Elan Group buys 40 acre land for Rs 580 cr from Indiabulls

17 Feb 2022 CW Team

In a major land deal, Elan Group has acquired approximately a land parcel of 40 acre worth Rs 580 crore in Gurugram from Indiabulls Real Estate. The land will be used for housing and commercial projects.

The land is located on Dwarka Expressway. With this purchase, Elan Group will be entering the housing sector having a 5 million sq ft of total development potential.

By far Elan Group has completed three commercial projects including office and retail. As of now, it is building five commercial projects.

As per sources, the company has purchased approximately 40 acre licensed land parcels. Out of which 30 acres is reserved for residential areas and 10 acre for commercial development.

The advance payment has been made by Elan Group to Indiabulls Real Estate. The deal will reach a conclusion in the upcoming months.

In a regulatory filing, Indiabulls Real Estate informed that their board has given approval for the divestment of 100 % stake in the four subsidiaries of the company, owning the land in Sector 106, Gurugram.

The term sheet had been signed. In due course, the definitive agreement too will be executed.

The consideration for sale for the same is Rs 580 crore which is subject to required adjustments.

Many developers in the real estate sector are adopting asset-light models or being a part of joint ventures with landowners.

The Delhi-NCR market has witnessed several big-ticket land dealings in the past 15 years.

Image Source

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..