Adani forms key JV to redevelop one of Asia's biggest slums Dharavi
Mumbai: Indian billionaire Gautam Adani's property unit has formed a joint venture with Mumbai's slum rehabilitation authority to redevelop the Dharavi, a key step towards rebuilding one of Asia's biggest slums that is mired in legal controversy.

GG Engineering, Integra Essentia get board approvals to execute merger plan
The board of GG Engineering Ltd has approved a merger plan of the company with Integra Essentia Limited, which is in the steel and renewable energy business. The proposal remains subject to several other necessary approvals, GG Engineering Ltd (GGEL) said in a regulatory filing on September 20.

ITC signs 70-key Welcomhotel resort in Kalimpong
Mumbai: ITC Hotels announced the signing of Welcomhotel Kalimpong resort under a management agreement with Pravez Constructions Private Limited. This 70-key greenfield upper-upscale project, spread over 4 acres will offer plush rooms with spectacular views of the Himalayas and the valley, an all-day dining restaurant, a lounge, a bar, and a speciality restaurant along with ample recreational facilities such as a fitness centre, children’s club, games room, library, and a spa. The picturesque resort shall offer over 15,000 sq. ft. of indoor and outdoor event spaces.

IFC, construction firm Sunteck set up JV for nearly 12K housing units
 

Tax sops, flexible payment plan key influencing factor for prospective homebuyers: Survey
Tax incentives from central as well as state governments and flexible payment plans from builders will motivate prospective homebuyers to buy residential properties, according to a survey by Housing.com and Naredco. Proptech firm Housing.com and realtors' body Naredco on Thursday released their latest survey report titled "Residential Realty Consumer Sentiment Outlook H2 2023 - Trends and Insights". The online survey engaged over a thousand potential homebuyers.

Samakhiyali Tollway to execute highway project in Gujarat at Rs 2,100 crore: IRB
Samakhiyali Tollway Private Limited, a special purpose vehicle of IRB Infrastructure Developers, will execute the Samakhiyali-Santalpur highway project in Gujarat with an outlay of Rs 2,092 crore, according to a statement on Thursday. The project is to be executed on Build Operate and Transfer (BOT) mode, IRB Infrastructure Developers (IRB) said in the statement.

Real estate continues to remain preferred asset class for investment: Survey
Potential homebuyers are optimistic about the economy and their future earnings, which augurs well for driving demand in the property market. Real estate, in fact, continues to be the preferred asset class with 48 per cent of the respondents opining that they would want to invest in property as it is a stable hedge against inflation and is a time-tested wealth-building tool, according to a survey conducted by Housing.com in collaboration with NAREDCO.

Kotak arm invests additional Rs 600 cr in Sify to expand data centre capacity
Kotak Alternate Asset Managers (Kotakalt) on Thursday announced an additional Rs 600 crore investment in Sify Technologies. The investment by Kotak Data Center Fund into Sify Infinit Spaces (SISL), which takes the overall bet by Kotakalt to Rs 1,600 crore, has been deployed for expanding data centre capacity across India and investing in renewable energy, as per a statement.

Ambani's Viacom18 to strike deal with Blackstone for new Mumbai HQ: Sources
Indian billionaire Mukesh Ambani's broadcasting unit Viacom18 is set to sign a lease deal with Blackstone-owned Nucleus Office Parks for its new headquarters in Mumbai, spread over 400,000 square feet, six sources familiar with the matter said.

Pan India warehousing demand outgrows supply by 1.4x in January-June, rents up 10%

The demand for warehousing has outgrown supply by 1.4 times to 13 million sq ft during the first half of 2023, along with average 10% growth in rentals, showed a CREDAI-CRE Matrix study.

Mangalam group to invest Rs 200 crore in a luxury residential project in Jaipur

Rajasthan-based Mangalam group will invest Rs 200 crore in developing a luxury residential project at Jagatpura, Jaipur.

World Bank’s IFC, Sunteck form platform for green urban housing, to invest Rs 750 cr

In a significant move to address the acute affordable housing shortage in India, the World Bank member IFC and realty developer Sunteck Realty are partnering to create a joint platform to promote the development of 12,000 housing units with a total investment of up to Rs 750 crore.

DLF's rental arm DCCDL raises Rs 1,100 cr through issue of debentures

In a regulatory filing on Thursday, DLF informed that the DLF Cyber City Developers Ltd (DCCDL) board has approved the allotment of debentures.

