Page 4 - Land Acquisition

V K Saxena approves draft uniform policy for inter-dept allotment of land

If the allotment is for public utility, it would be free of charge, provided the allotting agency had the land in question, the statement said

Report accurate land or building area to avoid assessment disputes

Preserve ownership and renovation documents to bolster case regarding property value

Landscaping growth with tech

Technology-based planning could unlock trillions in economic activity

100% land acquisition completed for Mumbai-Ahmedabad bullet train: NHSRCL

The National High-Speed Rail Corporation Limited (NHSRCL) on Monday said it has completed 100 per cent land acquisition for the Mumbai-Ahmedabad Rail Corridor, popularly known as the bullet train project, across Gujarat, Maharashtra and Dadra and Nagar Haveli. Railways Minister Ashwini Vaishnaw also shared the status of land acquisition on X, saying the entire 1389.49 hectares of land required for the project has been acquired. The high-speed rail line is being built between Mumbai and Ahmedabad. The NHSRCL, in a release, said that all civil contracts for the project were awarded for Gujarat and Maharashtra, while 120.4 km of girders had been launched and 271 km of pier casting completed. "The laying of the first reinforced concrete (RC) track bed for the MAHSR corridor track system, as used in Japanese Shinkansen, has started in Surat and Anand. This is for the first time the J-slab ballastless track system is being used in India," the release stated. The NHSRCL said it has achie

Real estate firm Oberoi Realty buys 6.4-acre land in Thane for Rs 196 cr

Oberoi Realty has completed the purchase of a 6.4-acre land at Thane in Maharashtra for Rs 196 crore for the development of a real estate project. In a regulatory filing on Tuesday, Mumbai-based Oberoi Realty informed that the registry of the land has been done in its favour. In May, the company had entered into a Memorandum of Understanding (MoU) with NRB Bearings Limited for acquiring the lands located at Pokhran Road 2, Thane, Maharashtra, together with structures thereon. The acquisition was to be completed upon fulfilment of certain terms and conditions of the MoU. The same has been fulfilled. "The Company has on December 5, 2023, registered a conveyance deed of the said land admeasuring approximately 25,700 square meters (approx. 6.4 acres) in its favour and also taken possession of the said property," Oberoi Realty said. The total consideration for the acquisition of this land is about Rs 196 crore, which has been paid in its entirety. With the acquisition of this 6.4-acr

L-G refuses to consider Delhi govt's report on Bamnoli acquisition

Delhi Lieutenant Governor V K Saxena has refused to consider a report of Vigilance Minister Atishi alleging "prima facie complicity" of Chief Secretary Naresh Kumar in the Bamnoli land acquisition matter, saying it seems to be "completely based" on the minister's preconceived assumptions and presumptions, Raj Niwas officials said on Sunday. In a file noting on the government's submission of the report to him, Saxena has said the report "could very well go on to hamper the ongoing investigation, instead of facilitating it". "I have received the 'Preliminary Report' on 'Complaints', submitted by Hon'ble Minister (Vigilance) and endorsed by Hon'ble Chief Minister. It is surprising and unfortunate, to say the least, that this report, which deals with sensitive vigilance-related matters and has been marked to my Secretariat in confidential cover, is already in public domain and its digital/electronic copies are freely available and details thereof have been widely reported in the media,"

Land acquisition: CM Kejriwal sends inquiry report on chief secretary to LG

Delhi Chief Minister Arvind Kejriwal has sent to Lieutenant Governor VK Saxena the vigilance minister's report alleging "prima facie complicity" of Chief Secretary Naresh Kumar in the Bamnoli land acquisition matter, government sources said on Wednesday. The report, which was submitted to Kejriwal by Vigilance Minister Atishi on Tuesday, has recommended Kumar's removal from the post for alleged corruption in acquisition of 19 acre of land in South West Delhi's Bamnoli village. The chief minister has instructed the vigilance minister to send the report to the Central Bureau of Investigation and the Enforcement Directorate as well, sources said. The compensation for land acquisition was raised from Rs 41 crore to Rs 353 crore but the report has claimed that the "scale of undue benefits" in the deal was over Rs 897 crore. Chief Secretary Kumar has denied any wrongdoing in the matter and termed the allegations against him as "mudslinging" by people with vested interests against whom ..

