NBCC launches reconstruction of ₹4,525-cr complex in Delhi
In a bid to reduce debt of Air India by ₹4,500 crore through redevelopment of its residential colony in Vasant Vihar areas of Delhi, NBCC has submitted a detailed plan for monetization of the 30-acre space involving an investment of ₹4,525 crore. According to official sources, the total revenue from the project is expected to be ₹7,000 crore. The builder plans to build multiple 14-storey buildings with 1,700 flats, and 960 flats for the economically weaker sections (EWS), besides a school and community facilities in the area. Currently, there are 810 flats in the colony and the 42-metre high building will enable fund generation. The colony will be developed in two phases so that those living there do not have to relocate in one go, said Director - Projects, NBCC, Neelesh Shah. Two years ago, the cash-strapped national carrier had put 111 properties on the block with a cumulative price tag of ₹9,500 crore but managed to sell only 32, raising about ₹1,000 crore. Air India had a debt of ₹59,000 crore of which the government transferred ₹29,400 crore last year to Air India Asset Holdings, a special purpose vehicle (SPV) that caters to the debt and assets of the national carrier.
JK TYRE LAUNCHES NEWEST 23.1-26 SIZE V-COMPACT TYRE AT EXCON 2019
Indian Tyre Industry major and market leader in Truck Bus Radial tyre segment, JK Tyre & Industries launched the new V-Compact R3 tyre at the on-going EXCON 2019 trade show. The 23.1-26 V- Compact R3 has been designed especially for soil
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JAI bags Jewar Airport project and will invest ₹4,500-cr
The state government in Uttar Pradesh has approved a proposal to award the contract for construction and operation of the mega Noida International Greenfield Airport in Jewar, Greater Noida, to Switzerland's Zurich Airport
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DBL wins ₹1,250-cr expressway project in UP
In a recent development in the country's road and highway sector, Dilip Buildcon (DBL) has received letter of acceptance (LoA) for Gorakhpur Link Expressway Project involving an investment of ₹1,250 crore. The scope of work envisages
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Gaur Group goes for ₹750-cr realty projects
In a bid to add to its project portfolio in the realty sector, Gaurs Group has decided to invest ₹750 crore over the next three years to develop commercial projects in Greater Noida. The company will develop 12 lakh sq ft areas
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Hines unveils $500-mn investment plans in India
In a bid to make the most out of the emerging biz avenues in Indian realty sector, the US-based realty firm Hines has decided to invest $ 500 million to develop new commercial and housing projects in the country. The offshore firm
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DMRC goes vertical in Phase-IV of the project
In a major designing shift, the size of the stations coming up under Delhi Metro's Phase IV project, DMRC is contemplating going vertical in creating spaces in existing depots to park trains that will run on the upcoming lines. So far
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GMRCL fast tracks ₹12,020-cr metro in Surat
The construction work on the first phase of a 40.35-km metro rail network in Surat in Gujarat is all set to start very shortly and the entire project is slated to be commissioned in four years at an investment of ₹12,020 crore, said
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Adani led consortium sets to bag ₹8,000-cr HCMTR contract
A consortium comprising Adani, Welspun and China Third Engineering has placed a bid of ₹8,000 crore for the upcoming High Capacity Mass Transit Route (HCMTR) project in Pune. The bid is about 40 per cent higher as compared to the
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Godrej in JV unveils ₹700-cr commercial project
Godrej Group, through its arm, Godrej Fund management (GFM), a real estate private equity player, has entered into a strategic partnership with the Centruy Group of Bengaluru to develop a commercial asset at an investment of ₹700 crore
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AP pushes ₹1,300-cr infrastructure projects
The state government in Andhra Pradesh has launched infrastructure projects worth ₹1,300 crore in the Greater Visakhapatnam Municipal Corporation (GVMC) and Visakhapatnam Metropolitan Region Development Authority (VMRDA), said an official
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Railway approves ₹2,410-cr projects in TN
A staggering sum worth ₹2,410 crore has been allotted to build railway infrastructure including safety measures in Tamil Nadu during the current fiscal, Union railway minister said adding that budget allocation for the same in 2014-19
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Puravankara targets ₹8,000-cr from new realty projects
Real estate building major Puravankara has recently entered the luxury real estate segment under the Purva WorldHome collection brand, targeting a niche demographic of home buyers. The company plans to add 3-4 properties in next
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DDA rebuilding 378 slum clusters in Delhi
The Delhi Development Authority in a recent move has decided to redevelop 378 JJ clusters under the Pradhan Mantri Awas Yojana (urban), Union Housing and Urban Affairs Minister Hardeep Singh Puri said. In this connection, a decision
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Chandigarh gives go ahead to ₹200-cr structure
Chandigarh administration has given green signal to construct a multi-storey hostel in Sector 48, area of the Union Territory involving an investment of ₹200 crore. The building will house 1,495 rooms for doctors, nursing staff and
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AIF achieves first closure at ₹10,530-cr
Special Window for Affordable and Mid-Income Housing Fund (SWAMIH) Investment Fund I, sponsored by the government for providing last-mile funding enabling completion of construction of stalled projects, has achieved its first closing
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JCB India displays newest technological innovations at Excon'19
JCB India, country's leading manufacturer of Earthmoving and Construction Equipment, showcased a wide range of new, smart, technology-driven machines at the 10th edition of Excon'19 in Bengaluru. Riding high on the back of Excon'19
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