#RealtyNewsRoundup: Modi Launches Projects Worth Rs 2,980 Cr In Agra

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Prime Minister Narendra Modi on January 9 launched civic projects worth Rs 2,980 crore in Agra. Apart from launching the Gangajal project for better water supply, the PM also laid the foundation stone for an Integrated Command and Control Centre for the Agra Smart City project. The smart city project is meant to develop this city as a modern world-class city.

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Proving major relief to the lessees of Mumbai’s Bandra-Kurla Complex, the Income-Tax Appellate Tribunal has ruled that the lease premium, which is a one-time charge a company has to pay upfront to acquire long-term lease rights, will not attract tax-deducted at source (TDS) . A large number of companies have been operating from the BKC by entering into long-term lease agreements with the Mumbai Metropolitan Regional Development Authority.

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The Lucknow Metro on January 9 successfully completed a trial run on the remaining section of its north-south corridor, and may become operational by February. The 23-km stretch will have 21 stations will reduce the travel time between Munshipulia and the Lucknow Airport to 40 minutes from the current 90 minutes.

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Construction major Shapoorji Pallonji’s real estate arm has forayed into the National Capital Region market, with the launch of its first project in Gurgaon. The project, being launched under its housing banner Joyville, will be developed on an 18-acre land parcel in Gurgaon’s Sector 102, with an investment of Rs 1,200 crore.

Source: Media reports