replicate,” said Raj Dugar, Senior Managing Director at FIL Capital Advisors (India) Private Limited.

High quality manufacturing efforts of Trivitron’s subsidiaries and joint ventures will allow Trivitron to expand its product portfolio to all segments of the market, he said.

Source

[jayak914]

Newt Global Granted Membership into NASSCOM

Newt Global is granted membership into the National Association of Software and Service Companies. NASSCOM is a trade association of Indian Information Technology and Business Process Outsourcing industries.

Awarded membership in October, Newt Global is proud to be a member of the National Association of Software and Service Companies (NASSCOM). NASSCOM is a trade association of Indian Information Technology and Business Process Outsourcing industries. Established in 1988, the association is designed to stimulate business and trade in software and services, and its membership currently stands at 1,350 members. NASSCOM operates on a global level and serves to increase international business and trade.

The induction into NASSCOM marks Newt Global Private Limited’s increasing growth and development within the Indian IT sector. The Indian branch of Newt Global started modestly in 2010 with a ten person team in a small, rented office in Chennai. Despite its small size, the Indian branch soon experienced tremendous growth and within a year expanded to a state of the art facility in the IT Corridor at Old Mahaballipuram Road (OMR) with a seating capacity of over two hundred and fifty seats. Chennai office is slated to be expanded again in the near future to a 1000 people facility.

The membership allows Newt Global to participate in industry forums geared to shape industry development and build specific initiatives to help leverage the industry potential. Membership also enables further international networking between NASSCOM members and overseas companies to help increase Information Technology business and transactions as well as fosters growth on an international level.

To be an eligible member of NASSCOM, the IT Company must have annual revenues exceeding one crore rupees, or approximately two hundred thousand US dollars.

“We are excited to be a part of NASSCOM, and being granted membership is a great sign for where Newt Global Private Limited is heading in the future,” said Satish Goel, co-founder and COO.

NASSCOM is a not-for-profit association geared at generating and sustaining business for Indian Information Technology and Business Process Outsourcing companies. Newt Global’s acceptance into the association is a hallmark achievement for the Indian branch of Newt Global.

“Newt Global has only been in India for two years and we are already achieving so much. Newt Global India facility already is home to our Mobile Technologies innovation incubation center as well as our Quality Center of Excellence. We are excited for what the future holds,” said Neeta Goel, President and CEO.

About Newt Global Consulting, LLC
Newt Global Consulting is a MBE/WBE/HUB Certified Global IT services company headquartered in Irving, Texas and is a Tier-1 vendor to multiple Fortune-500 clients. They specialize in a range of IT services on a broad range of technologies, mobile development, QA, and program management. Newt Global leadership is committed to staying at the forefront of technology, and has invested in building a mobile development/testing framework and has recurring training programs in both iOS and Android.

[karkal]

Originally Posted by jayak914

Fidelity leads $75M investment in Trivitron; ePlanet, Headland part exit




Source

This news should be in Healthcare.

[jayak914]

Originally Posted by karkal

This news should be in Healthcare.

fidelity is part of FIS Global ,that's why I added.

Any how ,Ok its realted Medical only.

[jayak914]

Shriram to settle Rs 600 cr debt with Hypo of Germany

Shriram Properties, the Bangalore-based realty arm of the highly diversified $9 billion Shriram Group, is understood to be close to settling a Rs 600 crore debt which it had raised from Germany-based Hypo Real Estate Group during late 2007. It is understood that Shriram Properties will be using proceeds from selling one of its IT SEZ in Chennai for Rs 500 crore to Singapore-based Ascendas to settle the debt from Hypo Real Estate.

Hypo Real Estate in addition to Shriram has had exposure to Coffee Day Group’s SEZ development arm — Tanglin Realty to the tune of around Rs 380 crore. Coffee Day Group has since replaced that debt from HDFC Group. The management of Shriram Properties did not respond to queries for this article.

