LAND AUCTION
Eldeco and Purvanchal buys land from Yamuna authority for Rs 250 crore
Eldeco Infrastructure and Properties Ltd has acquired a 20,000 sq metre land near the upcoming Jewar airport in Noida through an auction by YEIDA for Rs 96.86 crore. Purvanchal Projects, another Noida-based developer, purchased a 40,000 sq metre plot nearby for Rs 149.47 crore. Both acquisitions are for group housing projects, expected to feature high-rise developments.
BSNL to monetize prime land parcels in Mangalore; eyes Rs 39 crores reserve price
Bharat Sanchar Nigam Limited (BSNL) has announced the monetization of its land parcels in Mangalore in an effort to bolster its financial standing. The two-acre land parcel adjacent to Kadri Park at Store Yard, near Kadri Hills on Park Road, is set for e-auction. The reserve price is set at Rs 39 Crores with an Earnest Money Deposit (EMD) of Rs 1.95 Crores.
Gujarat Congress alleges GIDC land 'scam' in Bharuch; baseless, says BJP govt
The Gujarat Congress accused the state government of corruption in land allocation at two GIDC estates in Bharuch, claiming a scam worth Rs 2,000 crore. Congress leader Shaktisinh Gohil demanded an explanation from the BJP government, alleging plots were allotted at low rates without public auction, causing a massive loss to the state exchequer. The government refuted the allegations, stating the decision to reverse the estates' saturation status was made after industry bodies represented adequate unsold land, ensuring a transparent process in land allocation.
Lenders hope to recover at least 50% of Go First dues by auctioning land parcel
Go First Dues: Lenders will hold an auction of a land parcel measuring 94.7 acres at Thane in Mumbai on July 22. Lenders have stated that the land parcel is being sold to recover Rs 3918.5 crore. The reserve price of Rs 1965 crore equates to 50% recovery for banks.
BSNL and MTNL prioritise govt organisations for land asset sales worth Rs 1 lakh crore
Recently, BSNL sold one of its properties in Lucknow to the Income Tax department for around Rs 229 crore, which was the market value of the building.
Ericsson hopeful of securing Vi deals: Nitin Bansal
Ericsson, the Swedish telecommunications equipment manufacturer, anticipates securing 4G/5G contracts from Vodafone Idea (Vi) in the near future, following the recent successful equity raise of over Rs 20,000 crore by the struggling telecom company. Nitin Bansal, Managing Director of Ericsson India, expressed this optimism in an interview with ET. Bansal also mentioned that Ericsson is considering the possibility of exporting its 5G equipment from India.
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Go First's creditors to auction pledged land parcel in Thane
Creditors are set to auction a prime 94-acre land parcel in Thane near Mumbai, previously collateral for loans taken by Go First Airlines. The auction process involves major creditors and potential bidders amidst evolving legal challenges and financial considerations.
UPSIDA revenue hits record Rs 1,359 cr in FY'24
Uttar Pradesh State Industrial Development Authority (UPSIDA) recorded its highest operating revenue of Rs 1,359 crore in the 2023-24 financial year, marking a doubling of revenue compared to 2018-19. The authority has made significant strides in realizing Chief Minister Yogi Adityanath's vision of transforming Uttar Pradesh into an industrial powerhouse.
Godrej Split: Godrej & Boyce to hold exclusive construction right over Godrej land bank
The former will lead Godrej Industries Group, comprising listed companies, including Godrej Industries Ltd, Godrej Consumer Products Ltd, Godrej Properties Ltd, Godrej Agrovet Ltd and Astec Lifesciences Ltd. 75-year-old Jamshyd Godrej will lead Godrej Enterprises, which comprises Godrej & Boyce Manufacturing Co. with presence in many sectors like aerospace, aviation, defence, energy, construction, IT and software while his niece Nyrika Holkar will be the executive director.
Godrej family split: Adi, brother to keep listed firms; cousin Jamshyd to get unlisted cos, land bank
As per the arrangement that was uploaded on stock exchanges, Jamshyd Godrej, along with his niece Nyrika Holkar and their families, will now oversee the Godrej Enterprises Group (GEG), encompassing Godrej & Boyce and its affiliates spanning various industries. This development marks a significant change in control within the organisation.
Centre studying innovative ways to boost infrastructure funding
Government plans to capture land value increase from road projects through mechanisms like auctioning exits and betterment levy to boost infrastructure funding. Studying global best practices for innovative financing methods.
Noida's Trident Realty raises Rs 1.2k cr through sale of assets
Noida-based Trident Realty has raised ₹1,200 crore through sale of assets, including Shipra Mall in Ghaziabad and a land parcel in Gurugram, as part of plans to focus on its residential business and exit non-core assets, said people close to the development.
Sebi to auction 30 properties of 7 companies next month
Markets regulator Sebi on Monday said it will auction 30 properties of seven companies, including Mangalam Agro Products and Purusattam Infotech Industries, on May 15 to recover money illegally collected from investors. The properties will be auctioned for a reserve price of nearly Rs 25.64 crore.
Go First creditors to take possession of pledged land parcel
The lenders last week took symbolic possession of the land located in Thane, in the first step towards a likely auction of the property.
Haute House: Karl Lagerfeld's luxurious, 8-room Parisian home fetches $10 mn at auction
.Lagerfeld found the eight-room apartment, which is on the third floor of a 17th-century building and overlooks the Seine and the Tuileries, 20 years ago while reading Maison & Demeure magazine.
