#RealtyNewsRoundup: Tata Realty May Buy SBI-Macquarie's Road Assets

Description

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

Tata Realty & Infrastructure is in talks with a private equity fund managed by Australia's Macquarie Group and the State Bank of India to buy two road assets in India. Sources said SBI and Macquarie Infrastructure are looking for potential buyers to sell its Farukhnagar-Jadcherla highway in Andhra Pradesh and Trichy Tollways, a portion of the National Highway-45 which connects Chennai and Trichy. With a total enterprise value of Rs 1,200 crore, the deal is expected to be sealed in a few weeks.

Telangana Chief Minister K Chandrasekhar Rao asked officials in the government to expedite the work to build free two-bed room houses for the poor in the state. The CM said the government would give incentives to companies coming forward to build two-bed room houses.

With the defence ministry giving a formal no-objection certificate, the Jewar International Airport in Gautam Budh Nagar may start operations soon. 

Union Ministers M Venkaiah Naidu and Uma Bharti jointly launched Smart Ganga City programme in 10 cities located along the Ganga to set up sewage treatment plants (STPs) . The scheme also aims to improve the drainage network on public-private partnership basis. In the first phase, the programme will be launched in Haridwar, Rishikesh, Mathura, Varanasi, Kanpur, Allahabad, Lucknow, Patna, Sahibganj and Barrackpore.

Source: Media reports