Rising Wellworth purchases 6.7 acre in Pune for Rs 2.6 billion

14 Apr 2023 CW Team

Through its company Rising Wellworth Enterprises LLP, real estate developer VTP Realty paid more than Rs 2.6 billion for a 6.7-acre property parcel in Pune's Thergaon neighbourhood. The deal is an expansion of a previous development agreement that the two parties signed.

In August 2017, the business and the property owner had signed a development agreement for the mentioned land piece. The landowner agreed to give up a specific piece of commercial property in exchange for the company developing a real estate project on this piece of land as specified in the agreement.

Rising Wellworth Enterprises, the project's developer, subsequently secured the necessary approvals, developed a project that included both residential and commercial areas, and as a result, started constructing residential property.

According to the records discovered through CRE Matrix, the company was anticipated to finish building the commercial property, assign the commercial space to the owner as agreed payment, and obtain the completion certificate for the same by March 2021.

However, the development of the project's commercial component had not started until that point, thus the developer was unable to allocate the agreed-upon built-up area of commercial units as and in exchange for consideration.

In September 2021, the developer and landowner entered into a new agreement. The developer asked for enough time for the completion of the commercial portion and proposed to provide a refundable security deposit in addition to the earliest security deposit as mutually agreed under the earlier agreements.

Also read:
Tamil Nadu: TNUHDB unveils new housing development
NBCC appeals bid for the redevelopment of GPRA colony, Sarojini Nagar

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..