2022-09-21
China Vanke Co Ltd's property services arm has launched Hong Kong's largest initial public offering (IPO) of 2022, aiming to raise up to $783.5 million in a deal that will be a key test for investor appetite. The subsidiary, Onewo Space-Tech Service, has set a price range of HK$47.1 to HK$52.7 a piece in the public offering of 116.74 million of its shares, which represent 10% of the company's share capital, according to a deal term sheet.
2022-09-21
The Panipat district police is likely to soon register a First Information Report (FIR) against real estate developer Ansal API following complaints about alleged irregular land deals at its township, a government official in Haryana. The complaints have come from a group led by former district counsellor Jogender Swami, who alleged that the Ansal group and town planning department officials had connived in arranging the unlawful land deals.
2022-09-21
Esteem Properties, wholly owned subsidiary of DB Realty, has entered into a non-binding term sheet with a large fund for sale of its land at adjoining ITC Grand Maratha Hotel, Andheri East, Mumbai at a consideration of Rs 480 crore. The proposed transaction is subject to customary diligence and necessary approvals and is expected to close within 60 to 90 days.
2022-09-20
Builder in Maharashtra's Nagpur city for allegedly duping 22 homebuyers of Rs 12.90 crore. The economic offences wing (EOW) of the police has registered a case against Shashank Govindprasad Pandey (46) under sections 406 (criminal breach of trust), 420 (cheating). The builder allegedly sold the flats collectively for Rs 12.90 crore without informing the buyers about the mortgage agreement.
2022-09-20
Amit Bakshi, Chairman & Managing Director of listed pharmaceutical company Eris Lifesciences, has purchased a super-luxury sea-view apartment in a nearly-completed mixed-use skyscraper Three Sixty West in Mumbai’s plush Worli locality for Rs 61 crore. Bakshi has purchased the apartment spread over a carpet area of 64,50 sq ft on the 46th floor of the project from the developer, Oberoi Realty’s subsidiary Oasis Realty, that is executing the project.
2022-09-20
After completing a USD 6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. Stating reasons for the foray into the cement space, he said while India is the second largest producer of cement in the world, its per capita consumption is just 250 kg compared to 1,600 kg of China. "This is almost a 7x headroom for growth."
2022-09-20
Following the poor response to the plots put on sale, the Capital Region Development Authority (CRDA) has made changes to the value of the plots on a 60-40 basis which divides the price into two categories as sale price and development cost. The CRDA set the basic price for various categories of plots depending on the prevailing market prices, and the potential buyers can bid over and above the basic price by participating in e-auction process.
2022-09-20
NOIDA: Yamuna Expressway Industrial Development Authority (YEIDA) has issued a public notice, saying that a fictitious website — yamunaawasiyabhukhand(dot)in — is selling residential plots in its notified area near the proposed Noida Airport. It has a similar interface with the official website, with details of YEIDA’s master plan and projects like Noida Airport, Film City, Logistics Hub, among others, and offers a tab/button for registration of plots.
2022-09-20
For the first time in at least a decade, the Visakhapatnam Metropolitan Region Development Authority’s proposed bulk land auction has failed to garner interest among prospective buyers. The VMRDA had invited applications for sale of 10 land pockets located in different areas of Visakhapatnam and Anakapalli districts. Measuring about 24 acres, auctions of these lands were supposed to be conducted on September 12 and 15.
2022-09-20
Payments to the Brihanmumbai Municipal Corporation (BMC) from builders as premium and development charges have recorded a sharp fall this year. At the current rate of collection, the total may not even touch 20% of last year’s sum. In 2021, the BMC offered a 50% discount on premium payments for 13 months from January 2021 till January 31, 2022 in a bid to revive business after the pandemic.
