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Godrej Group's realty arm Godrej Properties (GPL) plans to convert its Hyderabad IT SEZ project into a residential one. GPL had bought over 34 acres of land in Hyderabad in 2006 to set up a Special Economic Zone (SEZ) keeping in view the boom in the IT sector then. "SEZs are no more lucrative following the slowdown in the IT sector and due to some government regulations. We are looking at converting our Hyderabad SEZ project into a residential one, most likely catering to the mid-market segment. We will not focus on SEZs as of now," Godrej chairman Adi Godrej said.MCHI sets up Mira Rd-Virar unitMUMBAI: In order to extend its reach beyond Mumbai city, the Maharashtra Chamber of Housing Industry (MCHI), the umbrella organisation of real estate developers, recently announced setting up of MCHI Mira Road to Virar unit. MCHI nominated Rustomjee chairman and managing director Boman Irani as president. MCHI president Sunil Mantri said, "Mira Road, Vasai and Virar are the three localities which have seen fastest growth of real estate development due to good infrastructure, affordable pricing and good residential projects. In fact, these localities have contributed lion's share in the affordable housing in the entire Mumbai Metropolitan Region (MMR)."Cables offering better fire protectionMUMBAI: Uniflex Cables Ltd has introduced wires, optical fibers and speaker cables that it claims minimise smoke emissions or gas and survive the toughest fire condition. The main application of these cables is in domestic, commercial and industrial fire alarm systems, emergency lighting, emergency generator, fire pump and fire fighting equipment, elevator and some safety-critical wire circuits.Vivacity Mall to host Shopper's StopMUMBAI: Vivacity Mall, a first retail venture of Sheth Developers, has signed an agreement with K Raheja Group to set up Shoppers Stop, a family store with value merchandise, and hypermarket chain Hyper City stores in the upcoming mall at Thane on the Eastern Express highway. The two retailers have leased an area of 85,000 sq ft and 65, 000 sq ft respectively spread across the ground and first floors. Sheth Developers had already announced its tie-up with Cinepolis to set up a fourteen screen megaplex with a facility to showcase over 70 shows on a single day with a seating capacity of 2,400 people.3rd International Holcim AwardsMUMBAI: Entries are open for the $2-million competition for projects and visions in 'The 3rd International Holcim Awards' competition for sustainable building and civil engineering works; landscape, urban design and infrastructure projects; and materials, products and construction technologies. The awards are an initiative of Swiss-based Holcim Foundation for Sustainable Construction. Entries must be submitted online at www.holcimawards.org by March 23, 2011. The competition celebrates innovative, future-oriented and tangible projects and visions from around the globe and is open to anyone involved with approaches that contribute towards a more sustainable built environment.
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