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Realty firm Signature Global has formed an equal joint venture with RMZ Group to develop a mixed-use project in Gurugram, with the Bengaluru-based firm investing Rs 1,283 crore. In a regulatory filing, Signature Global said it has formed a joint venture with RMZ to develop a mixed-use project, comprising office buildings, hotels, and retail spaces on the Southern Peripheral Road (SPR) in Gurugram. Under the agreement, Signature Global and RMZ will form a 50:50 joint venture. RMZ has committed an investment of Rs 1,283 crore to acquire a 50 per cent equity stake in the project, the filing said. As part of the transaction, Gurugram Commercity Ltd (GCL), a wholly-owned subsidiary of Signature Global, and Millennia Realtors, an RMZ entity, have entered into a Securities Subscription and Purchase Agreement (SSPA). Under the SSPA, RMZ will acquire a 50 per cent equity stake in GCL through a combination of share purchase and share subscription, for an aggregate consideration of up to Rs
At least six private schools in Gurugram received bomb threats through emails on Wednesday morning, said police. The school management, police department, and district administration are on alert after receiving the email threatening to bomb the schools, they added. According to the police, a search operation has been launched in all six schools, and students were also being evacuated from the school premises. Police teams and bomb squads are on the campuses along with sniffer dogs. Six private schools in Gurugram that have received threats are Kunsakpalan School in DLF Phase-1, Lancers School in Sector-53, Heritage Experiential Learning School in Sector-64, Shiv Nadar School DLF Phase-1, Shri Ram Aravali School and Pathway World School near Badshahpur, said the police. According to the school management, they received the threat via email on Wednesday morning at around 7:10 am, after which they informed the police control room. They got to know about the threat just as children we
Realty firm ASF Group has raised Rs 1,250 crore from Alpha Alternatives to fund its ongoing prime office campus in Gurugram and reduce debt. In a statement on Thursday, the company said it has already received Rs 450 crore in funding from Alpha Alternatives and would get the remaining within the next six months. ASF Group's arm, ASF Insignia SEZ Pvt Ltd, is developing a 50-acre integrated commercial IT office campus at Vatsal Valley, Gurugram. ASF Insignia SEZ and its affiliates have secured a commitment of equity and quasi-equity investment of about Rs 1,250 crore from Mumbai-headquartered Alpha Alternatives. Anil Saraf of ASF Group said, "The investment from Alpha Alternatives reinforces the long-term fundamentals of ASF Insignia campus and our strategy of building an institutionally driven office ecosystem". The focus is on balance sheet strength, asset quality and creating a campus that continues to meet the evolving needs of large enterprises and global capability centres, on
To curb the menace of waterlogging and sewerage overflow in Gurugram, the city's municipal corporation has constituted a "Monsoon Management Cell". The cell will be responsible for planning, coordination, monitoring, and review of all monsoon-related preparedness and response activities of Municipal Corporation Gurugram (MCG), an official said. The MCG commissioner, Pradeep Dahiya, passed an order regarding the cell on Saturday, he added. According to the orders, in continuation of the ongoing preparations for the forthcoming monsoon season, Surbhi Sahu, a consultant and a former participant of Haryana's Chief Minister's Good Governance Associates, is attached to the engineering wing. "Mrs Sahu shall undertake assignments including preparation of a comprehensive 'Monsoon Preparedness Plan' for Municipal Corporation Gurugram, compilation and verification of records of civil works, including desilting, cleaning of drains and other monsoon-oriented civil activities," the orders ...
Realty firm Signature Global will invest Rs 4,800 crore to develop a luxury housing project in Gurugram as part of its strategy to expand business amid strong consumer demand. The company, which emerged as the fifth-largest listed realty firm last fiscal in terms of sales bookings, has recently launched a new project, 'Sarvam at DXP Estate', spread over 13.56 acre. The project, located on Dwarka Expressway, Sector 37D in Gurugram, will have 1,798 apartments. In the first phase, the company is offering 50 per cent of the total units for sale in a price range of Rs 3-4 crore per unit. "The total investment in the development of this project is estimated at around Rs 4,800 crore," Signature Global founder and Chairman Pradeep Aggarwal told PTI. The company will meet the investment largely through internal accruals, which include advances from customers. The construction works will start soon, and the project is expected to be completed by 2032. Aggarwal highlighted that the company
The Enforcement Directorate is soon expected to chargesheet a Gurugram-based real estate company and its promoters in a multi-crore money laundering investigation linked to alleged irregularities in the Pradhan Mantri Awas Yojna (PMAY) and fraud with homebuyers, official sources said Sunday. Swaraj Singh Yadav, the MD and "key person" of the company named Ocean Seven Buildtech Pvt. Ltd. (OSBPL), was arrested by the federal probe agency on November 13 and is currently lodged in jail under judicial custody. The ED has alleged that Yadav "fraudulently diverted" and laundered homebuyers' funds worth Rs 222 crore collected under PMAY through cancellation and re-sale of units at inflated prices, collection of substantial cash premiums, and diversion of Escrow proceeds into "shell" (dummy) entities. The PMAY aims to provide housing to the economically weaker sections as part of the Union government's ambitious plan to ensure 'home for all'. The agency, sources said, is carrying out an ...
The National Investigation Agency (NIA) on Thursday filed a chargesheet against three more accused in connection with the 2024 bomb attacks at two Gurugram clubs, allegedly carried out by members of the proscribed Babbar Khalsa International (BKI) terrorist organisation. Vijay, Ajit Sehrawat, and Vinay have been chargesheeted for their alleged role in planning and conspiring the bombings at the Warehouse Club and Human Club in Sector 29 in Gurugram, Haryana, on December 10 last year. The supplementary chargesheet was filed before an NIA special court in Panchkula, Haryana, an official statement said. The arrested accused were found to be closely associated with foreign-based gangster Randeep Malik and Rohit Godara, a close aide of Canada-based designated terrorist Satinderjit Singh alias Goldy Brar, it said. The NIA had filed a chargesheet against Brar and four others in the case in June this year. Investigations revealed that the trio had received explosives and terror funds from
Tata Realty and Infrastructure Ltd has taken a Rs 1,280 crore loan from DBS Bank India for a sustainable commercial project in Gurugram, a statement said. DBS Bank India acted as the sole advisor and green loan coordinator for this transaction. A green loan financing intends to fund or refinance projects that provide environmental benefits. The loan facility has been availed by Tata Realty's special purpose vehicle (SPV), which has developed commercial project 'Intellion Park' in Gurugram. This Grade A office campus has 2.1 million sq ft office spaces. The funds are being deployed towards certified green assets that meet globally recognised sustainability benchmarks. Santanu Mitra, Head of Large Corporate Banking, DBS Bank India, said, "Real estate and infrastructure is a key focus for DBS Bank India, and we have supported several innovative, sustainable projects being developed across the country." Sanjay Dutt, CEO of Tata Realty & Infrastructure Ltd said the loan facility ...