Kolte-Patil Developers to add 10 mn sq ft of new construction New rules for H-1B visa mild negative for Indian IT services: ICRA

Kolte-Patil Developers Ltd sees a "positive impact" of Maharashtra government's decision to halve development premium on realty projects on the company's 1.2 mln sq f t of proposed project launches in Mumbai. The company is looking to add about 10 mln sq f t of construction area in the next 12-18 months across Maharashtra.

The proposed changes in H-1B application selection process by US Citizenship and Immigration Services (USCIS) are prospective in nature but will have a minor adverse impact on the margins of Indian IT services companies, investment information agency ICRA has said. The H-1B application selection process will be based on wage levels compared to an earlier selection method based on lotter y.