#RealtyNewsRoundUp: Jaypee Infra Lenders To Meet On May 7 To Decide On Lakshadweep Bid

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Lenders of Jaypee Infratech will meet on May 7 to consider Lakshadweep’s Rs 7,350-crore bid to acquire the debt-laden firm. Jaypee Infratech is facing insolvency proceedings after it defaulted on loan repayments. 

Meanwhile, the residents of Jaypee Wishtown are struggling with lack of amenities. Apart from the fact that facilities such as swimming pool and playground are still under construction, a power back-up system is also not in place. Making matters worse is the faulty internal pipeline that has caused seepage on the walls of the towers.

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With the Delhi Metro Rail Corporation (DMRC) finding a solution to a land dispute that was holding up the completion of the Pink Line, its longest corridor, work on the entire line is set to start. Work between the Mayur Vihar Phase-1 and Trilokpuri Metro stations was held up as residents of Trilokpuri’s Block 15 objected to relocation. The DMRC is now in the process of getting land to build quarters for all the affected families.

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Real estate developers in Noida who owe money to the city authority and the administration stand to lose their assets with the Gautam Budh Nagar Administration deciding to auction them to recover dues. In a drive that would be launched on May 15, the city administration would also go after individuals and contractors as it attempts to recover dues to the tune of Rs 227 crore.

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The Central government has announced that it will invest Rs 50,000 crore for six proposed airports, including Purandar, Navi Mumbai, Jewar and Mopa airports. Existing airports in Delhi, Bengaluru and Hyderabad would also be upgraded, for which Rs 25,000 crore will be spent in five years. Apart from this, the Airport Authority of India would infuse Rs 20,178 crore in the next foru-five years for development of infrastructure across 21 airports.

Source: Media reports