Daily interesting real estate news

Nagpur civic body's operator starts collecting construction waste

Nagpur Municipal Corporation’s (NMC) private operator has started to collect and transport construction and demolition (C&D) waste dumped across the city to Bhandewadi dumping yard. The operator — Hyderabad C&D Waste Pvt Ltd — has conducted a survey and started to lift C&D waste from areas in Laxmi Nagar Zone. The NMC has provided 5 acre land to the operator for setting up the recycling plant, storage etc.

Many IT buildings stand on stormwater drains: Karnataka minister

Urban development minister Byrathi Basavaraj said several buildings housing IT companies are built on stormwater drains. The problem of flooding is more in areas where many IT companies are located. This is because these buildings are built on SWDs, which obstruct free flow of rainwater. The irony is owners of these buildings are venting their ire against the government.

Lucknow, nearby areas to be developed as Uttar Pradesh state capital region

Chief minister Yogi Adityanath giving directions to authorities to prepare a proposal on this at the earliest. In a meeting with senior officials of the housing and urban planning department, Awas Vikas Parishad and all urban development authorities, the CM said that this area should include places like Unnao, Sitapur, Rae Bareli, Barabanki, Kanpur Nagar and Kanpur Dehat.

Base map for third master plan for Chennai yet to be prepared

The Chennai Metropolitan Development Authority, which is preparing the third master plan for the city with 2026 as the deadline. The map, which will include information about the various zones, water bodies, roads, residential colonies, commercial establishments and other infrastructure, will help prepare the land-use plan and formulate strategies for the Chennai Metropolitan Area (CMA) area for the next few decades.

Nagpur development body collects Rs 1 crore from EWS for PMAY registration

The Nagpur Metropolitan Region Development Authority (NMRDA) has recovered non-refundable registration fees of Rs2,000 from over 5,000 people of economic weaker section (EWS) under Central government’s Pradhan Mantri Awas Yojana (PMAY) even as a private bank — IndusInd Bank — had conducted the entire process free of cost. Alleging injustice towards poor people, former mayor Dayashankar Tiwari has pointed out this yet another major flaw in auction of flats by NMRDA.

Lodha Group repays offshore bonds worth $55 million ahead of scheduled maturity

Realty Developer Lodha Group, listed as Macrotech Developers, has repaid its US dollar bonds worth $55 million or over Rs 438 crore in full ahead of six months of its scheduled redemption of this debt in March 2023. The Lodha Group has repaid the bonds worth Rs 438 crore listed on the Singapore Exchange Securities Trading through its wholly owned subsidiary Lodha Developers International Ltd, Mauritius.

Birla Corporation to expand cement production capacity to 30 MTPA by 2030

MP Birla Group firm Birla Corporation plans to increase its cement production capacity by 50 per cent to 30 million tonnes per annum by 2030. ​The company, which has commissioned a greenfield unit at Mukutban, Maharashtra with an investment of Rs 2,744 crore, has plans to set up some new units and expand the production capacity of the existing units. Current production capacity stands at 20 million tonnes.

Morgan Stanley Asia buys ACC shares worth Rs 215 crore

Morgan Stanley Asia bought 9.4 lakh shares of cement manufacturer ACC Ltd for over Rs 215 crore through an open market transaction. ​According to bulk deal data available with the National Stock Exchange (NSE), Morgan Stanley Asia (Singapore) Pte purchased 9,41,557 shares of the company.The shares were acquired at an average price of Rs 2,290 apiece.

Virat Kohli, Anushka Sharma buy eight-acre land in Alibaug to build farmhouse

Cricketer Virat Kohli and his actress wife Anushka Sharma have jointly bought a nearly 8-acre land parcel at Alibaug near Mumbai through two separate transactions for nearly Rs 19.24 crore. Of the registrations that were carried out for two land parcels, the first one measures 2.54 acres, whereas the second land parcel measures 4.91 acres. The couple has paid stamp duty worth Rs 1.15 core for the conclusion of the deal that was registered.

Not a single taker for Ahmedabad civic body rooftop solar panel rebate

The ambitious incentive scheme of the civic body to encourage Amdavadis to install for rooftop solar panels has fallen flat on its face. Till date, just 50 citizens have applied for the rebate scheme and none of these applications have been cleared by the Ahmedabad Municipal Corporation (AMC). The scheme was only open to bungalows, row houses and duplexes.