+
Bengal Shapoorji gets Rs 200 cr loan, resumes work in Sukhobrishti project
Real Estate

Bengal Shapoorji gets Rs 200 cr loan, resumes work in Sukhobrishti project

Bengal Shapoorji, which is constructing Asia's largest mass housing project in the New Town area, said on Sunday that it is committed to completing construction work and has secured a Rs 200 crore loan to do so.

The company also claimed to have resumed construction work with 600 workers, which it claims will speed up the process.

Shapoorji Pallonji's real estate arm, Bengal Shapoorji Housing Development Private Ltd, has been entrusted with the construction of the Sukhobrishti project, which will span over 50 acres of land and include 20,000 residential units in New Town.

There was a flurry of complaints about apartment deliveries not arriving on time. West Bengal Housing Infrastructure Development Company Limited is the project's initiator.

In the latter half of 2019, customers began to complain about the company's delays. Some home buyers claimed that funds were diverted from their project to Joyville in Howrah, describing the delivery delays as a mass housing crisis and accusing the group of making false promises. Consumers also reported the delay to banks, prompting them to take action.

Bengal Shapoorji Housing Development (BSHDPL) is committed to completing the Shukhobrishti project's remaining apartments. They have already secured Rs 200 crore in funding from a major bank to finish the construction work, and will begin handing over the remaining apartments in phases beginning early next year, a company spokesperson said.

Phase six of the Sukhobrishti project is having delivery issues, and the company has already raised funds for phase nine. The company does have time for the later phases, but they may be delayed in order due to earlier schedules being pushed.

Image Source

Bengal Shapoorji, which is constructing Asia's largest mass housing project in the New Town area, said on Sunday that it is committed to completing construction work and has secured a Rs 200 crore loan to do so. The company also claimed to have resumed construction work with 600 workers, which it claims will speed up the process. Shapoorji Pallonji's real estate arm, Bengal Shapoorji Housing Development Private Ltd, has been entrusted with the construction of the Sukhobrishti project, which will span over 50 acres of land and include 20,000 residential units in New Town. There was a flurry of complaints about apartment deliveries not arriving on time. West Bengal Housing Infrastructure Development Company Limited is the project's initiator. In the latter half of 2019, customers began to complain about the company's delays. Some home buyers claimed that funds were diverted from their project to Joyville in Howrah, describing the delivery delays as a mass housing crisis and accusing the group of making false promises. Consumers also reported the delay to banks, prompting them to take action. Bengal Shapoorji Housing Development (BSHDPL) is committed to completing the Shukhobrishti project's remaining apartments. They have already secured Rs 200 crore in funding from a major bank to finish the construction work, and will begin handing over the remaining apartments in phases beginning early next year, a company spokesperson said. Phase six of the Sukhobrishti project is having delivery issues, and the company has already raised funds for phase nine. The company does have time for the later phases, but they may be delayed in order due to earlier schedules being pushed. Image Source

Next Story
Infrastructure Transport

Railway Board Approves Budgam–Delhi Parcel Train

The Railway Board has approved the launch of a Joint Parcel Product–Rapid Cargo Service (JPP-RCS) for the Jammu division. The train will operate daily between Budgam railway station in the Kashmir Valley and Adarsh Nagar in Delhi.The service will comprise one seating-cum-luggage rake and eight parcel vans. To support traders, loading and unloading facilities will be provided at Bari Brahmana station. Initially, the cargo service will run on a pilot basis, with security arrangements ensured by state police.Officials said the initiative is designed to increase the railways’ share in the cour..

Next Story
Infrastructure Energy

PFC Secures EUR 150 Million Loan from KfW to Fund RDSS Projects

Power Finance Corporation (PFC) has signed a loan agreement worth EUR 150 million with Germany’s KfW to finance projects under the Government of India’s Revamped Distribution Sector Scheme (RDSS).The funding will support initiatives aimed at improving the operational and financial efficiency of power distribution companies across the country.Parminder Chopra, CMD, PFC, said, “PFC has been at the forefront of financing and enabling reforms in India’s power distribution sector. This new line of credit will help in realising Government’s vision of ensuring reliable, affordable, and sust..

Next Story
Infrastructure Energy

PM Launches Rs 68.80-Bn Buxar Thermal Power Plant, Key Projects in Bihar

Prime Minister Narendra Modi on Friday inaugurated a series of projects in Bihar, including the Rs 68.80-billion Buxar thermal power plant from Gayaji district.The thermal power plant is expected to significantly enhance power generation, strengthen energy security, and cater to the rising electricity demand in the region.The Prime Minister also flagged off two new trains – the Amrit Bharat Express between Gayaji and Delhi, and the Buddhist Circuit train between Vaishali and Koderma, aimed at improving connectivity and tourism across key Buddhist destinations.In the healthcare sector, he ina..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?