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Gurgaon Real Estate News

Merlin Group to develop sports–themed township in Kolkata with an investment of over Rs 2,000 crore

Kolkata Merlin Group, a Kolkata-based real estate plans to invest over Rs 2000 crore to develop one of the largest sports–themed Greenfield township at Rajarhat- Bishnupur area (Rajarhat Chowmatha, near New Town, Kolkata. Spread over 45 acre the project christened as “RISE - Sports Republic” will comprise 10,000 flats. The first phase of the mammoth township project will be developed on 16 acres of...

Real estate the major driver of Telangana’s gross value added growth since 2014

Hyderabad Telangana’s Gross Value Added (GVA) through service sector grew at a rate of 1.5 to 2 times between 2014-15 and 2020-21 with real estate a major contributor to this growth. Real estate, dwellings and professional services were the main drivers of the services sector, accounting for nearly 35 percent of its GVA in 2020-21 — the state GVA’s single-largest sub-sector.  The GVA of real estate...

Office leasing up 34% in July-Sep in 6 cities; down 1% in Jan-Sep: Colliers

The gross leasing of office space rose 34% year-on-year to 10.3 million square feet during the July-September period in six major cities on higher demand from corporates and coworking operators after the second wave of the COVID pandemic, according to Colliers. The gross leasing stood at 7.7 million square feet in the corresponding period of the last year. Absorption of office space grew by 89% in...

Global solar sector sees 190 percent jump in corporate funding to USD 22.8 billion: Report

The global solar sector, including the Indian market, has witnessed total corporate funding of USD 22.8 billion in the January-September 2021 period, registering a nearly three-fold jump over the previous year, according to a report. Corporate funding includes Venture Capital (VC) funding, public market and debt financing, Mercom Capital Group said in the report on October 18. The total corporate funding...

Central Vista: L&T lowest bidder for construction of 3 buildings of Common Central Secretariat

Delhi/NCR Infrastructure firm Larsen & Toubro Limited on October 18 emerged as the lowest bidder for the construction and maintenance of the first three buildings of the Common Central Secretariat under the Central Vista redevelopment project. According to the Central Public Works Department's bid documents, Larsen & Toubro Limited quoted around Rs 3,141 crore, which is 3.47 percent less than the...

Sterlite Power bags Rs 324-cr transmission project

Sterlite Power on October 18 said it has bagged Nangalbibra-Bongaigaon inter-state power transmission project worth Rs 324 crore. "Sterlite Power, a leading private sector power transmission infrastructure developer and solutions provider, has been awarded the Nangalbibra-Bongaigaon interstate power transmission project worth Rs 324 crore through Tariff-Based Competitive Bidding (TBCB) by virtue of...

Gross NPAs of banks may decline to 6.9% by March 2022: Report

Gross Non-Performing Assets (NPAs) and net NPAs of banks are likely to decline to 6.9-7 percent and 2.2-2.3 percent, respectively, by the end of March 2022 as compared to 7.6 percent and 2.5 percent, respectively, as of March 31, 2021, according to a report by rating agency ICRA. GNPAs and NNPAs stood at 8.6 percent and three percent, respectively, as on March 31, 2020. "The GNPAs and NNPAs are expected...

Axis Bank to waive 12 EMIs on select home loans under festive offer

Private sector lender Axis Bank on October 19 announced waiver of 12 EMIs on select home loan products, and discounts on various online purchases as part of its festival offer. Axis Bank is offering waivers of 12 EMIs on select home loan products and providing on-road finance without any processing fee for two-wheeler customers, it said in a release. For business owners, it will offer several benefits on...

Have no fear, raze illegal constructions: Maharashtra CM to BMC

Mumbai Chief Minister Uddhav Thackeray wants the BMC to rid the city of all illegal constructions and has asked it to work without fear and without succumbing to any pressure. Thackeray held a meeting with BMC officials on October 20 where he directed the administration to take up the issue on a war footing. “We will stand firmly by you. Do not succumb to any pressure. Illegal constructions in the...

Rs 3 crore fine levied on agencies in NCR over construction & demolition waste

Delhi/NCR Special teams in Delhi and NCR states have inspected 6,596 C&D sites, of which 963 sites were found to be non-compliant with various C&D Waste Management Rules and dust mitigation measures, said Commission for Air Quality Management in NCR and Adjoining Areas (CAQM).  An amount of approximately Rs 3 crore has been levied as environmental compensation against the defaulting agencies,...

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