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Indian Institute of Tourism and Travel Management (IITTM) opens in Nellore

| News | January 18, 2011

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The Indian Institute of Tourism and Travel Management (IITTM) is all set to open its first institute in south India at Nellore from July this year. The AP Tourism Development Corporation (APTDC) has been entrusted with construction work of buildings for the proposed institute close to the national highway near Venkatachalam, 16 kms from Nellore.

The Centre has sanctioned Rs 16.93 crore for construction. The IITTM, an autonomous organisation of the ministry of tourism, Government of India is one of the premier institutes offering education, training, research and consultancy in tourism, travel and allied sectors since 1983.

The proposed institute in Nellore will offer a two year course with a unique blend of tourism and cargo specialisation as part of its postgraduate diploma in management. The idea behind the course is to tap growing opportunities in the areas of tourism operations, tourism marketing, air and shipping cargo management in the region.

The director of the IITTM, Ms Manjula Chowdhary, revealed this while interacting with media persons after taking part in a workshop on ‘Tourism Opportunities and Challenges’ at Geetanjali College, Muttukur road here on Thursday.

According to Ms Chowdhary, graduates in any stream are eligible to join the course and the last date for receiving applications is February 1. The entrance test will be conducted on February 27. Those qualified in CAT and MAT entrance tests can apply directly for enrolment and do not have to take the entrance test. The cost for the two years course is Rs 2 lakh and it can be paid in two instalments.

The IITTM has been providing Rs 2 crore towards development of infrastructure for colleges and polytechnics in government sector if they introduce a degree course in tourism management. Ms Chowdhary said that placement is assured for their students, pointing to opportunities across the globe in the tourism industry.

Earlier, the vice-chancellor of Vikrama Simhapuri University, Prof C.R. Visweswar Rao, dwelt at length on the historical importance of Nellore. The general manager of the HR wing of Krishnapatnam Port, Mr Satya Prakash, also spoke apart from professors of IITTM, Sandeep Kulashreshta and Nimit Chowdhary.

The nodal officer of the Nellore institute,

CM seeks more gas for IFFCO plant in Nellore

| News | November 23, 2010

IFFCO Plant needs more gasChief minister K Rosaiah on Thursday made a plea to Prime Minister Manmohan Singh to help the state in getting an allocation of 3 million standard cubic feet per day (MMSCMD) of gas in the first phase, and another 3 MMSCMD of gas in the second phase for the Indian Farmers fertilizer cooperative (IFFCO) plant coming up near Krishnapatnam Port in Nellore district.

In a letter to prime minister, Rosaiah said that the IFFCO had come forward to invest Rs 10,000 crore and build a 2.6-million tonne capacity urea plant in the state. IFFCO is the world’s largest fertilizer cooperative with a domestic production capacity of 42.5 lakh MTPA.

Rosaiah said about 2,700 acres of land near Krishnapatnam port has been acquired to set up ammonia-urea plant in 1997 but the manufacturing facility could not materialise so far due to shortage in supply of natural gas. Once the gas is allocated, IFFCO would invest Rs 10,000 crore and the plant would be ready by 2013-14, he said. This plant will benefit the farmers of Andhra Pradesh, Tamil Nadu and Karnataka in meeting the high demand of ammonia-urea.

The chief minister further said that a major pipeline from KG Basin would be passing along NH-5, close to the IFFCO’s existing Nellore site. The pipeline being laid by Reliance Industries Ltd is scheduled to be completed by 2012.

CM wants incentives to SEZ to continue

| News | November 23, 2010

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Chief minister K Rosaiah has urged Prime Minister Manmohan Singh to continue all the fiscal incentives originally envisaged for the special economic zones (SEZs) and the units therein even after introduction of the Direct Tax Code (DTC).

“I earnestly request that in the larger interest of industrial development in the country, that the central government may kindly continue all the fiscal incentives originally envisaged for the SEZs,” Rosaiah stated in his speech pointing out there were apprehensions that the incentives would be discontinued with the introduction of DTC.

