#RealtyNewsRoundup: Road Building Pace At All-Time High Of 20 Km A Day, Says Nitin Gadkari
Realty News Roundup is PropGuide's selection of top stories from the real estate sector.
Union Road Transport and Highways Minister Nitin Gadkari recently said the road construction in India had reached an all-time high of 20 kilometres per day. The minister said his ministry would be constructing 25 km of roads per day by the time the NDA government completes two years next month and will reach 30 kilometres a day in another five to six months. Read more
The Centre approved a Rs 1,622-crore highway project in Karnataka under its flagship road-building programme called National Highways Development Project . "The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval to development of the four-laning of the Hospet-Bellary-Karnataka/Andhra Pradesh border section of National Highway 63 in Karnataka," a statement from the Road Transport and Highways Ministry said. Read more
Diversified Group ITC Ltd and Starwood Hotels and Resorts recently extended their existing partnership for 11 ITC Luxury Collection hotels and one hotel under the Sheraton brand. Strengthening their partnership further, the two partners also announced three upcoming ITC hotels under Starwood's 'The Luxury Collection' brand in India, the company said in a statement. The addition of ITC Kohinoor in Hyderabad, ITC Narmada in Ahmedabad and ITC Royal Bengal in Kolkata will take the inventory up to 15 hotels, over the next four years, the statement added. Read more
Luxury hotel chain Hotel Leelaventure plans to sell its five-star property in Chennai for reportedly around Rs 800 crore. The company has appointed JM Financial Institutional Securities as its financial advisor for the sale. The report said the quoted price is not in line with the market valuations. The property, opened in September 2012, comprises 326 rooms and is built on 4.8 acres. Read more