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Hindustan Times
28 minutes ago
- Hindustan Times
Landmark Group to invest ₹400 crore in low-density luxury project on Gurugram's Dwarka Expressway
Gurugram-based Landmark Group will invest nearly ₹400 crore in its low-density luxury housing project 'Landmark SKYVUE' at Sector 103 on Dwarka Expressway, the company said on August 20. Landmark's Group chairman Sandeep Chillar (second from left) said that the new project, located in Gurugram's Dwarka Expressway, is spread across 4 acres and will feature just 240 apartments. Spread across 4 acres, the project will feature just 240 apartments and has a revenue potential of around ₹1,200 crore. Scheduled for delivery in four years, SKYVUE has been launched at ₹17,500 per sq ft, with apartments priced between ₹4.99 crore and ₹6.78 crore, the company said. 'We will invest ₹400 crore in the construction of our new project 'Landmark SKYVUE',' Landmark Group chairman Sandeep Chillar told reporters. 'It is a low-density development with 60 apartments per acre compared to the conventional 90–100.' He said the company has owned the land parcel since 2009 and has already cleared all approval charges with the government. He said the demand in the Gurugram market remains strong, driven by new infrastructure developments, including the opening of the Dwarka Expressway. The project forms part of an 11-acre land parcel, with Phase I delivered in 2013 and Phase III planned for FY2026. Phase II, spread across 4 acres, will offer 240 three-side-open residences in 3BHK + utility and 4.5BHK + utility formats. The towers will rise 40 floors above a three-level podium that will house retail, a 1-lakh sq ft club, and wellness facilities. The project will also feature a rooftop observatory. Also Read: Gurugram's affordable housing projects face residents' ire as missing 24-metre road becomes symbol of deeper crisis 'Our aim is to craft a community that combines design but doesn't compromise on comfort. We aim to put special emphasis on the modern-day needs of Indian families, including digitally forward amenity zones, skypad pickleball court, Japanese restaurant 'Sora', and a wellness-oriented club called 'Skydome' offering a meditation zone, plunge pool, and USFDA, CE, and ISO approved cryotherapy,' he said. Chillar said the company would fund the construction cost with the help of internal accruals, bank loans and advances from customers against sales. Also Read: Is Gurugram's luxury real estate boom sustainable? Experts weigh in on price and demand trends The company has so far delivered 15 housing and five commercial projects, mostly in Delhi-NCR. It has other projects in its pipeline for FY2025-26, including the largest single tower commercial project measuring 2.2 million sq. ft. on Golf Course Extension Road, a high street retail project, and a large mixed-use project, both situated on Dwarka Expressway.
Economic Times
29 minutes ago
- Economic Times
ETtech Explainer: What's the way forward for gaming industry after Lok Sabha clears Online Gaming Bill?
ETtech The Lok Sabha on Wednesday passed the Promotion and Regulation of Online Gaming Bill, 2025, seeking a blanket ban on real money gaming in India, minutes after it was introduced in the House. The government says this move addresses the risks of fraud, money laundering, and terror financing and encourages the growth of e-sports and skill-based online games in the country. However, industry stakeholders warn that the outright prohibition could backfire – pushing users to illegal offshore gambling and unregulated platforms. ETtech explains the details of the bill and what happens next. First, what are online money games? According to the bill, online money games are those played by the user by 'paying fees, depositing money, or other stakes, in expectation of winning in return for money or other stake, irrespective of whether such game is based on skill, chance, or both.' These include popular games such as Poker, RummyCircle, Junglee Rummy, WinZO Ludo, BigCash, Zupee, and Money Clicker, where players put in money with the expectation of cash rewards. In contrast, skill-based games such as chess, card games played without stakes, arcade games, puzzles, and even poker in a non-monetary context are seen as tests of ability and strategy rather than betting and continue to be encouraged under the bill. Meanwhile, it excludes e-sports and online social games in both casual entertainment and skill-based formats, which do not involve any monetary stakes. What does the bill say? According to the draft bill, which was cleared in the Lok Sabha today, there will be a complete ban on online money games falling under its definition. As a result: Anyone offering these services will face imprisonment of up to three years or a fine of up to Rs 1 crore, or both. Anyone advertising such services could face up to two years of jail and/or a fine of up to Rs 50 lakh. Banks and financial institutions facilitating transactions for such games will also face penalties, including up to three years in jail or a fine of Rs 1 crore. What happens to the companies? The representatives of the Rs 27,438 crore online money gaming sector fear the prospect of being shut down. Companies such as Dream11, MPL, Games24x7, Winzo, Zupee, and publicly listed Nazara Technologies, which has stakes in Classic Rummy and PokerBaazi, could be among those hit by the legal experts noted that there will be no immediate effect. 'There will be no immediate effect, as the bill has only just been passed in the Lok Sabha. It will next move to the Rajya Sabha for discussion and then to the President for assent, so it will take some time before it becomes an Act,' Apeksha Singh, a commercial lawyer at the Bombay High Court, told ET. Also Read: Gaming bodies write to Amit Shah; urge to block blanket ban, warn of Rs 20,000 crore tax loss What about the online money gaming ecosystem?The online gaming sector currently employs more than 200,000 professionals across over 400 startups and has drawn Rs 25,000 crore in foreign direct investment (FDI).Industry leaders warn that this bill will choke foreign investment and cost the exchequer an estimated Rs 20,000 crore in lost taxes. An allied ecosystem that spends nearly Rs 6,000 crore annually on advertising, technology, and infrastructure could also take a to the bill getting passed in Lok Sabha, the All India Gaming Federation (AIGF), the E-Gaming Federation (EGF), and the Federation of Indian Fantasy Sports (FIFS) wrote a joint letter to home minister Amit Shah, saying the draft bill, which seeks to prohibit all real money games, including those based on skill, would 'strike a death knell' for the entire industry. So, why is the government pushing for this bill? After the bill was passed in the Lok Sabha, IT minister Ashwini Vaishnaw said that online money gaming has become a bigger issue than drugs in the country, and many youngsters have died by suicide after losing their savings in such an interview with ET Now, Vaishnaw said that there are three segments to the bill — e-sports, online social gaming, and online money gaming. 