#RealtyNewsRoundup: Bengaluru Civic Body To Widen City Roads
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Realty News Roundup is PropGuide's selection of top stories from the real estate sector.
The Bruhat Bengaluru Mahanagara Palike (BBMP) will revise the transferable development rights (TDR) to urge property owners in the city to give up their land for the widening of roads. As the TDR rates are low in the city, property owners are not willing to give up their lands. The MC plans to revise the TDR rates to encourage property owners to sell their land. Read more.
Larsen & Toubro's (L&T) construction arm has won job orders worth Rs 3,598 crore across various business segments. This was disclosed by the company in its Bombay Stock Exchange (BSE) filing. Among its job orders, the company has grabbed Rs 1,849-crore project by the Irrigation and Command Area Development Department (I&CAD) of the Telangana government. Read more.
Thane Municipal Corporation's (TMC) demolition drive has freed up 75-acre land worth Rs 800 crore. The civic body has cleared nearly 3,000 encroachments in different parts of the city. It is being seen as the biggest demolition drive in the Mumbai Metropolitan Region in the recent past. Read more.
A local company may acquire Lafarge India's assets. The Indian companies shortlisted to acquire Lafarge India's portfolio are Nirma, Ajay Piramal Group and JSW Cement, along its private equity partners Bain Capital and CVC Capital Partners. Read more.