Office rentals may rise by 25 per cent says Cushman & Wakefield
NEW DELHI: One would imagine that office rents would go down with a strong bounceback in demand for space from corporates. Pure economics, one would think? Not really. Office rentals are likely to climb up in the coming months because of a shortage of quality spaces in key business districts around the country. “In certain key locations, rentals could go up 20-25 per cent in the next 12 months,” says Sanjay Dutt, executive managing director for South Asia at property consultancy Cushman & Wakefield. The situation has been brought on by the fact that most developers and even private equity players have chosen to focus on the residential property market […]
Steep rentals, lack of quality retail real estate making it tough for luxury brands to expand business in India
MUMBAI/DELHI: Niche luxury brands like Italian suit maker Kiton and British shoemaker John Lobb have started bespoke made-to-order services in India, but they are in no hurry to open swanky stores in the country. Reason: inability to find a place on the right location at reasonable rates. “Rentals in India are as high as international markets, but the demand is not as much,” said Pratik Dalmia, founder of Mumbai-based Regalia Luxury, which has the rights to market and sell Kiton and John Lobb brands in India. Steep rentals and lack of quality retail real estate at strategic locations near high-income neighbourhoods are making it hard for luxury brands to expand […]
Ken Buck aide among those accused of election fraud, corruption by Weld County GOP chair
The Weld County GOP chairman has filed a complaint with the local district attorney and the Secretary of State’s Office accusing an aide to Republican U.S. Rep. Ken Buck and three others of election fraud and corruption.
Colorado Republican Chair Ken Buck in the hot seat after revelations over election results
Colorado Republican Chairman Ken Buck is facing criticism from within his own party after revelations that he pressured another party official to submit incorrect election results — and then spent party money to defend the move. At least two party executives say they were surprised to learn Buck — who’s also a U.S. representative — […]
Justice Department dropping Flynn’s Trump-Russia case
The Justice Department on Thursday said it is dropping the criminal case against President Donald Trump's first national security adviser, Michael Flynn, abandoning a prosecution that became a rallying cry for the president and his supporters in attacking the FBI's Trump-Russia investigation.
Unanimous Supreme Court throws out “Bridgegate” convictions
A unanimous Supreme Court on Thursday threw out the convictions of two political insiders involved in the “Bridgegate” scandal that ultimately derailed the 2016 presidential bid of then-New Jersey Gov. Chris Christie. The justices found evidence of deception, corruption and abuse of power in the scheme, but said “not every corrupt act by state or local officials is a federal crime.”
Face masks make a political statement in era of coronavirus
The decision to wear a mask in public is becoming a political statement — a moment to pick sides in a brewing culture war over containing the coronavirus.
U.S. shelves detailed guide to reopening country amid coronavirus outbreak
A document created by the nation's top disease investigators with step-by-step advice to local authorities on how and when to reopen restaurants and other public places during the still-raging outbreak has been shelved by the Trump administration.
Colorado GOP Chair Ken Buck pressured local official to submit incorrect election results
Colorado Republican Party Chair Ken Buck, a U.S. representative from Windsor, pressured a local party official to submit incorrect election results to set the primary ballot for a state Senate seat, according to an audio recording of a conference call obtained by The Denver Post.
Trump: COVID-19 task force not dismantling, just refocusing
One day after saying that the White House COVID-19 task force would be winding down, President Donald Trump said Wednesday it would continue indefinitely but focus more on rebooting the economy.
Justice Ginsburg in hospital with infection, court says
Justice Ruth Bader Ginsburg was hospitalized Tuesday with an infection caused by a gallstone, the Supreme Court said.
Trump tours, touts mask factory — but no mask for him
Making himself Exhibit A for reopening the country, President Donald Trump visited an Arizona face mask factory Tuesday, using the trip to demonstrate his determination to see an easing of stay-at-home orders even as the coronavirus remains a dire threat. Trump did not wear a mask despite guidelines saying they should be worn inside the factory at all times.
