Real Estate News Update for March 28
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Residential
NEW DELHI: Delhi Development Authority has initiated the process to demolish the crumbling Signature View Apartments in north Delhi’s Mukherjee Nagar. It has invited applications from contractors to submit bids for the demolition of 336 high-income group and middle-income group apartments. A pre-bid meeting on the Rs 3-crore project will be held on April 1.
Cement
MUMBAI: India Cements, one of the leading manufacturers of the primary building material in the peninsula, is looking to raise as much as ?750 crore in bonds and has mandated ICICI Bank and EY to arrange for the debt from lenders including private credit funds.
Industry
Realty developer K Raheja Corp will develop a 2.5-acre land parcel in Mumbai’s Worli into a luxury residential project with revenue potential of more than Rs 2,000 crore, said persons with direct knowledge of the development.
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Industry
MUMBAI: Hinduja Group firm GOCL Corporation Limited (GOCL) on Wednesday said it has inked an initial pact with Hyderabad-based Squarespace Builders to initiate the strategic monetization of approximately 264.50 acres of prime land located in Kukatpally for Rs 3,402 crores.
International
A luxury apartment in London used by Nirav Modi and held in a trust can be sold for a value not less than GBP 5.25 million after a high court ruling in London on Wednesday. Master James Brightwell, the judge presiding over a hearing attended remotely by the 52-year-old fugitive diamond merchant from Thameside prison in south-east London, accepted representations from the Enforcement Directorate (ED) to hold the proceeds from the sale of 103 Marathon House in a secure account after all "pressing liabilities" of the trust have been cleared.
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