Category Archives: Mumbai

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Legal, regulatory woes hit land deals in Mumbai, suburbs

Land deals in Mumbai and its suburbs have dried up as buyers, wary of legal and regulatory hurdles, refuse to pay up the money demanded by sellers, industry officials and analysts said. The demonetisation exercise and the crackdown on black money haven’t helped either. Last month, drugmaker GlaxoSmithKline Pharmaceuticals Ltd cancelled bids to sell 64 acres… Read More »

We may auction Hotel Leela land in Mumbai, says AAI chief

With the Airports Authority of India (AAI) terminating the land lease contract of Hotel Leela Venture in Mumbai, the state-run body is now planning to monetise the land and building belonging to the hospitality company to shore up its non-aeronautical revenues. Speaking to BusinessLine, Guruprasad Mohapatra, Chairman, Airports Authority of India, said, “We have had… Read More »

HOCL land sale to benefit Kochi unit

The decision by the loss-making Mumbai unit of Hindustan Organic Chemicals Limited (HOCL), HOCL-Rasayani, to sell its 442 acres of land to BPCL has come as a boon to the HOCL-Kochi unit as the latter will be getting a pie from the sales proceedings. The deal assumes significance in the wake of the Union Budget… Read More »