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Mahindra & Mahindra to invest Rs 8,000 crore on automotive plants in Maharashtra

16 Feb 2016

NEW DELHI: Homegrown utility vehicle major Mahindra & Mahindra plans to invest Rs 8,000 crore on its automotive plants in Maharashtra over the next seven years as part of its expansion plans. "The company plans to make an investment of Rs 8,000 crore at the automotive plants in Maharashtra as part of its expansion plans," Mahindra & Mahindra (M&M) today said in a regulatory filing. The investment will be made over a period of seven years and utilised towards infrastructure development, product development and capacity expansion for vehicles, it added. A Memorandum of Understanding (MoU) in this regard was signed between the company and the state government. Maharashtra Principal Secretary (Industries) Apurva Chandra and M&M Executive Director Pawan Goenka signed the deal in the presence state Chief Minister Devendra Fadnavis. M&M, which sells various popular vehicles in the country including Bolero, Scorpio and XUV500, currently has four automotive plants in Maharashtra at Chakan (Pune), Nashik, Kandivali and Igatpuri. Besides, it has two other automotive plants outside Maharashtra at Zaheerabad (Telangana) and Haridwar (Uttarakhand). Shares of the company today ended at Rs 1,222.70 apiece on the BSE, up 4.65 per cent from previous close.

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Nashik holds sample survey of properties (The sample property survey was conducted to understand the problems and the number of properties that can be surveyed in a day so that the Nashik Municipal Corporation (NMC) can plan for the actual survey. Each te

09 Feb 2016

NASHIK: The civic body has carried out a property survey on an experimental basis with 50 teams that comprised engineering and polytechnic students and its employees. The sample property survey was conducted to understand the problems and the number of properties that can be surveyed in a day so that the Nashik Municipal Corporation (NMC) can plan for the actual survey. Each team had three members - two students led by a civic employee. The survey was conducted in the Kamatwada, Ranenagar, Shivaji Chowk and the Morwadi areas of CIDCO division. The NMC is going to start a survey of all the properties in the city shortly. The team surveyed societies, apartments, bungalows, buildings, hospitals, educational institutions, government and commercial properties, hotels and community halls from 10 am to 6 pm. "The objective was to have an idea of what we should do during the actual survey, what we can face and how to plan for it. The planning for the actual survey will be done based on these experience," deputy municipal commissioner (property tax) Rohidas Dorkulkar said.

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Maha govt lays down norms for redevelopment of dilapidated bldgs

09 Feb 2016

MUMBAI: Maharashtra government has directed all municipal corporations in the state to conduct a survey of all old and dilapidated buildings before the onset of monsoon and disconnect water and electricity supply in case residents therein refuse to vacate them. The civic bodies have been asked to follow the guidelines of Brihanmumbai Municipal Corporation (BMC), with regards to re-development of old and dilapidated buildings, an official from the Urban Development department said. "Corporations have been asked to categorise as 'C-1' buildings that are in dire need of repairs and need to be vacated immediately by the residents. "'C-2 (A)' category will be given if the building needs to be vacated in near future for structural repairs and 'C-2 (B)' category would mean that structural repairs can be done without its residents vacating the building. 'C-3' category is given for very minor repairs needed," he said. The 'C-1' category buildings will warrant immediate vacation by issuing a notice under section 354 of BMC Act and the building will be demolished, he said. The relevant authority responsible for repairs will be required to calculate the FSI of each tenant and give certificate of the same to the tenant and the building owner, the official said. Municipal corporations have also been instructed to disconnect water and electricity supply to residents if they refuse to vacate the building and there is a danger to their lives. "The authority will also submit an affidavit before the court stating they would not be responsible for loss of lives and property if there is an injunction by the court," he said. At the same time, the authority will be required to file a caveat before the court to lift the stay orders. "The responsibility of shifting people living in dangerous buildings will be with the police. Also, in case of a corporation building, the civic body will need to make an alternate accommodation arrangement," the official added.

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Nashik Is the Most Trending Location for Property Investments

09 Feb 2016

The pristinely town of Nashik is encircled by the picturesque Sahayadri range and is found within the banks of Godavari river. The town hosts the disreputable Sula Vineyards and is lovingly entitled as “The Wine capital of India”. It’s one amongst the proud vertices of the “Golden Triangle” shaped in conjunction with Mumbai and Pune. Since, the real estate industries of Mumbai and Pune are heading towards its saturation, Nashik is obtaining additional attraction from the majority in terms of property investments. In line with the specialists, the city has already earned appreciable inflation in property rates within past few years and is on the brink of get additional weight age. Properties in Nashik has experienced a steep upliftment owing to the extended scope of employment that is engulfed round the city as a result of the plentiful industrial institution of multidimensional verticals like manufacturing, automobile, IT/ITES and plenty of others. The wealthy economy of the city is massively depended upon its industrial institutions. To boot, the commercial dominance is clubbed with the pure and divine location advantage for being in vicinage to illustrious pilgrimage destination of Shirdi, Nashik has gained its real estate importance among completely different genre of investors. in addition, the supreme agriculturally distinguished city and the prodigious defence sector harbored by town are the main revenue resources. Nashik has enticed various property consumers either for attaining their aspired dwellings, or for creating second real estate investment. Attributable to its multi facet industrial development, the strain for residential flats in Nashik are peaking, which has also attracted numerous builders to structure their exemplary architectures to redefine the property structure of town. Off late various property homeowners have turned their second property as a source of financial gain, by renting them to the families or students. Another major attraction for the real estate splurge in Nashik city is that the abundant pocket friendly property rates. With such an elongated list, the city is needed to represent one amongst the popular real estate boons that has detonated many contemporary property developments in and around the city. In recent times, Nashik properties are one among the foremost affordable investments that comes back with head-high advantages. The pristinely town also harbors avant-garde civic amenities that’s resembling that of any metropolitans of India. The top-notch academic institutes boasted by the city welcome students from all elements of the country. The city is flooded with various shopping complexes, multiplexes that inspire recreational activities for the inhabitants. Moreover, the planned city enjoys superlative intercity transport service. However, recent study reveals that the infrastructural advancement of town is facing a backlash due to the excessive assets explosion all over. Nevertheless, the city may be being able to be connected via rail and road and it relished up market infrastructural conditions. The adjoining locales of the predominant industrial areas specifically Ambad, Satpur and Sinnar have raised a requirement of real estate emergence that has drawn attraction to various property developers. With the superfluity of quality that has inspired the real estate development in Nashik, the areas of Gangapur Road, Mumbai- Agra Road, etc. have relished modern real estate developments. Being associate antique existence, the contemporary property enhancements is mixed with traditional city structure reflects a retro outlook of the Nashik city. Thus, owning flats in Nashik, isn’t solely a need of the native consumers, however also has occupied a decent quality among the outstation investors. Overall, investment in realty properties of Nashik, is that the one amongst the specified deal that may certainly turn to be a profitable resource. Regardless of whether you invest for residing purpose, or simply for an alternate resource, the ready Possession Properties in Nashik will certainly yield a high return both financial and satisfactory.

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