28 February 2020

Table of Contents for Ticker Tapes

Ticker Tape- Construction



Oberoi Realty has tied up Singapore-based architects, HB Design for two of its new developments Eternia and Enigma in Mumbai’s central suburb of Mulund. While Eternia will comprise two premium high-rises on a plot of approximately 9 acres with apartments of 3 BHK configurations Enigma will be developed on another similar-sized plot of 9 acres in the same area. Eternia comprises approximately 1100 plus units while Enigma will have approximately 600 plus units.






The Union Urban Development Ministry has set a target to streamline approvals for construction works including real estate projects in urban areas in 30 days. Towards this end it has directed the Brihanmumbai Municipal Corporation (BMC) and South Delhi Municipal Corporation to pioneer an automatic online mechanism to sanction all approvals in 30 days so that all other urban local bodies from around the country can follow the model.






Mumbai based developer Hiranandani Constructions has acquired a 30-acre land in Ahmedabad for about Rs 1000 crore and has plans to develop a mixed-use project. The land parcel is near Sanathal junction on SG highway. Construction of the project which will include an IT park and a financial services' hub is expected to start from March.The project will be funded through internal accruals and institutional funding after the commencement of work it is reported.






L&T’s construction arm has received orders worth `4006 Crore. This includes a major order from a reputed customer in Odisha for the construction of 48 km of railway lines for the transportation of coal from coal mines for their thermal power station. The scope of work also includes building a water pipeline along the railway line. Besides this a road project on EPC mode has also been bagged from National Highways Authority of India (NHAI) for the development and up-gradation of the Bijapur-Gulbarga-Homnabad section of NH-218 in Karnataka. On the water business side the company has received order from National Mineral Development Corporation Limited for the construction of an earthen reservoir, a raw water pump house, a water treatment plant and a distribution system for their integrated steel plant at Nagarnar, Chattisgarh.






Metrorail Express for Gandhinagar and Ahmedabad (MEGA) is planning to begin work on the elevated corridor from Vastral to Apparel Park in Maninagar. The tender for construction of the elevated corridor is expected to be finalised shortly. Work on the east-west corridor from Thaltej to Vastral and north-south corridor from APMC to Motera will be taken up in four phases. The first will be Vastral to Apparel Park, the second from Thaltej to Saraspur and the third will be the underground corridor connecting Saraspur and Apparel Park, it is reported.






Puravankara Projects has entered into a joint development agreement to develop a 2-acre land parcel owned by Maharashtra Steel Rolling Mills in Bhandup suburb of Mumbai. The company is planning to develop a residential project, which marks Puravankara's re-entry into Mumbai. This joint development of Puravankara is the second project in the State of Maharashtra. The company had last year announced the acquisition of 30 acres of prime residential land in the Mudhwa area of Pune, in association with Pune based Oxford Group and Mumbai based Ekta World.






Cement manufacturing major, Ultratech Cement has announced plans to set up two Greenfield grinding units in Bihar and West Bengal in the wake of its takeover of two plants owned by the Jaypee Group. It will also build a bulk terminal in Maharashtra and increase capacity at its existing plant in Rajasthan. Ultratech has an installed capacity of 62 million tonnes per annum (mtpa) of grey cement. It has 12 integrated plants, one clinker plant, 16 grinding units and six bulk terminals. With the Jaypee acquisition last month, its cement capacity in India will increase to nearly 67 mtpa. The capacity will stand raised to 71 mtpa by 2016 once projects under implementation are completed.






The `14,000 crore Navi Mumbai International Airport (NMIA) project has received bids from four companies. In response to its Request for Qualification (RFQ), the City and Industrial Development Corporation (CIDCO) has received applications from GMR Airports, a consortium of Hiranandani Group and Zurich Airport in Switzerland, MIA Infrastructure Pvt. Ltd and Mumbai International Airports Pvt Ltd (MIAL), the operator of Mumbai’s Chhatrapati Shivaji International Airport.  The list of prequalified applicants will be finalised by the end of March based on their technical, financial and operations capacity, it is reported






Maharashtra Tourism Development Corporation (MTDC) is expected to host the country’s first sea-world project in the Sindhudurg district of Maharashtra. The government has already asked MTDC to start acquisition of 350 acres of land to create the water-theme amusement park, oceanarium, underwater tunnels, crafts and arts centre and a few tourist resorts. The project, along the lines of the US-based chain of water-theme amusement parks, was approved by the Congress-NCP regime in 2009, but was not yet implemented.





