Consumers oppose Maha VAT

MUMBAI: Seeking to fight the vexed VAT issue on flats in Maharashtra, a consumer group called FORAM – Flat Owners’ Rights protection Action committee in Maharashtra – has been formed with consumer interest groups coming together.

FORAM will mobilise public opinion against the VAT on flats sold between 2006 and 2010 which has come like a bolt from the blue, said Mr Atul Puranik, convener of the new platform.

“As it is, the common man is burdened with a series of taxes and a homer buyer has to pay even much more in terms of service tax, stamp duty and registration and now the VAT,” Mr Puranik, who is associated with the Council for Fair Business Practices, pointed out and called for an immediate end to VAT on housing sector.

Mr Puranik said there is no justification for levying axes on the material used in housing since all these items are subjected to sales tax. VAT, actually, amounts to double taxation, he said.

Mr Chandrashekhar Soman, another convener of FORAM, said:”We will mobilize public opinion against all over Maharashtra with district level committees VAT and appeal to the government to scrap the tax altogether for flat buyers.”

“This is just the beginning,” he said and expressed the hope that people a cross section will join in the movement.

Stating that FORAM will raise voice on behalf of the common man, Mr Soman said there was no justification for VAT on property because buyers pay stamp duty and service tax. He asked: why should there be VAT on immovable property?

He pointed out that there was a lot of confusion on the percentage of VAT to be levied and “even the government officials come up with different figures”.

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FORAM received support from elected representatives like Mr. Vivek Patil, MLA from Uran. Many consumer rights activists and advocates promised to lend a helping hand to the anti-VAT drive.

“I was shocked to read about the Maharashtra Government’s announcement to charge VAT at a high rate of 5% on flats and other properties bought from 2006 to 2010,” said Mr Patil commenting that: “I strongly feel it is very, very exorbitant.”

“Several people who chose to buy flats in Raigad district because of the price advantage as compared to Mumbai and its suburbs have approached me with this new VAT issue. “My fundamental question is: why should there be VAT on immovable property? VAT should totally be scrapped be it 1% as applicable from April 1, 2010 or the high rate of 5% from 2006 to 2010,” Mr Patil said.

Echoing similar views, Mr Patil pointed out that the common man is being “crushed” by the government policies both by the central and state Governments. “The uncontrolled increase in prices of essential items like food, electricity and petroleum products, along with taxes on everything that we buy had made the life miserable for many,” he said.

 

Sikkim Hydel project Teesta-III gets fresh REC finance

NEW DELHI: In a significant development that may see the power woes of Northern states easing from July next, REC has set the motion in rolling for early completion of the 1200 MW Teesta Hydel project in Sikkim by increasing its loan sanction to the project to Rs 3,095 crores.
Sikkim Government on its part has appointed a high powered committee to expedite the completion of the State’s hydro power projects, including Teesta-III, and has committed to fund its share of the equity for Teesta-III in an expedited manner.
About 12% of the power produced by Teesta-III will go to Sikkim (as free power per the contract) while the rest 85% supplied to four northern States – Delhi, UP, Haryana and Rajasthan – which recently witnessed serious power crisis due to overdraw from the grid by some states.
Teesta-III, the largest of the six hydel projects on the Teesta river, is being executed by an SPV called Teesta Urja in which the Sikkim Government has a 26% stake.
REC has approved the fresh lending of Rs 995 crores to the project on account of cost over-run. The original estimated cost of the project was pegged at Rs 5,700 crores but lenders like REC and PTC have agreed to increase infuse Rs 8,500 crores to meet cost over runs on account of a massive earth quake, which Teesta-III survived, and so on.
As per revised commercial operation dates, the first unit of Teesta-III will go on stream in July 2013 for Unit-1, thereafter all the six units will become operational one after the other with the sixth and final unit becoming functional by December 2013.
The Sikkim state government has also agreed to bring in its equity share of equity. It is significant that Sikkim Power Secretary Mr A K Giri attended a recent meeting convened by REC.
In a latest development Sikkim Government appointed a high powerered committee under the chairmanship of Chief Secretary Karma Gyatso. State Power Secretary Mr A K Giri is the member secretary of the panel. The government has issued a gazette notification to this effect stating that the committee report is to be submitted by August 10, 2012.
Sikkim government has also signed the share holder agreement with Teesta Urja Limited acquiring 26% stake in the SPV executing the project, apart from agreeing to contribute its share to the base cost as well as the cost overrun.
What comes a major relief to all stake holders is the fact that the State government has decided to end its legal dispute with Teesta Urja on share holding issue and accelerating the project execution.
All equity investors, including a group of six private equity partners, have also expressed their full support and commitment to bring in equity for the revised costs. REC and PTC are among the big lenders to the project.
Six PE players led by Morgan Stanley, who have already pumped in Rs 750 crore into the project through Asian Genco, will also raise their commitment, a source familiar with the development said. “They may have to chip in another Rs 400 crores or so, to proportionately match the cost increase,” the source said.
Besides Morgan Stanley, the group of investors includes Everstone Capital, General Atlantic, Goldman Sachs Investment Management and Norwest Venture Partners.

