#RealtyNewsRoundup: BMC To Hand Over Open Spaces To Residents For Maintenance
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Realty News Roundup is PropGuide's selection of the day's top stories from the real estate sector.
The Brihanmumbai Municipal Corporation has decided to give back open spaces to the citizen bodies for maintenance. The civic body faced a lot of flak for its controversial policy where contractors were hired for the job. According to the new policy to be tabled before the civic leaders, more than 100 organisations from whom the BMC had taken back gardens like Horniman Circle and Colaba Woods, can once again maintain the open spaces if they agree to the conditions set by the civic body.
The Confederation of Real Estate Developers Association of India (Credai) will hold 'Punji 2016', a three-day property exhibition in Nashik where around 100 residential projects with close to 2,500 flats will be showcased.
Infrastructure major Larsen and Toubro (L&T) has bagged orders worth Rs 2,046 crore across various business segments. In a Bombay Stock Exchange filing, the company said its power transmission and distribution business has received order worth Rs 826 crore while its heavy civil infrastructure business vertical has secured an order worth Rs 675 crore. The building and factories business also won a residential project worth Rs 434 crore and its transport infrastructure received Rs 111-crore business orders.
The Signature Bridge near Wazirabad in the national capital will finally be completed in April 2017. Conceptualised in 2004, the project has seen its deadline extended numerous times. The bridge will be an essential link between east and north Delhi. The delays have shot up its estimated cost from Rs 887 crore to Rs 1,594 crore.