DLF sets up shop in Orange City
Times Nagpur March 3, 2007
TIMES NEWS NETWORK

Nagpur: DLF Group, the only construction company in the country to a have a ‘superbrand’ ranking, has opened its office in the city With its presence in 29 cities and metros across the country, the Delhi-headquartered group has to its credit over 260 million sq ft of constructions, including developed and ongoing projects in homes offices as well as shopping mall segments. That Nagpur figures in DLF’s plans is another indication that the city is drawing major players in the construction sector who want to cash m on the real estate boom here. A week ago, DLF opened its office on the Wardha Road. Dinesh Raste is in-charge of the local affairs but at the moment he is based in Pune and looks after Nagpur office too. The company has already bought a piece of land under Multi-modal international hub airport at Nagpur (Mihan or cargo hub) with a view to diversifying into IT industry. Talking to TOl, Raste on Friday said DLF was looking for ideal locations to build townships around the city. “We ideally need land of more than 100 acres and have looked at some locations this week. But nothing has been finalised and are far away from closing any deal,” said Raste. After TO! broke the news on Wednesday of how builders from the city as well as Delhi and Mumbai were eyeing old residential flat schemes and offering phenomenal amounts to unlock real estate, reports of more such old apartments especially in Dhantoli area have surfaced. However, the owners of the Hotel Centre Point have vehemently denied that it had made any offer to Jeevan Chhaya housing society in Ramdaspeth as mentioned in the report. “There is absolutely no plan whatsoever to acquire or outright purchase any or all the flats of the said building at prevailing market price, leave alone the astronomical sum of Rs 15,000 per square feet quoted in the report,” said a statement signed by managing director S P Singh of the Centre Point Group of Hotels. “We have cordial relationship with our neighbours and have no plans right now to offer this massive sum to flat owners of Jeevan Chhaya apartments,” the statement said. Interestingly, Jeevan Chhaya society’s president Moti Israni told TOI on Thursday that the 52-member flat scheme had received an offer from a Delhi builder. Asked what was the offer like, he said: “It was at the same rate your report mentioned.” According to Israni, after getting the Delhi builder’s offer, the society through an intermediary approached Centre Point Hotel which was not entertained by the latter. “We did approach Centre Point, but since they are not interested, we are now looking at other offers and are keen on striking a deal as early as possible,” said Israni. That Nagpur figures in DLF’s plans is another indication that the city is drawing major players in the construction sector who want to cash in on the real estate boom here. A week ago, DLF opened its office on the Wardha Road. Dinesh Raste is incharge of the local affairs but at the moment he is based in Pune and looks after Nagpur office.

Times Nagpur – March 2, 2007
Vijay Pinjarkar I INN 

Nagpur: The state government has sanctioned around Rs 5.20 crore to boost eco tourism in forest reserves and sanctuaries in Vidarbha. The reserves include Meighat, Tadoba, Pench, Bor and Nagzira.
Out of the Rs 5.20 crore, Rs 1.60 crore has been allocated to Meighat Tiger Reserve in Amravati, Rs 1.40 crore to Tadoba-Andhari Tiger Reserve (TATR) in Chandrapur, Rs 1.20 crore to Pench National Park and Tiger Reserve in Nagpur, Rs 80 lakh to Nagzira Wildlife Sanctuary in Gondia and Rs 20 lakh to Bor Wildlife Sanctuary in Wardha.
Sources informed that the proposal in Pench includes tents, interpretation centre, Mowgli eco huts, dormitories, two canteens and tree huts besides works related to forest management.
WI Yatbon, deputy conservator of forest (DCF), Gondia, said that of, the Rs 5 crore to be received in next five years, Nagzira got Rs 80 lakh. The funds will be spent on various construction work and strengthening conservation.
The plan includes construction of new guest house at the cost of Rs 20 lakh with four suites at Pitezani gate outside Nagzira. The strategy also includes setting up of ten canvas tents each at Pitezani and Chorkhaniara gate.
“This is being done to prohibit tourists from staying inside the park. This will also stop disturbance to wildlife. The present structures will be turned into staff quarters, museum and an interpretation centre in the sanctuary. The basic aim is to also save the lake which is the only source of water,” Yatbon said.
The DCF added that one interpretation centre is already there in Pitezani. Second such centre has been proposed. There is also plan to procure a mini bus for jungle safari. Besides, two visitors room one each at Pitezari and Chorkhamara will come up. The eco guide hall for guides aiso at Pitezari will be added attraction.
Sources pleading anonymity at Nagpur said: “The 152-sq km Nagzira Sanctuary is rich in wildlife and sighting are good. We plan to develop it on the lines of Kanha by developing infrastructure.” “Now the field staff can be accommodated inside the forest strengthening protection. Another step in this direction will be to involve local youths as guides and award canteen contract to villagers’ society This will discourage them from being lured by poachers,” said some officials.

