Sobha acquires Gurugram Land from Chintels India for Rs 1.21 billion

16 Jan 2024 CW Team

Sobha, a realty developer based in Bangalore, has reportedly transferred a sum of Rs 1.21 billion to Chintels India, a developer located in Gurgaon, as payment for the land associated with their collaborative venture in Gurgaon.

The specific land in question is a component of Sobha International Cy, a joint project that both companies had been working on together.

A spokesperson from Sobha mentioned, "This transaction is part of the ongoing partnership settlement, concluding with the registration of specific land in International City."

In February 2022, an unfortunate incident occurred where two individuals lost their lives due to a roof collapse in Chintels Paradiso Society, Sector-109, Gurugram. In response, the state government imposed a ban on registry activities in seven projects, including the one being developed by Sobha.

As per documents obtained from CRE Matrix, a real estate data analytics firm, Sobha has made payments for two distinct parcels of land, measuring 2 acres and 5.8 acres. Additionally, approximately Rs 80.5 million has been remitted as stamp duty.

JN Yadav, Vice President of Chintels, clarified, "The 5.7 acres plot constitutes the commercial segment of the licensed land known as 'International City,' fully allocated to Sobha according to our existing Joint Development agreement. The ownership transfer to Sobha occurred in December 2023, and no consideration was received by us, as this allocation was always part of Sobha's share."

Infrastructure Urban

26 Aug 2025

Jupiter Opens First EV Showroom in Hyderabad

Jupiter Electric Mobility Pvt Ltd (JEM), the electric commercial vehicle arm of Jupiter Wagons Ltd, has inaugurated its first showroom in New Bowenpally, Secunderabad, Hyderabad. The launch also marks the introduction of its 1.05-tonne four-wheeler electric light commercial vehicle (eLCV), JEM TEZ, to Telangana’s growing logistics and intra-city freight market. This expansion underscores JEM’s commitment to delivering purpose-built sustainable mobility solutions and accelerating the electrification of India’s logistics sector.The new showroom, operated by Arven Motors Pvt Ltd, offers cus..

Premier Energies Launches 620W DCR Solar Modules in India

Premier Energies Limited, one of India’s largest integrated solar manufacturers, has launched its next-generation 620W DCR solar modules using G12R TOPCon technology, now among the most powerful large-format panels available in the country.The new modules, built with Tunnel Oxide Passivated Contact (TOPCon) architecture, deliver superior power density, improved temperature coefficients, and enhanced low-light performance. The rectangular G12R N-type cell design enables higher string power and balance-of-system optimisation, making the panels suitable for utility-scale projects as well as com..

ONGC Starts Gas Sales from Rajasthan Chinnewala Tibba Block

Oil and Natural Gas Corporation Limited (ONGC) has commenced natural gas sales from the Discovered Small Field (DSF-II) Block RJ/ONDSF/Chinnewala/2018, marking the successful monetisation of the Chinnewala Tibba field in the Rajasthan Kutch Onland Exploratory Asset (RKOEA). Gas sales officially began on 25 August 2025.This development highlights ONGC’s commitment to boosting domestic energy production and strengthening India’s energy security under the guidance of the Ministry of Petroleum and Natural Gas. Located in western Rajasthan, close to the Indo-Pakistan border, the Chinnewala Tibb..