Towering costs of cement – Don’t blame industry!

The Competition Commission has imposed a hefty penalty of Rs.63 billion  on 11 cement companies and the industry association for indulging in alleged cartelisation.  Although the penalty for alleged cartelisation is being appealed in a higher tribunal, the stated objective to control pricing without taking into consideration costs and slowing demand is bound to cause more harm. Sample this:

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The cost of making cement in India has jumped by half over the last four years, and the rising prices of raw materials, energy and freight all indicate that manufacturers have a tough job on their hands to keep their plants ticking.

Ironically, almost all the costs related to the production of cement and its transportation are the monopoly of the government, leaving companies with no elbow room to control these factors. Adding to the problems, the growth in demand for cement has lost momentum due to the sharp slowdown in economic expansion, analysts say.

Cement is a bulk commodity and it needs to be shipped across vast distances to reach the consumer. Freight makes up a little more than a fifth of the total cost of cement. It has climbed more than a quarter on a compounded annual growth rate over the past seven years. This includes transportation costs of clinker, but excludes freight on raw materials which is usually added to the cost of raw materials.

So, the 30 per cent hike in freight rates in the March railway budget meant a stiff increase in costs. To move a 50 kg bag of cement from Andhra Pradesh, a key producing state, to Maharashtra the new rail freight rates added Rs.15 to each bag; to Kerala Rs.22 and as much as Rs.30 to the north east.

Because the railways are state-owned and freight rates set by the government are not negotiable, cement producers have been using the improving highway network to move cement via road. About 35 per cent of cement produced in India is today carried by the railways, down from more than 60 per cent until a decade ago.

The railways are expected to ship at least 30 per cent of the cement in the years to come, given its predominance over longer distances. The economic size of a cement plant has risen to 5 million tonnes a year from 1 million tonnes, meaning larger long haul costs to get the stuff to the ultimate buyer.

It’s only a matter of time before the government raises diesel prices. This would have the potential to balloon transportation costs further. Again, this is out of bounds of cement producers.

The two other major costs are energy and raw materials. Stable supplies of power and coal, also mostly controlled by the state, have always been a challenge. In the absence of competition, the coal produced by government-run mines is of poor quality with high ash and low calorific value.

As a result, cement companies also depend on imported coal of high calorific value. However, the rupee’s sharp depreciation and Indonesia’s – a major coal supplier – recent moves to jack up prices and restrict exports pose huge risks to costs.

All these factors have resulted in a sharp rise in the cost of building a new cement plant over the past two years. With prices not keeping pace with the increase in input and other costs,  EBITDA (earnings before interest, tax, depreciation and amortisation) have plummeted to $1,000 per tonne from a greenfield cement plant, compared with $1,500 that was initially expected.

India is the world’s second biggest producer of cement after China, with output soaring after the sector was completely decontrolled in 1989. But the emerging scenario is detrimental for the industry and the country.

 

 

 

Competition Commission penalty on cement industry – Not so fine!

The Competition Commission of India (CCI) has imposed a fine of more than Rs 6,000 crore on 11 cement makers alleging cartelisation and price fixing from May 2009 to March 2011.

It is a record penalty and is seen as an attempt by the ant-trust regulator to assert itself. But the last word has not been said on the issue, yet. The cement makers can go on appeal to the Competition Appellate Tribunal (COMPAT), and even to the Supreme Court.

Legal experts think the CCI is on slippery ground here. Cement companies say the CCI rules require the commission to establish the existence of a cartel only if there is a written agreement among the parties involved. That is not the case here and the commission has based its findings on circumstantial evidence.

Fact is, despite all the arguments about lower utilization at cement plants and higher prices that informants in the case — the Builders Association of India — has brought against the cement companies, it would be tough to prove that cement prices rose because of cartelisation. As the Cement Manufacturers Association (CMA) submitted before the commission, the report is based on surmises and conjecture.

The CCI ruling said its director general has submitted that the cement companies have enough scope to reduce the price of cement but have tried to earn better margins on sales instead of utilizing more capacity. The argument flies in the face of the very system of free market economics. The shareholders of cement companies want the managements to bring them the best possible returns. If cement demand has been going up despite rising prices, that means optimum pricing for the commodity has not been discovered and the managements did the right thing by raising prices further. If the builders thought the prices were too high to make their business unviable, then they would have stopped buying cement, and the prices would have come down naturally. That is how market economics works.

