The recent increase in the prices of CNG has prompted auto and taxi drivers to demand hike in fares. Over 80,000 taxis and a lakh auto-rickshaws in Mumbai on Tuesday went off the roads after a strike by drivers demanding hike in fares. The taxi union is asking for a hike in the minimum fare of black and yellow taxis from Rs 14 to Rs 16. Auto unions are demanding that the minimum fare for rickshaws be increased by Rs 6 to Rs 15 and Rs 8 for every subsequent kilometer. Rickshaws currently charge Rs 9 as minimum fare.
The Delhi Government on Tuesday hiked auto fares in the Capital. The announcement for increase in fares was made by Transport Minister Arvinder Singh Lovely at a press conference. Chief Minister Sheila Dikshit had justified the decision, saying rise in prices of natural gas has left the government with no option but to heed to the demand of the auto unions for increase in fare. Lovely said apart from hike in CNG prices, the annual maintenance cost of autos has gone gone up by 70 per cent in last four years while the CNG prices have gone by 66 per cent during this period.
The minimum fare for auto-rickshaws will be increased from current Rs 10 for the first one km to Rs 19 for the first two km. Subsequently, the charge per km after the first two km will be Rs 6.50. Currently Rs 4.50 is taken per km after the first one km.
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On the back of a revival in demand, real estate developers are again building super luxury apartments, say experts. About 7,000 such apartments to be delivered within a year in Mumbai alone by consultancy firms Jones Lang Lasalle Meghraj (JLLM) and Knight Frank India.The cost is not below Rs 4.7 crore for a single unit. Anand Narayanan, Knight Frank India’s national director (residential agency) said in the central business district of Bangalore,400 high-end luxury apartments are going to hit the market in the current year itself.
LLM country head and chairman Anuj Puri said “After the recession got over, real estate developers are back building high-end super luxury projects because there is good demand for such projects.” Similar high-end projects are coming up in the National Capital Region as well, but demand for such projects depend on many things, including the location of the property and its novelty.The higher cost of such products is justified because not a single one has a common design and lay-outs are also never identical, the consultants said.
Stating that there is ‘enough demand’ for such projects, both consultancy firms said that consumers are treating such projects as a consumer product for which they are ready to pay a premium.
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Tagged Bangalore, building high-end housing, Delhi NCR, developers are back building high-end housing, high-end projects, Jones Lang LaSalle Meghraj, Knight Frank, Mumbai, real estate, Real estate in India, real estate news, super luxury apartments