#RealtyNewsRoundUp: Investments Of Over Rs 4 Lakh Cr Attracted On UP Investors' Summit Day 1

Uttar Pradesh has signed 1,045 pacts worth Rs 4.28 lakh crore on the first day of the UP investors' summit, Chief Minister Yogi Adityanath has said. Stressing that the state was providing basic needs for investments such as law and order, infrastructure, power and roads, the CM said he would ensure an administrative setup which would be transparent and answerable. As the CM aims to improve regional connectivity, his state would see districts and tourism points getting better road infrastructure in the days to come. Pacts have also been signed to connect the Purvanchal and the Bundelkhand expressways with state’s industrial corridors.

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The Bombay High Court has restrained the Brihanmumbai Municipal Corporation (BMC) from deciding on any pending applications for felling trees anywhere in the city until further orders. The HC, however, permitted the BMC commissioner to make an exception and consider such applications only in cases of "extreme emergency" that involved threats of loss to human life or property.

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Bengaluru-based Shriram Properties is looking at stressed assets in the real estate sector as part of its growth plans, besides interests in affordable and mid-housing projects. Managind Director of Shriram Properties M Murali said the company was eager for a buy-out of stressed assets in real estate, especially in the southern states of India.

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The Supreme Court has asked embattled real estate firm Amrapali Group to furnish details of 47 residential towers, which are nearing completion. The company has to also give details about the funds which have been frozen after the start of insolvency proceedings against it. Earlier, the company had sought the court’s permission to rope in other builders to complete its various housing projects.

Source: Media reports