#RealtyNewsRoundup: Jaypee Secures Loan Of Rs 1,800 Cr; To Use Funds To Re-Start Noida Project
Construction at Jaypee Wish Town project in Noida is expected to re-start by next week as the developer has received Rs 1,800 crore in working capital from banks. Jaypee said it would release the construction schedule of all the towers by April 29.
The Greater Mohali Area Development Authority is likely to announce the compensation rates for its land acquisition for the mega projects, including for townships in sectors 105, 106, 108, 109 and 110, at Raipur Kalan, Dhol, Maujpur and Bhago Majra villages. The body will be acquiring 44.96 acres of land for the purpose.
The Supreme Court has ordered the auction of Sahara's Aamby Valley property after the trouble-hit company failed to deposit Rs 300 crore to refund its investors. The SC had in August 2012 ordered Sahara to repay over Rs 25,000 crore to investors after it found that two group companies - Sahara Real Estate and Sahara Housing - had illegally collected the sum from three crore investors.
Tata Housing Development Company is venturing into the East African property market with its mixed-use projects in Kenya and Tanzania. These projects will be executed through a partnership with governments and local developers.