Godrej Properties acquires 109-acre land in Nagpur to expand business

Realty firm Godrej Properties Ltd on Friday said it has acquired around 109 acre of land parcel in Nagpur to launch residential plots. In a regulatory filing, Godrej Properties informed that the development on this land will comprise primarily plotted residential units and offer an estimated saleable area of 2.2 million square feet. The company did not disclose the deal value and the name of the seller. However, market sources said the deal has been struck at around Rs 200 crore. Godrej Properties MD and CEO Gaurav Pandey said the acquisition of this new land parcel further enhances the company's presence in Nagpur. With the strong revival in housing demand post-COVID pandemic, Godrej Properties has been acquiring land parcels aggressively outrightly and through partnerships with land owners to expand its business. The demand for plots has also gained momentum. Godrej Properties, an arm of business conglomerate Godrej Industries, is one of the leading real estate developers in t

We are planning safari in Saisaipura area of MP: Project Cheetah chief

In an exclusive Interview with ANI, Project Cheetah head SP Yadav said that process is on for land acquisition for the project

Indorama Ventures to invest $150 mn in three PET recycle plants in India

Bangkok-headquartered and Indian majority-owned Indorama Ventures Public Co Ltd is investing USD 150 million in three PET recycling plants in India, aiming to start commercial production in 2026. We have obtained basic regulatory approvals and land acquisition is going on nearer to our three existing PET-producing plants at Haldia, Nagpur and Panipat, Indorama Ventures Group CEO Aloke Lohia told PTI of the investment plans on the sidelines of the 21st Forbes Global CEO Conference on Tuesday. Recycled PET from the three plants will supplement Indorama Ventures' current 800,000 tonne/year PET production for the Indian and export markets. PET is durable and can be recycled multiple times. He explained the need to increase the use of recycled PET, supporting global initiatives to reduce the use of making new products out of fossil fuels. Noting the Indian economy's high growth, Lohia is bullish about business prospects in India, especially the manufacturing sector and the government-l

Uttar Pradesh government Rs 6,000 crore set aside for land acquisition

Major chunk of Rs 5,000 crore would be spent on Bundelkhand land by the proposed Bundelkhand Industrial Development Authority

Delhi LG approves land transfer for implementation of RRTS project

Delhi Lt Governor VK Saxena has approved the transfer of land from the Irrigation and Flood Control Department to the National Capital Regional Transport Corporation for implementation of the Delhi-Meerut Regional Rapid Transport System (RRTS) project, Raj Niwas officials said on Sunday. The transfer of land to NCRTC at Anand Vihar and Patparganj Area will help with Multi Modal Integration (MMI)- construction of RRTS Station and traffic circulation, and construction of ventilation shaft at the two locations, respectively, they added. The NCRTC, through its letter dated in June 2020, had informed about its land requirement for the Delhi-Meerut RRTS corridor and asked for land to be given for achieving for Multi Modal Integration at Anand Vihar, which also houses a railway station, ISBT and a metro station. It had also asked for land for construction of a ventilation shaft at Patparganj, the official said. After a delay of three years, the Irrigation and Flood Control (I&FC) ...

Land acquisition for cricket stadium in Varanasi completed: UP govt

Land acquisition has been completed for the proposed international cricket stadium in Varanasi that is expected to be ready by the end of 2024, the Uttar Pradesh government said in a statement here on Monday. The stadium in the parliamentary constituency of Prime Minister Narendra Modi will have a seating capacity of 30,000 and will be built at a cost of nearly Rs 350 crore. The land acquisition process got expedited in September 2022. The UP Cabinet had approved Rs 120 crore for the purchase of land from 31 farmers, the statement said. The stadium will be operated by the Board of Control for Cricket in India (BCCI). Under a long-term lease agreement, the BCCI will assume responsibility for the stadium's operation and management. The Board will also contribute a fixed annual amount to the government in exchange for the lease. "Approximately Rs 350 crore will be spent in the construction of this stadium, which is being built on a wide campus of about 31 acres," the statement said.

