WebinarsNew
Deep DiveNew
Explore Business Standard
Realty firm M3M emerged as the highest bidder for a mixed-use land parcel auctioned by the Noida authority, quoting around Rs 1,850 crore for a 12.5-acre plot in Sector 108, sources said on Tuesday. The Sector 108 parcel had a reserve price of Rs 835 crore and attracted a strong interest, with DLF Ltd also participating in the bidding, the sources said. M3M's bid was approximately Rs 1850 crore, they said. The land parcel is designated for mixed-use development, comprising residential and commercial components, according to the sources. The substantial premium fetched by the Sector 108 parcel highlights strong developer interest in strategically located mixed-use land in Noida, they added. An M3M spokesperson declined to comment immediately, while the Noida authority was yet to announce officially the auction details. DLF Limited, M3M Group and Godrej Properties were shortlisted to bid for this land parcel. However, in Tuesday's bid only two of the groups participated. Godrej ...
Realty firm Gaurs Group has acquired 35-acre land parcels along Yamuna Expressway from ICICI Bank for around Rs 700 crore to develop residential projects as part of its expansion plan. The company bought three land parcels in Sector 18 along the Yamuna Expressway, which connects Noida and Greater Noida to Agra, at an auction from ICICI Bank. "We have acquired 35 acres of land parcels from ICICI Bank for around Rs 700 crore," Gaurs Group Chairman Manoj Gaur said. There are three land parcels, with a 24-acre plot being the largest. "The land has been acquired in an open auction from ICICI Bank Ltd on an as-is, where-is basis. We are settling all the pending dues like EDC, farmer compensation etc," the company said. Gaurs Group, which is one of the leading real estate developers in Delhi-NCR, plans to launch the project on the 24-acre land parcel. Gaur said the company plans to launch 3-4 housing projects by March next year at Noida and Yamuna Expressway. The Group clocked sales boo
Realty firm iUSTUS will develop 25 lakh sq ft of housing and commercial projects in Bengaluru. The company has a "pipeline of around 2.5 million sq ft across South and East Bengaluru, covering residential and commercial developments", iUSTUS said in a statement on Thursday. Bengaluru-based firm is founded by Pawan Sawhney and Santosh Soni, who have been involved in major real estate developments spanning over 7 million sq ft. They bring experience from both the investment and operating sides of the business. iUSTUS said the company would focus on professional execution, disciplined capital deployment, quality, transparency and long-term value creation. Sawhney, MD & CEO of iUSTUS, said: "We believe we have a unique opportunity to better the way we live - by creating enduring value for people and communities while enabling a harmonious coexistence with nature. Sawhney has previously been a Partner at a private equity fund, and also MD and CEO of Address Maker. He is an IIT Bombay .