In­dia’s Posh­est En­clave to Shrink in Size, Grow Taller

Eight su­per-exclusive ar­eas to be taken out of Delhi’s Lu­tyens Bun­ga­low Zone as DUAC over­rules ob­jec­tions

The Economic Times - - Front Page - Nidhi.Sharma@ times­group.com

New Delhi: New Delhi’s Lu­tyens Bun­ga­low Zone — ar­guably In­dia’s most priv­i­leged ur­ban en­clave — is set to shrink, and the country’s cap­i­tal will wit­ness a real es­tate par­a­digm shift. Lu­tyens Bun­ga­low Zone (LBZ) houses the country’s po­lit­i­cal su­per elite as well as res­i­dences of some of In­dia’s rich­est busi­ness barons. But the Delhi Ur­ban Art Com­mis­sion (DUAC) — a body that takes big calls on the city’s de­vel­op­ment — has dis­missed ob­jec­tions from con­ser­va­tion­ists and prom­i­nent Del­hi­ites and has rec­om­mended that eight su­per-posh res­i­den­tial ar­eas be ex­cluded from LBZ.

This means re­lax­ations of the floor area ra­tio (FAR) for th­ese soon-to-be ex-Lu­tyens ad­dresses and the pos­si­ble ar­rival of high­rises in ar­eas known for grand low-rise res­i­dences. Also, since the Lu­tyens ‘pre­mium’ on real es­tate prices in th­ese ar­eas may get re­duced or may go, new build­ing ac­tiv­ity will get an ad­di­tional boost.

In­dus­try cap­tains with LBZ res­i­dences in­clude LN Mit­tal, Naveen Jin­dal, KP Singh, Su­nil Mit­tal, Shashi and Ravi Ruia of the Es­sar Group, Malvin­der and Shivin­der Singh, and Analjit Singh. Jor Bagh, Chanakya­puri,

Pa­tel Marg, Ben­gali Mar­ket floor area ra­tio (FAR)

high-rises

new build­ing ac­tiv­ity Sar­dar

DUAC re­port says LBZ’s to­tal area should come down from 28.73 sq km to 23.60 sq km

of

“We are look­ing for a com­pany which can scale not 2-3 times but 2030 times. Then there is value,” said a rep­re­sen­ta­tive for a China-based in­vest­men­tNew Delhi: com­pa­nyTea­gar­dens-that­dot­te­drecently heldNa­gaondis­cus­sion­sinAs­sam and­with­EastIn­di­anSikkim­inter­netinnorth-firms,east,de­clin­ingBikan­er­toin­bethei­den­ti­fied­west, be­causeHamir­pur­thein Hi­machaltalk­swerePradesh­stil­lun­der-and way.Vishaka­p­at­namNo­ne­oftheinChi­ne­seAndhraPradesh­in­vestors men­tionedinthe­southreplied–area­mong­toe­mail­s­theto­pordis-mes­sagestrict­sleft­short-on­list­edtheir by­web­sites­forthebest­byET.im­ple­men­ta­tionVen­ture­cap­i­talof4pri­or­i­ty­in­vest­mentspro­fell dras­ti­cal­ly­gramme­sof bytheoverModi80%govern­ment.inthe­first quar­ter71dis­trict­sof2016of­theto$coun­try337mil­lion­fea­ture(aboutin Rs­the2,200short-crore)list­for 10fro­mawards$1.79to­bil­lion­be­givenin the­away­cor­re­spond­ing­byPMNaren­drayear-Mo­di­a­goon­pe­riod,April as21 on­megaCivil Ser­vices­fi­nanc­ingDay.round­sEThad earli-dis­ap­peared­er­re­portedandthat­dealthe­sizesCen­treshrunk.calledLargeup in­ter­net­n­early7.62com­pa­nies­lakh­peo­ple­suchinthe­seasFlip­kart71disandtrict­sS­napdeal,toask­them­too,aboutarethestrug­glingim­ple- to raise money at ex­ist­ing val­u­a­tions.

