LOGIX INFRASTRUCTURE
Supertech, Sunworld groups lose land plots on Yamuna Expressway over pending dues
The Yamuna Expressway Industrial Development Authority (YEIDA) has cancelled land parcels to Sunworld Infrastructure and Supertech Township near the Noida International Airport and proposed Film City due to pending dues. Sunworld Infrastructure owed Rs 164.86 crore, while Supertech Township had pending dues worth Rs 137.28 crore.
Noida extends rehab package offer for projects facing insolvency; Supertech, ATS, Logix Group among defaulters
The Uttar Pradesh government has extended the rehabilitation package for housing project developers facing insolvency proceedings by two weeks. The package offers incentives such as interest waivers and penalties during the pandemic in exchange for withdrawing cases with the NCLT or courts. The package aims to assist developers like Supertech, ATS, and Logix Group who have stalled projects and owe significant dues.
Noida Authority seals over 100 unsold flats of three builders for non-payment of dues worth Rs 1,086 cr
The Noida Authority has sealed over 100 unsold flats of three housing projects here over non-payment of dues collectively worth Rs 1,086 crore, officials said on Friday. The action was taken jointly by the departments of group housing, planning and the local work circle of the Noida Authority on Thursday, they said.
UP RERA imposes Rs 1.77 cr penalty on 13 real estate promoters over non-compliance of orders
RERA during a meeting on Monday reviewed the status of compliance of its orders by the promoters of the realty projects. The authority found that some of the developers have indulged in non-compliance despite being granted sufficient time.
NCR has 1.7 lakh unsold housing units: ICRA
Noida is the largest micro-market, contributing to around 66% of the inventory, followed by Gurgaon at 22% and Faridabad at 3%. The balance inventory is spread across various areas of NCR, including Delhi.
UP RERA imposes Rs 1.93 crore penalty against 14 developers
The developers who have been penalised include Supertech Ltd., Parth Infrabuild Pvt. Ltd., Radicon Infrastructure & Housing Pvt. Ltd., IVR developers Pvt. Ltd., Logix Infrastructure Pvt. Ltd., Harsha Associates Pvt. Ltd.
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Indiabulls exits three realty projects of investee firms
In the largest of these three transactions, realty developer M3M has repaid Rs 225 crore to the lender after raising funds from the State Bank of India for its residential development project M3M Golf Estate in Gurgaon. The project is spread over 56 acres and includes an executive golf course. Mumbai-based realty developer Mohan Group has also repaid Rs 110 crore to the housing finance company.
Logix raises Rs 540 crore from IndusInd Bank via lease rental deals
The bank has extended the loans against rental inflows from Logix Cyber Park and Logix Techno Park, located in Noida in the National Capital Region, said two persons with direct knowledge of the development.
20 nations likely to participate in mega logistics meet in January 2019
Logix India 2019 is scheduled to take place in New Delhi from January 31-February 2, 2019.
PE investments decline 60% in Feb with no mega deals: Report
No major deals above the value of $300 mn happened last month, causing the decline from January, which registered deals worth $3.5 bn, according to an EY report.
Slapped with notices for 'diverting' Rs 840 crore in Greater Noida, builders cry foul
YEIDA has directed the eight builders to open escrow accounts and deposit the amounts allegedly diverted within a month.
Logix develops Rs 600-crore project in Noida,to earn Rs 80crore rent per year
Realty firm Logix has developed a mixed-use project comprising a 6 lakh sq ft shopping mall in Noida at an investment of Rs 600 crore.
ATS group forms JV with Logix to develop new project at Noida
Realty firms ATS Infrastructure has formed a joint venture with another developer Logix group to develop a mixed-use project in Noida.
Budget 2016: Government emphasises on various reforms to boost job creation
Experts say, the Budget focuses on various reforms in order to lift growth and this in turn would help in creating more jobs.
ATS group buys 125 acre in Noida for about Rs 1,300 cr
Realty firm ATS Infrastructure has purchased 125 acres of land in Noida for about Rs 1,300 crore to develop a housing project and a cricket stadium.
ATS, Logix form joint venture to build housing project; raise Rs 130 crore
The joint venture plans to develop 9-hole golf course and 100 villas in the first phase and then later would build high-rise apartments.
Noida builders unable to hand over completed homes as National Green Tribunal stops delivery
Developers in Noida say they have in past 7 months since tribunal's order lost close to Rs 1K cr as they have been holding on flats, paying interest on their loans & penalty to home buyers.
Brys Group gives Rs 330 crore construction contract to UAE's ACC
Brys Group is developing a super luxury project on Noida Expressway which is spread over 7.5 acres and comprises 291 flats at an investment of about Rs 850 crore.
Illegal sand mining: Durga Shakti Nagpal episode may push up house prices by upto 10%
The acute shortage of the material that makes for about 10-15% of the cost in any housing project could delay an array of projects under construction.
Citi Property to make an exit as Logix sells Noida buildings to IL&FS Investment
Logix Group is selling four office buildings in Noida to IL&FS Investment Managers, the only listed private equity fund in India, for Rs 600 crore.
Real-estate firms build brand image by hiring executives, business heads
The real estate business in India has grown manifold in recent times, and companies have also increased their scale of operations.
Dip in FDI may hit real estate industry
The realty sector will face significant shortage of homes for the middle and average middle-income group.
Developers using 'leisure home' concept to lure buyers
You can learn horse riding, or engage in fishing or even butterfly breeding, he says, pitching his project above competition.
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