Economic Times
NEW DELHI: To Compensate GMR Group-led Delhi International Airport (DIAL) for possible revenue loss due to the proposed Greater Noida airport, the government may rejig the revenue-sharing arrangement with the consortium.
Hyderabad-based GMR has expressed concern over the Uttar Pradesh government’s plan to build second airport in Greater Noida, arguing that competition would cause significant revenue loss to DIAL. The proposed airport is located 70 kms from the Delhi airport and GMR says the new facility will take away some of DIAL’s business.
“Right of first refusal given to DIAL for the second airport within a radius of 150 kms is in itself a concession. But in case of excessive revenue loss due to the coming up of second airport in Greater Noida, we may relax the existing revenue-sharing arrangement,” a government official said. “However, second airport or even third airport is inevitable. We are looking at convenience of public and not the convenience of airport operators.”
As per the operation, management and development agreement (OMDA) of the government with DIAL, the latter is required to share 46% revenue with Airport Authority of India (AAI). With the government all set to clear the Greater Noida airport, GMR has raised its pitch. “We are not opposed to any new project, but we are really concerned of the timing,” a DIAL spokesperson said. “Delhi airport would have the capacity to handle 100 million passengers annually by 2026, well above the demand of a little over 80 million at that time.”
The GMR-led consortium bagged the contract to develop country’s second busiest airport in 2006 offering to share 46% revenue with the government. At around the same time, Mumbai airport was also privatised and given to GVK-South African Airports (SAA) combine for expansion and modernisation. GVK-SAA consortium had offered to share 38.7% revenue with the government.
Bidders for Mumbai airport offered to share lower revenue as compared to Delhi airport as they were aware of the fact that second airport will come up in Mumbai and it will pull in significant air traffic and revenue, leaving smaller room for them. GMR claims that at the time of bidding, there was no talk or proposal of second international airport in or around Delhi. Meanwhile, the issue of Greater Noida airport is with the Cabinet for its approval.
The other aspect to the revenue share comparison is that Delhi airport has huge tracts of land, allowing sizeable portion of land for commercial development even after building an integrated passenger terminal, four runways and allied facilities. As per OMDA, DIAL can use 5% land of the over 5,000 acres owned by Delhi airport for commercial purpose. On the other hand, land constraints have not allowed major development at the Mumbai airport.
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Monday, December 17, 2007
Sunday, December 16, 2007
Jaypee Greens to develop 500 acres township in Noida
Times of India
NEW DELHI: Riding high on the country's real estate boom, realty developer Jaypee Greens will develop a premium township over 500 acres of land at Noida.
This is the second project in the national capital region by the Jaiprakash Associates group company.
"We will develop a premium township in Noida, which will be spread over 500 acres of land. The bookings for the same has already started," Jaiprakash Associates Assistant General Manager (Marketing) Vibhor Gupta said.
He, however, declined to give any estimated investment saying that the project cost would vary in the future due to various factors. On funding, Gupta said it would entirely be done through internal accruals.
The company would start the construction work in three months and expects the project to be completed by 2010.
The township - Wish Town - would consist of both residential and commercial properties, Gupta said, adding that it will be predominantly residential, where the company will construct apartments and allot housing plots.
Wish Town would comprise 8,000-9,000 housing units. The sizes would vary from 1,600 to 3,300 sq ft comprising 2-4 bedrooms apartments. The price of the apartments would start from Rs 1.4 crore.
The sizes of the residential plots would start from 250 sq yards and would vary up to 500 sq yards. "The price for the plots will start from Rs 2.5 crore," Gupta said.
The township would have 350 acres of open area that includes 15 lakes and water bodies. It would provide golf facility, play areas and parks.
The Jaypee Group is a diversified company that has presence in engineering and construction, cement, private hydro power and hospitality among others.
NEW DELHI: Riding high on the country's real estate boom, realty developer Jaypee Greens will develop a premium township over 500 acres of land at Noida.
This is the second project in the national capital region by the Jaiprakash Associates group company.
"We will develop a premium township in Noida, which will be spread over 500 acres of land. The bookings for the same has already started," Jaiprakash Associates Assistant General Manager (Marketing) Vibhor Gupta said.
He, however, declined to give any estimated investment saying that the project cost would vary in the future due to various factors. On funding, Gupta said it would entirely be done through internal accruals.
The company would start the construction work in three months and expects the project to be completed by 2010.
The township - Wish Town - would consist of both residential and commercial properties, Gupta said, adding that it will be predominantly residential, where the company will construct apartments and allot housing plots.
