#RealtyNewsRoundup: SPR Group To Come Up With 63-Acre Integrated Township In Chennai

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

In one of the biggest land deals in Chennai, real estate developer SPR Group has joined hands with Binny Mills to develop a massive integrated township spread over 63 acres at Perambur in the city at a cost of Rs 10,000 crore. The project, which will have residential, commercial and wholesale facilities, is expected to be launched next month.

Bengaluru-based commercial real estate developer RMZ Corp will tie up with Qatar Investment Authority to buy development assets across top cities in the country. The two partners plan to raise $500 million to acquire commercial spaces of over 5 lakh square feet across Bengaluru, Hyderabad, Chennai, NCR and Pune.

Indiabulls Housing Finance raised about Rs 1,300 crore or $200 million by selling masala bonds to overseas investors, marking the second such unrated sale after HDFC Ltd. A part of the proceeds will be used for affordable housing.

The 2016 World Cities Report issued by the UN's department of economic and social affairs puts Delhi NCR as the second most populous city in the world till 2030, adding a staggering 9.6 million people to its population. In another two decades, Hyderabad and Ahmedabad will join Mumbai, Kolkata, Bengaluru and Chennai as their respective populations too would cross 10 million.

Source: Media reports