2022-09-30
Infrastructure major Larsen & Toubro’s subsidiary L&T Metro Rail (Hyderabad) has entered into a pact with Brookfield Group to transfer around 15 acres of land parcel in the Hyderabad Information Technology and Engineering Consultancy City (HITEC City) to the global institutional investor. The land parcel will be transferred through a nearly 50-year lease for a total deal value of around Rs 1,020 crore.
2022-09-29
Debenture holders have moved an insolvency plea against Peninsula Land at national company law tribunal (NCLT) to invoke corporate guarantees worth ₹117 crore provided by the Ashok Piramal company. The debenture holders are being represented by their trustee Vistra ITCL, the custodian of the debentures and the collateral documents backing the debt instruments.
2022-09-29
Jaiprakash Associates Ltd (JAL), the flagship company of the Jaypee Group, is seeking to stave off a fresh insolvency bid, this time from SBI, by seeking to sell its remaining assets. The case Manoj Gaur was referring to involves Jaypee Super in Uttar Pradesh, which was part of the sale of 22 million tonnes of cement capacity to UltraTech five years ago.
2022-09-29
The state government has provided a big relief to the MLAs by waiving the lease money (freehold) on multi-storey flats allotted to them at Mansarovar and Pratap Nagar. These flats were already sold to the MLAs at half the cost during the Covid-19 time. Now the urban development and housing (UDH) minister has waived the lease money. The move will cause a Rs 4 crore loss to the state exchequer.
2022-09-29
The Dharavi redevelopment project will have an FSI of 4, but with a height restriction on account of proximity to airport. However, the balance FSI will be used elsewhere. The redevelopment authority will issue global tenders next week, said deputy CM Devendra Fadnavis. The housing department issued a detailed GR outlining the guidelines to be followed for the project.
2022-09-29
GHAZIABAD city made a record revenue collection of over Rs 10 crore from stamp duty and registration charges on the first day of Navratri. Some 449 properties were also registered on the day. This is the highest single-day revenue collection from stamp duty and registration charges since 2016 and also the highest so far this year, according to officials.
2022-09-29
The National Company Law Tribunal (NCLT) has approved the sale of infrastructure lender IL&FS' headquarters, a 10-storey iconic property in Mumbai's business district Bandra-Kurla Complex (BKC), to global alternative investment major Brookfield Asset Management. Brookfield's affiliate company Chronos Properties has emerged as the successful bidder to acquire the marquee property for over ₹1,080 crore.
2022-09-29
Hong Kong private home prices fell 2.256% in August from a month earlier to the lowest since February 2019, as market sentiment was hurt by rising interest rates. The drop in home prices in one of the world's most unaffordable housing markets last month followed a revised 1.44% decline in July.
2022-09-29
Godrej Properties has acquired a 7-acres land parcel located in the vicinity of Indiranagar, Bengaluru. The project is estimated to have a developable potential of approximately 0.6 million sq ft of saleable area and will have an estimated booking value potential of approximately Rs 750 crore.
2022-09-28
Shares of tile maker Orient Bell rallied 6 per cent to Rs 635 in trade after the company announced the completion of the expansion at its Hoskote plant in Bengaluru, which involved a capex of Rs 34 crore. With this, the total capacity of the company has increased from 32 MSM per annum to 33.8 MSM per annum including 10 MSM per annum of the associated entities.
