Tuesday, June 15, 2021

Table of Contents for Ticker Tape


New PM residence under Central Vista Redevelopment Project to be ready by December 2022- The Total Estimated Project Cost is Rs.13,450 Cr.


Central Vista Redevelopment Project: The Prime Minister’s new residence, which is a part of the Central Vista redevelopment project, is set to be ready by December 2022. The first three buildings of the office complexes that will come up in the place where the Indira Gandhi National Centre for the Arts is located are expected to be completed by May 2023; the Vice President enclave will be completed by May 2022; the SPG by December 2022; the other seven office complexes will be completed between March 2024 and June 2025 while the central conference centre will be completed by December 2026. On April 12, approval was given for the 10 buildings consisting of the office complexes, the 10 buildings which will comprise the residence of the PM, one special protection group building, the conference centre as well as 29 buildings making up the VP’s enclave. Once the buildings become operational, the New Delhi Municipal Council will provide a total of 73,440 KW of power and 7,818 KLD of water. As many as nine sewage treatment plants are proposed under the project for the treatment of waste generated by the whole area. Also, rainwater harvesting tanks of 3050 cu.m capacity will be set up. Currently, the Vista area has a total of 4,642 trees, of which 1,412 shall be retained and 3,230 transplanted. Instead of compensating trees within the Vista area, which will be populated by new buildings along the Rajpath area, the clearance permits for a total of 30,547 trees which will be transplanted as compensation outside the area. However, it does not specify the location. Clearance for this project is not required from state authorities as it falls under the “b” category of Townships and Area Development projects of the Environment Impact Assessment, as the national capital does not have a state EIA authority.



Xanadu forays into Pune, eyes Rs.1,000 crore sales


With more real estate developers outsourcing their sales and marketing functions to experts, Xanadu Realty, a sales and marketing solution provider for real estate companies, has announced its foray into the Pune market after expanding its operations to Bengaluru last year.


The firm has on boarded Kumar Properties and House of Abhinandan Lodha as its clients in the Pune market. The Mumbai-based firm said last year it generated sales of more than Rs. 2,200 crore for its business partners the Mumbai Metropolitan Region (MMR) market and would more than double the sales volume this year through geographical expansion.



LafargeHolcim, IIT Hyderabad collaborate for smart building solutions


LafargeHolcim has partnered up with the Indian Institute of Technology Hyderabad (IITH) to collaborate on development of innovative and smart building solutions.


This new academic collaboration with one of the reputed institutes in India will be implemented through a research project funded by LafargeHolcim Innovation Centre (LHIC), focusing on ‘Standardisation of Smart sensing technology for Continuous Assessment of Internal State and Compressive Strength of Concrete’.


This study will explore smart sensing technology for continuous on-site strength evaluation of a concrete structure that can eventually reduce the time cycle for construction of buildings and infrastructure and also ensure highly accurate real-time strength development.



Sunteck Realty to start development of 2-3 million sq ft in this fiscal


The company is to launch its Naigaon Phase-III and the first phases of projects in Vasai and Vasind during the fiscal.


Sunteck Realty is planning to start development of 2-3 million sq ft of real estate projects in this financial year, in addition to the 5.6 million sq ft under development, expecting a rise in demand in Mumbai Metropolitan Region (MMR). The Mumbai-based firm is planning to launch about 3-4 projects during this fiscal. The company has a total future development potential of over 35 million sq ft in MMR, which includes the acquisition of 9 million sq ft done in 2020. The company intends to launch its Naigaon Phase-III and the first phases of projects in Vasai and Vasind during the current fiscal. Following which, Sunteck Realty would start its Borivali project. The firm will also continue to buy land parcels.



Prestige Estates Projects acquires stake in two partnership firm


Prestige Estates Projects, South India’s leading property developers, has acquired 45% stake in Century Megacity and 55% stake in Century Landmark. The objects and effects of acquisition is to undertake real estate developments. The acquisition is completed on Apr. 15, 2021.


Century Megacity is a partnership firm holding land parcels in North Bangalore, which will be developed as office space in the near future. Century Landmark is a partnership firm holding land parcels in North Bangalore, which will be developed as office space in the near future.


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