RTI says railways earned Rs 28 billion more in 7 years

Brookfield India Real Estate Trust will acquire a 50% stake

50% of the four Grade A assets from Bharti Enterprises (Bharti) will be acquired by Brookfield India Real Estate Trust (BIRET) as per an agreement between the two. The 3.3 million square feet of commercial real estate included in the deal have an enterprise value of about Rs 60,000 million. The whole equity payment for the 50% interest would be satisfied by giving Bharti first dibs on BIRET units, which are valued at Rs 300 each. After that, Bharti will retain an 8.53% ownership position in BIRET, making it the second-largest unitholder.

The portfolio of properties consists of the op..

Brookfield India REIT to Acquire Bharti's 50% Stake in Realty JV

Brookfield India REIT is on the verge of purchasing Bharti Enterprises' nearly 50% stake in their joint venture, which focuses on real estate development. This move underscores Brookfield's commitment to expanding its presence in India's dynamic property market. The transaction is expected to be valued at around ?5,000 crore, making it one of the notable deals in the sector.

This acquisition aligns with Brookfield's strategy of enhancing its portfolio with quality assets, leveraging its expertise in real estate management. The deal signifies a significant milestone for both parties, w..

DLF Launches Luxury Project in Gurugram

DLF, India's leading real estate developer, has unveiled an ambitious luxury housing project in Gurugram, valued at ?2.5 billion. Located in Sectors 76 and 77, the DLF Privana project spans over 116 acres and includes high-rise apartments offering spectacular views of the Aravalli Range.

The latest phase, DLF Privana West, features 795 luxury apartments which sold out within three days of launch, generating around ?550 million. This follows the success of DLF Privana South, which sold 1,113 units for approximately ?720 million earlier in the year. These developments highlight the stron..

Andhra train crash: CRS report implies avoidable accident

Railway safety experts, loco pilot associations, and trade union representatives attributed primary blame for the collision of two trains in the Waltair Division of the East Coast Railway, which resulted in 17 fatalities, to senior railway operating officials. They referred to the October 29, 2023, train accident.

According to the Commissioner of Railway Safety (CRS) report, it was found that three trains had overrun two defective signals before the accident. It was alleged that senior operating officials had overlooked these signals. The collision occurred when Train No. 08504 (VSKP-R..

Railways Calls for Bids for Varanasi Division Projects

Indian Railways has initiated the bidding process for various infrastructure projects in the Varanasi division. These projects aim to enhance rail connectivity and modernise facilities in the region, bolstering local transportation and economic growth.

The projects include the construction of new railway lines, upgrades to existing tracks, and improvements in station infrastructure across Varanasi division. This initiative is part of Indian Railways' ongoing efforts to modernise and expand its network, catering to increasing passenger and freight demands.

The bidding process invi..