The promoters of DLF are in advanced discussions with shortlisted investors to sell their 40% stake in the realty developer’s rental arm, DLF Cyber City Developers (DCCDL), its management said. The final bids will be presented to a committee of independent directors for the evaluation and making the final decision, they told analysts on an… Read More »
If everything goes well, IT major Infosys will launch its operations for the entire northern region from Noida, two years from now. A team of officials from Infosys met Deepak Agarwal, CEO, Noida Authority, on Tuesday and submitted a revised layout plan for its Noida campus — the largest in north India. Later, speaking to… Read More »
Realty major DLF saw nearly 50% cancellations of gross sales in the first nine months of FY17, sparking concerns among investors. At an investor presentation, DLF said, out of Rs 1,550 crore gross sales booked in the first nine months of the current fiscal, it saw cancellationupgradation of Rs 790 crore, effectively reducing bookings to… Read More »
Embassy Industrial Parks, a joint venture between realty developer Embassy Group and private equity firm Warburg Pincus, will invest Rs 350 crore to build a 1.1-million sq ft industrial park at Chakan, Pune. The project will mainly comprise built-to-suit factories ranging from 50,000 sq ft to 2 lakh sq ft in size, Embassy Industrial Parks’… Read More »
India will soon have its first startup district with incubation centers and about 20 tinkering labs for schools aimed at encouraging the creation of innovative solutions in agriculture, health and education. Commerce & industry minister Nirmala Sitharaman, who is a Rajya Sabha MP from Karnataka, is keen for the entire cluster to be developed in… Read More »
Highrises in Noida, Greater Noida and Yamuna expressway are likely to adopt better fire safety measures as a draft proposal to suggest amendments in the building bylaws of the three development authorites has been given to a high-power committee. On Monday, CEO of Noida & Greater Noida authorities, Deepak Agarwal, held a meeting with the… Read More »
Waking up to the dangers of illegal structures, particularly after the building collapse at Nanakramguda that killed 11 people in December, the municipal administration department has decided to amend laws to make it tougher for people to register properties. The new law will ensure a builder or developer cannot sell flats or plots to people… Read More »
The Centre has warned states of a serious situation of vacuum arising if necessary institutional mechanisms for the real estate regulatory Act were not put in place before the deadline of May 1 this year. In a two-page letter to all the chief ministers of states on February 9, minister of housing & urban poverty… Read More »
GIC of Singapore is set to enter into exclusive bilateral negotiations with KP Singh and his family, the promoters of India’s largest real estate firm DLF Limited, to acquire their 40% stake in DLF Cyber City Developers Limited (DCCDL), the company that owns a portfolio of leased commercial assets, including the entire Cyber City complex… Read More »
GVK-led Mumbai International Airport (MIAL) has won the bid for the Navi Mumbai international airport, edging out rival GMR Group. GVK, which runs the Mumbai and Bengaluru airports, offered 12.6% in revenue share to the project implementing authority, the City and Industrial Development Corporation (Cidco) of Maharashtra. The contract would be awarded to the company… Read More »