That it never happened possibly points to another interesting aspect — by bringing the case to the CCI, the builders may have been trying to protect the fat margins that they had commanded at the height of the housing boom. As the CMA said, the third-parties from whom information was collected in this case by the CCI are builders and cement dealers, who all have their own vested interests. The CCI’s very enquiry rests on thin ice here.

Another interesting observation made by the CCI was that the common platform of CMA was used for collection and dissemination of the information on prices of different companies. The CMA countered that it never collected prices by brand but only average prices for passing on to the Department of Industrial Policy and Promotion. Furthermore, it had been asked by the ministry of commerce and industry to collect the data on a monthly basis to calculate the Wholesale Price Index.

It is akin to penalizing an organization for following the orders of a government department. Besides, as the association said, the information is available publicly!

The CMA also said mere price parallelisms cannot be used to infer cartelization and it is bound to occur in cases where a homologous product is sold in the same market.

Overall, despite all the headlines the CCI made, it looks like the findings have not strong legal base and could be thrown out by higher legal institutions. Till then, however, the CCI’s action has introduced an element of uncertainty into the cement industry at a time of weak demand and slowing economy. The action will have the opposite effect to what the CCI intended under the current economic circumstances.

Competition Commission order on cement ‘cartels’ kicks off heated debate

The recent case of Competition Commission of India imposing a whopping Rs 6,000 crore penalty on cement companies and even the Cement Manufacturers’ Association has kicked off a heated debate across the industry.

As is known, CCI’s ruling came in the wake of a complaint filed by Builders Association of India. By bringing the case to the CCI, the builders may have been trying to protect the fat margins that they had commanded at the height of the housing boom.

As the CMA said, the third-parties from whom information was collected in this case by the CCI are builders and cement dealers, who all have their own vested interests. The CCI’s very enquiry rests on thin ice here.

Cement Factory_Representative Pic

Another interesting observation made by the CCI was that the common platform of CMA was used for collection and dissemination of the information on prices of different companies. The CMA countered that it never collected prices by brand but only average prices for passing on to the Department of Industrial Policy and Promotion.

Furthermore, it had been asked by the ministry of commerce and industry to collect the data on a monthly basis to calculate the Wholesale Price Index.

It is akin to penalizing an organization for following the orders of a government department. Besides, as the association said, the information is available publicly!

The CMA also said mere price parallelisms cannot be used to infer cartelization and it is bound to occur in cases where a homologous product is sold in the same market.

Overall, despite all the headlines the CCI made, it looks like the findings have not strong legal base and could be thrown out by higher legal institutions. Till then, however, the CCI’s action has introduced an element of uncertainty into the cement industry at a time of weak demand and slowing economy. The action will have the opposite effect to what the CCI intended under the current economic circumstances.

 

 

 

No concrete evidence of cement cartels, say analysts

MUMBAI, July 08, 2012: The Competition Commission of India’s recent order on eleven Indian cement companies imposing a whopping Rs 6,000 crore penalty for alleged cartelization is bound to have a crippling the industry – the world’s second largest after China – leading analysts said.

“It’s a classic case of performers being punished,” said Mr Sudip Bandyopadhyay, MD and CEO of Destimony Securities.

“In some cases the penalty imposed is higher than a year’s earning for many players and this could negatively affect the health of the company jeopardizing shareholder interest,” Mr Bandyopadhyay said and wondered: “Penalty seems to have been imposed on circumstantial evidence and not on the basis of concrete proof of cartelization.”

“As it is, the Indian economy is already suffering from negative developments on account of retrospective amendment in the Income Tax laws and the reverberations of the 2G scam. Further, penalties on core sectors like cement will weaken the FII confidence, as well as that of the domestic investor which will go on to hamper growth and destabilize the economy even further,” he added.

The Competition Commission of India had imposed penalty of over Rs 6,000 crores on 11 cement manufacturers based on a complaint filed by Builders Association of India. The Commission has also imposed penalty on the Cement Manufacturers Association.

In its report titled “CCI bites hard; Industry ready to fight back”, Anand Rathi Share and Stock Brokers Limited says the order is largely based on “circumstantial evidence and less concrete or direct evidence” for an industry with a relatively large number of players.

Emkay Global Financial Services Ltd said in its report after analysing the CCI order that “Though some of the evidence presented by CCI could be strong, we believe they may not be strong enough to prove the charge of cartelization.”

“Collection and circulation of data by CMA has been considered as anti-competitive practice. However CMA has argued it collects data under instructions from DIPP for computation of wholesale price index and, hence, no adverse inference can be drawn from this. Further, data collection and dissemination activities of CMA mentioned by CCI are pretty much the activities carried by any trade/business association,” Emkay said.

