Repeal of Urban Land Ceiling Act  Bonanza for old Mumbai firms Companies like Godrej, the Birlas and the Wadhwan group, that were apprehensive about their land holdings being taken over by the government, are sitting on virtual goldmines after the repeal of the Urban Land Ceiling and Regulation Act, reports Shiv Kumar

The Maharashtra government’s decision to repeal the Urban Land Ceiling and Regulation Act (ULCRA) in order to obtain funds under the Jawaharlal Nehru Urban Renewal Mission has spelt a bonanza for some of the oldest companies in the city. According to real estate consultancy Knight Frank India in Mumbai alone as much as 17,000 acres of prime land will be released across the city. Others estimate the amount of land to be released at 30,000 acres.

GREEN HOUSE Desert blooms Agaves are succulents that serve as an excellent choice for adding variety to your garden, says Satish Narula

There is a certain forest or desert flora that has directly entered our houses. Its potential as excellent landscape plants has been well understood and they have been used at multiple locations. For those looking for qualities like hardy nature, long life, spectacular display and excellent flowering, there is nothing that can beat agaves, the favourite desert succulents. Agaves are normally thought to last for a hundred years, give blooms and then die; the myth that has given this class of plants a name the ‘Century Plants’.

Bangalore has massive appetite for hotel rooms: Study

Demand for hotel rooms would continue to outstrip supply in 21 major cities of Asia Pacific Region, with Bangalore topping the list, followed by Delhi and Mumbai, says an industry study. As per American Express 2008 Asia Pacific Corporate Hotel Rate Projections and Market Forecast released on Tuesday, Bangalore is projected to have a 225 per cent increase in the demand for hotel rooms during 2006-08, while it was found to be 44 per cent in Delhi and 30 per cent in Mumbai.

TAX tips
Mention price of land and building in sale deed
Q. My wife was allotted a 10 marla plot by HUDA in Panchkula, Haryana, in 1978. Since then she has paid all installments, enhancements and non-construction fees till date. Recently, HUDA administrator issued a notice to construct a house on this plot failing which the plot would be resumed. Therefore, in order to avoid resumption we started construction work on the plot and it will be completed very shortly. Thereafter we will have completion certificate from HUDA, Panchkula. My questions regarding taxes are following:

News Snippets
Taj plans luxury resort in Dubai
Mumbai: Taj Hotels will open a new 180-room Taj Exotica Luxury Resort and Spa, at Ras Al Khaimah, 40 km north of Dubai, in year 2011.