In this context, he also said that the state was promoting a number of SEZs for creation of employment opportunities to youngsters.

The written speech of the chief minister was read out by state major industries minister, K Lakshminarayana, at the foundation stone laying ceremony of the NTPC-BHEL power equipment manufacturing project at Mannavaram in Chittoor district on Wednesday. Rosaiah could not attend the function due to ill health.

According to Rosaiah, the Nellore-Chittoor region is going to be a major hub for investments. It is ideally positioned with close connectivity to three international airports (Bangalore, Chennai and upcoming Tirupati) and three important seaports (Krishnapatnam, Chennai and Ennore) besides being close to the Golden Quadrilateral Expressway.

He said a large number of mega power projects were coming up in the area, which had been identified as the Manufacturing Investment Region according to the policy of the Union government.

Stating that AP was well positioned to emerge as the manufacturing hub in the country, Rosaiah informed the Prime Minister that a Global Investors Meet was scheduled to be held in the state capital in February 2011 in association with the Confederation of Indian Industry to attract large-scale investments from across the globe.

India will face shortage of over 26 million houses by 2012

| News | November 23, 2010

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NEW DELHI: India will face shortage of over 26 million houses by 2012, which would lead to spurt in housing prices as demand-supply gap widens amid rising purchasing power of the middle class people, a consultancy firm has said.

“With India back on a high growth trajectory, demand for commercial and residential space is likely to witness an upward trend,” consultancy firm Ernst and Young said in a report.

Demand for residential property is rising sharply because of growing young working population, increasing urbanization, declining household size resulting in more nuclear families with growing household income and improved availability of loans.

Co-chairman of FICCI Real Estate Committee Pranay Vakil said over $1.2 trillion investment was needed to meet the rising demand for urban development.

He said that the urban population in India would nearly double to 600 million in the next 15 years from nearly 350 million now, and this would put massive pressure on urban infrastructure, including roads, power and water supply.

Dean Hodcroft, partner-head of real estate for Europe, Middle East, India and Africa at Ernst and Young, said India needed institutional reforms to attract more investments in infrastructure development projects.

He said the country’s macro-economic fundamentals were in great shape and it was poised to reap huge benefits of growth. “India needs to fix the institutions to attract more private investments, including foreign investments,” he said.

Comparing the investment climates in India and China, Hodcroft said: “While it is easy for investors to get into China, it is extremely difficult to get out. In contrast, it took time for foreign companies to enter India, but exiting is comparatively much easier.”

He noted that India was lower ranked in areas that were easy to fix.

Nellore city is expected to become major Industrial Hub – steadily growing

| News | November 23, 2010

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The real estate sector in in India is one of the most important element in attribution of country growth. India’s property market has been in a downturn. After nearly four years of a real estate boom, prices have dropped 20-40% since their peak, property sales have fallen over 50% year-on-year (y-o-y), and developers are burdened with many unsold and unfinished projects. As we are coming close to year 2010, house prices have softened, and will likely stay this way – at least until there is an economic turnaround, not expected before 2010.

On the other hand, Technical Group did a study recently on Estimation of Housing Shortage, an estimated shortage of 26.53 million houses during the Eleventh Five Year Plan (2007-12) provides a big investment opportunity. The study is based on the opinions of over 270 international real estate professionals, including investors, developers, property company representatives, lenders, brokers and consultants.

In another article by Financial times USA, it is expected that by 2020, the average age of Indian in the country will be 29. This means more young people working in cities and urban areas thus creating more demand for houses/apartments.

While this is what we see at a country level, the market in nellore has become stable and improving. In some areas the prices have gone up. there has been a huge demand for apartments all over the city. This demand is coming from the industrial developments that are taking place.

A recent study (Sep 2010) conducted by TV9 supports the growth in nellore city.

On another note, TV5 conducted a summit in May 2010 with prominent leaders in the real estate market also supports the growth.