Personal Finance

CMDA gets nod for satellite bus terminal

OUR CHENNAI BUREAU | Updated on November 05, 2011 Published on November 05, 2011

The Tamil Nadu Government has approved the Chennai Metropolitan Development Authority's (CMDA) proposal to develop two satellite inter-city bus terminals at a total cost of Rs 80 crore.

One facility is to come up to the North of Chennai at the Madhavaram Bus and Truck Terminal on an 8-acre vacant site, by shifting some of the bus services operated through the Grand Northern Trunk Road.

The other terminal will be at a cost of Rs 48 crore in Velachery, a southern suburb, on a 12-acre vacant site available near the Velachery Rapid Transit System station and will be part of the bus interchange to the Mass Rapid Transit System. Some of the bus services operated through the East Coast Road and the Old Mahabalipuram Road will be shifted here.

These will supplement the Chennai Mofussil Bus Terminus at Koyambedu. As was done for this terminus, the two satellite facilities will be funded through the Infrastructure and Amenities Charges.

The Tamil Nadu Urban Infrastructure Financial Services Ltd will be consultants for the feasibility report to be commissioned by the CMDA, according to the order by the Housing and Urban Development Department, dated October 31, 2011.

Excon 2011 for construction equipment

The Confederation of Indian Industry (CII) is organising Excon 2011, one of the largest events in South Asia, to showcase the construction equipment sector.

The event is to be held in Bangalore between November 23 and 27, at the Bangalore International Exhibition Centre. Spread over 200,000 square metres, with 600 exhibitors, including 200 overseas companies, the event will be a forum for launching more than 400 new products by the participants, according to a press release from the CII.

At a road show in Chennai, industry representatives, including Mr Anand Sundaresan, Chairman, CII Chennai Zone & Managing Director, Schwing Stetter (India) Pvt Ltd; Mr V. G. Sakthikumar, Member, Excon 2011 Steering Committee and Mr N. Raghunathan, Chairman, Builders' Association of India, highlighted the main aspects of the event, which is into its sixth edition, the release said.

There will be country pavilions, including from China, Germany, Italy, Japan, South Korea, Spain, Turkey and Finland. Excon 2011 would also have a large presence of SMEs in the component and aggregate manufacturing sector, showcasing India's potential as a preferred outsourcing destination for construction equipment manufacturing. With the participation of leading players in the construction equipment industry, the exhibition will facilitate sustainable development of infrastructure and related sectors in India. The goal will be to accelerate the road-building capacity, enhance rural connectivity and inclusive growth, and focus on urban renewal by improving the quality of life in fast-growing Indian cities.

The Government of Karnataka is the Partner State for Excon 2011, and the Indian Earthmoving & Construction Industry Association is the Sector Partner. The event is supported by the Builders' Association of India. Coinciding with Excon 2011, CII will organise ‘The India Infrastructure Dialogue — Roads & Highways' on November 23, 2011, at the BIEC, Bangalore. IECIAL, an affiliate body of CII, will host a 2-day conference on ‘ECE Industry - Vision 2020 and Beyond' and a members' meet by the Builders' Association of India.

HUL hill station property for sale

Hindustan Unilever Ltd (HUL) has decided to sell a 2.05-acre plot at Coonoor, a popular hill station near Ooty, in the Nilgiris district.

International property consultants, Jones Lang LaSalle, which is handling the deal, has advertised in the newspapers that the levelled land parcel, with a 20,910-square-foot structure in Bedford within Coonoor town, is ideal for hospitality and retail development.

According to market information, estimates for the property range around Rs 10-12 crore. The location is in a posh, upmarket area, making it suitable for high-end residential projects also.

Vijay Shanthi launches Boulevard

The Chennai-based Vijay Shanthi Builders has launched a value housing project on a 5-acre plot, to offer more than 300 apartments approximately 20 km south of Chennai off the NH 45.

The project ‘Boulevard', on the Vandalur-Kelambakkam Road, offers apartments priced at approximately Rs 35-40 lakh, with an area of approximately 1,170-1,250 square feet. A unique feature of the project is the similar size of apartments, all of which will be of 3-bedroom-hall-kitchen. The goal is to promote close-knit community living, says the press release.

The apartments will be spread across five towers of Ground-plus-nine floors. As a value housing project, it will offer some of the high-end amenities at affordable prices. The project is approximately 5 km from GST Road (NH 45) and is well-connected to the IT corridor and the Outer Ring Road of Chennai.

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