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The Ahmedabad Municipal Corporation (AMC) revoked development permission for the HR Exeter-2 construction site in Ambawadi following a tragic incident in which a girl lost her life on the site. Upon inspection, AMC officials discovered that the company had failed to implement necessary safety measures at the location. ...
The Delhi Development Authority has initiated a large-scale e-auction for prime plots, built-up shops, kiosks, mobile tower sites, and other properties. This online bidding event is scheduled to take place over three days, from November 7 to 9, for the convenience of the public. ...
The Supreme Court's decision to grant bail to the directors of real estate firm M3M, Basant Bansal and Pankaj Bansal of Gurugram, set the stage for Lalit Goyal, MD of Ireo Group, to secure bail from the special Prevention of Money Laundering Act (PMLA) court in Panchkula. Goyal was granted bail on October 13, with the judge meticulously examining potential violations related to his arrest by the enforcement directorate in light of Supreme Court directives. ...
Supertech ORB, a project constructing luxurious high-rise residential apartments in the southeastern suburbs of Delhi-NCR, is facing bankruptcy proceedings. This situation may lead to a delay in handing over the properties to the homebuyers in one of Noida's most upscale residential areas. Furthermore, Supertech's other project along the Noida-Greater Noida Expressway encountered issues when twin towers had to be demolished due to construction faults and rule violations. ...
One of the largest land parcels in Mumbai, spanning 37 acres and owned by the defunct engineering firm Guest Keen Williams (GKW) in Bhandup, will undergo joint development by the landowner and the real estate company Mahindra Lifespaces. ...
CK Birla, an industrialist, has approached Gautam Adani to sell his promoter stake in Orient Cement, a listed company. This move came after Birla rejected initial offers from other domestic players as they did not meet his valuation demands. Senior executives from both sides have held discussions regarding a potential deal. It's worth noting that the Adani Group already possesses India's second-largest cement capacity. ...
Google Inc, the tech giant, has secured office space spanning an entire floor in the Fintech One commercial tower at Gujarat International Finance TecCity (GIFT) in Gandhinagar, which is owned by Blackstone Group. This space will be used to establish Google's global fintech center. ...
HSBC Holdings Plc has increased the size of a loan arrangement for a part of Mukesh Ambani's business empire in India, showing confidence in Asia's wealthiest individual. Initially, the London-based bank offered a £60 million ($73 million) loan facility to a Reliance Industries Ltd subsidiary shortly after its acquisition of the Stoke Park estate in southeast England for £57 million in 2021, as per UK registry filings. ...
In a significant policy change rectifying a prior decision that burdened numerous housing societies, the Haryana government will no longer require developers to construct power substations or provide bank guarantees for them. The Haryana Electricity Regulatory Commission (HERC) has notified that these substations will be built by distribution companies. Developers will be responsible for the sanctioned load of a condominium or township and will need to allocate land for the substation to the discom at no cost. ...
In its first anti-encroachment operation since this year's floods, the Noida Authority demolished approximately 50 illegal farmhouses situated on the Yamuna floodplains in Sector 151. These farmhouses encompassed several acres and had concrete structures where commercial activities were being conducted. ...
Maruti Suzuki, India's largest passenger car manufacturer, has secured a 270,000 sq ft lease in Tag Avenue, a commercial building located in Gurgaon. This move follows a request from Haryana Chief Minister Manohar Lal Khattar last year for the automobile giant to relocate its corporate office to Gurgaon. As part of this agreement, 900 acres of land were allocated to Maruti Suzuki India Limited and Suzuki Two Wheeler India Private Limited in Haryana. ...
The City and Industrial Development Corporation of Maharashtra (CIDCO) has revoked the allocation of two adjacent plots in Sampada, Navi Mumbai, to Godrej Properties, as reported in a BSE filing. Godrej Properties has contested this cancellation by filing a writ petition with the Bombay High Court. ...
Emaar India, the local subsidiary of Dubai's Emaar Properties, plans to invest at least $1.85 billion over the next two years. CEO Kalyan Chakrabarti aims to achieve in 21 months what previously took 21 years, with a plan to release approximately 10 million square feet of real estate in key markets such as Mumbai, Pune, Bengaluru, and Hyderabad. ...
The Indian cement industry is facing challenges in competing in international markets due to duty-free imports of cement in the country, along with the duties imposed on domestic producers for raw materials. The PHD Chamber of Commerce and Industry (PHDCCI) has conveyed this concern to the commerce and industry ministry. ...
Blox, an AI-powered proptech company, is in the final stages of acquiring a controlling stake in Justo, a mandate brokerage firm with a strong presence in Maharashtra. The deal is valued at ?350 crore and is expected to be completed using a combination of cash and stock, according to individuals with direct knowledge of the matter. ...
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