#RealtyNewsRoundup: West Bengal To Acquire Idle Land Lying With Defunct PSUs

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

The West Bengal government is all set to unlock the land lying idle with the ailing and closed state public sector undertakings (PSUs). The move follows criticism from industry lobby groups about non-availability of land for industrial purposes. The state has started identifying land in at least 16 state PSUs, including Kalyani Spinning Mill and West Bengal Leather Industries Development Corporation.

Godrej Properties is planning to buy a land parcel in Gurgaon from real estate developer BPTP. The 20-acre land along the Dwarka Expressway is valued at around Rs 350 crore. The company will use the land for project development.

Real estate major Unitech Ltd's sales bookings doubled to Rs 362 crore during the quarter ended June 30, compared with the year-ago period. The company sold 2 million sq ft of area for Rs 362 crore as compared to 0.23 million sq ft area which was sold for Rs 178 crore in the corresponding period of the previous financial year. The bulk of the sales bookings was achieved in Gurgaon at Rs 306 crore.

Late superstar Rajesh Khanna's daughter and former Bollywood actress Rinke Khanna has bought a five-bedroom apartment at Bandra-Kurla Complex in Mumbai for Rs 26 crore. The apartment, with a carpet area of 3,000 sq ft, is located at Signia Isles project of Sunteck Realty. Bollywood actresses Aishwarya Rai Bachchan also bought a 5,000-sq ft apartment for Rs 21 crore in the same project last year.

Source: Media reports