Real Estate News Update for July 29
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L&T Realty, the property development arm of Larsen & Toubro, has entered into a binding agreement with Valor Estate, earlier known as DB Realty, to jointly develop a more than Rs 20,000-crore project on a 10-acre land parcel in Mumbai’s Bandra-Kurla Complex (BKC), said people aware of the development.
The Supreme Court has asked Haryana govt to furnish details of affordable housing projects for which it issued licences in past 10 years. The court was hearing petitions filed by buyers who have invested around Rs 160 crore in Mahira Homes in Sector 103 - a project that has been stalled for almost two years and a half.
Aditya Birla Group flagship company UltraTech Cement will acquire a 32.72 per cent stake in India Cements from promoters and their associates for Rs 3,954 crore to expand its footprint in the highly competitive and fast-growing Southern cement market, particularly Tamil Nadu. Besides, Ultratech has also announced a Rs 3,142.35 crore open offer to acquire another 26 per cent share of India Cements Ltd (ICL) from its shareholders.
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The Noida Authority has set an ambitious target of allotting 5.5 lakh sqm across various categories this financial year, including industrial, commercial, residential, group housing and institutional plots.
EQT has emerged as a top contender to acquire affordable housing finance company Aavas Financiers Ltd (formerly AU Housing Finance Ltd) as promoters, private equity firms Kedaara Capital and Partners Group, are looking to exit their eight-year-old joint investment, said people in the know.
Aryan Khan, son of actor Shah Rukh Khan, has bought two floors at Panchsheel Park in South Delhi for ?37 crore, as per documents accessed by ET.
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