India Land Deals
 

 

Land deals

Dharavi project gets a move on

Hindustan Times

From June 1, companies from 16 countries will bid for the contract that will create Mumbai's biggest construction site, the Rs 9,250-crore project to transform Dharavi, Asia's largest slum. Home to about 60,000 families, the biggest shantytown on the continent is a 535-acre sprawl, almost 12 times bigger than Nariman Point. The annual turnover of the industrial base alone in Dharavi is more than Rs 4,000 crore. Maharashtra Chief Minister Vilasrao Deshmukh gave the final green signal for the bidding to begin for the mammoth project. Global Expression of Interest (EOI) will be published in major newspapers in countries like the US, the UK, Canada, Dubai, Japan, China, Singapore and, of course, India, to name a few.

50.39 acres auctioned for Rs.18.95 crore

The Hindu

As much as 50.39 acres of Bangalore land were auctioned for Rs. 18.95 crore with 10 out of 11 blocks of land fetching less than the price expected by the Government. With the Government hoping to get at least Rs. 1 crore per acre of land, bidders failed to match the expectations though the bids were slightly more than the guidance value.

DDA plot sale draws a blank

The Indian Express

The Delhi Development Authority, which had managed to sell only, three plots out of 10 on offer yesterday, fared even worse today as none of its nine plots found any takers. The auction, which began at 10:30 am, got over in a couple of hours as none of the prospective buyers evinced any interest. Of the three plots in Dwarka, the one with lowest reserve price was a plot in Sector-10, which had a reserve price of Rs 188.83 crore. The other two plots, where the land use specifications allowed the construction of a general commercial complex including a multiplex, had reserve prices of Rs 564.18 crore and Rs 489 crore respectively.

DDA now mulls tender, joint venture for hotel plots

The Pioneer

A year after it took aggressively to auctioning of its commercial and residential properties, DDA is now faced with a dilemma of vanishing buyers. Till a few months ago agency's properties sold like hot cakes owing to a buoyant market, the story is different today. Alarmed over this no-show, the agency is now mulling other options for property disposal including a tender system. Joint ventures are also being looked into closely.

Kharghar plots go for record price

DNA

Two tenders of Kharghar plots that opened yesterday were awarded to Shah Group at a rate of Rs 1 lakh and Rs 91,000 respectively. The open plots; a commercial-cum-residential property opposite Raghunath Vihar is expected to be developed into the largest mall along with the first 

seven star hotel of Navi Mumbai. The plots of 7014.87 sq meters and 7013.51 sq. meters, were awarded at Rs 91,000 and Rs 1, 01,000 per sq meter respectively.

Reliance Realty

the Economic Times

After purchasing a huge tract of land owned at the Central suburb of Kurla a few years ago, the Mukesh Ambani led Reliance is understood to have purchased several acres of land in neighbouring Ghatkopar from Sterlite Industries.

 

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