#RealtyNewsRoundup: Big Boost For Real Estate In Gurgaon As Kundli-Manesar-Palwal Expressway Opens Up

Realty News Roundup is PropGuide's selection of top stories from the real estate sector.

The opening of Palwal-Manesar stretch of the Kundli-Manesar-Palwal Expressway has come as a shot in the arm of developers in the area who are expecting unprecedented gains due to increased connectivity. The 53-km stretch of the KMP Expressway was inaugurated on Tuesday by Union Transport Minister Nitin Gadkari and Haryana Chief Minister Manohar Lal Khattar. Read more

Godrej Properties' promoters stake in the company has increased by over two per cent to 74.95 per cent at the end of the March quarter. According to the shareholding pattern filed with the Bombay Stock Exchange, the promoters stake in the Godrej Properties has increased due to merger of GIL Vikhroli Real Estate Ltd with Godrej Properties, a wholly-owned subsidiary of Godrej Industries. Read more

Finance Minister Arun Jaitley recently announced that the government planned to develop 25 regional airports to improve connectivity. He said the government was looking to develop 15 airstrips owned by state governments and 10 with the Airports Authority of India. There are around 160 airstrips that are lying unused, he said while talking about the steps taken by the government for infrastructure development in the country. Read more

Non-banking finance company Altico Capital has put in Rs 575 crore in three structured debt transactions with developers in Mumbai, Pune and Bengaluru. The developers will use the money to refinance existing lenders as well as finish projects that are at an advanced stage of completion. The company is also in the process of investing another Rs 600 crore with builders in different cities over the next three months. Read more