HIMUDA's housing project fails to take off

29 Nov 2012 CW Staff

Media reports suggest that the mass housing projects in Solan and Sirmaur districts of Himachal Pradesh failed to take off.

It is learnt that Himachal Pradesh Housing & Urban Development Authority (HIMUDA), which is responsible for the project, has not done much besides buying some land in both the districts in the last two years.

HIMUDA is said to have collected over Rs 35 cr from around 70,000 applicants who participated in a housing survey two years ago for the project.

Reports indicate that about 700 people who had approached HIMUDA over the last two months demanding their money back because of the developer failing to materialize the project, were returned their deposit but not before deducting Rs 500 as administrative and service charges.

The deduction of these charges irked applicants who instead demanded interest on money deposited for two years. However, officials justified the move, claiming that it was part of the terms and conditions.

HIMUDA officials said that applicants who on their own choosing withdraw money deposited with the demand survey application carried out between December 2010 to March 2011 are liable to be charged administrative and service charges.

Set up by an act of legislation in 1972, till date the authority has only constructed 11,859 houses and developed 3,441 plots.

Infrastructure Urban

16 May 2025

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Infrastructure Urban

16 May 2025

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Infrastructure Urban

16 May 2025

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..