“We also observe that CCI has provided strong circumstantial and statistical evidence like date and venue of CMA’s ‘High Power Committee’ meeting and subsequent movement in cement prices indicative of coordinate price actions by cement manufactures. However the limited period and price analysis of such meetings and that too for specific season (particularly construction season when cement prices usually witness seasonal up tick) could lead to lot of subjective inference and weakens statistical assessment. For eg .Commission gave instances of CMA meeting held on Jan-11, Feb-11 and April-11 and no specific explanation of why only these three meetings have been referred to when meetings of its High Power Committee take place periodically,” it added.

According to BRIC Data, an emerging markets intelligence company, India is ranked as the second-largest producer of cement in the world, only behind China. The Indian cement industry increased in value at a compound annual growth rate (CAGR) of 13.14% during the review period (2007–2011), and is projected to grow at a CAGR of 10.64% over the forecast period (2012–2016). This growth is primarily attributed to the government’s high level of infrastructure spending, and the country’s increasing number of residential and commercial construction activities, BRIC Data says.

The Indian government invested US$500 billion on infrastructure during the Eleventh Five-Year Plan (2007–2012) and revealed plans to invest a further US$1 trillion on infrastructure during the Twelfth Five-Year Plan (2012–2017).

The large-scale investment on various infrastructure projects, including roads, railways, bridges and ports, will generate a huge demand for cement over the forecast period, BRIC Data says.

Credit rating agency CRISIL said the penalty on the four CRISIL-rated cement companies is unlikely to impact their credit quality. “CRISIL believes that the financial risk profiles of these cement manufacturers are strong enough to offset the impact of the penalty. The penalty is sizeable at 75 per cent of the aggregate net profits of the four rated cement players for 2011-12 (refers to financial year, April 1 to March 31),” the agency said.

CRISIL, however, said robust liquidity and low gearing will cushion the credit risk profiles of these companies against the impact of the penalty. Moreover, cash outflows on account of the order are unlikely immediately, given that the players may appeal against it at the Competition Appellate Tribunal.

“The credit risk profiles of these companies are, therefore, expected to remain unchanged in the near term,” it said.

Can you blame cement alone for high construction cost?

NEW DELHI: A debate is raging among business and industry circles as to whether the cement industry alone can be blamed for the increasing cost of construction?

Analysts say cement cost is forms just about 10-15% of the overall construction cost. The rest is contributed by costs of other inputs like land, steel and even sand, apart from the ever increasing cost of labour.

It is in this context that one has to view the heft Rs 6,300 crore penalty slapped by the Competition Commission of India on eleven cement companies.

In some cases the penalty imposed is higher than a year’s earning for many players and this could negatively affect the health of the company jeopardizing shareholder interest.

Penalty has been imposed on circumstantial evidence; there is no concrete proof of cartelization, it is pointed out.

“It’s a classic case of performers being punished,” said Mr Sudip Bandyopadhyay, MD and CEO of Destimony Securities.

“In some cases the penalty imposed is higher than a year’s earning for many players and this could negatively affect the health of the company jeopardizing shareholder interest,” Mr Bandyopadhyay said and wondered: “Penalty seems to have been imposed on circumstantial evidence and not on the basis of concrete proof of cartelization.”

In its report titled “CCI bites hard; Industry ready to fight back”, Anand Rathi Share and Stock Brokers Limited says the order is largely based on “circumstantial evidence and less concrete or direct evidence” for an industry with a relatively large number of players.

Emkay Global Financial Services Ltd said in its report after analysing the CCI order that “Though some of the evidence presented by CCI could be strong, we believe they may not be strong enough to prove the charge of cartelization.”

Analysts also point out that the Indian economy is already suffering from negative developments on account of various issues like inflation, negative production trends, price rise and inflation, retrospective amendment in the Income Tax laws and the reverberations of the various scams.

The profitability of cement companies would be eroded if they are forced to pay the heavy penalties imposed by CCI, thus negatively impacting the investor confidence in them, says another analyst.

APGENCO may shelve Sikkim plan

APGENCO, which planned to invest in Teesta Urja project in Sikkim, is having second thoughts on investing in equity outside the State.

APGENCO had bagged the O&M Contract for the prestigious 1200 MW Teesta Stage III Hydro Electric Power Project in Sikkim in March 2005 with a possibility of investing in the project. At 3829.40 MW, AP GENCO has the second highest hydel generation in the country

According to original plans, APGENCO was to also participate in equity for the Teesta-III after receiving the techno-economic feasibility of the project.

But now experts have advised APGENCO against going ahead with the non-AP equity plans since in the State itself it would have to invest heavily into power generation. “Better sense should now prevail on APGENO,” said a top power sector analyst.

