DLF Ltd, India’s top listed realty firm, has won a deal to develop 350.7 acres of prime real estate at Gurgaon in Haryana. In fact, the company has emerged as the only qualified bidder after two others, Unitech and Bharti Realty, were disqualified on technical grounds by the Haryana Industrial and Infrastructure Development Corporation.

Confirming the development, Rajiv Arora, managing director of Haryana State Industrial and Infrastructure Development Corp, told Dow Jones Newswires, “DLF bid at Rs12,000 per sq m against the reserve price of Rs11,978 per sq m.” The total value of the deal is estimated at Rs1,750 crore.

The project is located at Wazirabad village on Gurgaon-Faridabad road. It involves acquisition of agricultural land for commercial, residential, and leisure purposes, including an 18-hole golf course. Although Gurgaon is technically located in the state of Haryana, it is generally regarded as an extended suburb of Delhi.

More : domain-b.com

Indias largest real estate developer DLF has came forth as the exclusive bidder for 350.71 acres of land in Gurgaon close to the South Delhi for the development of a recreation and leisure project including a golf course.

Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) disqualified other two bidders on technical reasons.

The land deal would be the largest since March 2008 with an appropriate price of Rs 1,700 crore, when BPTP outbid DLF to win land worth Rs 5,000 crore in Noida near Delhi, but eventually it was cancelled.

More : stockwatch.in

In an indication that the real estate sector might be getting out of bad times, DLF on Tuesday clinched a deal for a 350-acre plot in Gurgaon at Rs 1,900 crore, much above the reserve price of Rs 1,700 crore.

The developer will have to pay the amount over seven years to the auctioneer, HSIIDC (Haryana State Industrial & Infrastructure Development Corporation). The deal was announced at an auction in Panchkula, near Chandigarh.

The other two bidders, Unitech and Bharti Realty (the real estate arm of Bharti Enterprises), were disqualified on technical grounds. Their quotations were much higher than DLF’s. Bharti had quoted Rs 2,500 crore and Unitech Rs 2,400 crore. They were disqualified as they did not have the mandatory 10- year experience in managing a golf course.

More : mydigitalfc.com

The time is ripe to strike. For, if you wait till Diwali, your housing dreams could well send your budget awry. At least, this is what most real estate experts in the city believe. And they have good reasons too.

First, an anxious city has been waiting and watching the market to grow for just too long. And now there is substantial number of residential projects ready for the citizens.

Second, the builder himself having reached the threshold of his holding capacity has now reached a point where he wants his investments to yield return. And third, a fall out of the two combinations puts the buyer in a perfect position to bargain for an additional furnishing or a parking lot or a discount for himself.

More : timesofindia.indiatimes.com

For almost a decade, the Delhi Police has been waiting for the High Court to decide if 60 acres of land allotted to build houses for 5,000 policemen is a water body or just sewage water.

The area in question lies at Dhirpur village in north-west Delhi, handed over to the police by the Municipal Corporation of Delhi (MCD) in 1995 for the purpose. The first mention of the tract is found in the revenue annals dated November 23, 1911, under the name of “Makbooja Military Grass Farm”. It was then valued at Rs 15 to Rs 20 per acre and described as a “low-lying land, forming part of a brackish marsh and unfit for cultivation”.

Since 2000, the Delhi High Court has been hearing a petition that claims the tract is a water body and any construction on it is illegal. In July 2008, the court stayed an order passed by the Delhi Chief Secretary that declared that the marsh cannot be termed a water body and should be used as per Masterplan 2021.

More : expressindia.com

LF and Unitech, the country’s top two real estate firms, are understood to have bid for a 350-acre plot in Gurgaon with a reserve price of about Rs 1,700 crore.

According to sources, DLF and Unitech today bid for the land meant for setting up recreation and leisure project, comprising commercial, residential and sports complexes.

The bids were invited by Haryana State Industrial and Infrastructure Development Corporation (HSIIDC). This is the second time the bids were invited.

More : economictimes.indiatimes.com

Enthused by the robust demand for its affordable housing projects, realty major Unitech today said it would invest Rs 600 crore to develop 5,000 such units in seven cities across India.

Unitech would launch affordable housing projects in seven cities this week. The projects would come up under Uni Homes brand at an affordable price range of Rs 10-30 lakh.

The projects would come up at Noida, Greater-Noida, Chennai, Kolkata, Rewari, Bhopal and Mohali.

More : business-standard.com

The government on Tuesday allowed Maytas Ventures — promoted by relatives of scam-tainted former CEO of Satyam B Ramalinga Raju — to give up its bio-tech SEZ in Hyderabad. No decision, however, was taken on RIL’s request of getting a two-year extension for completing the process of acquiring land for its multi-product zone at Gurgaon.

The board of approval (BoA) for SEZs — a group of senior government officials which approves new SEZ proposals and various related activities — also gave its approval to three new proposals that includes Brooke Bond real estate’s proposal of setting up an IT/ITES SEZ in Karnataka. The other two approved proposals are for setting up an electronics hardware & ITES SEZ by Karnataka State Electronics Development Corporation and a solar SEZ in Orissa to be developed by Lanco Solar at Ramdaspur in Cuttak.

The board decided to enlarge the list of default operations — activities for which developers are allowed to get approvals from their zonal authorities and skip the long-drawn process of getting it vetted from the BoA. The additional activities for which the relaxation is being considered include setting up of play zones, bus bays, effluent treatment plants and pipelines and Wi-Fi, Wi-Max services

More : economictimes.indiatimes.com

There was a time when her word used to be final in Jaipur. But at the fag end of her life, Rajmata Gayatri Devi, the erstwhile queen, hardly had any power to even check trespassers on her property.

The Rajasthan government was not the only one to seize the former ruler’s vast properties in the city. Even common men found it convenient to have an illegal share.

Encroachments on land at the foot-hills of the Moti Doongri fort in the heart of the city are a telling testimony to her helplessness. People allegedly connected to the land mafia have been gradually and secretly occupying the over 60,000 sq yards of land around the fort that was gifted to Gayatri Devi by her husband Sawai Man Singh II.

More : dnaindia.com

Rajmata Gayatri Devi’s successors will not just inherit her legacy but also her share in various properties, most of which are under litigation. She had been a shareholder in nearly a dozen royal properties in Jaipur and six others outside the city.

As her Will is expected to be made public on August 9, her successors would have to take the legal route before they could acquire her property. The Rajmata had died on July 29, and her two grandchildren, Devraj Singh and Lalitya Kumari are the natural heirs. However, it is possible that in her Will the Rajmata might have given some of her property to other family members as well.

Rajmata had a stake in at least 17 royal properties, but most of them are disputed. Supreme Court has appointed former judge U N Bachawat as the receiver of these properties. These include parts of City Palace, Delhi-based Jaipur House, Jaipur House at Mount Abu, Viman Bhawan at Swai Madhopur.

More : timesofindia.indiatimes.com