#RealtyNewsRoundUp: Modi To Inaugurate Eastern Peripheral Expressway On May 27
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Prime Minister Narendra Modi will inaugurate two expressways in the national capital region on May 27. The 135-km eastern peripheral expressway and the Delhi-Meerut expressway have been built by the Central government to decongest the capital city and the adjoining areas. The EPE, built at a cost of Rs 11,000 crore, envisages signal-free connectivity between Ghaziabad, Faridabad, Greater Noida and Palwal while the Meerut expressway runs from the Nizammudin Bridge to the Delhi-UP border. The remaining parts of the 96-km expressways are likely to be completed by 2019-2020
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The 25.6-km Janakpuri West-Kalkaji Mandir stretch of the Delhi Metro's Magenta will be inaugurated on May 28 while the passenger services on the segment, which has 16 stations, will begin on May 29 from the Kalkaji Mandir and Janakpuri West stations simultaneously. Union Minister for Housing and Urban Affairs Hardeep Singh Puri and Delhi Chief Minister Arvind Kejriwal will officially inaugurate the corridor on May 28 at the Nehru Enclave Metro Station. With the opening of this stretch, the entire 38.2-km Janakpuri West–Botanical Garden Magenta Line corridor, covering the city's arterial Outer Ring Road, will become operational.
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The Brihanmumbai Municipal Corporation has decided to propose penalty on the premises owners of Worli’s Raghuvanshi Mills where around 16,000 square foot of area has been illegally encroached. The owners will have to pay property tax on the illegal space as well as the penalty of twice this tax. The probe into illegalities at Raghuvanshi Mills began following the Kamala Mills fire tragedy in December last year, in which 14 people died.
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Realty major DLF has reported nearly 72 per cent year-on-year rise in net profit at Rs 244 crore for the quarter ended March. Total income for the quarter declined 26.5 per cent to Rs 1,846 crore. For the year ended March, the company’s consolidated net profit rose to Rs 4,476 crore from Rs 701 crore.
Source: Media reports