Out of the Rs 5.20 crore, Rs 1.60
crore has been allocated to Meighat
Tiger Reserve, Rs 1.40 crore to
Tadoba, Rs 1.20 crore to Pench
National Park, , Rs 80 lakh to
Nagzira Wildlife Sanctuary and Rs
20 lakh to Bor Wildlife Sanctuary 

The Times of India March 9, 2007
TIMES NEWS NETWORK 

Nagpur: Microsoft Corporation India Pvt. Ltd. announced the opening of its office in the Orange City as a part of its efforts to consolidate its India-wide presence. The city office will aim at strengthening direct sales mfrastructure, broadening partner eco-system and starting market education initiatives and programs.
The Microsoft team at Nagpur will he supported by the Mumbai branch for deeper functional expertise and also plans to consolidate its relationship with local industry associations to understand and address local business challenges. While a majority of businesses in Nagpur are small units, it is home to over 36,000 small and medium businesses besides large businesses and government organisations. 
Today Nagpur is making a name for itself as a pulsating ‘Plotters’ Paradise, Reports Shweta Hirani.
The Times of India March 17, 2007 
The picture seems to be changing. The larger than life cities of the country like Mumbai, Calcutta, Bangalore, and Delhi seem to have exhausted their usable land and manpower. So where next? Lets’ explore the centre - Chalo Nagpur.
Let’s take a look how Nagpur is moving on as it’s been termed as one among the fastest progressing cities of the country. Nagpurians have always relished whatever their city had to offer, the most salient feature being the serene environment for a home and solitude for the soul; but now, the former laid-back city is hastily buzzing with activity
So what is it that snapped Nagpur into the big picture? The key word is ‘Real Estate’. On the lines of real estate, the major role is being played by the Multi-Modal International Passenger and Cargo Hub Airport and Special Economic Zone project. (MIHAN-SEZ). And to add to this are the number of multiplexes, mails, road expansions rising from the earth.
Today Nagpur is making a name for itself as a pulsating ‘Plotters’ Paradise. Plotters as in quick thinking entrepreneurs who have jumped onto the real estate bandwagon and are raking in quick bucks trading in plots along ‘Golden Avenue’ or Wardba Road.
The land trading, or in the words of local traders, the buying and selling of ‘pattas’ took off as early as the year 2003. People who would otherwise buy stocks and shares or raise money for lending purposes now took notice of the real estate bustle. Under a given circumstance a businessman lending money on 10 to 12 percent interest, would derive one or two percent profit which would take roughly four and half years to double whereas by investing in real estate the principal amount would double in just a year or two. This is one of the basic reasons that drew a number of investors towards real estate.

One might wonder who brought about such drastic alteration in land trading. Gopal Kondawar, a well know figure in the builder’s clan of the city started it all. He is the one who coaxed people to take their chances in real estate, says Ravi Patil a land broker from the city. One after the other people started jumping onto the real estate bandwagon and until the end of 2005 the property rates began to double within three months. From this period up to today people are calling it the Real Estate Boom.

The most coveted areas for trading in plots in the outskirts of the city are -

1) Wardha Road - Along this road locations like Somalwada, Besa, Belsarodi, Wela and make prime investment destinations; towards Butibori its villages like Dongargaon, Walkeshwar that are equally attractive.
2) On Amravati Road it is Gondkheri and VIP Road leading towards Kalmeshwar that are attracting the investors in real estate. In the early years when real estate binge had just begun, the rate per acre in some of these areas was Rs. 3 lacs. Today just a year and half year down the line the rate of per acre land is nothing less than Rs.1 crore, says Patil.

Coming to town the most expensive expanse of land is Civil Lines or the ‘Crorepati gali’ the lane the supposedly houses some of the city’s crorepatis. Here the going rate is as high as Rs. 5000 per sq ft. revealed another broker on terms of anonymity. Next in line are areas like Dharampeth, Shankar nagar, Ramdaspeth, Raj nagar and a few more.
The land along the Wardha Road is being traded at mind-boggling prices only in the name of MIHAN-SEZ. Sharp shooting traders and brokers are letting their imagining run wild, speculating that the project would absorb or generate employment for close to five lac people, when in actual fact the figure is closer to 1.5 lac only according to project consultants L&T Ramboil. At the maximum it may rise up to 2.5 or 3 lacs says Chahande, Chief Engineer, Project MIHAN.

“The required residential complex, school, hospital etc. for the incoming professionals are being built in the MIHAN-SEZ complex itself; hence why would people need land beyond the required amount of MIHAN” he asks. Speculating traders argue that land would be needed for petrol pumps, hotels, private hospitals, residential complexes for the labour class that would flow in and many more amenities.

Work on the MIHAN-SEZ is now on in full swing. “Of the total 4311 hectares of land needed for the ambitious project till date 1925 hectare has been acquired and negotiations are on to acquire the rest” says Chahande.
Such is the scene and status of real estate in Nagpur. It has given a fresh lease of life to a few-small investors, (who have grown big almost overnight), a new form of investment for people not new to the investment business and a form of minting money for the land sharks.
However, the moot question which is worrying the skeptics is that like every boom-that at some point or other fizzles out, will this effervescent ‘water’ also stagnate?
“T he bubble might burst soon” says Mr. Balbir Singh Renu, President of the Builders Association of India, Nagpur Chapter. The game or the gamble of conjecture never ends; it only changes routes and so may hold true for Nagpur’s realty bubble as well.