#RealtyNewsRoundup: Jaypee Seeks Nod To Sell Toll Income To Pare Debt
Realty News Roundup is PropGuide’s selection of top stories from the real estate sector.
Jaypee Infra, the developer of Yamuna Expressway, has sought permission from the Yamuna Expressway Development Authority to securitise and sell the future income from toll collections to reduce its liabilities over Rs 8,212 crore in long-term debt. The board has referred the matter to the state government. Read more
Blackstone Group, GIC of Singapore and Brookfield Asset Management have filed over $1-billion separate bids to acquire a 40 per cent stake in DLF's commercial property unit that owns rent-yielding assets. Read more
Godrej Industries' subsidiary Godrej Agrovet Ltd's board has approved monetisation of its 100-acre land in Bengaluru through joint development with group company, Godrej Properties. At present, Godrej Properties is developing residential, commercial and township projects spread about 120 million sq ft in 12 cities. Read more
Maharashtra has allowed the use of plastic waste, other than black plastic and PVC (polyvinyl chloride), in building asphalt roads in the state. Every 100 kg of tar used to build asphalt roads will have three to six kg of plastic. The move will not only save asphalt but will also help reuse plastic waste to reduce soil pollution. Read more