Govt to complete 3G auction by March end: Raja

Differences with the finance ministry over payment schedule and the defence ministry over spectrum release have delayed the auction process for 3G

The Indian government on Tuesday said that radio wave auctions for third generation mobile phone services, or 3G, will be completed by end of March, reports PTI.

"The government is very keen to complete the 3G auction process well within the financial year that ends on March 2010," telecom and IT minister A Raja told reporters on the sidelines of an event.

He said that the notice inviting applications for the 3G auction is likely to come out this week.
Auction for four slots of spectrum was to take place on 14th January but differences with the finance ministry over payment schedule and the defence ministry over spectrum release have delayed the process.

The finance ministry is expecting Rs35,000 crore (Rs350 billion) from the 3G spectrum auction and the proceeds will be used to bridge the fiscal deficit.


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L&T may buy medical firm Healthquarters

L&T is planning to take over Healthquarters, in line with the company’s plans to enter the general insurance business, said sources close to the developments

Engineering giant Larsen & Toubro Ltd (L&T) is likely to take over Healthquarters India Pvt Ltd from Paramount Health group, said sources close to the developments.

This could be L&T’s first step towards entering the general insurance business, the sources said, adding that the deal has been almost finalised and a formal declaration from both the companies is awaited.

L&T officials, however, declined to comment on the developments. In a mail to Moneylife, a spokesperson of the company said,”L&T does not comment on any market speculation.”

Earlier in August 2009, a section of the media had reported on L&T’s plans to enter the general insurance business. “We plan to enter the general insurance business and the company will be promoted by L&T,” said YM Deosthalee, chief financial officer, L&T, in a report published by the Indian Express.

Mumbai-based Healthquarters India is a wellness and medical management organisation that helps end-users to achieve a healthier life and facilitates in minimising expenses and difficulties arising due to illness and hospitalisation.

The ‘Permanent Health Record’ services provided by Healthquarters enables an individual to access his or her own health records from anywhere in the world.


Developers drop prices by Rs9 lakh in Hyderabad

With falling prices and depressed demand for residential properties, many developers are offering huge discounts for ready possession properties in and around Hyderabad

Real-estate prices are currently very attractive in Hyderabad. Developers in this city are finding it difficult to sell their ready possession properties due to fall in demand. To overcome the lower demand and falling prices, some developers are offering huge discounts of up to Rs8 lakh-Rs9 lakh.

“A flat costing about Rs35 lakh earlier is now being offered for as low as Rs26 lakh. Realty sales in Hyderabad are falling every quarter. The September quarter witnessed lower sales compared to the June quarter,” said Pankaj Kapoor, founder and managing director, Liases Foras Real Estate Rating and Research.

During the quarter to end-September, total sales of two bedroom, hall and kitchen (BHK) properties at Hyderabad fell sharply. Places like Secunderabad, Nizampet and Manikonda are hot locations for residential properties and developers from these locations are offering discounts of up to Rs8 lakh-Rs9 lakh.

Hyderabad-based Aparna Constructions and Estates Pvt Ltd is offering a 2BHK apartment of 935 sq ft at just Rs963 per sq ft at Kompally in Secunderabad, till March 2010, against the usual rate of Rs2,100 per sq ft.

Hyderabad has a supply of 60 million sq ft of residential projects, out of which 15%-18% are completed constructions.


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