Real Estate News Updates for May 11
------------------------------------------------------------------------
The Noida and Greater Noida authorities are considering a co-developer policy as a single solution for two major problems-finishing incomplete housing projects stalled due to a lack of funds and realising its dues.
Companies will be allowed to infuse money into a project and complete them under the policy, instead of realtors striking co-developing agreements on their own, which has happened for a few stuck projects in the city.
Former special judge of the CBI/ED court at Panchkula Sudhir Parmar, who was suspended by the Punjab and Haryana high court on April 27, has been booked in a corruption case registered at the anti-corruption bureau (ACB) police station in Panchkula.
His nephew, Ajay Parmar, and real estate company M3M managing director Roop Bansal have also been booked in the case along with others listed as “unknown”. A Haryana ACB team had raided the former judge’s official residence on April 18.
Kolte-Patil Developers (KPDL), a Pune-based builder has signed two new residential development projects with a total estimated saleable area of 1.9 million sq ft a top-line potential of Rs 1,300 crore in Pune.
These projects are located in Wagholi (Nagar Road) and NIBM Road (Kondhwa). In Wagholi, the company acquired about five acres land having as estimated developable potential of approximately 7.5 lakh sq ft and revenue potential of about Rs 400 crore.
Cera Sanitaryware has reported a growth of 18.39 per cent in its net consolidated profit during the quarter ended March 31, 2023. Its profit after tax stood at Rs 63.16 crore in Q4 FY23 as against Rs 53.35 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company's net consolidated total income stood at Rs 544.92 crore in Q4 FY23, a growth of 21.91 per cent from Rs 446.97 crore it recorded in the similar quarter last year.
The board of directors recommended dividend of Rs 50 (1,000%) per fully paid-up equity share of Rs 5 each for the year ended March 31, 2023.
领英推荐
The Noida Authority is planning a study to determine the most suitable financial model for acquiring land in the upcoming Dadri-Noida-Ghaziabad Investment Region (DNGIR).
The Noida Authority planning team has received instructions to conduct an extensive study of the financial models used in other states—Gujarat, Haryana, Delhi, and Rajasthan.
Also Read:
--------------------------------------------------------------------------------
This is a condensed version of?ETRealty?Newsletter! Get the full version by?subscribing here!
-------------------------------------------------------------------------------
www.etrealty.com?is an online resource for the latest news, analysis, and insights on the Indian real estate market. Our website provides comprehensive coverage of the real estate sector, including residential and commercial properties, infrastructure developments, and regulatory updates.
Follow us here for more updates!
LinkedIn:?https://www.dhirubhai.net/company/et-realty/
Twitter:?https://twitter.com/Realty_ET
Facebook:?https://www.facebook.com/ETRealty
Instagram:?https://www.instagram.com/et.realty/