NEW DELHI: Arkade Developers has signed a memorandum of understanding (MoU) to acquire 100% shareholding in Woollen and Textile Industries.
This marks the company’s second acquisition in Bhandup West, Mumbai. The deal involves a land parcel measuring 14,363.60 sq meters, with a total consideration of ₹148 crore.
NEW DELHI: One Prastha Realty, a real estate developer, has secured ₹80 crore in debt financing from Capri Global to support its integrated township project spanning 57 acres in Sonipat, Haryana. The company has successfully completed an 8.5-acre residential project in Sonipat and has now acquired 57 acres of land for a large-scale township development featuring residential plots and villas, as stated in the company announcement on Tuesday. Somesh Mittal, Co-Founder of One Prastha, noted the significant demand for residential plots in the Sonipat area, driven by infrastructure growth and improved connectivity to Delhi and Gurugram. “We see this not…
Realty developer Valor Estate, previously known as DB Realty, has placed the highest bid of ₹771.09 crore for Lavasa Corporation, as part of the ongoing insolvency resolution for the financially troubled hill city project near Pune. This bidding process, conducted under the ‘challenge process’ of the Corporate Insolvency Resolution Process (CIRP), ended on Tuesday. “The highest bidder was determined after an intense series of 10 rounds,” noted an insider. “The committee of creditors (CoC) will continue negotiations with the applicant to optimize the value. Details regarding the timeline for final plan submissions and proof of funding will be provided separately.”…
MUMBAI: The Centre has prepared Standard Operating Procedures (SOPs) for police verification needed for passport applications. However, the Maharashtra government is addressing concerns raised by citizens whose residential buildings are undergoing redevelopment, according to a minister’s statement on Wednesday. During an assembly session, Minister of State for Home, Yogesh Kadam (Urban), emphasized that verifying addresses for passport applications is a national security issue. This process requires confirming the applicant’s identity along with any pending criminal cases. It is important to note that police verification for issuing passports occurs at the applicant’s registered address. The redevelopment of older buildings can cause…