Real-estate firm asked to pay over Rs 11 lakhs for deficiency of service
NEW DELHI: The Delhi state consumer panel has asked real estate firm Omaxe Buildhome Pvt Ltd to pay over Rs 11 lakh to a retired Indian Airlines official after holding the realty firm of “deficiency of service” in the allotment of a flat at Greater Noida in Uttar Pradesh. The Delhi State Consumer Disputes Redressal Commission (SCDRC), presided by judicial member S A Siddiqui, asked the firm to pay Rs 11.14 lakh to Secunderabad resident Pradeep Chaudhary. Chaudhary had approached the Commission alleging “unfair trade practice” and “deficiency of service” on the firm’s part and said that despite his strong opposition, the company, on its own, changed the location of […]
FDI in real estate may double after easing of rules: NAREDCO
NEW DELHI: Foreign direct investment (FDI) in the real estate sector could jump over two-fold in the next one year with easing of FDI rules in the construction sector, realtors’ body NAREDCO said today. Real estate developers and consultants were of the view that this move would give fillip to cash-starved realty sector, which is reeling under a slowdown since last 2-3 years. It will help developers in raising funds to complete projects. Yesterday, the Cabinet relaxed FDI rules in construction sector by reducing minimum built-up area as well as capital requirement and easing the exit norms. “Reduction in minimum built-up area to 20,000 sq meters from 50,000 sq meters […]
PM’s plan for 100 smart cities: Government set to ease norms for FDI in construction
NEW DELHI: The Narendra Modi government is set to substantially ease norms for foreign investment in the construction sector, hoping to drum up interest in the prime minister’s plans for 100 smart cities as well his affordable housing initiative. The government is seriously considering the removal of all restrictions on size and minimum capitalisation for the smart cities as well as affordable housing projects. “The discussions are on for exempting smart cities from all FDI conditionalities. We need to give them a push by making it attractive for investors,” said a government official. The new policy is also expected to provide easier exit windows.The proposal could be moved for the […]
Indian home prices fell most in 52 nations, says IMF
NEW DELHI: Is India’s real estate bubble finally bursting? The International Monetary Fund’s recently-launched data series on global housing prices hints at that. Among 52 major markets for which IMF has collated house price data, India has witnessed the steepest fall. IMF’s calculation on the annual percentage change in property prices shows that prices in India fell by 9.1 per cent, the highest among major real estate markets. The fall is even worse than in countries struggling with the ongoing European Union’s financial crisis. Property prices in Greece, Italy, Cyprus, Spain and Portugal have all come down, but at a much slower rate. Ireland, on the other hand, registered a […]
Chandigarh Board scraps housing scheme amid poor response
The Chandigarh Housing Board (CHB) has terminated its housing scheme, which was announced last year, amid poor response. Applicants who were picked on the basis of a demand survey will get their paid amounts refunded while a new scheme is framed. The housing scheme in Chandigarh, which would have offered homes in Sector 53, has reportedly been scrapped by the housing board, CHB. Officials have been asked by the government to frame a new, which would be more affordable. The scheme was criticised for being so expensive. For 492 flats, Chandigarh Housing Scheme received only 178 applications despite the board reducing the prices of the flats twice and also extending the […]
Realty group investors allege fraud
CHANDIGARH: TDI Investors Association, which includes 70 member investors from Chandigarh, on Wednesday created a row, alleging that the owners had cheated them of Rs 150 crore. The association, in a press conference, alleged that a legal agreement was signed between the company and the members in 2005 after which they paid 80% of the cost for showrooms in the mall and were promised possession by 2008. The members blamed the company of not giving them possession till date and neither paying them the returns. The project includes 70 shops varying from 400 sq ft to 1,000 sq ft. TDI chairman Ravinder Taneja, however, trashed the allegations, blaming the authorities […]
HC sets aside order to ‘benefit’ landowners
Tribune News Service Chandigarh, February 21 Displaying the humanitarian side of law, the Punjab and Haryana High Court in a rare judgment has set aside a lower court order, though it was neither illegal, nor erroneous. Justice Rajiv Narain Raina made it clear that the judgment granting yet another opportunity to farmers to plead their case for a higher compensation for acquired land was being passed to “avoid miscarriage of justiceâ€. The order came on a petition filed by Vijay Kumar and another petitioner against Haryana and other respondents. Their evidence in support of plea to enhance compensation awarded by the Land Acquisition Collector was turned down on the ground […]
Haryana revises sub-regional plan, but builders must wait for change of land use licences
CHANDIGARH/GURGAON: There is a ray of hope for real estate projects awaiting change of land use (CLU) licences from the state government. The department of town and country planning on Tuesday submitted a revised sub-regional plan to the NCR Planning Board (NCRPB). The builders, however, will have to wait till the board approves the revised plan. Last month, the Punjab and Haryana high court had barred the state government from issuing CLU licences to developers or government agencies in NCR because of the same reason. Earlier, the NCRPB had highlighted loopholes in Haryana’s draft of the sub-regional plan, but the government failed to incorporate the changes. After a rap from […]