Hypo Real Estate Holding AG is a holding company based in Munich, Germany which comprises a number of real estate financing banks. The company’s activities span three sectors of the real estate market: commercial property, infrastructure and public finance, and capital markets and asset management. Hypo Real Estate is the second largest commercial property lender in Germany and was under severe duress during the 2008-09 recession and the German Government had to bail out the lender by acquiring as much as 90 per cent in this institution. Since then, Hypo has been winding up its positions in markets in which it does not have large exposures.

By settling this long-pending debt from Hypo, Shriram Properties is now turning its attention to raise as much as $100 million through the private equity route for a clutch of projects. Shriram Properties has completed 4.8 million sq ft of residential space and 1.03 million sq ft of commercial space, in addition to 60 million sq ft of built-up area currently under various stages of development across Bangalore,Chennai, Coimbatore, Vizag and Kolkata. It has raised private equity from marquee global investors such as Walton Street Capital, Starwood Capital Group & Sun Apollo for investments in property development.

The company is also involved in developing a mega Rs 5,000 crore 20 million square integrated project in Kolkatta on a land which previously belonged to Hindustan Motors.

Source

Singapore Listed Ascendas India Trust Raises Funds Through Private Placement

The trust’s portfolio comprises of five business parks in India, namely the International Tech Park Bangalore, International Tech Park Chennai, and CyberPearl, The V and aVance Business Hub in Hyderabad. As at 31 March 2012, the portfolio had total floor area of 6.9 Mn sq. ft.

Recently in July this year, Ascendas was planning to acquire Shriram Properties’ IT SEZ located in Chennai fro R500 Cr. (link)

Source

[jayak914]

Ajuba Solutions opens new unit in Chennai

Chennai, Nov 2: Ajuba Solutions today inaugurated its new facility in Chennai.

A provider of healthcare revenue cycle management services to healthcare institutions, the US-based Ajuba inaugurated the 400-seater facility located at AKDR Towers, Old Mahabalipuram Road.

Nicholas Manring, Chief of Consular Services, US Consulate General, Chennai, inaugurated the facility.

Source

[murlee]

Reliance Industries in talks to buy Leela’s IT park

Mukesh Ambani-controlled RIL is in the fray to acquire Hotel Leelaventure-promoted IT park in Chennai for Rs 172 crore, said people familiar with the matter.

The talks are advanced with Hotel Leela's board approving the sale to a preferred bidder last Friday. The IT Park has a built-up area of 2.20 lakh square feet, valuing it at nearly Rs 8,000 per square foot. A top Leela official said no definitive deal has been signed with anyone, adding serious discussions to divest the land assets were underway . An RIL spokesperson, however, refused to comment.

Since the property is classified as an IT park, RIL will have to mandatorily use it for ICT purposes only. "Reliance is now getting ready for the 4G play. We believe there is a lot of IT work for this foray for which Reliance would use the IT Park," sources said. RIL chairman Mukesh Ambani and Hotel Leela's C P Krishnan Nair have strong friendly ties, with the latter publicly stating that Ambani could be a "white knight" if his company was ever a target of hostile takeover.

Diversified conglomerate ITC, which operates a rival hospitality chain, holds a 14% stake in Hotel Leelaventure . The business park is adjacent to the soon to be launched Leela hotel at MRC Nagar in Chennai. Leela Group has been trying to find suitors for the IT Park for nearly a year. It first looked to lease out the property to IT companies which did not fructify. Having caught in a debt swirl, the group decided to sell the park.

"It is an IT park which has higher FSI rules. The end use therefore can't be anything other than IT. Leela has got a good deal as rentals are around Rs 60 to 65 per square foot which translates into a return of nearly 10%," sources said. Nairs-promoted Leelaventure has just concluded the terms for debt restructuring through RBI mandated Corporate Debt Restructuring (CDR) Cell. The hospitalityBSE 0.36 % major had agreed to sell some of the assets to repay debt. Leela has close to Rs 4,000 crore of debt under CDR. Under the terms, Leela has been given an extension of up to eight years for repaying the loan. It has been extended an additional termloan to support its operations.