48% respondents prefer real estate investment over other asset class: Survey

Almost half of the respondents of a survey by Housing.com and real estate industry body NAREDCO prefer real estate investment, significantly outperforming other asset classes such as stocks, fixed deposits, and gold.

Ready-to-move-in residential properties outpace demand for under-construction projects: Survey
 

Manglam Group to develop Rs 200-cr luxury housing project in Jaipur
 

‘Expect to be among top cement players, paints biz to turn profitable’
The JSW Group intends to invest 18,000 crore to hike capacity of its cement business to 60 MTPA over the next five years, even as it is readying to raise about3,500-4,000 crore through an IPO. Further, the Group expects to emerge as one of the top cement players in the country with a 10% market share and its paints business to become profitable this year, Parth Jindal, managing director of JSW Cement and JSW Paints, tells FE’s Rajesh Kurup in an interview. Jindal, who is also the founder of JSW Sports and Inspire Institute of Sport, is also exploring the option to take Delhi Capitals IPL cricket team public. Excerpts:

India Cements sells 73.75 acres to UltraTech Cement to improve liquidity
The India Cements Ltd. (ICL) said it had sold 73.75 acres in Vizianagaram district, Andhra Pradesh, for a consideration of ₹70 crore as part of a plan to improve liquidity and to meet a portion of its capital expenditure.

India wins bid to host international conference on cement in 2027
New Delhi: India has won the bid to host the International Congress on the Chemistry of Cement (ICCC) here in 2027, where global leaders, academicians, and professionals would deliberate on progress of research in this sector, an official statement said. The bid was won against UAE and Switzerland.

India Cements hopeful of improving operating performance
Having initiated measures to reduce the variable cost and improve the liquidity position, Chennai-headquartered India Cements is hopeful of significantly improving its operating performance soon.

India Cements ropes in BCG to improve efficiency
Chennai: India Cements is accelerating its efforts to reduce production costs via the modernisation of its factories and improve liquidity through the sale of some portion of its lands. The Chennai-headquartered cement maker has been battling with high production costs, as most of its factories are vintage units. When there is an erosion of margins for the industry in general, with the steep increase in coal prices, the impact is higher for India Cements when compared to its peers as its factories are very old.

CCI approves acquisition of Highways Infrastructure Trust
New Delhi: The Competition Commission of India (CCI) has approved the proposed acquisition of an additional unit holding in Highways Infrastructure Trust by 2452991 Ontario Limited and the acquisition of equity stake in Highway Concessions One Private Limited by 2743298 Ontario Limited.

NHAI ropes in Delhi Metro to design bridges, tunnels in highway projects
New Delhi: NHAI on Wednesday signed an agreement with Delhi Metro Rail Corporation for the review of designs of various bridges, structures and safety aspects of national highway projects and to help improve the skills of NHAI officials.

Indian Railways announces 10X increase in compensation for train accident victims – Take a look at latest revisions
The Railway Board has taken a significant step to increase ex-gratia payments in cases of death or injury resulting from train accidents. This revision marks a tenfold increase from previous levels, signalling a crucial update in the compensation structure. The ex-gratia relief scheme had remained unchanged since its last revision in 2012 and 2013.

Nine Vande Bharat trains to be launched Sunday. Here are all the details about routes, travel time, stops
As many as nine Vande Bharat train services are likely to be started on Sunday. New routes being added include Jaipur-Udaipur, Patna-Howrah, Ranchi-Howrah, Hyderabad-Chennai, Chennai-Tirunelveli, Indore-Jaipur, Puri-Rourkela, Jaipur-Chandigarh, and Jamnagar-Ahmedabad. There are already 25 Vande Bharat Express trains running across the country, and this count will soon increase to 34 after the addition of nine more routes on Sunday.

Vande Bharat Express update: Full trial run for Odisha’s second semi-high speed train underway; to link coastal districts to state’s western region
A full trial run for Odisha’s second Vande Bharat Express was conducted on Wednesday. The Puri-Rourkela Vande Bharat Express train left the Puri station at 5 am to reach Bhubaneswar at 6.05 am and left after five minutes for the journey forward. After brief halts at Cuttack, Dhenkanal, Angul, it reached Sambalpur at 10.15 am. This semi-high speed train was supposed to reach its destination Rourela at 12:45 pm, the officials said.

Taming the Behemoth: The need for a regulator for Indian Railways