The revival mode
TNS Property market in the tricity and its periphery is coming back to life with fresh transactions and possessions being handed over in the existing projects Though the chill in the air has shown no signs of slackening so far in 2014, there are signs of a thaw in the realty scene in the tricity and its periphery areas in the new year. While 2013 had been tagged as one of the most dismal years for the property market in the Chandigarh, Panchkula and Mohali area by market watchers, no miracles were foreseen for 2014 in view of the soaring inflation figures, low GDP growth and impending general elections. But […]
CHB auction flops as only 2 out of 145 properties sold
The auction of commercial properties held by the Chandigarh Housing Board flopped with just two booths finding any takers on Wednesday. A total of 145 booths, bay shops and a restaurant site were to go under the hammer. The two properties that were auctioned fetched a little over the reserve price. The CHB auction of booths held in 2009 had also flopped with no property being auctioned. Among the booths that were auctioned was one in Sector 38 (West). This fetched Rs 61.13 lakh, just Rs 25,000 more than the reserve price. Another booth in Manimajra fetched Rs 60.25 lakh, which was Rs 27,000 more than the reserve price. The […]
No service tax on conversion of plots
Central Excise Commissioner waives Rs 24.34 crore tax, affected plot owners hail decision Tribune News Service Chandigarh, February 6 In a relief to the converted plot holders in Industrial Area, Phase I, and Phase II, the Commissioner, Customs and Central Excise Department, has ruled that there will be not service tax on conversion of plots. This order will imply on those who have converted their plots from industrial to commercial. Besides, the Commissioner has also waived Rs 24.34 crore service tax. A show-cause notice for the service tax was issued to the UT Estate Office in July 2013 for not depositing service tax. The department had issued notice of Rs […]
Experts call for providing COVID-19 patients at home with tele-consultation
Expressing serious concern over dozens of unexplained deaths of asymptomatic COVID-19 patients in home isolation in Sindh, local and foreign health experts have advised the government to provide tele-consultation to the patients in home isolation on a regular basis.The experts also asked the...
Five more fall prey to coronavirus in Sindh
With more five people falling victim to the novel coronavirus in a day, the death toll rose to 176 in Sindh on Friday. Four out of the deceased diagnosed with the COVID-9 belonged to Karachi. The new coronavirus cases which emerged in the province on Friday were 598.“Today is another...
Yaum-e-Ali procession will be organised, insists MWM
Criticising the Sindh government for “playing politics” over the holding of mourning religious congregations by issuing a notification to ban such congregations, the Majlis-e-Wahdat Muslimeen announced on Friday that the Yaum-e-Ali procession would be organised on Ramazan 21 after...
Sindh Bar Council seeks Rs70 million for financial support for lawyers affected by lockdown
The Sindh High Court on Friday issued notices to the federal and provincial law ministries on a petition of the Sindh Bar Council seeking direction to the federal and Sindh governments for the provision of an annual grant in aid to the lawyers’ top provincial regulatory body and at least...
'Federal, Sindh govts fueling sense of deprivation among people of Karachi'
There is a growing perception among the people of Karachi that they are being intentionally deprived of their fundamental rights by both the Pakistan Tehreek-e-Insaf -led federal government and the Pakistan Peoples Party -led Sindh government.Pak Sarzameen Party Chairman Syed Mustafa Kamal said...
Revenue dept proposes monetary reward for officials helping fight COVID-19
The Sindh revenue department has written a letter to Chief Minister Sindh Syed Murad Ali Shah for sanctioning extra incentives to the officials and officers of different departments participating in the battle against COVID-19.The letter, which was sent to the CM on Friday, reads that as the...
Man killed, another wounded in Gulshan shootout
A man was killed and another wounded during a clash within the Gulshan-e-Iqbal police station’s limits on Friday.Police said the incident took place when the two men exchanged fire near Kamran Market in Gulshan-e-Iqbal Block 1. As a result, both were wounded and taken to Jinnah Postgraduate...
100kg crystal meth worth around Rs3 billion seized
The Pakistan Navy in a joint raid with the Anti-Narcotics Force seized 100 kilogrammes of crystal meth worth around Rs3 billion.A Navy spokesman said that in an intelligence-based joint operation with the ANF, they seized 100 kilogrammes of crystal myth off Pasni, Balochistan. The drug was valued...
Two injured in firing incidents
Two people were wounded in two separate firing incidents on Friday. A 40-year-old man, Feroz, son of Salman, was injured near Mauripur’s Gate No. 15. The man was taken to the Civil Hospital for medical attention.The Jackson police said that the incident took place when a traffic police cop...
SHC tells home dept to decide banned outfit activist's plea against detention in a week
The Sindh High Court has directed the home department to decide the representation of a proscribed organisation’s activist against his 90 days’ detention under the Maintenance of Public Order within a week.The activist, Abdul Hameed Bugti, had been recently released in the Pakistan...
Two Fuuast teachers included in committee for VC's appointment
The Federal Urdu University of Arts, Science, and Technology on Thursday held its 42nd senate meeting at the Governor House Sindh.The online meeting was chaired by President of Pakistan Dr Arif Alvi, who is also the varsity’s chancellor. The meeting approved the nomination of two faculty...