The company is also selling its land parcel in Hyderabad , where it planned to build a luxury hotel. The group has decided to part develop land adjoining its hotel property in Bangalore for residential projects. It is also looking to develop its land parcel in Pune for residential purposes.

L&T sells Chennai property for 88cr

CHENNAI: Engineering and construction giant, Larsen & Toubro, has agreed to sell its Club House Road property, off the Mount Road, to Tablets India for nearly Rs 88 crore. The transaction values land at nearly Rs 4.6 crore a ground (1 ground is 2,400 square feet).

Interestingly, the price is about Rs 2 crore per ground less than a recent real estate transaction that happened on upmarket Kothari Road in Nungambakkam, where tractor major APC Tractor, a part of TAFE, bought about six grounds from Institute for Financial Management and Research for Rs 40.31 crore. L&T's decision to sell its erstwhile regional headquarters is part of its move to rationalize its real estate holdings. The property spanned across nearly 19 grounds and also had a building of nearly 70,000 square feet.

http://economictimes.indiatimes.com/...w/17123783.cms

[karkal]

Anyway, the real owner(Reliance) has to show up at some point in time.

[ChennaiIndian]

Originally Posted by murlee

Reliance Industries in talks to buy Leela’s IT park




http://economictimes.indiatimes.com/...w/17123783.cms

Rs.8000 per sq.foot is very under-valued. Anyway we all know how these things work in India.

[karkal]

It will be interesting to see....how they are going to use it.

[karkal]

50%-200% hike in property tax for IT buildings

The Chennai Corporation Council on Monday passed a resolution to increase the property tax for buildings housing IT companies. The increase in the tax rates range from 50 to 200 per cent. The civic body has identified 344 IT companies in ten zones in the western and southern parts of the city. The zones of Tiruvottiyur, Manali, Madhavaram, Tondiarpet and Thiru.Vi.Ka. Nagar do not have any IT companies.

The Corporation has identified 3.3 crore sq ft of property used for housing IT companies in the 10 zones. The total property tax collected from the owners of such buildings is Rs.10.84 crore. The existing average property tax rate for one sq ft for such buildings is Rs. 3.29. The proposed property tax rates for the newly created category of IT buildings approved by the Chennai Corporation council ranges from Rs.4 to Rs.27. Teynampet zone will have a 200 per cent increase from the Rs. 3 - Rs. 9 range to Rs. 9 - Rs. 27 range for IT buildings. Sholinganallur zone will have a 100 percent increase from Rs. 2 - Rs. 4 to Rs. 4 - Rs. 8 for such buildings.

Chennai Corporation had initiated a study on IT buildings a year ago to improve property tax collection in the city. Mayor Saidai S. Duraisamy pointed out that the tax rate for IT buildings was on a par with that of small retail shops. “The owners of the buildings reap the benefits of rise in rental value of such buildings. But, the tax rate for such buildings was not changed. The tax rate is based on the rental value of the building,” said Mr. Duraisamy.

“This is not a move against IT firms. The Corporation is trying to collect the right amount of property tax from building owners,” he said.

The decision of the Corporation will lead to IT buildings becoming a new category similar to hospitals, star hotels, lodging houses, cinema theatres and marriage halls.

The existing tax rates for such property in the 15 zones range from Rs.1.20 to Rs.11.25.

Keywords: property tax, IT buildings

[iaafosc]

Originally Posted by ChennaiIndian

Rs.8000 per sq.foot is very under-valued. Anyway we all know how these things work in India.

Larsen & Toubro, has agreed to sell its Club House Road property, off the Mount Road, to Tablets India for nearly Rs 88 crore. The transaction values land at nearly Rs 4.6 crore a ground (1 ground is 2,400 square feet)

.

once again a steal at that price , considering the location ....no ???