Puravankara Projects has sold 100% stake in three subsidiary companies including land to Hetero Group, a lead in pharmaceutical company in India for Rs 475 crore. The subsidiary companies was expected to construct a real estate project in Raidurg in Hyderabad. The three subsidiaries include Purva Land Ltd, Purva Marine Ltd and Purva Hotels Ltd.… Read More »
The Mumbai-based real estate firm, on March 15, has announced acquisition of 7.5 acres of land (0.8 million square feet saleable area, residential) in North Bangalore for a consideration of Rs 60 crore. Given high IRR (internal rate of return), the brokerage house views this deal favorably, and it thinks this could lead to bigger… Read More »
Public sector lender Syndicate Bank has put up land bank owned by GVK Group in GVK Perambalur SEZ Pvt Ltd in Tamil Nadu for sale as part of recovery of its outstanding loan of Rs 175 crore. According to a public notice issued by the bank on Thursday, the Reserve Price of the property that… Read More »
In a setback for IT companies that want to set up base in Hyderabad, sources say they shall no longer be allotted land at a subsidised rate. Companies will have to purchase land at the existing market rate now. Sources tell CNBC-TV18 that the paucity of land in the outskirts of Hyderabad is the reason… Read More »
Buckling under pressure from industrial associations and the realty sector, the government on Wednesday decided to do away with the system of allotting land on a 99-year lease condition through the Karnataka Industrial Areas Development Board (KIADB). Hence forth, absolute sale deeds will be issued. A decision to this effect was taken during the cabinet… Read More »
Honda Cars has acquired 380 acres in Gujarat to set up a new assembly line, though its two existing plants are running at half the installed capacity of 2.40 lakh units as its sales fell over 25 per cent last year. Honda has an assembly line each in Greater Noida near Delhi and Tapukura in… Read More »
The Bihar Industrial Area Development Authority (BIADA) has invited applications for allotment of 197 acres of its land across the state for industrial purposes. BIADA neither has a huge land bank nor has it undertaken any massive land acquisition exercise in the recent past. Sources said BIADA has around 200 acres of land, which has… Read More »
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 »
Realty firm Unitech Ltd has sold over 30 acres of land parcels in Gurgaon and Chennai for Rs 97 crore as part of its plan to divest non-core assets. The company has sold 30.60 acres of land for Rs 96.86 crore during October-December quarter of this fiscal, according to a presentation. Unitech has sold 19.05… Read More »