Wish Town would comprise 8,000-9,000 housing units. The sizes would vary from 1,600 to 3,300 sq ft comprising 2-4 bedrooms apartments. The price of the apartments would start from Rs 1.4 crore.
The sizes of the residential plots would start from 250 sq yards and would vary up to 500 sq yards. "The price for the plots will start from Rs 2.5 crore," Gupta said.
The township would have 350 acres of open area that includes 15 lakes and water bodies. It would provide golf facility, play areas and parks.
The Jaypee Group is a diversified company that has presence in engineering and construction, cement, private hydro power and hospitality among others.
Formula One race track to come up in Greater Noida
Arun Kumar, Hindustan Times
New Delhi, November 15, 2007
Formula One motor racing will arrive in India in 2010. Delhi-based infrastructure major JP Associates has won an
exclusive 10-year contract to host the premier race in Greater Noida.
Manoj Gaur, managing director of JP Associates, confirmed this to the Hindustan Times and added that his group signed the agreement with F1 boss Bernie Ecclestone last week. He refused to divulge details of the deal.
The race track, to be developed by the JP group, will be near the proposed Greater Noida airport about 50 km from Delhi. The Noida authority has already given in-principle approval for the site, sources said. The Rs 1,500-crore project will be spread over around 350 acres land.
Enthusiasm in FI has been the on the rise in India ever since Narain Karthikeyan debuted at the FI circuit for Team Jordan. On Tuesday, another young star, Karun Chandhok, tested for Red Bull at the Circuit de Catalunya in Barcelona.
F1 track designer Hermann Tilke had recently visited Delhi to work out a possible route. Sources said the location was decided after a detailed study of infrastructure in Delhi. Since Delhi will also be hosting the Commonwealth Games in 2010, it would help organise the F1 race better, they added.
Suresh Kalmadi, president of Indian Olympic Association, said, “I have no idea (about the deal). If there is anything, it will be announced by Bernie Ecclestone.”
The Rs 34,000-crore JP group beat celebrated contenders like liquor baron Vijay Mallya in the race.
New Delhi, November 15, 2007
Formula One motor racing will arrive in India in 2010. Delhi-based infrastructure major JP Associates has won an
exclusive 10-year contract to host the premier race in Greater Noida.
Manoj Gaur, managing director of JP Associates, confirmed this to the Hindustan Times and added that his group signed the agreement with F1 boss Bernie Ecclestone last week. He refused to divulge details of the deal.
The race track, to be developed by the JP group, will be near the proposed Greater Noida airport about 50 km from Delhi. The Noida authority has already given in-principle approval for the site, sources said. The Rs 1,500-crore project will be spread over around 350 acres land.
Enthusiasm in FI has been the on the rise in India ever since Narain Karthikeyan debuted at the FI circuit for Team Jordan. On Tuesday, another young star, Karun Chandhok, tested for Red Bull at the Circuit de Catalunya in Barcelona.
F1 track designer Hermann Tilke had recently visited Delhi to work out a possible route. Sources said the location was decided after a detailed study of infrastructure in Delhi. Since Delhi will also be hosting the Commonwealth Games in 2010, it would help organise the F1 race better, they added.
Suresh Kalmadi, president of Indian Olympic Association, said, “I have no idea (about the deal). If there is anything, it will be announced by Bernie Ecclestone.”
The Rs 34,000-crore JP group beat celebrated contenders like liquor baron Vijay Mallya in the race.
Friday, December 14, 2007
BPTP to Set up IT SEZs in NOIDA
Delhi-based Real Estate Company BPTP Group has received approvals from U.P. Government for setting up two Product Specific Economic Zones in NOIDA and Greater NOIDA for IT and IT enabled Services.
The Company has received notification from U.P. Government to develop the SEZ in NOIDA over Plot No.3, which is of 25 acres, and the Company proposes to develop and make it operational in next 2 years. The Greater Noida SEZ is appox. 100 acres and will be developed in 3 phases. In the first phase, the company will develop 1.5 million sq. ft. and it will be operational in two years.
Due to liberal policies and good infrastructure facilities, NOIDA and Greater NOIDA are emerging as the new IT destinations for many world-renowned IT and ITES companies.
Commenting on the development, Mr. Kabul Chawla, Managing Director, BPTP said, "Our SEZs will cater the need of the IT companies intending to set-up their facility in North India in next 2 years when these facilities would be up and running." Mr. Chawla further commented, "Modern concepts will be brought in while in developing these facilities in high potential areas."
