Land in Bangalore
As part of its strategy to repay debt, realty major Unitech has recently sold around 10 acres of land in Bangalore and Mysore for about Rs 100-130 crore. Unitech currently has debt of about Rs 6,200 crore, including Rs 150-200 crore from Life Insurance Corporation of India (LIC). It has been reported that the LIC [...] Continue Reading »
Godrej properties is planning to acquire 14 acre land in Bangalore from Housing Development and Infrastructure Ltd. The cost of the property is estimated at Rs 100 crore. According to sources, the Godrej Property may pay up to Rs 105 crore in case if HDIL obtains all permissions for construction on the land. HDIL plans [...] Continue Reading »
In a recent land audit, it is calculated that Karnataka Housing Board owns unaccounted property worth over Rs 1,000 crore. In the audit it is also pointed out that those 18,000 properties in Bangalore are not registered in the asset register of KHB. The government has planned to distribute the newly identified assets to the [...] Continue Reading »
