#RealtyNewsRoundup: DDA To Come Up With Integrated Townships At Dwarka, Rohini and Narela
Realty News Roundup is PropGuide’s selection of daily top stories from the real estate sector.
The Delhi Development Authority (DDA) will develop integrated townships at Dwarka, Rohini and Narela. The agency will develop these areas as high-density mixed-use areas which will have residential, commercial and economic hubs. In this regard, the agency passed a proposal to hire consultants as land in these areas is scattered. According to the DDA, 154 hectares will be developed in Dwarka, 259 hectares in Rohini while 218 hectares of land will be developed in Narela.
To develop luxury housing project across major cities, real estate company Tata Housing is in talks with Australia-based private equity fund Macquarie to set up a joint platform with a capital of about Rs 2,500 crore. The deal is expected to close this month.
In a massive relief for 3,000 homeless families in at Mumbai’s central ordnance depot in Kandivli and Malad, the Maharashtra government will soon lift a ban on redevelopment of housing societies around the depot. In the wake of the Adarsh Housing Society imbroglio, the defence ministry had objected to constructions near such land but now has settled for a 10-metre restriction from the site.
Private equity fund India Value Fund Advisors and Baring Asia will buy ICICI Home Finance for approximately Rs 2,400-2,500 crore. This will end the ICICI Bank’s year-long search to find a new buyer for the business. The deal is estimated to be 1.6 times the value of the book.
Source: Media reports
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