Meanwhile, the Discom came under increased pressure with AP Chief Minister Mr N Kiran Kumar Reddy asking them to ensure that under any circumstances 7 hours of power supply to farmers. This should be strictly adhered to and there should be constant monitoring on this, he told the Discom officials.

Major Industries in the State are having 30 % power cut as of now, though the officials are making efforts to maintaining power supply to emergency services and small scale units.

APGENCO had also received offers for O&M and equity participation for Rolep (36MW), Ralong (48MW) & Chakung Chu(63MW) projects in Sikkim and some other gas-based projects in South India which is under examination of APGENCO Board.

Government official say APGENCO has now emerged as a National Player for the O&M operations in Hydel Sector extending its boundaries outside the state of Andhra Pradesh for the first time.

Expert opinion, therefore, is that APGENCO should concentrate only on providing its expertise in O&M for other States rather than frittering away its precious resources in equity outside.

This assumes significance in view of the growing power shortages which could go up to 3900 MW (93 million units) in the peak season. The Discoms in the State have floated a tender for purchase of 2000 MW (48 mu) from June to May next year. The Discoms could contract for purchase of only 742 MW, media reports said.

The average demand during May, 2012 was 262 MU per day against 227 MU per day during the same period last year registering an increase of 15.41%. Presently Discoms are supplying around 239 MU/day with a shortfall of 29 MU per day. The Peak demand met during May, 2012 (up to 28th) is 11099 MW against 10474 MW during the same period last year registering an increase of 5.97%.

During 2011-12, as against requirement of 91730 MU, 85149 MU was met resulting in a deficit of 6581 MU (7.2%).  Officials said power supply position in Andhra Pradesh is far better compared to many other States in the country.

Sahara launches 10 lifestyle townships; 58 more coming

Will have 76 LIVE projects by March 2013

Spread over a total of 900 acres, the 10 new projects will offer about 25 thousand residential units amidst world class amenities & facilities

Saharasri also announces that Sahara Infrastructure and Housing will enter the Affordable Housing Segment in January 2013

Lucknow, June 10, 2012: Sahara Infrastructure and Housing, the real estate division of Sahara India Pariwar, today announced 10 lifestyle township projects, of which 9 will be self sufficient integrated townships under the brand name of ‘Sahara City Homes’ and 1 under the brand name of ‘Sahara Grace’. The ceremony was marked by the flag-off of 10 cities done by ‘Saharasri’ Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar in a grand ‘Shubh Aagaman’ ceremony at Lucknow followed by simultaneous ‘Bhoomipujans’ and ‘Shubh Aagaman’ ceremony at all 10 projects sites. The flag-off by ‘Saharasri’ was directly telecasted at all the 10 project sites across India followed by relay of ‘Shubh Aagaman’ ceremony of each project site. On this occasion ‘Saharasri’ Subrata Roy Sahara, also announced to introduce another 58 projects within FY 2012 – 13 spread across India. Out of 58 projects, 21 will be township projects and 37 projects will belong to affordable housing segment. With this, Sahara will enter the Affordable Housing Segment under a new brand name and will address the supply gap in the mass housing segment. This new brand will make housing affordable to people by offering residential units in the price range of Rs. 5-15 lacs, across 350+ cities of India.

 

Speaking on this occasion, ‘Saharasri’ Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar said, “India has always been an attraction to the world for its magnificent architecture and vibrant lifestyle. While the magnificence of the ancient marvels of architecture stand tall for the world to see, the standard of living space across the nation has failed to match the change of time and the world standards, primarily due to lack of adequate up-gradation of support infrastructure; load of population and fractured & sporadic planning. It is my earnest desire to provide a lifestyle to the citizens of our beloved nation which matches the world’s best standards. We have vowed to develop comprehensive real estate projects offering quality lifestyle to people across the board covering not just Tier I cities but also Tier II, III and even small  towns, in congruence to the scales of income of people.”

 

He further said, “In our endeavour, we have witnessed many ups and downs in the industry and faced many challenges, many due to the magnitude of our vision; but I am happy that we have proved at all steps that our mission is undeterred. These 10 townships along with the ongoing 8 township projects and forthcoming 58 projects to be added in January 2013, enforce our commitment and I am sure that these projects will be the jewels of quality lifestyle”.   

 

Spread on a total area of 900 acres, the 10 projects will offer 25 thousand residential units along with a world class range of amenities and facilities. The Project Management of these 10 projects will be done by Sahara Turner Constructions Limited. The possessions of residential units is planned to start in 2.5 years with project completion in 5 years.

