Construction Industry news and views

Flat buyers should pay service tax: High Court

Construction News by KR Iyer on Jan 21 2012

Property prices in Mumbai are set to go up further as Bombay High Court in an order said home buyers should pay service tax.

TN govt to construct 2,600 new flats at Foreshore Estate

Construction News by KR Iyer on Jan 20 2012

The Tamil Nadu Housing Board (THB) has floated tenders to appoint a consultant to prepare a detailed project report for redevelopment of the Estate into a residential colony.

Construction companies on recruitment drive

Construction News by KR Iyer on Jan 20 2012

Real Estate industry is on the rise hoping to take on board hundreds of technical and marketing professionals to clear their inventory and strengthen profit curve.

CIDC trains over 200 NE youths for construction trade

Construction News by KR Iyer on Jan 19 2012

The Construction Industry Development Council (CIDC) has so far trained 252 youths while 101 are undergoing training and counselling under the Capacity Building and Technical Assistance (CBTA) scheme.

Construction Equipment Market to Grow by 20%

Construction News by KR Iyer on Jan 19 2012

The Indian construction equipment market is expected to witness a Compound Annual Growth Rate (CAGR) of 20% year-on-year during 2011-2015.

Plans afoot to convert Omandurar complex to hospital

Construction News by KR Iyer on Jan 19 2012

The buildings wing of the Public Works Department in Chennai has floated tenders and the total estimated cost of the proposed civil and electrical works has been fixed around Rs. 26.9 crore.

Schwing Stetter looks to expand base in Chhattisgarh

Construction News by KR Iyer on Jan 19 2012

With the commencement of upgraded branch, Schwing Stetter aims to target the booming construction market and active customer base in Raipur.

Cement prices set to go up: Crisil

Construction News by KR Iyer on Jan 18 2012

Cement prices in India set to go up by as much as Rs 9 per 50-kg bag this month as the new coal pricing mechanism adopted by Coal India Limited (CIL) has increased the production cost for makers of the building material.

Fitch predicts negative growth for Indian realty market in 2012

Construction News by KR Iyer on Jan 18 2012

Fitch, an international rating agency, has projected a ‘negative outlook’ for the Indian real estate sector in 2012 due to weak overall demand and higher construction costs, which are likely to continue to squeeze margins in 2012

Realty India 2012 in Kuwait to showcase prime properties for NRIs

Construction News by KR Iyer on Jan 18 2012

Boasted to be the biggest real estate exhibition in Kuwait, Realty India 2012 will be inaugurated by the Indian Ambassador to Kuwait, Satish C Mehta at the Ramada Kuwait Hotel in Al-Riggae.

Construction industry needs 12 million skilled workers: CREDAI

Construction News by KR Iyer on Jan 18 2012

Getting a skilled labour is an uphill task in construction industry. To overcome this issue, National Skill Development Corporation (NSDC) along with CREDAI Pune Metro has initiated a unique program called Kushal. The main objective of “Kushal” is to impart practical skills to un-skilled & semi-skilled laborers.

India's hydraulic components market to reach Rs 50 billion mark by 2017: F&S

Construction News by KR Iyer on Jan 17 2012

Frost & Sullivan predicts two fold sales growth construction equipment industry by 2015 and in particular, the hydraulic components market to reach Rs 50 billion mark by 2017.

Akshaya launches Metropolis Phase II project near Mahindra World City Chennai

Construction News by Jayashankar Menon on Jan 17 2012

Introducing another trend in the Chennai realty sector Akshaya Pvt Ltd, recently launched ready to move in and live homes in the METROPOLIS Phase II project, located near Mahindra World City on the GST road.

Voltas bags MEP Middle East Award

Construction News by KR Iyer on Jan 17 2012

Voltas, one of the world's premier engineering solutions providers and project specialist, has won the most prestigious 'MEP Contractor of the Year' honour at the recently held MEP Middle East Awards in Dubai.

IL&FS invests Rs 200 crore in Indiabulls’ realty project in Mumbai

Construction News by KR Iyer on Jan 17 2012

IL&FS Private Equity has bought 9.36 per cent stake in Indiabulls Infraestate Ltd, a wholly owned special purpose vehicle (SPV) floated by Indiabulls Real Estate Ltd, to develop a realty project on a parcel of land in Mumbai for Rs 200 crore.