Realty News
At least four private equity firms including private sector lender Lakshmi Vilas Bank and infrastructure major IL&FS Engineering and Construction Company are looking to have rights issue worth more than Rs 800 crore. Mirc Electronics, which sells the Onida brand of TVs and drug firm Neuland Laboratories is looking to raise funds through this route. [...] Continue Reading »
The private equity real estate arm of the global investment firm Xander Group has invested Rs 370 crore in Kapstone Constructions. It is the It is the group company of Mumbai-based developer Rustomjee. The money raised will be used for reducing debt burden and for further growth of the Rustomjee group. Boman Irani, Chairman, Rustomjee, [...] Continue Reading »
In a move to improve transparency and efficiency, The Delhi Development Authority (DDA) is planning to make its payment and financial transactions online within this year. DDA has engaged the consultant Ernst and Young to study processes in all its departments and prepare a request for proposal document. A DDA official pointed out that the [...] Continue Reading »
Property bubble in China is not a new topic. Economists have for quite a long time deliberated over the meteoric rise of home prices, and the runaway pace of new construction. There have been a lot of reports on “ghost cities” — newly constructed Chinese municipalities that were never occupied — led to frequent warnings [...] Continue Reading »
Sangvi-Kiwale Bus Rapid Transit System (BRTS) route will be constructed by the Pimpri Chinchwad Municipal Corporation (PCMC) to enable uninterrupted traffic flow. Joint city engineer Rajan Patil points out that a 14-km Sangvi-Kiwale Road is being developed. It starts from Mukai chowk in Kiwale to Rajiv Gandhi bridge on Mula river in Sangvi as a [...] Continue Reading »
The Indian arm of the Swedish mining & construction company Sandvik Smith AB, Sandvik Asia, has has appointed Parag Satpute as the new country manager for India. Ajay Sambrani, who quit the firm, is replaced by him. He is an MBA from Warwick Business School, UK with a bachelor’s degree in Mechanical Engineering from Pune [...] Continue Reading »
More than 100 houses built illegally on forestland in the Neb Sarai area have been surveyed by The South Delhi Municipal Corporation and out of them 10 were sealed.40 notices have been issued by the forests department ordering the occupants to vacate the premises. After the National Green Tribunal (NGT) had ordered Delhi’s two top [...] Continue Reading »
A website that helps students and bachelors find accommodation, Flat.to, has been acquired by Real-estate portal CommonFloor. The deal signals growing consolidation in India’s consumer internet industry. The deal was finalised last week and includes both cash and stock components. Sumit Jain, cofounder of CommonFloor declined to share the financial details of the transaction. He [...] Continue Reading »
In a mail to Lucknow Metro Rail Corporation’s (LMRC) Sreedharan suggests that an Agence Francaise de Development (AFD) loan is not best suited for the project. He points out that FIDIC contract conditions don’t suit the Indian situations and may lead to international arbitrations hiking the cost of the project. He adds that AFD would [...] Continue Reading »
Speaking recently at a workshop organized by Confederation of Real Estate Developers Associations of India (Credai) – National for builders in Pune, Satish Magar, vice-president of the agency said that The Maharashtra Regulatory & Development Act (MHRDA), 2012, is committed to bring more transparency and accountability, thus, helping both builders and property buyers. Magar said [...] Continue Reading »
