#RealtyNewsRoundup: Huda To Acquire 102 Acres For Central Peripheral Road in Gurgaon

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

The Haryana Urban Development Authority (Huda) has plans to acquire 102 acres of land for Rs 700 crore for the construction of the Central Peripheral Road (CPR). The 3.2-km stretch would connect Dwarka Expressway with the National Highway-8, and significantly reduce the traffic load on the Gurgaon stretch of the highway. The CPR is also likely to boost the real estate in New Gurgaon.

The National Green Tribunal (NGT) has pulled up the Uttar Pradesh government for the manner in which the state government filed its report on the distance of various real estate projects from the Yamuna flood plain zone in Agra. The tribunal appointed a local commissioner and asked him to file a correct position of flood plains. Many developers in Agra are suffering losses because of an interim order, banning all commercial activities for the past one year.

Indiabulls Housing Finance Ltd will raise Rs 400 crore by issuing debentures on a private placement basis. In the issue that opens on August 11, the company proposes to issue 4,000 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each.

The Brihanmumbai Municipal Corporation plans to start work on the Goregaon-Mulund Link Road by October. The project, which is expected to be rolled out in three phases at the cost of Rs 1,300 crore, will help reduce traffic congestion in the area.

Source: Media reports