KMC to introduce app for field staff to mark attendance without coming to office
The Karachi Metropolitan Corporation is going to introduce a mobile application to ensure punctuality of its employees and facilitate their work.Karachi Mayor Wasim Akhtar announced this while addressing a meeting at the Frere Hall on Friday. He also announced that applications were sought for...
Psycho-social support helpline dealing with 50 cases daily, says LG secretary
The newly launched ‘1093 helpline service’ of the Sindh Local Government Department has been providing counselling service to around 50 people on a daily basis who are suffering from various psychological issues due to the ongoing coronavirus crisis in the country, said Sindh Local...
KU awards 8 PhD and 14 MPhil degrees in various disciplines
The Advanced Studies and Research Board of the University of Karachi has awarded 8 PhD and 14 MPhil degrees in various disciplines.KU Registrar Professor Dr Saleem Shahzad said on Thursday that an ASRB meeting, which was held under the chairmanship of the varsity’s vice chancellor, Professor...
Robbers among four alleged criminals arrested by SUI
The Special Investigation Unit of the Criminal Investigation Agency busted on Friday three suspected criminals running a gang. In a separate raid, they apprehended analleged robber.According to SIU police chief SSP Irfan Bahadur, three gang members were involved in various criminal cases,...
A shocking death and burial of a coronavirus patient
Rawalpindi : It was really a horrible experience to bury a confirmed patient of COVID-19, the disease caused by 2019 novel coronavirus as it was painful for the family members including sons who were unable to attend the funeral that was managed in a sense as a crime was committed, at least the...
Confusion about exams to be cleared on Monday
Islamabad: The cancellation of educational board exams over the coronavirus pandemic has caused confusion for candidates, Federal Minister of Education and Professional Training Shafqat Mahmood has promised to respond to questions early next week.In multiple tweets, the minister said Class 9 exam...
3 more die of COVID-19 in Pindi
Rawalpindi : The coronavirus illness, COVID-19 claimed three more lives here in the district in last 24 hours taking total number of deaths so far caused by the disease in the twin cities of Islamabad and Rawalpindi to 48 while 148 new patients have been tested positive in the region taking total...
Pakistan among countries with most corona cases in Asia Pacific
Islamabad : Iran, China, India, Pakistan, Indonesia and the Philippines have the most cases of COVID-19 and related deaths in the Asia Pacific region.The COVID-19 situation of Asia Pacific was highlighted in the Second COVID-19 Situation Report Asia Pacific released by United Nations Population...
President visits National Assembly to review arrangements for session
Islamabad : President Arif Alvi on Friday directed that social distancing should be maintained in the upcoming session of the National Assembly for the safety of the parliamentarians and staff against the threat of coronavirus.During a visit to the National Assembly, the president was apprised by...
Hide and seek between merchants and police comes to halt
Rawalpindi : Merchants while lauding decision of the government for relaxing coronavirus lockdown took a sigh of relief as Eid season is around the corner. For the last few weeks specifically following the advent of the holy month of Ramazan, there were reports that merchants were treating...
Cash payments to category-III beneficiaries begin
Islamabad : Ehsaas Emergency Cash payments to category-III beneficiaries which were identified through district administrations began on Friday.The Ehsaas Emergency Cash disbursements have been ongoing for the last one month and so far, Rs89.143 billion have been distributed cumulatively for...
4 suspects in honour killing case arrested
Rawalpindi : Four suspects allegedly involved in the killing of a newlywed couple, in apparently an honour killing case, were arrested here on Friday from the jurisdiction of Airport Police Station.Junaid and Sidra were murdered few days back in apparently an honour killing case after they tied...
Relaxation in lockdown hailed
Rawalpindi : Conditional relaxation in lockdown announced by the Prime Minister Imran Khan was the dire need of the hour to halt the emerging poverty and deprivation of the people, said Haji Mohammad Gulzar Awan, Advisor to the President PTI North Punjab and Chairman of Global Peace Foundation...
Impact of govt relief fails to trickle down to grassroots level
Islamabad : It has been rather unfortunate that despite a huge relief package of Rs50 billion for Utility Stores Corporation and a cut in POL products by almost 31 rupees in a month by the federal government, its impact has not trickled down to the grassroots level, as the general public is still...
RCB facilitation centre resolves 90 complaints in a week
Rawalpindi : The Public Facilitation Centre of Rawalpindi Cantonment Board , during the last seven days, received 163 complaints regarding electricity, water supply and sanitation problems in the cantonment areas and resolved 90 of them.According to RCB spokesman, Qaiser Mehmood, the RCB’s...
MoHR issues guidelines for children's health, online safety
Islamabad : The Ministry of Human Rights on Friday issued guidelines to create public awareness on the protection of mental and physical health of children and their online safety during COVID-19 lockdown days.According to guidelines issued on different media forums, parents are advised to engage...