Wednesday, December 12, 2007
DIAL, UP spar over Noida airport sops
A pressure situation is building over the proposed Greater Noida airport, with the Uttar Pradesh government pushing for its quick clearance and Delhi International Airport Ltd (DIAL), which is modernising Delhi airport, keen to see the project put on the back-burner.
A note seeking clearance for the project has been sent to the Union Cabinet (within just four months after Mayawati took charge) and is expected to be taken up for discussion very soon.
The Cabinet has been asked to give in-principle approval to Taj International Aviation Hub in Gautam Buddha Nagar district.
A senior government official said the UP government was keen for clearance from the Union Cabinet prior to the general elections, which might change political equations and impact the fate of the project.
Sources said the state government intended to offer tax breaks for the airport and has explicitly stated this in the note sent to the Cabinet.
Meanwhile, DIAL has indicated it will seek compensation and demand a level-playing field. Cognisant of DIALs opposition to the venture, the note to the Cabinet points out that the central government has at no stage given any traffic guarantee to DIAL or assured exclusive rights to IGI airport.
DIAL is not taking things lying down. After writing a letter on October 17 objecting the proposed airport, DIAL executives have been meeting the officials concerned and arguing their case.
In a missive to key government officials, they have raised almost 10 substantive points against the facility, a senior official told Business Standard.
They maintain that at the time of the request-for-proposal by the Airports Authority of India (AAI) for restructuring Mumbai and Delhi airports, the indicative plan by the AAI for Delhi contemplated only a single airport, unlike in Mumbai, where Navi Mumbai was mentioned.
DIAL has clearly indicated that it expects no special concessions from the UP government to the new project and will seek for it the same stringent performance conditions that they (DIAL) are expected to meet.
We are not saying dont build the airport. But let the new facility be on an equal footing. Let the competition be among equals, said a DIAL source.
He says his company has to ensure certain performance standards, build 74 aerobridges and faces restrictions on the use of land, several of these, he adds, can dramatically change the cost and dynamics of the project.
A note seeking clearance for the project has been sent to the Union Cabinet (within just four months after Mayawati took charge) and is expected to be taken up for discussion very soon.
The Cabinet has been asked to give in-principle approval to Taj International Aviation Hub in Gautam Buddha Nagar district.
A senior government official said the UP government was keen for clearance from the Union Cabinet prior to the general elections, which might change political equations and impact the fate of the project.
Sources said the state government intended to offer tax breaks for the airport and has explicitly stated this in the note sent to the Cabinet.
Meanwhile, DIAL has indicated it will seek compensation and demand a level-playing field. Cognisant of DIALs opposition to the venture, the note to the Cabinet points out that the central government has at no stage given any traffic guarantee to DIAL or assured exclusive rights to IGI airport.
DIAL is not taking things lying down. After writing a letter on October 17 objecting the proposed airport, DIAL executives have been meeting the officials concerned and arguing their case.
In a missive to key government officials, they have raised almost 10 substantive points against the facility, a senior official told Business Standard.
They maintain that at the time of the request-for-proposal by the Airports Authority of India (AAI) for restructuring Mumbai and Delhi airports, the indicative plan by the AAI for Delhi contemplated only a single airport, unlike in Mumbai, where Navi Mumbai was mentioned.
DIAL has clearly indicated that it expects no special concessions from the UP government to the new project and will seek for it the same stringent performance conditions that they (DIAL) are expected to meet.
We are not saying dont build the airport. But let the new facility be on an equal footing. Let the competition be among equals, said a DIAL source.
He says his company has to ensure certain performance standards, build 74 aerobridges and faces restrictions on the use of land, several of these, he adds, can dramatically change the cost and dynamics of the project.
Greater Noida board clears several projects
Noida, Dec 11: The Greater Noida Industrial Development Authority gave its approval for various projects, including an IT city and a medical city here.
"Board has also approved the amalgamation of industrial plots. Only three plots could be amalgamated and that too the area should not exceed 5 acre," ACEO Y.K. Bahl said.
The board gave approval for projects such as IT City, medical city, sports city, heliport and a corporate tower.
On the request from the Noida Entrepreneur Association, the one time charges for rent permission which were charged for 10 years has be reduced to 5 years, Bahl said.
The board authorised the chairman to take a decision on the Night Safari project.
"Board has also approved the amalgamation of industrial plots. Only three plots could be amalgamated and that too the area should not exceed 5 acre," ACEO Y.K. Bahl said.
The board gave approval for projects such as IT City, medical city, sports city, heliport and a corporate tower.
On the request from the Noida Entrepreneur Association, the one time charges for rent permission which were charged for 10 years has be reduced to 5 years, Bahl said.
The board authorised the chairman to take a decision on the Night Safari project.
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