Four land parcels in Gurugram fetch Rs 500 crore from three developers
Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) recently conducted auctions for four land parcels in Gurugram designated for residential development, resulting in a total revenue of Rs 500 crore from three developers. Recently, Godrej, Experion, M3M, and Trevoc have made land acquisitions, while developers such as DLF, TARC, Signature Global, and Anant Raj are preparing for launches in Gurugram.
RINL seeks to sell 13.89 acres land in Visakhapatnam
Rashtriya Ispat Nigam Limited (RINL) has issued a request for proposals (RFP) for the sale of non-core surplus freehold land parcels at its Visakhapatnam project, as part of its efforts to reduce debt. According to the RFP document, RINL intends to sell 13.89 acres of non-contiguous land plots, which are grouped into 19 blocks consisting of 111 plots in total.
Deccan Gold Mines says reviewing data on critical minerals in India
Deccan Gold Mines Ltd, a gold exploration company, is evaluating data on critical minerals such as lithium and may seek exploration licenses if the assessment is positive. The company is reviewing data on Nickel, Copper, Graphite, and Lithium projects in India and overseas. Shares of the company surged following the announcement.
Dawood Ibrahim's two ancestral properties sold off at auction
Two properties linked to fugitive gangster Dawood Ibrahim's family were sold at an auction in Mumbai organized under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act. The auction featured four properties in Maharashtra, with two receiving bids.
Dawood Ibrahim's Maharashtra properties to be sold today. Here are the potential buyers
Maharashtra gears up for the auction of Dawood Ibrahim's ancestral properties, including his childhood home, with a reserve price of ₹19 lakh. Lawyer Ajay Srivastava, known for previous bids on Ibrahim's assets, eyes the purchase, aiming to transform the property into a school. This auction follows past unsuccessful attempts and speculation about Ibrahim's health, but a former journalist criticizes the auction's relevance. The saga continues as bidders anticipate the fate of these historically charged assets.
IPL 2024 auction: Uncapped bowlers steal the show in high-stakes bidding wars
IPL 2024 Auction showcased intense bidding for uncapped bowlers. Yash Dayal landed a Rs 5 crore deal with RCB, while Manimaran Siddharth joined Lucknow Super Giants for Rs 2.4 cr. The high-stakes battles also saw players like Sushant Mishra and Kartik Tyagi securing significant deals. However, several promising talents remained unsold, indicating the fierce competition for select uncapped bowlers.
Uncapped Indian batsman Sameer Rizvi lands staggering Rs 8.40 cr deal with Chennai Super Kings
Sameer Rizvi, an uncapped Indian batsman, made headlines in the IPL 2024 auction by securing an unexpected Rs 8.40 crore deal with the Chennai Super Kings, surpassing his initial price tag of Rs 20 lakh. The auction witnessed intense bidding between teams, with CSK ultimately triumphing. Despite challenges from other franchises, including Delhi Capitals, CSK secured Rizvi's agreement.
Yamuna authority to auction plots for nursing homes, hospitals near the upcoming Jewar airport
In a strategic move, the Yamuna Expressway Industrial Development Authority (YEIDA) has launched an e-auction for prime plots near the upcoming Jewar airport. The initiative includes plots for nursing homes, hospitals, maternity centers, corporate offices, and senior secondary schools. Interested parties can apply for plot acquisition until January 1, 2024, with the e-auction process set to conclude by February 29, 2024.
Jammu-Kashmir Express all set to land at IPL auction in Dubai: 9 players short-listed
The Indian Premier League (IPL) has shortlisted nine players from Jammu and Kashmir for the 2024 Player Auction. Vivrant Sharma, a key player in the region, made his IPL debut with Sunrisers Hyderabad last year. He has 309 runs in 14 T20 innings and 8 wickets in 7 innings. Nasir Lone, a 26-year-old all-rounder, has not yet featured in the IPL but hopes to do so in the upcoming auctions.
Sebi to auction 13 properties of Bishal Group of companies, NVD Solar on Dec 12
Of the 13 properties, eight are related to Bishal Group of companies (Bishal Abasan India Ltd, Bishal Distillers Ltd, Bishal Agri-Bio Industries Ltd, Bishal Horticulture and Animal Projects Ltd) and five belong to NVD Solar.
PSBs told to speed up sale of defaulters' properties
The Indian finance ministry has requested state-owned banks to expedite the development of an advanced property auction platform and mobile app. Around 500,000 properties owned by state-owned lenders will be listed on the platform, offering bidders access to ownership details, photographs, videos, and other information. Currently, state-owned banks advertise properties for sale, but they often go unnoticed.
Experion buys six-acre land parcel in Gurugram for Rs 400 crore
HSVP and Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) have been auctioning prime land for residential development in Gurugram. Apart from Experion Developers, Godrej Properties, Eldeco Group and Ashiana Housing have acquired land through government auctions in recent months.
HSVP auctions two land parcels in Gurgaon for Rs 520 crore to Experion and Trevoc group
Experion Developers has acquired a six-acre land parcel in Gurgaon's Sector 53 for about Rs 400 crore through an auction. The company, along with other real estate developers like Godrej Properties, Eldeco Group, and Ashiana Housing, has been acquiring land through government auctions for residential development in Gurgaon. Experion Developers, the Indian arm of Experion Holdings Pte Ltd, Singapore, expects to generate revenue of about Rs 3,400 crore from these projects. Delhi-NCR and Mumbai have seen significant investments in land acquisition for real estate development.
UP government to auction land for data centres near Jewar airport
These plots are part of a 100-acre data centre park planned by the state government-run Yamuna Expressway Industrial Development Authority (Yeida). The UP government aims to establish three data centre parks where it is expecting investments of Rs 20,000 crore. The one in Jewar is the first of these planned facilities.
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