 

Out of the 10 projects, the 9 ‘Sahara City Homes’ integrated townships are coming up in the cities of Pune, Aurangabad, Jodhpur, Gwalior, Bareilly, Solapur, Porbandar, Katni, Kashipur while 1 ‘Sahara Grace’ brand of premium residential apartment cluster is coming up in Cuttak – Bhubaneshwar. These 10 cities will span across 7 States of India. Sahara City Homes, aimed to be the world’s largest chain of integrated townships, offers a relaxed, secure and healthy environment to its residents along with a wide range of amenities and facilities, matching up to the international standards. ‘Sahara City Homes’ integrated townships are currently being developed in 7 cities (Lucknow, Jaipur, Indore, Nagpur, Ahmedabad, Satna and Coimbatore). The possession of approximately 1000 residential units in ‘Sahara City Homes’ township of Lucknow, Jaipur, Indore and Nagpur has already been given. The company will deliver over 2000 residential units in the current financial year.  

 

Sahara Grace brand of residential apartment clusters has been a major success in Gurgaon and Lucknow where it has been completed and sold out. ‘Sahara Grace’ project is ongoing in Kochi and has now been introduced to twin city of Cuttak – Bhubaneswar. A fine balance between aesthetics and functionality, ‘Sahara Grace’ Bhubaneswar will offer facilities like gated community with 24X7 security guards, surveillance camera on each block, intercom facility for each unit, Electric substation, 24X7 Power back-up for common areas, rain water harvesting, fire control system, wide metalled roads and landscaped area.

 

Note for the Editor

About Sahara City Homes – Aimed to be the world’s largest chain of integrated townships, Sahara City Homes offers a relaxed, secure and healthy environment to its residents. An ideal blend of value addition amenities and facilities in a breathtaking environment, matching up to the international standards, Sahara City Homes is being made accessible even in smaller cities and towns which are currently being ignored by other large Real Estate Developers. The townships, offers a product mixes consisting of a combination of 1 to 5 bedrooms in the category of High Rise Apartments, Mid Rise Apartments, Independent Row Houses and Independent Bungalows.

 

Each ‘Sahara City Homes’ township (depending upon the size of the township and subject to regulatory approvals) offers its residents range of facilities like Floodlit Central Park, Shopping Malls & Multiplexes as well as Convenient Shopping, Hotels & Club, Clubs & Community Centers, Transport Services, School, Power Supply Back Up, Piped Cooking Gas, Petrol Pump and amenities like S.T.P & Garbage Disposal, Water Harvesting, Purified Drinking Water. As an extra safety measure, each township has Hospital, Ambulance service, Multi-Level Security System manned by security guards 24X7.

 

About Sahara Grace – ‘Sahara Grace’ brand of premium residential apartment clusters(depending upon the size of the project), will offer its residents various amenities like clubhouse, Swimming Pool, Health Club/ Gymnasium, Badminton Court, Billiards / Snooker and TT facility, Snack Counter and Kid’s play area. Along with these facilities, there will be a Hotel & shopping complex, Helipad, Multi-storied Car Parking, Multi-level Security System, Piped Gas Facility, In-house Fire Control System, Rain Water Harvesting System, as well as separate kid’s Play Area for all its residents.

 

As a safety measure for protection of life & property from Earthquake, construction of all projects (both Sahara City Homes and Sahara Grace), is designed at 1 level higher than the applicable seismic zone, as per the specifications of Bureau of Indian Standards.

 

ABOUT SAHARA INDIA PARIWAR

Sahara India Pariwar is a major business conglomerate in India with operations in multiple sectors, including financial services, life insurance, mutual funds, housing finance, infrastructure & housing, print and television news media, entertainment channels, cinema production, consumer merchandise retail, healthcare, hospitality, manufacturing, sports, and information technology.

 

 

For further Information please contact:

Ghulam Zeeshan
Assistant Chief Manager, Corporate Communications, Sahara India Pariwar,

Handphone – 9335235621 : Email – zeeshan.ghulam@saharacorpcomm.in, ghulam.zeeshan@gmail.com

 

 

 

 

Details of the each of the 10 projects launched today are enclosed with the Press Release as Annexure 1

Annexure 1

Details of the each of the 10 New Projects

 

Sahara City Homes, Pune

Strategically located at Survey No. 10, Village Dhanori Porwal Road, Near Octrai Naka, off. Vishrantwadi-Lohegaon Road, Pune, the Sahara City Homes, Pune, is a part of the world’s largest chain of  high quality township.