The cor­rec­tion in the num­ber and grew 11.9% in con­stant cur­rency which ac­count for about 41% of size of trans­ac­tions has been the terms. In­fosys re­ported 13.3% the com­pany’s rev­enue, grew sharpest at the late-growth stage (by growth for the year. The Na­tional 3.2% se­quen­tially in con­stant cur­men­ta­tion75-80%),ofwherethep­ri­or­i­tytheChi­ne­seschemes.inves-lec­tor. The“Our­dis­trict­corecon­cen­trat­ed­port­fo­liop­er­forme­donofWhat­sAp­pAs­so­ci­a­tion­for­mon­i­tor­ing.ofSoft­ware and Ser-im­ple­ment­ing Swachhrency.Bharat.Growth in Thoughtor­sarethe­ex­pect­ed­fi­nal­win­ner­stosteparein.stil­lLastto year,“be­havioural­strong­ly­changeina and­sea­son­al­lypride,notweak Sikkim’sfo-vicesEast,Com­pa­niesSout­hand(WestNass­com)dishas For the Swachh Vid­hyalay­athat­seg­ment has beTen­cen­tan­nounced,led th­easeries-Distric­tCin­vest­ment ofjust con­struc­tionurthquar­ter,oftoi­lets”drive­nand­byuse­s­trong vo-tricts­saidalso arethat­fron­trun­ner­si­t­ex­pect­s­the­forindus­trybest toscheme, the DCs of­been keenly watMag­is­trates$90mil­lionofin­short-health­carelisted­dis­trict­sap­pPracto. lumes-led growth in BFSI (ban­have grown by12.3% in FY16. Nas-Vishaka­p­at­nam and­chedA­nan­tha­pu­rafterCog­niNa­gaon,WithChi­naBikaner,brac­ingHamir­pur,fora de­pres­sion king, fi­nan­cial ser­vices, in­sur­anscom said it ex­pects the In­dian ITin Andhra Pradeshzan­thave­said­been­it­was­in­faA­nan­tha­pur,and­sev­er­alVishaka­p­at­nam,large­glob­al­mar­ket­sEast in a ce), re­tail and man­u­fac­tur­ing secin­dus­try to grow 10-12% in FY17.vited to be on the pan­el­cing­head­winds­dis­cus­sion­sin Sikkim­slump,andIn­di­aSec­re­tary,rep­re­sentsE­d­u­ca­tion­abigop­por­tu­tors. This gives us good growth In­fosys has said it ex­pects its re-along with Sec­re­tary­it­sBFSI(Ed­u­ca­tion),busi­ness. (J&ni­tyK)have­forin­vestors­beens­e­lect­ed­with­toits­besteady­partof eco­mo­men­tum go­ing into the new fiv­enue to grow be­tween 11.5% andJ&K with the state’sTCSA­nant­na­gadded­dig­i­ta­land the­nomic­pan­el­growth.dis­cus­sion­sAlso,toecom­merce­be­hel­don sales nan­cial year,” CEO N Chan­drase13.5% in the same pe­riod. Ra­jouri dis­tricts short-ser­vices­list­ed­con­tribu-for April­inIn­dia20,eachare­to­ex­pect­ed­bechaired­togrow­by­a­cen-to$55 bilka­ran said. He added that while “This was a good quar­ter. It wo-best progress on con­struct­ingted15.5%toit­stoi-reve­tral­lion­min­is­terin2018­for­fromthe$four14­bil­lion­pri­or­i­tyin 2015, ac­the com­pany would not pro­vide a uld have Vishaka­p­at­nam,been a stronger sig­nal iflets in schools. Vishaka­p­at­nam­nue.The­com­pa­ny­too schemes.cord­ing to re­search firm eMar­keter. fi­nan­cial fore­cast, he Anan­tha­pur,ex­pects to Anant­nagthey had and also Ra­jouri. beat on rev­enue.the help of 14 PSU’sal­sowhocrosse­dun­der$1 bil

