MONETIZE PRIME LAND PARCELS
Hemant Soren got bail because of the strength of opposition: Sanjay Raut
Shiv Sena (UBT) MP Sanjay Raut criticised PM Narendra Modi for the 2024 Lok Sabha election outcome, stating it was a personal loss for Modi and questioning his leadership. Raut also linked the release of former Jharkhand CM Hemant Soren on bail to Rahul Gandhi's rise in opposition power, alleging political influence on the judiciary and central agencies. Soren was arrested by the ED in a land scam and money laundering case.
Jharkhand HC grants bail to former CM Hemant Soren in land scam case
Former Chief Minister Hemant Soren was granted bail by the Jharkhand High Court on Friday in a money-laundering case connected to an alleged land scam. Soren, 48, had filed a petition seeking bail on May 27. He has consistently denied the charges, attributing them to a political vendetta by the BJP-led Central government.
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.
Long road trip? India may free up 700 hectares of surplus land for resting facilities
The road transport ministry plans to de-notify around 700 hectares of surplus land for wayside amenities and resting facilities for drivers. The proposal aims to allow landowners to reclaim their property and utilize excess land from completed highway projects efficiently. The ministry is finalizing the policy, aligning with PM Narendra Modi's mobility expo promise.
Will an empowered Modi bring back a big-bang reform?
If exit polls are accurate and Prime Minister Narendra Modi returns to power with a strong majority, major economic reforms are expected. This might include revisiting land acquisition laws to facilitate industrial growth. Land reforms are crucial for India's manufacturing ambitions. Digitisation of land records could streamline processes and accelerate development projects.
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.
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Defence Ministry points gun at Godrej's housing project with revenue potential of Rs 7,000 crore in Mumbai
The Defence Ministry has raised objections to a residential project undertaken by Godrej Properties in Mumbai, demanding the suspension of work on the venture. With an estimated revenue potential of Rs 7,000 crore, the project, known as Godrej Reserve, has encountered opposition due to its proximity to the Central Ordnance Depot (COD) complex in Kandivali. Spanning an 18.6-acre land parcel, Godrej Reserve has already seen the launch of approximately 1.91 million sq ft of development.
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.
Oberoi Realty in pact to redevelop 3.2-acre housing society in Mumbai’s Worli
The listed company expects to generate a free sale component of around 6.24 lakh sq ft RERA carpet area from the development and redevelopment of the said land, as per the extant provisions of Development Control & Promotion Regulations (DCPR) for Greater Mumbai, 2034.
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.
Sumadhura Group expands footprint with 40-acre land acquisition in Bengaluru's high-growth corridors
Sumadhura Group, a Bengaluru-based real estate firm, has acquired approximately 40 acres of land worth around Rs 800 crore through a combination of outright purchases and joint development agreements. These parcels, situated in high-growth corridors of Bengaluru, are expected to yield revenue of Rs 6,000 crore.
100-day agenda: Digitisation of land records among key reforms of new government
Centre's priority: digitize land records by 2026 with ₹1,035 crore, part of key land reforms in 100-day agenda. Aims to streamline land acquisition, reduce disputes, and expedite infrastructure projects.
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.
Prestige Estates shares rise over 3% on acquisition of a 21-acre land parcel in Bengaluru
As per Trendlyne data, the average target price of the stock is Rs 1,244, which shows a downside of 4% from the current market prices. The consensus recommendation from 16 analysts for the stock is a 'Buy'.
ED attaches Rs 31-cr worth Ranchi land 'belonging' to Hemant Soren; court takes cognisance of charge sheet
Ranchi, The Enforcement Directorate (ED) has attached land measuring 8.86 acre, allegedly owned by former Jharkhand chief minister Hemant Soren in Ranchi, as part of a money laundering investigation against him and his associates, the federal agency said on Thursday. It had filed a charge sheet against the 48-year-old JMM leader and four others --Bhanu Pratap Prasad, Raj Kumar Pahan, Hilariyas Kachhap and Binod Singh -- on March 30 before a special Prevention of Money Laundering Act (PMLA) court here.
India's top developers buy up land to join Gurugram realty rush
As prices have peaked on prime Golf Course Road and MG Road, developers have shifted their focus to Golf Course Road Extension, Gwal Pahadi, Dwarka Expressway and the Southern Peripheral Road (SPR).
Realty developers acquired total 1,947-acre land valued at Rs 32,203 cr in 2023
The residential real estate market is booming, leading to increased land deals. Realty developers are actively acquiring land to capture sales momentum and build a robust supply pipeline. Land transactions in tier 1 cities, particularly in Mumbai Metropolitan Region (MMR), have significantly increased. Delhi NCR, Bengaluru, and Chennai are also witnessing land acquisitions.
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.
BPTP acquires land in Gurgaon for Rs 87 crore
According to the documents accessed through CRE Matrix, a real estate data analytics firm, the land has been acquired by Countrywide Promoters Pvt Ltd, a subsidiary of BPTP Group and it has paid Rs 6.1 crore as stamp duty for the transaction.
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.
Developers on land acquisition spree on Noida Expressway
“While Noida has always enjoyed excellent infrastructure, it has now become very attractive due to a significant improvement in governance and the law-and-order situation. This has led to a quantum jump in demand for upper-end and luxury residential developments,” said Gaurav Kumar, Managing Director, Capital Markets and Residential Business, CBRE India.
Bafna Motors sells 4-acre plot in Navi Mumbai’s Nerul to Greenscape IT Park
Bafna Motors was liable to pay Rs 129 crore to United Bank of India and Rs 15 crore to Tata Motors Finance Solutions. It approached Greenscape IT Park LLP to repay these loans on its behalf. Greenscape IT Park LLP repaid these dues in August and has now acquired the land parcel. The deal attracted stamp duty of Rs 7.27 crore and was registered on August 28, shows the documents accessed through CRE Matrix.
Macrotech Developers eyes Rs 12k-cr sales revenue from 5 land parcels in MMR, Bengaluru
Realty firm Macrotech Developers Ltd has acquired five land parcels in Mumbai region and Bengaluru during April-June quarter to develop housing projects with a revenue potential of Rs 12,000 crore. Macrotech Developers MD and CEO Abhishek Lodha said the company has added new projects worth Rs 12,000 crore in the first quarter of this fiscal year as against the annual guidance of Rs 17,500 crore.
Godrej Properties emerged as the highest bidder for two land parcels in Gurgaon
Godrej Properties has become the top bidder for two luxury group housing lands across Golf Course Road, Gurugram with a combined potential revenue of approximately Rs 3,100 crore. These two prime projects are spread across an area of 2.76 acres and 5.15 acres, respectively. Golf Course Road is known for its upscale residential and commercial developments, making it a perfect location for further real estate development.
Prestige Estates acquires DB Realty’s south Mumbai land parcel for Rs 704 crore
Further expanding its presence in Mumbai’s luxury space, the Prestige Group is planning to develop two luxury residential towers on this plot overlooking the Queen’s necklace and the Arabian sea.
Birla Estates acquires prime land parcel in South Mumbai’s Malabar Hill
B G H Properties, one of the group companies, recently acquired a bungalow Sunny Ville spread over nearly half an acre land parcel on South Mumbai’s upscale Carmichael Road for over Rs 220 crore and this deal was concluded on April 10.
Urbanrise acquires 96.5 acres of prime Chennai land parcel from Vees Properties
The Chennai based company plans to develop a mega township project in the land area that has a development potential of 13 million sq. ft with an expected revenue of Rs.7,000 crores.
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