Faced with cash crunch, realty firm Unitech has sold 74-acre land in Gurgaon, Chennai and Hyderabad for Rs260 crore to boost its cash flow and complete ongoing projects. The Gurgaon-based developer has sold 41 acres in Hyderabad for Rs160 crore, 19.05 acres in Chennai for Rs67 crore and 13.55 acres in Gurgaon for Rs33 crore.… Read More »
Auction of two land blocks of 2.84 acres and 2.38 acres in Raidurg in the IT hub of Hyderabad has helped TS Industrial Infrastructure Corporation raise Rs 185 crore. As against the base price of Rs 60,500 per sq.yard, in the first block of 2.38 acres, the highest bid was that of Gowra Real Estate… Read More »
Embassy Industrial Parks, a joint venture between realty developer Embassy Group and private equity firm Warburg Pincus, acquired 24 acres in Gurgaon for `38 crore to set up a warehousing facility. The warehouse on National Highway-8 near Bilaspur Chowk will have a leasable area of 6.1 lakh sq ft. “The company will invest a total… Read More »
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 »
The Salarpuria Sattva Group has bought 10 acres of premium land in Hitec City in Hyderabad from BPTP, a Gurgaon-based builder for an undisclosed amount, a person with direct knowledge of the deal told ET. “The deal was closed last week and Salarpuria plans to build 4 million sq ft office space,“ the source said.… Read More »
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 »
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 »
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 »