Spread over an area of 107.01 acres, the project will have a total of 5141 residential units. The product mix includes 1 BHK, 2 BHK, 2.5 BHK, and 3 BHK units. The project will boast of amenities such as Hotel, Mall & Multiplex, School, Hospital, Petrol Pump, Convenient Shopping and Central Park – Stadium (Under Reservation). The facilities offered to the residents of Sahara City Homes, Pune include Bharat Mata Naman Sthal, Club, Club & Community Centre, Broadband Connectivity, Garbage Disposal System, Closed Circuit T.V., Fire Tender Services, Ambulance Services, Security System, Skating Ring, Wave Pool,100% Standby Electric Power Back-Up, Transportation Facility, S.T.P., Rain Water Harvesting, Purified Drinking Water and Piped Gas.

 

Sahara City Homes, Aurangabad

Strategically located at NH-211, Beed By-Pass Village, Gandheli, Aurangabad, the Sahara City Homes, Aurangabad, is a part of the world’s largest chain of high quality township.

Spread over an area of 81.91 acres, the project will have a total of 2292 residential units. The product mix includes 1 BHK, 2 BHK, 3 BHK units and Row Houses. The project will boast of amenities such as Hotel with Club, Mall & Multiplex, Primary School, Hospital, School, Exclusive Club, Club & Community Centre and Central Park – Play Ground. The facilities offered to the residents of Sahara City Homes, Aurangabad include Bharat Mata Naman Sthal, Broadband Connectivity, Garbage Disposal System, Closed Circuit T.V., Fire Tender Services, Ambulance Services, Security System,  Electric Power Back-Up, Transportation Facility, S.T.P. and  Rain Water Harvesting.

 

Sahara City Homes, Jodhpur

Strategically located at Pal-Gangana Road, near ‘Our Lady of Pillar’ Convent School, Barmer Highway, Pal Road, Jodhpur, the Sahara City Homes, Jodhpur, is a part of the world’s largest chain of self sufficient high quality township.  

Spread over an area of 76.21 acres, the project will have a total of 1523 residential units. The product mix includes 2 BHK units with Study, 3 BHK units and villas. The project will boast of amenities such as Hotel, Mall & Multiplex, Primary & Nursery School, Sr. Secondary School, Hospital, Convenient Shopping, Club, Community Centre, Cricket Ground, Post Office & Telephone Exchange and Electric Sub-Station. The facilities offered to the residents of Sahara City Homes, Jodhpur include Bharat Mata Naman Sthal, Compound Wall, Sewerage Treatment Plant and Treated Water Plant.

 

Sahara City Homes, Gwalior

Strategically located at Jhande ka Pura, Maharajpura on Tighra Road, NH-3, Gwalior, the Sahara City Homes, Gwalior, is a part of the world’s largest chain of self sufficient high quality township.

Spread over an area of 106.62 acres, the project will have a total of 2231 residential units. The product mix includes 2 BHK units with Study, 3 BHK units and villas. The project will boast of amenities such as Hotel, Mall & Multiplex, Primary & Nursery School, Sr. Secondary School, Hospital, Convenient Shopping, Club, Community Centre, Cricket Ground, Post Office & Telephone Exchange and Electric Sub-Station. The facilities offered to the residents of Sahara City Homes, Gwalior include Bharat Mata Naman Sthal, Compound Wall, Sewerage Treatment Plant and Treated Water Plant.

Sahara City Homes, Bareilly

Strategically located at Village Mundia Ahmed Nagar, Pilibhit Road, Bareilly, the Sahara City Homes, Bareilly, is a part of the world’s largest chain of self sufficient high quality township.

Spread over an area of 79.23 acres, the project will have a total of 1724 residential units. The product mix includes 2 BHK units with Study, 3 BHK units and villas. The project will boast of amenities such as Mall cum Hotel, Multiplex, Primary & Nursery School, Sr. Secondary School, Hospital, Petrol Pump, Convenient Shopping, Club, Community Centre, Cricket Ground, Post Office & Telephone Exchange, Electric Sub-Station and Police Post. The facilities offered to the residents of Sahara City Homes, Bareilly include Bharat Mata Naman Sthal, Compound Wall, Sewerage Treatment Plant and Treated Water Plant.

Sahara City Homes, Solapur

Strategically located Opposite Janglee Hotel, NH.-09, Pune Highway, Post Office -Bale, Solapur, the Sahara City Homes, Solapur, is a part of the world’s largest chain of self sufficient high quality township.

Spread over an area of 107.84 acres, the project will have a total of 3547 residential units. The product mix includes 1 BHK, 2 BHK and 3 BHK units. The project will boast of amenities such as Hotel, Mall & Multiplex, School, Hospital, Club, Community Centre and Central Park – Play Ground. The facilities offered to the residents of Sahara City Homes, Solapur include Bharat Mata Naman Sthal, Broadband Connectivity, Garbage Disposal System, Fire Tender Services, Ambulance Services, Security System, Irrigation System,  Electric Power Back-Up, Transportation Facility, S.T.P. and Water Harvesting.

