Brigade Enterprises buys Bengaluru land for Rs218 crore from SAB Miller

Realty firm Brigade Enterprises Ltd has bought a 12.95-acre land parcel in north Bengaluru’s Yeshwantpur area for Rs218 crore from SAB Miller India Pvt. Ltd, said a top company executive. The acquisition has been made through Brigade’s subsidiary Brigade Infrastructure and Power Pvt. Ltd. “We plan to build an IT (information technology) park. The acquisition… Read More »

Unitech sells 74-acre land in 3 cities for Rs260 crore

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 »

RERA effect: Cidco’s 36,000 sq metres plots sold for 20% less rates

Six plots in New Panvel, totally measuring around 36,000 sq metres, on Tuesday fetched City and Industrial Development Corporation (Cidco) over Rs 245 crore. Builders say the rates at which the plots were acquired by developers are around 20% lesser due to the new Real Estate (Regulation & Development) Act (RERA). Vice president of the… Read More »

At Rs 45,000 per sqft, plot in Bengaluru CBD goes for Rs 45 crore

In the costliest real estate deal, BP Kumar Babu of Cornerstone Group, the largest landholder in Bengaluru, has acquired a 10,000-sqft plot opposite UB City for Rs 45 crore. At Rs 45,000 per sqft, the deal has dwarfed all other recent transactions, including Flipkart cofounder Binny Bansal’s residence buy in Koramangala last year. Confirming the… Read More »

Land, assets of 5 sick PSU units put up for sale

Land and other immovable assets of five sick public sector units including HMT Watches and Hindustan Cables have been put on sale as the government looks to shut the continuously loss-making units. State-owned construction firm NBCC (India) Ltd is auctioning the assets, which will be sold only to central and state government organisations. Land parcels… Read More »

Embassy Industrial Parks acquires 24 acres in Gurgaon for Rs 38 crore

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 »

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 »

Salarpuria Sattva buys 10 acres land in Hyderabad’s Hitec City

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 »