#RealtyNewsRoundUp: NBCC To Mortgage Amrapali’s Land Parcel To Raise Funds

State-run NBCC, which has been given an approval by the Supreme Court to complete pending projects of insolvency-hit Amrapali Group, would mortgage vacant land parcels owned by the company to raise Rs 2,000 crore. NBCC needs a total of Rs 8,500 crore to complete 16 stuck projects of the relator. The remaining amount, Rs 6,500 crore, would be raised through selling of unsold flats and payments from existing homebuyers.
 
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The Uttar Pradesh government has approved the social impact assessment (SIA) report that contains the details of the land identified for the development of an international airport at Jewar along the 165-km Yamuna Expressway. The state government also gave the green signal for Noida International Airport Limited (NIAL) to work as a special purpose vehicle and supervise the airport development.
 
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The planning body of the Delhi Development Authority (DDA) has approved a proposal for a six-lane flyover in the city that will make a stretch of road signal-free from a section of a national highway to the GT Road. The proposed flyover will make Road Number 56 signal-free, from the National Highway-24 (Ghazipur intersection) to the GT Road (Apsara border).
 
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The Bihar Cabinet has given its approval for constituting Patna Metro Rail Corporation Ltd (PMRCL) as special purpose vehicle (SPV) for implementation of the Metro rail project in the state capital. The Cabinet meeting chaired by Chief Minister Nitish Kumar also approved Rs 2,000 crore as PMRCL authorised capital.
 
Source: Media reports