Will launch Wagholi project in 4-6 weeks: Mahindra Lifespaces

  • | Tuesday | 14th November, 2023

Pune: Mahindra Lifespaces is doubling down in developing its upcoming projects in Pune, with the company launching its Wagholi project in coming weeks after acquiring a 5.4-acre land parcel in the area. We will see the launch of the same project in the next four to six weeks that is the speed we want to have for as many of our launches as much as possible, Amit Sinha, MD & CEO said.The project has sales potential of 15 lakh sq ft. The company has three ongoing projects in the city including two in Pimpri-Chinchwad and flagship Happinest project in Tathawade. On the commercial real estate side, the company is in the process of acquiring land in Bhor, near Pune, for its industrial cluster project under brand name Origins. The company expects the project to be launched by FY25. TNNWe also published the following articles recentlyFlyover project in limbo over land acquisition issuesThe construction of the Valluvar Kottam flyover in Chennai is facing delays due to the Greater Chennai Corporations inability to acquire private land along the proposed route. The projects budget is expected to exceed INR 100 crore due to the costs of land acquisition. The flyover is intended to alleviate traffic congestion at the Valluvar Kottam junction, but some experts argue that flyovers are not a long-term solution and suggest exploring alternative approaches such as closed corridors. Residents also express concerns about potential traffic issues at other junctions.Goa seeks consultants for Film City project at LoliemThe Entertainment Society of Goa (ESG) is inviting consultants to help develop a Film City in Goa through a public-private partnership. The project, located in Loliem and spanning 250 acres, has gained interest from the local community. The ESG is looking for a consultant to provide transaction advisory services and oversee the entire bidding process. The goal is to select a competent private developer for the Film City, which will include studios, shooting locations, commercial spaces, and accommodation units. This project aims to meet the demand for dedicated film production studios and training institutes in Goa.Housing projects: IBBI moots changes to rulesThe Insolvency & Bankruptcy Board of India (IBBI) has proposed key changes to smoothen the process of completion, handing over, and registration of residential projects for homebuyers. The suggestions include the registration of each project under RERA, operating separate bank accounts for each project, and allowing resolution professionals to hand over possession of units to homebuyers. The IBBI has also proposed excluding properties where the "allottee" has taken possession from the liquidation estate. These changes aim to address delays and confusion in the resolution process for real estate projects.

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