Puravankara projects launch 'Purva Seasons' in Bengaluru

Conceptualization of Purvey Seasons is based on maintaining peace and tranquillity within the hustle and bustle of modern city centric life.

Puravankara Projects has launched the Rs700 crore city centre super-luxury project "Purva Seasons" in Bengaluru. This property institutes the idea of '24+ hours Lifestyle'.

The project is located in CV Raman Nagar, which is a 15 minute drive from MG Road and is a 5-minute drive from the 100 feet road, Indira Nagar. Conceptualization of Purva Seasons is based on maintaining peace and tranquillity within the hustle and bustle of modern city centric life. With the gift of time on their hands, the homebuyers can pursue their passion.

Purva Seasons with its well-planned and aesthetically designed apartments is undeniably an elite setting in the heart of the city. The project offers a state-of-the-art building with world-class specifications. Amenities include a very large one of its kind clubhouse, swimming pool, outdoor sport facilities amongst others for a modern living, in a neighbourhood that lets the homebuyer experience an enriching lifestyle.

With its inviting landscape and prime location, these 2 and 3 BHK apartments ranging from 1,392 sq. ft. to 1,980 sq. ft. are the epitome of luxury, comfort and convenience.

The project development totals a 1.08 million square feet and has 660 units.

In the early afternoon, Purvankara Projects was trading at around Rs75.20 per share on the Bombay Stock Exchange, 2.17% up from the previous close.


Economy & Nation Exclusive
Road completion target fell 83% short, yet FM increases it to 8,800km for FY12-13

Dampeners like policy paralysis, difficulty in environment clearance, and achieving financial closure had impacted execution of projects and yet the government has increased its target for road completion

Finance minister Pranab Mukherjee has said that the government will give contracts for 8,800km of national highways in FY2012-13. However, in last fiscal the National Highway Development Project (NHDP) completed just 1,250km after awarding projects for a total length of 4,374.9km worth over Rs40,890 crore. The target for FY11-12 was 7,300 km.

In short, the government fell short by 83% in its target achievement and yet the finance minister has increased the target way to high at 8,800 km for FY12-13. The target for next financial year is a jump of 604% compared with the actual projects completed in FY11-12.

Recent sentiment dampeners like policy paralysis, difficulty in environment clearance and achieving financial closure had impacted execution of projects. With the current run rate the National Highway Authority of India (NHAI) is likely to complete FY11-12 with 5.8km per day of execution compared with 4.9km per day last year.
Over the years, the government and the NHAI has been saying that the Authority would complete 20km of roads per day. To achieve 20km per day of target requires about 22,000km of work in progress, which currently stands at 13,258km. Therefore, it would be an uphill task to achieve 20km per day target.

"Considering the awarded projects, current bid stage and execution; we believe the NHAI will miss both its target of awarding and completion. Though we have witnessed very competitive bidding throughout the last year, we believe competition would ease going forward, as already developers are facing challenges regarding financial closures and our channel check suggest around 40 projects are on the block," said Infinity.com Financial Securities in a research report.



Adi Daruwalla

5 years ago

If the success rate was only 17% then thorugh a forum, the FM should be questioned on why he has increased the target to 8800km for FY12 - 13. He is the peoples representative then ask him to set up a realistic achieveable target. Past statistics show that there are problems to achieve the target. This calls for common sense, which is not so common these days.

Economy & Nation Exclusive
No Income tax for income up to Rs2 lakh: Budget Highlights 1

In the Budget for 2012-13, the finance minister has increased the tax exemption limit to Rs2 lakh and also increased limits of tax slabs

Here is what you will be paying as income tax for FY13.. For up to Rs3 lakhs - NIL; Rs4 lakhs - Rs6,180; Rs5 lakhs - Rs6,180; Rs6lakhs - Rs10,300; Rs8 lakhs - Rs10,300 Rs9 lakhs - Rs10,300; Rs10 lakhs - Rs18,540

Here are the tax savings as per new proposals: For income up to Rs3-Rs8 lakhs you would be able to save Rs2,060, for income of Rs9 lakhs you would save Rs12,360 and for income between Rs10-Rs25 lakhs you would save Rs22,660.

Income up to Rs2 lakh: NIL
Income between Rs2- Rs5 lakh: 10%
Income between Rs5-Rs10 lakh: 20%
Income above Rs10 lakh: 30%
Senior Citizen: Minimum Tax Exemption remains at Rs2,50,000
Women : Remains unchanged; i.e. at Rs1,90,000
Senior citizens to be exempt from advance tax payments
Health insurance deduction upto Rs5,000 for annual preventive health checkup
Interest income from banks tax-free upto Rs10,000
Income Tax deduction of 50% on investments of up to Rs50,000 in savings scheme named after Rajiv Gandhi Equity Scheme. This will be for retail investors. A three year lock-in period exemption under Rajiv Gandhi scheme.

Service tax rates hiked to 12% from 10%
All services to be taxed except those in negative list. Negative list to include pre-school and high school education, entertainment services.
Service tax net widened; to include most sectors
Government services, public transport, School education exempted from service tax
Securities Transaction Tax (STT) reduced to 0.10% from 0.125%.
No change in peak customs duty
Standard excise duty rate raised to 12% from 10% .




5 years ago

- STT on equity reduced to 0.1%. What about STT on redemption of Mutual Fund scheme ?

- Does this mean that a 'woman' assessee's tax free limit is below that of an 'individual' ? Does that mean now a 'woman' has lost the advantage and thus the previlege of being a woman ?

Nagesh Kini FCA

5 years ago

This is a lack lustre budget all about great reforms without any bold action plan that can boost the economy.
The new items - are non-starters -
the hike in basic exemption to Rs.2lakh is meaningless, not in keeping with the galloping inflation. It would have made sense if it was the
Rs.3l proposed by the DTC.
The so-called Rs.10,000 exemption for SB interest for Sr. Citizens with incomes upto Rs.5l should have read to cover ALL bank interest as it is interest from FD that the all elders earn substantive interest.They don't earn very little on SB Accounts. The Tedious TDS on all Bank interest earned should have been withdrawn, not even Rs.10,000.
Only new concession of Rs.5,000 deduction for expenses on preventive health is token. Mediclaim insurance doesn't allow preventive checks. Even a single check up costs that much. It ought to have covered a comprehensive check like blood, urine, ECG, hypertension, opthal., ENT all geriatric ailments.
No advance tax for Sr. Citizens with incomes upto Rs.5l again is no great shakes it ought have been Rs.10l. .

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