2022-09-28
Global fund Blackstone raised around USD 325 million (about Rs 2,650 crore) by selling its shares in Embassy Office Parks REIT to monetise part of its investment. Abu Dhabi Investment Authority (ADIA) and Kotak have bought shares in the block deal. ICICI Prudential, HDFC Life and Kotak Mutual Fund are among other buyers.
2022-09-28
The country's fifth largest cement maker Birla Corporation Ltd will invest USD 1 billion over the next eight years to ramp up its capacity to 30 million tonne from the present 20 million tonne. The plan entails the installation of a four-million tonne per annum each capacity in a greenfield project and brownfield expansion. While a two million tonne output increase will come from the de-bottlenecking of existing facilities.
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.
2022-09-27
MUMBAI: A developer has encroached upon a 6,000 sqm plot reserved for a playground in Khar (w), flouting a 1995 Supreme Court order. The report states that the rehab building is constructed up to the plinth level and compound wall is still to be constructed. It also informs that on vacant land (play ground), there exists labour sheds measuring 137.79 sqm.
2022-09-27
District Consumer Forum Kanpur Nagar ordered Kanpur Development Authority (KDA) to pay interest at the rate of seven percent for keeping with it the money of the complainant for two years. The Forum also directed to pay a sum of Rs 5000 as legal expenses to the complainant.
2022-09-27
Jaipur Metro Rail Corporation Limited (JMRCL) officials are apprehensive about the fate of Line-2 of Jaipur Metro as the state government is ‘still showing no interest’ in the project and project cost is escalating. The cost for Line-2 was almost Rs 10,000 crore. Since the government was reluctant to spend such a huge amount, Metro officials prepared another DPR in 2021 in which the project cost came down to around Rs 4,600 crore.
2022-09-27
Andhra Pradesh is moving towards purification of land records to eventually reach a stage in future where the state would stand a guarantor to every genuine patta holder. The government's recent memorandum of understanding (MoU) with Hyderabad-based Nalsar's Centre for Tribal and Land Rights (CTLR) is seen as a step in the right direction because CTLR has acquired expertise in the area of rights of people over land in various areas.
2022-09-27
IDFC First Bank has picked up a total of 18 floors of office space spread over nearly 4.5 lakh sq ft in a commercial project Quantum in Thane from Hiranandani Group on a long-term lease of 10 years including a renewal option. This is one of the largest office lease transactions concluded this year. The private-sector bank will be paying Rs 202.5 crore as rental for the office space over the first five-year tenure.
2022-09-27
The Nagpur Improvement Trust (NIT) has increased charges for giving no-objection-certificate (NOC) for amalgamation (merging) and division of its leased plots. The charges have been increased 2.5 times, from Rs10,000 to Rs25,000. The proposal was to recover 2% of ready reckoner value, which would have been many times higher compared to the existing charges of Rs10,000.
2022-09-27
The Haryana government has started the verification of structures built in forest areas of four villages of Faridabad. Officials in the forest department said they would need four days to verify the status of the land and anyone found to have built the structures illegally would be sent show-cause notices from next week.
