JNPT asked to wind up new office at World Trade Centre
Jun 27, 2013
Source : The Hindu Business Line

MUMBAI: The Government has asked Jawaharlal Nehru Port Trust, which manages India’s biggest container port, to wind up its new posh city office .

The 7,000-sq feet office on the top floor (31st) of the World Trade Centre at Cuffe Parade in South Mumbai was opened in May last year, to facilitate the port’s expansion plans.

This is the port’s second city office. JNPT has another office in Nariman Point, from where it has been operating for more than two decades.

The Shipping Ministry has now directed JNPT that all its senior officers should operate only from the port premises at Nhava Sheva Island.

Currently the Chairman, Deputy Chairman and other senior officials operate from the city office two days a week.

A Ministry official said the decision to close the city office was taken to avoid the “inconvenience in carrying the files” between the two offices. By ferry-boat, it takes one hour to reach the port from the city office.

A port official said the decision follows the Ministry’s view that senior officials should be working from the port premises and not from the marketing offices. Other Major Ports would also be directed to wind up their marketing offices, he said.

The monthly rent for the new office is said to be around Rs 14 lakh. “The cost is not the issue, it is a policy decision,” said the port official.

Port users, however, believe that the decision to shut the office is part of a move to reverse some of the decisions taken by the former port Chairman, L. Radhakrishnan, who left the port in April, before completing his term, to take charge as Home Secretary in Kerala.

New projects

It was when Radhakrishnan was Chairman, JNPT took the decision to have a second office in the city. The port was planning new projects, including the mega fourth container terminal. He wanted a large office to manage the new projects. However, disputes and litigations delayed most of the projects. The bid for the fourth container terminal had to be terminated as the winner –PSA international of Singapore refused to sign the concession agreement.

The port trust has now called fresh bids for the fourth terminal.

The government-owed JN Port, and its two private terminals together handled 4. 26 million containers (TEUs) last fiscal, nearly 50 per cent of the country’s containerised cargo.

Latest Realty News

Reliance building on real estate interests in Kenya
Jun 27, 2013
MUMBAI: Reliance Industries is expanding its presence in the real estate sector in Africa.In its second major foray, the Mukesh Ambani-owned Reliance Industries has acquired 10 prime plots of land in Kenya’s capital, Nairobi, for around Rs 202 crore ($33.9 million).
Two-Day Road Show of DAMAC Properties in Delhi and Mumbai
Jun 27, 2013
MUMBAI: DAMAC Properties, the largest private developer of luxury real estate in the Middle East, is beginning a two-day road show in Delhi and Mumbai to showcase the latest luxury living in Dubai.
Easier ECB norms to create more affordable housing: Crisil
Jun 27, 2013
MUMBAI: The easing of fund-raising norms through the external commercial borrowing (ECB) route will lead to developers focusing on low-cost housing projects, says rating agency Crisil.
Exit low building clusters, enter skyscrapers at Girgaum and Parel
Jun 26, 2013
MUMBAI: The skyline is set for a drastic change with the high-power committee for cluster redevelopment giving the go-ahead to two projects at Girgaum and Parel each. All low-rises here would be mowed down to make way for skyscrapers.
‘Housing Regulator Bill ignores ground realities’
Jun 26, 2013
MUMBAI: Even though the Real Estate (Regulation and Development) Bill is expected to bring in transparency, it also brings with it challenges like timely project clearance which need to be addressed first, consultancy firm Jone Lang LaSalle has said.
PMC will start collecting 2 per cent fine on property tax dues
Jun 26, 2013
PUNE: The Pune Municipal Corporation (PMC) will start collecting 2 per cent fine on property tax dues from July 1.
Housing Regulator Bill ignores ground realities: Jone Lang LaSalle
Jun 26, 2013
MUMBAI: Even though the Real Estate (Regulation and Development) Bill is expected to bring in transparency, it also brings with it challenges like timely project clearance which need to be addressed first, consultancy firm Jone Land LaSalle has said.
CII: Emerging investment hotspots
Jun 25, 2013
DELHI: India has its own unique and integral complexities and business is not an exception to it. Corporations strive for increased efficiency and productivity amidst these complexities. Real estate is an integral ingredient in the formation and growth of all businesses and steadily maturing into a big business itself.
Buying a property just got a bit more cumbersome
Jun 25, 2013
MUMBAI: A common saying goes, to know "stress", organize a person's marriage or endeavor to build a house. Consider the various factors which affect the decision on the purchase or building of a house, they range from vastu, legal documentation, anticipated appreciation in value and maybe even the whims and fancies of the relatives. Clearly, factors which may cost a common man, seeking to obtain a roof over his head, many a nights sleep. Well, thanks to the Finance Act, 2013, the stress has been
Thane, Navi Mumbai among realty hotspots: Report
Jun 25, 2013
MUMBAI: Thane and Navi Mumbai have been listed as “emerging investment hotspots” among eight locations across seven top Indian cities, according to a report released on June 21 by the Confederation of Indian Industry and Jones Lang LaSalle India.

Latest Realty News Of State

Realty Talk's