#RealtyNewsRoundup: Maha Govt To Build Rs 2,000-Cr Complex In Mumbai

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

In the first major construction on salt pan land in Mumbai since the 1991 coastal regulations, a Rs 2,000-crore office-cum-residential complex of the Government of India will come up at Wadala. The 41-acre plot is currently used as a customs godown, known as the Suleman Shah compound. The Central Board of Excise and Customs plans to build two twin towers over the next five years to house 28 offices, 1,700 residential flats for officials of excise, customs and service tax. Read more

Progress on the Smart City Project seems to be moving at a slow pace in Coimbatore. While 17 of the 20 chosen cities have already set up the special purpose vehicle (SPV) under the project, both Coimbatore and Chennai are lagging behind. The SPV, a public limited company that would execute the project and raise funds, will be headed by a chief executive officer. Read more

Piramal Fund Management, the real estate investment arm of Ajay Piramal Group, will invest about Rs 350 crore in an integrated township of the developer and land owner Cornerstone Group. The project, to be spread across 1,000 acre on the outskirts of Bengaluru, will be known as the knowledge city. Read more

The cultural capital of Maharashtra, Pune, has emerged as the best 5-star hotels destination where Indian travellers paid the least in 2015, with an average price of Rs 7,602 a night, says Hotel Price Index (HPI) report by Hotels.com. The HPI is a regular report on hotel prices in major destinations across the world, tracking the movement in prices that people actually paid for their accommodation. The data for this report was drawn from bookings made in hotels on the Hotels.com websites worldwide. Pune was followed by Jaipur in Rajasthan at the second place with an average tariff of Rs 7,844 a night, the survey said. Read more

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