#RealtyNewsRoundup: Malabar Group Debuts In Real Estate Sector
Realty News Roundup is PropGuide’s selection of the day’s top stories from the real estate sector.
Kerala-based Malabar Gold & Diamonds plans to foray into the real estate sector, with Rs 10,000 crore worth commercial and residential projects, to be developed over the next three years. The group, through its realty arm Malabar Developers, currently has a land bank of 200 acres, spread across Kerala, Tamil Nadu and Karnataka.
Country’s biggest public sector bank State Bank of India will raise Rs 5,000 crore to fund infrastructure and affordable housing by issuing long-term infra bonds. The bonds are to be issued on a private placement basis.
Over 50 developers in Gurgaon were issued notices by the Haryana Pollution Control Board and the district administration for breaching dust norms and burning waste in the open. The authorities inspected different areas of the city and issued notices to defaulters for violations such as keeping construction material and dumping debris in the open and waste burning.
The Maharashtra government has signed an agreement with Canada to implement a joint-action plan on giving a leg-up to urban infrastructure in the state. This includes setting up of companies, solutions and financing from the North American country.
Source: Media reports