SPOTLIGHT – GNIIDA, Godrej Properties, SEBI new Norms

GNIIDA Data Centre Plots to Generate Rs 30000 Crore Investment

The Greater Noida Industrial Development Authority (GNIDA) has launched plots for data centers in two sectors of Greater Noida (GNIDA) has launched plots for data centers in two sectors of Greater Noida.

Greater Noida is emerging as the country’s hot data centre destination with Hiranandani Group having already the country’s largest data centre at Knowledge Park 5 in Greater Noida. Many companies have been looking for land to invest in Greater Noida.

GNIDA has launched 10 plots with 5 plots each in Sector Techzone and Sector Knowledge Park Five in Greater Noida. These plots range from 8080 sq mts to 1.07 lakh sq mts area. The allotment of all these plots has the potential to generate an investment of Rs 30000 crore.

Record  Rs 200 Crore Luxury Homes Deal

What could well be the largest apartment deal, the family, relatives, friends, and associates of DMart Founder Radhakrishnan Damani have purchased 23 super luxury apartments in the Three Sixty West residential complex on Annie Besant Road, Worli Mumbai.  These apartments belong to a builder Sudhakar Shetty who through his company, Sahana Group, had partnered with Mumbai’s leading builder Vikas Oberoi of Oberoi Realty. to develop Three Sixty West.

The three Sixty West project comprises two towers. While one tower will house the Ritz Carlton Hotel, the other luxury residences managed by this hospitality chain  The apartments which are part of the deal are 5000 sq ft in size and fetched Rs 50-60 crore each though earlier similar apartments in the residential complex were sold at a higher price.

Godrej Properties Bags Rajkapoor’s Prized Mansion

Having earlier purchased legendary Bollywood actor, and director Raj Kapoor’s famous R K Films  Studios, Mumbai’s leading developer, Godrej Properties has now got another prized catch in the form of Raj Kapoor’s iconic bungalow in Chembur spread over 1 acre having a market value of around Rs 100 crore.

Earlier in 2019, Godrej properties had bought the famous RK Studios spread over 2.2 acres in Chembur, reportedly for about  Rs 200. The real estate company is developing Godrej RKS, a mixed-use project having luxury residences and retail. The project is expected to be completed this year.

Godrej Properties will redevelop the newly bought Raj Kapoor’s bungalow into a premium residential project. According to Gaurav Pandey, MD and CEO, of Godrej Properties, this upcoming outstanding residential community will create long-term value for its residents.

Design Instructions: Carry the pic of Raj Kapoor and his bungalow, sent through WhatsApp\ :

DLF’s Record Rs 2507 Crore Quarterly    Sales Bookings

Continuing its sales momentum, DLF Limited has clocked residential sales bookings of Rs 2507 crore in Q3 FY23, reflecting a YoY growth of 24 percent. Cumulative new sales for the quarter stood at Rs 6599 crore, registering a YoY growth of  45 percent. The company’s luxury offering The Grove, Gurgaon, alone fetched sales bookings of Rs 1570 crore while The Valley Garden, Panchkula got sales bookings of Rs 540 crore,

DLF Cyber City Developers’ rental income grew to Rs 1003 crore, with a YoY growth of 15 percent. It reported consolidated revenue of Rs 1363 crore as compared to Rs 1176 crore last year, registering a 16 percent YoY growth. On the profit front, DLF Cyber City Developers reported a net profit of Rs 358 crore, clocking a YoY growth of 27 percent.

SEBI ‘s New Norms For Green Bonds and REITs/InvITs

Market regulator SEBI has come up with new guidelines for green bonds and REITs and InvITs. The operational guidelines for green bonds make it mandatory for the issuers of bonds to make an additional disclosure pertaining to the environmental sustainability and objectives of such debt securities in the offer document.

Under the new guidelines, issuers of green bonds are also required to disclose brief details of the decision-making process followed for determining the eligibility of projects for which the proceeds are being raised through the issuance of green debt securities. Certain additional disclosures are also to be provided with annual reports and financial results. Now, the issuer also needs to appoint a third-party reviewer for green debt security for the post-issue management of the use of proceeds from the green debt security and verification of the internal tracking and impact reporting.

In a related development, SEBI has notified the governance norms for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) on the lines of listed companies. The market regulator has streamlined provisions related to unclaimed or unpaid distribution