Sahara City Homes, Porbandar

Strategically located at Vanana, NH-8, Near Vachhraj Gas Pump Porbandar Gujarat, the Sahara City Homes, Porbandar, is a part of the world’s largest chain of high quality township.  

Spread over an area of 94.92 acres, the project will have a total of 3163 residential units. The product mix includes 2 BHK, 3 BHK, 4 BHK, Row Houses, Twin Bungalow and Villas. The project will boast of amenities such as Hotel, Mall & Multiplex, School, Hospital / Healthcare Centre, Petrol Pump Club & Community Centre. The facilities offered to the residents of Sahara City Homes, Porbandar include Bharat Mata Naman Sthal, Broadband Connectivity, Garbage Disposal System, Fire Tender Services, Ambulance Services, Security System, Electric Power Back-Up, Transportation Facility, S.T.P. and Rain Water Harvesting.

Sahara City Homes, Katni

Strategically located at Village & Post – Chaka, Near Kymore Tiraha, NH-7, Mirzapur Road, Katni, the Sahara City Homes, Katni, is a part of the world’s largest chain of self sufficient high quality township.

Spread over an area of 99.43 acres, the project will have a total of 3547 residential units. The product mix includes 2 BHK, 3 BHK units, Duplex and Bungalow. The project will boast of amenities such as Hotel, School, Hospital, Petrol Pump and Convenient Shopping. The facilities offered to the residents of Sahara City Homes, Katni include Bharat Mata Naman Sthal, Garbage Disposal System, Fire Tender Services, Ambulance Services, Security System, 100% Standby Electric Power Back-Up, Transportation Facility, S.T.P. and Rain Water Harvesting.

 

Sahara City Homes, Kashipur

Strategically located at NH-121, Ram Nagar Road, Kashipur, Udham Singh Nagar, Uttarakhand, the Sahara City Homes, Kashipur, is a part of the world’s largest chain of self sufficient high quality township.

Spread over an area of 32.27 acres, the project will have a total of 680 residential units. The product mix includes 2 BHK units with Study, 3 BHK units and villas. The project will boast of amenities such as Commercial, Primary & Nursery School, Hospital, Convenient Shopping, Club, Community Centre and Post Office & Telephone Exchange. The facilities offered to the residents of Sahara City Homes, Kashipur include Bharat Mata Naman Sthal, Compound Wall and Sewerage Treatment Plant.

 

 Sahara Grace, Bhubaneshwar

Strategically located at NH-5, Pratapnagari, Cuttack, is a brand of premium residential apartment clusters that shall offer a fine balance between aesthetics and functionality.

Spread over an area of 10.675 acres, the project will have a total of 554 residential units. The product mix includes 2 bedroom units, 3 bedroom units and penthouses. The project will boast of amenities such as Mall & Multiplex, School, Club & Community Centre and Convenient Shopping subject to the approval of authorities.

Engineering marvels at Teesta-III

• South African giant Shaft Sinkers achieves wonders 

GANGTOK: In an engineering marvel at ongoing Teesta-III hydro electric project, Shaft Sinking method has been deployed to save as much as 15 months in the Project schedule.

 The technique is being executed by Shaft Sinkers of South Africa and this is their first such assignmentin India. 

Official sources say the results are “very much encouraging”. Shaft Sinking method was adopted when all other traditional methods are found either unsuitable or unfeasible.

This method usually applied in Mines. With Teesta-III Shaft Sinkers diversified into hydro-electric schemes. 

Teesta Urja is environmental friendly and has got the most dependable hydrology as the major project component is underground, having minimum impact on environment. 

On winning the Sikkim contract, Shaft Sinkers MD, Rob Schroder said the challenges involved in this project were immense: “For one, the road is a single narrow track in the Himalayas and it will take more than 14 hours to move equipment 15 kilometres to the site and the laydown area is extremely narrow. It is similar to the conditions we worked in previously at a job in Laos. 

Shaft Sinkers has been sinking shafts through every type of rock strata for more than 47 years and has achieved worldwide acclaim helping cement South Africa’s reputation as one of the world’s most advanced countries in shaft sinking and mining technology.Projects include not only vertical shaft sinking but also a variety of excavations for underground winders, pump chambers, rock silos, loading stations, settlers and dams. The company is also involved in hydro-electric schemes, road and railway tunnels and other major civil engineering projects. 

Shaft Sinkers has been active internationally in Lesotho, Zambia, the DRC, Namibia, Tanzania, Botswana, Ghana, Sierra Leone, Mali, Zimbabwe Swaziland, Israel, Ireland, England, France, Switzerland, Laos, Indonesia, Tasmania, Chile, Argentina, and Brazil.