India Liberalizes Space Sector, Allows 100% Foreign Investment

MHADA Floats Tenders for Kamathipura Redevelopment

The Maharashtra Housing and Area Development Authority (MHADA) has invited tenders to appoint a Construction and Development Agency for the cluster redevelopment of Kamathipura, a historically significant neighbourhood in South Mumbai. The project will be implemented by the Mumbai Building Repairs and Reconstruction Board (MBRRB), a unit of MHADA.Spread over 34 acres, Kamathipura comprises 943 cessed buildings across 15 narrow lanes, many of which are nearly a century old. The redevelopment, under Regulation 33(9) of the Development Control and Promotion Regulations (DCPR) 2034, marks a shift ..

CCI Clears Blackstone’s Rs 11.5 Billion Kolte-Patil Deal

The Competition Commission of India (CCI) has approved Blackstone’s acquisition of a 40 per cent stake in Pune-based Kolte-Patil Developers Ltd. The deal, valued at Rs 11.5 billion, marks Blackstone’s entry into the Indian residential real estate sector.The acquisition will be made by Blackstone’s affiliate, BREP Asia III India Holding Co VII Pte Ltd, through a combination of preferential share subscription and promoter stake purchase. As part of the agreement, Blackstone will also launch an open offer to acquire up to 26 per cent of Kolte-Patil's equity from public shareholders for an a..

Arkade Buys Thane Land for Rs 1.7 Billion Project

Arkade Developers Ltd has entered the Thane real estate market with the purchase of a 6.28-acre freehold land parcel for Rs 1.72 billion, including stamp duty. The Mumbai-based real estate company announced the acquisition in a regulatory filing on Friday, marking its strategic expansion beyond central and western Mumbai.The acquired site will house a mixed-use residential and commercial development, with a gross development value (GDV) of Rs 20 billion (USD 240 million). The planned development will offer a total saleable area of approximately 926,000 square feet, and is scheduled to launch i..