'This bill aims to promote the first two segments, wherein an authority will be created. There will be more schemes, employment, and the creator economy grows,' he said, adding that the bill will protect from the harm that the third segment – online money gaming – causes. What are the stakeholders saying? According to the stakeholders, the outright prohibition could backfire, pushing users to illegal offshore gambling and unregulated platforms.'A restriction will push millions of Indian users toward offshore betting websites, matka operators, and unregulated platforms, exposing them to fraud, addiction risks, and zero consumer protection,' said Rameesh Kailasam, president and CEO of an industry group representing internet startups. 'The bill seems aimed at offshore gambling and betting apps but ends up targeting law-abiding, tax-paying Indian startups.''While the government is pursuing a comprehensive ban on online gaming, its enforcement poses significant challenges,' said Rishi Agrawal, chief executive and cofounder of Teamlease Regtech, a regulatory compliance management company. 'The internet's global accessibility makes it likely that new gaming platforms will emerge worldwide, targeting vulnerable Indian youth and heightening risks such as cyberbullying, identity theft, phishing, and other scams.'Further, industry representatives are urging the government to pursue 'smart regulation' that distinguishes games of skill from games of chance, ensures user safety and responsible gaming, enforces grievance redressal, and clarifies taxation policies. Also Read: Online gaming companies prepare for legal battle against new bill Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Swiggy, Tencent backer Prosus gets Rajinikanth fan to script India AI play India's F&O boom puts spotlight on retail protection through education Can new shipping laws bury the ghost of British legacy? As big fat Indian wedding slims to budget, Manyavar loses lustre Stock Radar: Bajaj Auto showing signs of reversal after falling over 30% from highs; medium term should 'buy the dip' F&O Radar | Deploy Bull Call Ladder in JSW Steel stock to benefit from bullish outlook Time for risk-takers to come out of hibernation? 5 mid-cap stocks from different sectors with an upside potential of up to 27% Buy, Sell or Hold: Motilal Oswal initiates coverage on JSW Cement; Emkay Global sees over 30% upside in Gravita India
Time of India
29 minutes ago
- Time of India
Trump thinks owning piece of Intel would be good deal for US: Here's what to know
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads President Donald Trump wants the US government to own a piece of Intel , less than two weeks after demanding the Silicon Valley pioneer dump the CEO that was hired to turn around the slumping the goal is realised, the investment would deepen the Trump administration's involvement in the computer industry as the president ramps up the pressure for more US companies to manufacture products domestically instead of relying on overseas Trump administration is in talks to secure a 10 per cent stake in Intel in exchange for converting government grants that were pledged to Intel under President Joe Biden. If the deal is completed, the US government would become one of Intel's largest shareholders and blur the traditional lines separating the public sector and private sector in a country that remains the world's largest his second term, Trump has been leveraging his power to reprogramme the operations of major computer chip companies. The administration is requiring Nvidia and Advanced Micro Devices, two companies whose chips are helping to power the craze around artificial intelligence, to pay a 15 per cent commission on their sales of chips in China in exchange for export interest in Intel is also being driven by his desire to boost chip production in the US , which has been a focal point of the trade war that he has been waging throughout the lessening the country's dependence on chips manufactured overseas, the president believes the US will be better positioned to maintain its technological lead on China in the race to create artificial what the president said August 7 in an unequivocal post calling for Intel CEO Lip-Bu Tan to resign less than five months after the Santa Clara, California, company hired demand was triggered by reports raising national security concerns about Tan's past investments in Chinese tech companies while he was a venture capitalist. But Trump backed off after Tan professed his allegiance to the US in a public letter to Intel employees and went to the White House to meet with the president, who applauded the Intel CEO for having an "amazing story."The company isn't commenting about the possibility of the US government becoming a major shareholder, but Intel may have little choice because it is currently dealing from a position of enjoying decades of growth while its processors powered the personal computer boom, the company fell into a slump after missing the shift to the mobile computing era unleashed by the iPhone's 2007 has fallen even farther behind in recent years during an artificial intelligence craze that has been a boon for Nvidia and AMD. The company lost nearly USD 19 billion last year and another $3.7 billion in the first six months of this year, prompting Tan to undertake a cost-cutting the end of this year, Tan expects Intel to have about 75,000 workers, a 25% reduction from the end of last rare, it's not unprecedented for the US government to become a significant shareholder in a prominent company. One of the most notable instances occurred during the Great Recession in 2008 when the government injected nearly $50 billion into General Motors in return for a roughly 60% stake in the automaker at a time it was on the verge of bankruptcy. The government ended up with a roughly $10 billion loss after it sold its stock in Commerce Secretary Howard Lutnick told CNBC during a Tuesday interview that the government has no intention of meddling in Intel's business, and will have its hands tied by holding non-voting shares in the some analysts wonder if the Trump administration's financial ties to Intel might prod more companies looking to curry favour with the president to increase their orders for the company's was among the biggest beneficiaries of the Biden administration's CHIPS and Science Act, but it hasn't been able to revive its fortunes while falling behind on construction projects spawned by the company has received about $2.2 billion of the $7.8 billion pledged under the incentives programme - money that Lutnick derided as a "giveaway" that would better serve US taxpayers if it's turned into Intel stock. "We think America should get the benefit of the bargain," Lutnick told CNBC. "It's obvious that it's the right move to make."