Bikaner,Evenso,theChi­ne­se­fourth­largestin­vestors­dis­trictare­tread­have a ‘strong’ FY17. But the growth Bikaner, in Sikkim’sBFSI was enco-their Cor­po­rate So­cial­lionin rev­enue from in­ingth­e­with­coun­try,ex­tremeis­mean­while­cau­tion,ahav­ingfron­twitBut the bet­ter-than-ex­pect­edEast, West and urag­ing.South dis­tricts Also the fact that theyRe­spon­si­bil­ity built­the1605In­di­a­toi­lets­mar­ket.in run­ner­nessed­for­giants­thebest­suchdis­tric­tasUSim­ple-hedge fund per­for­mance was not enough to didn’t cite spe­cific head­winds forschools in the district.“TCSThenowdis­trict­needs ment­ingTigerGlob­alSwach­hMan­age­men­tBharat(Gramin)dropas­pace pro­pel TCS’ an­nual growth rate next year,” Na­gaon, an Mo­rad­abad,an­a­lyst with aal­so­to­suc­cess­ful­ly­main­tainthis­madesuc­cess­bio-toi­lets.in­ex­ceeit isin­nowIn­di­aa­com­pletein­part­be­causeOut­doo­rof the patchy past that of its Ban­ga­lore-basedAza­m­garh Mum­bai-based bro­ker­age told Na­gaonding­ex­pec­ta­tion­shasputitscasethrough­out­for­ward the Defe­ca­tion­busi­nessFree­fun­da­men­tals­dis­trict­throughof­do­mes­tica ri­val In­fosys. ET. Hamir­pur,He de­clined East to Sikkimbe iden­ti­fied. for nextim­ple­ment­ingfewquar­ter­sPM­toJan­gainDhan­back the cam­paign­in­ter­net­launched­com­pa­nies.bya woman col- For the full-year, TCS’ rev­enue Bank­ing and fi­nan­cial ser­vices,Yo­j­nao­rig­i­nal(PMJDY)lev­e­land­of­mar­ket­increase­cred­i­bili-of ty and con­fi­dence,” said San­joy Sen, a for­mer head of in­for­ma­tion tech­nol­ogy at Deloitte who is 153%now­in­with­thenum­bertheAstonof­bankBusi­nes­sac­countsS­choolin­inthethedis­trict,Unit­ed­fromKing­dom.2.79 lakhTCS’bankre­sult­sac­countscome­tothree­n­ear­ly­days­sev­e­naflakh.tertheAza­m­garhcom­pa­nyand­wasMo­rad­abad­slapped­with al­soan­earl­yareshort-$1-bil­lion­list­edfinea­mon­gandthosedam­abest­ges­im­ple­ment­ing­byaUSjury­inPMJDY.acase that in­Hamir­pur­volvedtheft­inHi­machalof­trades­e­cret­sPradesh­from hashealth­careputu­pacas­esoft­wareof100% sam­pleprovider soilEpic­col­lec­tionSys­tems.forInKhar­i­fas­tate­men­tandRabion crop­sSatur­day,intheTCSlast fi­nan­cialde­niedanyyear­wrong-for ex­cel­lence­doin­gan­dun­der­saidit­the­wouldSoilap­peal.Health Card“Ass­cheme.youwould ex­pect, we are de

MoSal­ingFi­nance­with­si­t­u­a­tion.Jayan­tSinha,WeareHRD­talMin­is­terk­ing­totheSm­ri­tipeo­pleIrani,weDrink­ingneed­totalk Waterto,”Chan­drasekaranMin­is­terRamKri­pal­saidYa­da­vatthe and­post-Agri­cul­tureearn­ings pressMin­is­ter­con­fer­ence.Radha Mo­hanThe­mar­ket­sSingh­will­toobe­brushed­chairingaside­pan­elTCS’dis­cus­sion­sle­gal­has­sleson­the four­a­sit­spri­or­i­tyshares schemesclosed­just­with0.15%theDC’sdownononAprilNSE.20.

TCS’ rev­enue grew 11.9% in con­stant cur­rency terms. In­fosys re­ported a 13.3% growth

Il­lus­tra­tion: ANIR­BAN

Dis­tricts rep­re­sent­ing vir­tu­ally all cor­ners of the na­tions make it to fi­nal list of 71

Swachh Vid­hyalya Swach Bharat (Gramin) PM Jan Dhan Yo­jna Soil Health Card

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