Noida Authority Denies Waiver on ₹670 Million Transfer Charges to Max Estates
The Noida Authority has rejected Max Estates Private Limited’s request for waivers on charges related to the transfer of the Delhi One realty project, insisting the full amount must be paid. The developer is required to pay Rs 670 million in change in constitution (CIC) or transfer charges, as confirmed by the authority.Max Estates acquired the stalled Delhi One project in Sector 16B through the corporate insolvency resolution process (CIRP). The authority’s board, in a meeting on 14 June, reaffirmed the decision under its newly implemented Unified Policy that no waiver would be granted on..
Iconic Filmistan Studio in Goregaon West Set for Demolition by December
One of Bollywood’s historic studios, Filmistan Studio in Goregaon West, is set to be demolished by December following a long-awaited agreement that will clear the site for two 50-storey ultra-luxury residential towers. The Jalan family, owners of the studio properties, transferred their rights to Arkade Developers for Rs 1.83 billion on Thursday. Although the exact members of the Jalan family involved remain undisclosed, it is known that filmmaker Sasadhar Mukherjee, who established the studio in 1943, later sold it to Tolaram Jalan, a Kolkata-based film financier.Earlier in January, Arkade ..
Alstom Secures €2 Billion Contract for New York Railcar Supply
French train manufacturer Alstom SA has secured a €2 billion (Rs 20.7 billion) contract from New York’s Metropolitan Transportation Authority (MTA) as part of the authority’s ongoing fleet modernisation efforts.Alstom will supply M-9A railcars for the Long Island Rail Road and Metro-North Railroad, according to a statement released by the company on Friday.Following the announcement, Alstom shares rose by as much as 1.4 per cent during early trading in Paris, valuing the company at approximately €8.9 billion. However, the stock remains down 11 per cent for the year.The MTA approved the..
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