Realty News Roundup: Unitech Registers Rs 65 Cr Net Loss In Q2; Southern Peripheral Road Work To Resume Soon, Says Minister

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

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Realty major Unitech has reported a consolidated net loss of Rs 65.82 crore for the September quarter on higher finance cost and operational expenses, news agency PTI reported. The company's net loss was Rs 14.69 crore in the year ago period. However, net sales rose to Rs 683.89 crore during second quarter this fiscal from Rs 386.19 crore in the year-ago period. ad more

Haryana PWD Minister Rao Narbir Singh on November 8 said all the hurdles in the way of Southern Peripheral Road (SPR), which has been stalled, have been cleared and soon construction will be resumed, The Times of India reported. He also said that the owners of houses and land coming in the way of SPR will be given alternate plots, the report added.  ad more

To make Lucknow greener, the Municipal Corp (LMC) has partnered with various government and private banks to plants trees in the parks managed by the civic bodies, ET.com reported LMC will plant around 500 saplings around the city.  LMC has around 1,200 parks, of which only 400 are developed. ad more

-based developer Properties Ltd has cut its net debt by 25 per cent to nearly Rs 2,200 crore during the September quarter, news agency PTI reported. This was helped by a big-ticket deal where the developer sold large office space in Mumbai for Rs 1,479 crore. It plans to further reduce the debt by monetising the commercial assets in Mumbai, Kolkata and Chandigarh, its MD & CEO Pirojsha told PTI. ad more