#RealtyNewsRoundup: GIC To Take Up Singh's Family Stake In DLF
The promoters of India's largest real estate company DLF Ltd, K P Singh and his family, plan to sell their 40 per cent stake in DLF Cyber City Developers Ltd to GIC of Singapore to help repay debt. The development was confirmed by Ashok Tyagi, group chief finance officer. The company owns a portfolio of leased commercial assets, including the Cyber City commercial complex in Gurgaon.
Cooperative institutions, including nearly 75,000 housing societies in the Mumbai metropolitan region, have to share their records under the Right To Information (RTI) Act with the Aurangabad bench of the Bombay high court ruling that these establishments come under the purview of the transparency legislation.
Giving smart city development a strong push, MP finance minister Jayant Malaiya allocated Rs 700 crore for the ambitious project. Unlike last fiscal, no provision was made for Metro rail project. Under the smart cities project, area-based development at a 354-acres site at North TT Nagar in Bhopal is expected to take shape soon.
In perhaps the first of its kind initiative in the country, the Telangana government has taken up construction of office-cum-residence for MLAs in 104 of the 119 Assembly constituencies in the state. The construction of the office-cum-residence, with an estimated cost of Rs 1 crore per unit, has already begun in 65 constituencies.