Kolkata based realty firm Infinity group is planning to invest up to `1,000 crore over the next five years to build a residential project at Vrindavan The Krishna Bhumi project will come on a 40 acre land, located along side the upcoming world's tallest temple 'Vrindavan Chandrodaya Mandir' which will be 700 ft high, it is learnt. The project will comprise about 2,000 units and 140 villas Infinity Group has so far completed development of 7 million sq ft of IT Parks in Kolkata.






Construction will soon begin on the `15 billion Indian Neutrino Observatory (INO) at Pottipuram in Tamil Nadu. Originally planned to be complete by 2012, INO has been in limbo for a number of years following objections by environmentalists. The observatory will be built some 1.3 km underground, accessible via a 2 km-long tunnel. It is reported the lab will comprise three caverns, the largest being 132 m long, 26 m wide and 30 m high, which will house a 50,000 tonne Iron Calorimeter (ICAL) neutrino detector. The detector will consist of alternate layers of some 30,000 "resistive plate chambers" and iron plates.





Brick Eagle, a financial services platform for the affordable housing industry, has forayed into real estate development, incorporating a new venture Olympeo Infrastructure. The company has announced the launch of its first project Olympeo Riverside, an integrated township spread across 25 acres on the banks of Ulhas River, in the Neral-Karjat belt, an extended Mumbai suburb. Olympeo Riverside is expected to generate revenues of over `300 crore. The master plan for the project involving more than 1500 homes has been designed by renowned architect Hafeez Contractor.






Mumbai-based Lodha Group has reopened bookings in its luxury residential project World One. The apartments are being priced at `70,000 per sq ft on carpet area for apartments sized 2,500-3,500 sq ft. The project located in central Mumbai, close to the upmarket Worli, was initially launched in late 2010 but the bookings were stopped in end 2011. The entire project called World Towers will have three towers – World One, World Crest and World View.






The real estate development arm of Godrej Group, Godrej Properties has come up with a new phase of its project, Godrej Platinum, at Vikhroli.  It is reported the development will have a mixed-use character and will have significant amounts of residential, commercial, retail and landscaped spaces. The firm is also developing a 35 acre mixed-use development in Vikhroli called The Trees. Godrej Properties is currently developing residential, commercial and township projects spread across 9.7 million square metres in 12 cities.






Work on the Bhendi Bazaar Cluster Redevelopment Project, undertaken by the Saifee Burhani Upliftment Trust (SBUT) is expected to soon begin with the receipt of IOD approval from the Brihanmumbai Municipal Corporation (BMC). The next is acquiring the commencement certificate (CC), for which the developer has to submit the required documents. The `4000 crore project intends to rehabilitate 3200 families and 1250 business which are currently living in poor conditions. Currently, more than 60 dilapidated buildings in the Bhendi Bazaar zone have been demolished. Over 1,600 families have been vacated, with a majority of them opting for residential transit homes. The project comprises 3,200 homes and 1,250 businesses in 250 existing buildings, where 20,000 people are living.






Square Yards Consulting Pvt. Ltd. has made its foray in the Indian real estate market. The real estate advisory firm currently enjoys monopoly in International project marketing segment and has the largest market share in UAE, Singapore, UK, Hong Kong and USA NRI markets. The company is further planning to invest $25 million in the next 12 months along with expanding its presence in 10 countries and 25 Indian cities by signing up over 2000 employees across geographies. It has partnered with over 500 tier A developers including L&T Realty, TATA Housing, Lodha, Hiranandani, Mantri, DLF, Vatika, Rustomjee, Adani and is on track to operate at a global network and tap across borders real estate opportunities.






Pimpri Chinchwad New Township Development Authority (PCNTDA) has unveiled plans to t construct 792 low-cost affordable houses this year. The project will come up on a 4.5 hectare plot in Walhekarwadi. The flats will be of two sizes - 280 sqft and 390 sqft. PCNTDA proposes to construct the houses in two phases. The authority has obtained permission to construct 150 houses per hectare as per norms but intends to construct 250 houses, it is reported.




Leave a Comment

Email Address
(will not be published)