Nine more cities to have bus rapid transit systemSeptember 25th, 2009 NEW DELHI - The government will build bus rapid transit (BRT) systems in nine more cities at an investment of Rs.4,500 crore, Urban Development Minister Jaipal Reddy said here Friday. "We are going to implement BRT in nine more cities with an estimated cost of Rs.4,500 crore under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) project," Reddy said while speaking at a programme here.
Jaipal Reddy claims land values have not been affected by recessionSeptember 17th, 2009 NEW DELHI - Urban Development Minister S Jaipal Reddy has said that land values have remained unaffected by the global recession and the urban land is still a source of financing. Talking to reporters here, Reddy said, "I found that in the year 2004, there was a certain value for one acre of land and in 2006-07, that value went up by 25-30 times."
"If that area had been recession hit, the value of land there wouldn't shoot up," he added.
Govt. to pay for 20 per cent cost of mega development projects under PPP modelAugust 19th, 2009 NEW DELHI - Union Urban Development Minister S. Jaipal Reddy on Wednesday said the government is ready to offer 20 percent of the cost of mega development projects if taken up as a public-private partnership (PPP).
Delhi Metro cracks down on design consultants, officialsJuly 28th, 2009 NEW DELHI - With the Delhi Metro probe panel finding serious fault with the design and material that led to a major accident at a construction site July 12, the Delhi Metro Rail Corporation (DMRC) has decided to blacklist its design consultants and crack down on some senior officials, Urban Development Minister S. Jaipal Reddy informed the Lok Sabha Tuesday.
Metro accident not due to Commonwealth Games deadline: ReddyJuly 13th, 2009 NEW DELHI - The accident at the metro construction site in south Delhi Sunday, in which six people were killed, did not take place because of any hurry to meet the Commonwealth Games deadline next year, Urban Development Minister S. Jaipal Reddy told parliament Monday.
Delhi Metro wasn't operating under any pressure, says Jaipal ReddyJuly 13th, 2009 NEW DELHI - Union Minister for Urban Development Jaipal Reddy on Monday refuted accusations that the metro rail mishap was a result of the Delhi Metro Rail Corporation (DMRC) pushing to complete the rail project ahead of the Commonwealth Games 2010 deadline. Speaking in Parliament, Reddy said the Delhi Metro wasn't operating under any pressure to meet the deadline.
Decision on Sreedharan's resignation Monday, says ReddyJuly 12th, 2009 NEW DELHI - The central and Delhi governments are likely to decide on Delhi Metro Rail Corporation (DMRC) managing director E. Sreedharan's resignation Monday, Urban Development Minister S.
DDA to construct 65,000 houses in four yearsJune 29th, 2009 NEW DELHI - In a bid to address the acute housing shortage in the national capital, its development authority will build 65,000 houses in the next four years, Urban Development Minister Jaipal Reddy announced here Monday. "Of these 65,000 houses, 40,000 will be for the urban poor and low income group, and 10,000 will be for the middle income group," Reddy told reporters while releasing the 100-day agenda of his ministry.
Jaipal Reddy seeks zero excise duty on public busesJune 29th, 2009 NEW DELHI - Urban Development Minister Jaipal Reddy Monday asked the finance ministry to remove excise tax on public buses and said the government will introduce 15,220 new buses in 61 cities this year. "Road transport is very important and in the last budget we proposed to cut the excise duty from 16 percent to 8 percent.
28 more cities to be brought under urban development schemeJune 29th, 2009 NEW DELHI - The urban development ministry has sought an extra Rs.50,000 crore to include 28 more cities under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), a central government initiative to promote planned development of cities. "The government has committed to raise Rs.100,000 crore of investment for the urban sector under the JNNURM.
State home loan lender reduces ratesJune 22nd, 2009 NEW DELHI - State-owned home loan lender Housing and Urban Development Corp (HUDCO) has lowered interest rates by up to 125 basis points. The new rates, which will come into force Tuesday, will bring down rates from 9.5 percent to 8.5 percent for home loans taken by widows and people from the Scheduled Castes (SC) and the Scheduled Tribes (ST) categories, a government statement said.
Commonwealth Games needs more funds: Jaipal ReddyJune 17th, 2009 NEW DELHI - Union Finance Minister Pranab Mukherjee received varied proposals from allied ministries vis-à-vis allocations in the Union Budget that he has planned to present. Among those who submitted the respective ministry's suggestions was Minister of Urban Development, S Jaipal Reddy who called on the Finance Minister here on Tuesday.
PNB reduces lending rate by 50 basis pointsApril 30th, 2009 NEW DELHI - The Punjab National Bank on Thursday reduced its benchmark lending rate by 50 basis points to 11 percent. The Benchmark Prime Lending Rate (BPLR) has been slashed from 11.5 per cent to 11 per cent effective tomorrow, the bank said in a statement.
Urban ministry seeks changes in second stimulus packageJanuary 1st, 2009 NEW DELHI - The urban development ministry has asked for additional changes at the last minute to the second stimulus package, slated to be announced Friday, to make the package beneficial for the end-user. Last month, Commerce Minister Kamal Nath announced that the second stimulus package would attempt to include special provisions to help exporters and the real estate and infrastructure sectors.
ICICI Bank, LIC Housing cut home loan ratesDecember 30th, 2008 MUMBAI - Two more lending institutions - ICICI Bank and LIC Housing - Wednesday cut their interest rates on home loans by up to 75 basis points (bps). While LIC Housing Finance cut rates for existing home loan borrowers by 75 bps effective Thursday, ICICI cut rates by 50 bps with immediate effect.
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