Maharashtra government approved a plan. This plan allows owners of residential plots allotted by CIDCO to convert their leasehold properties to freehold. CIDCO formed a committee to manage applications. The scheme applies to various plot allotments. Source link...
Zomato's co-founder, Deepinder Goyal, invested Rs 52.3 crore in a luxurious 11,000 sq ft apartment within DLF Camellias, Gurugram, back in August 2022, with registration completed this March. Experts estimate the property's current value soars between Rs 125 crore and Rs 150 crore, reflecting Gurugram's surging housing market. Source link...
MHADA and Adani Properties have partnered to redevelop Motilal Nagar in Goregaon, Mumbai, in MHADA's largest redevelopment project. Adani Properties will provide a significant portion of housing stock to MHADA, offering larger homes to existing residents and rehabilitating slum dwellers. This initiative aims to modernize housing infrastructure, address civic issues, and improve the quality of life for...
Valor Estate, formerly DB Realty, has emerged as the highest bidder for Lavasa Corporation, offering ₹771.09 crore. The selection followed a competitive bidding process with ten rounds, but the deal hinges on environmental clearances, a crucial factor for lenders wary of past experiences. The committee of creditors will negotiate further and decide on the next steps. Source link...
Adani Group has placed an unconditional bid of ₹12,600 crore for Jaiprakash Associates amidst its insolvency resolution. Other contenders like Dalmia Bharat, Vedanta, and Jindal Power have submitted bids contingent on the resolution of a land dispute. The committee of creditors has urged all bidders to revise their financial offers for the Jaypee Group flagship firm. Source link...
A bench of Justices P S Narasimha and R Mahadevan, however, said the substitution of the property would be subject to nine conditions as suggested by ED. Source link...
IL&FS has filed a plea seeking to reverse the sale of its iconic BKC building to Brookfield, alleging non-compliance with bid conditions. The insolvent financier claims Brookfield's unit, Chronos, failed to renew a ₹108-crore performance guarantee, rendering the letter of intent invalid. This move comes as commercial property values in BKC have risen, potentially making Brookfield's initial offer...
The new rules and guidelines would give property owners the opportunity to create more usable space on a piece of land. Officials said more than 1,000 objections and suggestions were disposed of, and some were considered before preparing the final draft. Source link...
JSW Group has secured ₹9,300 crore to acquire Akzo Nobel India. The funding includes debt and convertibles. Foreign lenders and domestic mutual funds are participating. JSW Paints will raise operating company debt. Convertibles are at the JSW Group level. Sajjan Jindal Family Trust sold a stake in JSW Infrastructure. The deal aims to make JSW Paints India's fourth-largest paint company. Source link...
Chief Justice Sheel Nagu of the Punjab and Haryana High Court has recused himself from hearing a plea by M3M's Roop Bansal to quash a corruption case. This follows the withdrawal of the case from a single judge after complaints, despite the judge having reserved judgment. Source link...