All unauthorised colonies to be legalised: Madhya Pradesh CM Chouhan

This move will benefit people living in 2,500 unauthorised colonies of the state.

Jaisalmer authority promises land allotment to displaced Hindus from Pak

Hundreds of Hindu migrants from Pakistan who were displaced from the government land in Rajasthan's Jaisalmer district will soon be rehabilitated, an official has said. The migrants also ended their protest following assurances of land allotment within a week. On Tuesday authorities in Jaisalmer had demolished the encroachment of several Pakistani migrants claiming that they tried to occupy the government land. On Wednesday, the migrants opposed the anti-encroachment drive outside the district collector's office and demanded that their concerns be heard. Briefing the reporters then, Dabi said that the process for rehabilitation of the Hindu migrants from across the border will be done and soon land will be allotted to them. "We have formed a committee, which will soon identify a suitable location where Pakistani migrants can be rehabilitated. Initially we will allot the land to those who have got Indian citizenship," said Jaisalmer District Collector Tina Dabi. Dabi said that tho

87 real estate deals signed for 1862 acres of land in FY23 across India

Although the number of deals went up around 50% but the increase in terms of area didn't go up proportionally, which means developers are making large number of deals with smaller area

Macrotech to invest about Rs 2,500 cr this fiscal on land acquisition

Macrotech Developers will invest around Rs 2,500 crore this fiscal to buy land and to pay its joint venture partners against land acquired in the previous years. Mumbai-headquartered Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. It buys land outright as well as enters into joint development agreements (JDAs) with land owners to create a pipeline of future projects. "The total investment that we envisage this year into land is about Rs 2,500 crore, which includes all the new land plus any partner share for whatever land we have taken on JDA (joint development agreement) in the past years," Macrotech Developers MD and CEO Abhishek Lodha told investors. According to a transcript of interactions with investors posted on stock exchanges, Lodha said the JDA projects tend to have investments, which is between 5 per cent and 10 per cent of the GDV (gross development value). "And the outright lands tend to hav

Rs 1,000 cr in 2023-24 budget for land acquisition for 'New Noida'

The Noida Authority on Sunday said it has earmarked Rs 1,000 crore for acquisition of land for area which would be known as 'New Noida'. The authority also made a provision of Rs 500 crore for land acquisition in the existing Noida area, while it set aside Rs 1,906 crore for infrastructure and development work, it said in a statement. The announcements were made after the 209th Board Meeting of the Noida Authority held in presence of UP Industrial and Infrastructure Development Commissioner Manoj Kumar Singh. The Noida Authority Board approved a budget of Rs 6,920 crore for 2023-24 during the meeting, also attended by Authority CEO Ritu Maheshwari. "A target of Rs 8,920 crore in revenue and Rs 6,503 crore in expenditures has been set by the Noida Authority Board for the financial year 2023-24," the Authority said in the statement. "For the financial year 2022-23, the authority's target of revenue was Rs 4,880.62 crore and expenditure target of Rs 4,579 crore (108 per cent more tha

Hyundai Motor considers buying General Motors India's Talegaon plant assets

A Term Sheet has been signed for the potential acquisition of identified assets of the plant like land and building, certain machinery and equipment situated at the General Motors India's plant

Godrej Properties buys 9-acre land for Rs 300 cr to build housing project

Godrej Properties has bought a 9-acre land in Gurugram for around Rs 300 crore to develop a housing project. On December 29, the company had informed stock exchanges about acquisition of the land through an outright purchase, but did not mention the deal value. According to market sources, Godrej Properties bought this 9-acre land for Rs 300 crore. The project with a development potential of about 1.6 million square feet area, has an estimated revenue potential of about Rs 2,500 crore. The site is strategically located with easy access from Golf Course Road Extension, also known as Southern Peripheral Road. Early last year, Godrej Properties Executive Chairman Pirojsha Godrej had announced that the company would invest USD 1 billion on future development of projects. It is aggressively acquiring land parcels either outright or in partnership with land owners. Godrej Properties, a part of business conglomerate Godrej Group, is one of the leading real estate developers in the ...