Top Indian Infrastructure Industry News & Updates - 26 March 2024,Tuesday
🏢 Industry & SEZ
📝 Bengaluru and Hyderabad drive premium office space leasing activity in January-March
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🏘 Real Estate
Price spike may push up housing inventory
Unsold inventory in residential properties is likely to increase due to a sharp price rise and increase in launches. Housing prices went up sharply by 15-35% in 2023, especially in key markets like National Capital Region (NCR), Hyderabad and Mumbai. Luxury property prices have gone up even more at 20-50%, as per CLSA.
Mahindra Lifespace to invest Rs 6,000 crore in residential business by FY28
The move is to drive its business growth, which is targeted to increase fivefold from Rs 2,268 crore to Rs 8,000 crore in residential business by the financial year 2028. The company is set to come up with a pipeline of projects with a gross development value of Rs 45,000 crore during this time period.
GIC, Blackstone property deal breaks down over pricing
Mumbai: Talks between Singapore’s sovereign wealth fund GIC and global asset manager Blackstone Inc for a property sale broke down over valuation issues as GIC was not prepared to meet the price that Blackstone had on the table. Sources said that both the parties have walked away from the deal as they could not agree on the pricing.
RERA forfeits security deposits of 20 builders for non-compliance with registration norms
Haryana Real Estate Regulatory Authority (RERA) has forfeited security deposits of around Rs 7 crore of 20 city-based builders for non-compliance with registration norms, an official said on Saturday.The real estate promoters had been granted conditional project registration certificates.
📝 Real estate investors turn to lawyers after 'huge' CO₂ shock
📝 'Keep 3 bank A/Cs for each realty project'
📝 Housing.com not actively seeking acquisition, open for interesting opportunities: CEO Dhruv Agarwala
📝 Wadhwa Buildcon promoter's plan declared 'invalid'
📝 MMR developer Squarefeet Group sells 100 units in millennial-focused project
📝 Mercedez Benz research wing expands Bengaluru presence
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🛍 Cement
Dalmia's deal to buy Jaypee Cement assets lingers with arbitration
The closure of the Dalmia-Jaypee deal is being held up by ongoing discussions between lenders to the Jaypee group and the National Asset Reconstruction Company Limited (NARCL), as well as a separate arbitration between Jaiprakash Associates and UltraTech Cement.
Shree Cement launches Bangur Concrete to expand its RMC business
The commissioning of the state-of-the-art unit “aligns with the company’s vision to emerge as a multi-product player’‘ in the core cement business.
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🚙 Roads & Highways
Greater Noida’s traffic solution! Key flyover connecting industrial areas expected to be completed by October – Know project cost and progress
Bringing joy to the commuters in Greater Noida, the Uttar Pradesh State Industrial Development Authority has asked the workers to push to complete the work on a crucial flyover which would connect the industrial area in Greater Noida by October, the officials revealed on Saturday.
Pvt InvITs to get bid rights for highways
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🚃 Railways
Mumbai-Ahmedabad Bullet Train Project: Ashwini Vaishnaw shares big update on status of bullet train project – Here’s what he said
Union Railway Minister Ashwini Vaishnaw on Saturday (March 23) said that India’s first bullet train project – Mumbai-Ahmedabad bullet train is “progressing very well”. The Railway Minister informed that the first corridor of Mumbai to Ahmedabad bullet train project would help in integrating economies.
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