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Vizag Daily News

Credai to Soon Launch Home Projects 28-Mar-2017
Visakhapatnam: Confederation of Real Estate Developers Associations of India (Credai) is to launch 200 housing projects across the country to contribute to PM Narendra Modi's target of providing houses to all by 2022, said its new chairman K Subba Raju. Addressing the media here on Monday, Subba Raju said the project will be launched by Union urban housing development minister M Venkaiah Naidu in Ahmedabad on April 8.
Visitors Strike the Best Deal 20-Mar-2017
Two-day The Hindu Auto Expo-2017 concludes. Checking out various brands and striking the best deal, scores of visitors made their way to the The Hindu Auto Expo-2017 on Sunday. The concluding day of the second edition of the exhibition held at Beach Road opposite the Viswapriya Function Hall witnessed an impressive footfall. For many, the venue turned out to be a one-stop point to book the vehicle that they have been dreaming to own for quite a while. “The latest model Innova Crysta is what I wanted to own and I am glad that I could get it for Rs. 23 lakh at the expo, said P. Raju a businessman.
Property Show Gets Under Way 04-Mar-2017
Meeting with builders will be held on NALA issue: Ganta The third Property Expo of Confederation of Real Estate Developers’ Associations of India began at Andhra University Engineering College Grounds with over 80 stalls displaying housing properties, plots and building materials. Inaugurating the show HRD Minister Ganta Srinivasa Rao assured builders that a meeting would be arranged with the Principal Secretary, Municipal Administration, to sort out long-pending issues like NALA and conditions relating to high-rise buildings and the issues would also be taken up with the Minister concerned.
U.S. Entrepreneur Bets Big On VSP 28-Jan-2017
VISAKHAPATNAM: An American entrepreneur who has made his largest investment in Visakhapatnam, sees bright potential in the city to emerge as a prominent commercial and financial hub. Pena4 Inc President and CEO Manny Pena who was here to participate in CII Partnership Summit-cum-Sunrise AP Investment Meet, told on Thursday that the city with a large talent pool and beautiful landscape has scope to grow into a world-class city. Pena4 Tech the Indian arm of Pena4 Inc has its largest facility in the city – a 100 per cent FDI with an initial investment of US$ 3 million in 2011. While Mr. Pena has 90 % stake, Ravi Eswarapu a local entrepreneur and former senior executive of Tech Mahindra has 10 % in Pena4 Tech. Pena4 Group with three companies under its umbrella, is into healthcare with focus on International Coding for Diseases (ICD)- related services, IT Product Development and back office operations for US companies in the area of client management, production management, finance, and HR operations. The company has plans to invest an additional US$ 3 million in capacity building and training in next generation technologies across the State and invest in startups as an angel investor in Internet of Things, cyber security, analytics, FinTech and artificial intelligence in next two years.
Fall in Property Registrations 17-Jan-2017
Visakhapatnam: Contrary to the popular perception that real estate dealings have hit a low after demonetisation, registration of properties has not suffered a steep fall. However compared to October December saw a considerable decline. Comparative statistics from October to December in the district show that the number of registrations resulting in sale of properties progressively fell. While 4,945 registrations were done in October, the number dropped to 3,415 in November and it was not a drastic fall going by the registration trends, according to DIG, Stamps and Registration, T. Saroja.
No Headway in Mega IT Projects 05-Jan-2017
Millennium Tower to become fully operational by December 2017. Mega projects mooted for Visakhapatnam in IT sector have not seen much progress except for the Millennium Tower which will be fully operational by December 2017. A variety of reasons are attributed for the failure to ground the projects. For instance the proposed iconic tower at Visakhapatnam Special Economic Zone, Duvvada, for which Union Minister of State for Commerce Nirmala Sitharaman laid the foundation stone two and half years ago is yet to see any civil work getting launched for want of release of funds from the Centre.
Hopes Of Pharma Sector Shattered 30-Dec-2016
Industry in deep despair as many proposals remained on the paper. When 2016 began the pharma industry in the State hoped to get an impetus in exports following promises to set up campus of Pharmaceuticals Export Promotion Council of India (Pharmexcil), National Institute of Pharmaceutical Education and Research (NIPER) and develop second pharma city. Almost a year later the industry is in deep despair as the proposals have remained on the paper. Not a single major investment has come to the region during the year. Moreover its demand for removal of Minimum Alternate Tax for units which came up in Special Economic Zone or reducing it from 20 to 7 per cent and doling out of sops for the new-born Andhra Pradesh has fallen on deaf ears. Pharma units are spread over Visakhapatnam, Srikakulam and Vizianagaram in North Andhra making the region the main hub of State’s pharma industry. Jawaharlal Nehru Pharma City (JNPC), being operated in the PPP mode at Parawada has itself has an estimated turnover of Rs. 15,000 crore.
Belt Shops Bane of Peda Jalaripeta 28-Dec-2016
Men spend major portion of income on alcohol, say fisher women. When men set out for fishing in the wee hours, women try to lend a helping hand to them by selling the fish in the market. While the Fishing Harbour remains the main marketing hub for the fisher folk residing at Peda Jalaripeta a portion of the varieties will also be sent to other markets. Peda Jalaripeta is one of the oldest fishing hamlets in the city where more than 10,000 people reside. Fishermen of the neighborhood say they are able to catch a considerable number of tunas quite often. Besides the local fish markets tunas are in great demand across Kerala and Tamil Nadu and will fetch big bucks. When we catch net tunas it literally means celebration to us says T. Parasanna, president of Grama Seva Sangham, Peda Jalaripeta.
Gangamma Jatara a Big Draw 27-Dec-2016
Villagers in large numbers throng the goddess temple and offer prayers. Thousands of villagers thronged the temple of goddess Arimanu Gangamma at Chinnampalle village of Yadamarri mandal 10 km from here and took part in the jatara. The highlight of the temple is that it is located under the giant banyan and neem trees, believed to be aged over 300 years. Along with Chinnampalle residents, the jatara also witnessed the participation of people from several villages in the surroundings, and from border hamlets in Tamil Nadu.
Cool Weather Raises Hopes 21-Dec-2016
Demonetisation, cash crunch hit the sale of woollen wear this season. VISAKHAPATNAM: Even as the temperatures in the city dipped to a record low in the past couple of days, it has been a winter of despair for the families from Tibetan settlement in Odisha’s Chandragiri who arrived in the city in October with their woollen wears. Around 11 families set up their stalls at the Police Barracks during this time of the year to sell woollen wear like sweaters, shawls, stoles, pullovers, and sporty jackets in an enticing range of colours.
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