The Municipal Cooperation of Delhi (MCD) on Wednesday said it expects to raise nearly Rs.2,000 crore by selling some of the commercial sites
under its slum department.
There are 11 commercial sites which we are hoping to auction. By selling them we expect to raise an amount of around Rs.2,000 crore, Leader of MCD house Subhash Arya told.
We would entrust their auction to DDA (Delhi Development Authority) which would carry out the procedure to ensure optimum income. The revenue generated out of auction would be deposited in a fixed deposit in a nationalised bank and we would utilise only the interest part of it for development works in the slums, he added.
Source : economictimes.indiatimes.com
Send an E-Mail for Delhi Property Enquiry!
Related News from Delhi
Parsvnath Developers, a Delhi-based real estate company, is in talks with various private equity funds to raise around Rs 600 crore by the end of 2009-10 by selling stakes in its projects, a key official has said.
A major chunk of the funds will go towards repaying debt, the official said. Parsvnath has a debt of nearly Rs 1,600 crore and plans to reduce it by half by the end of the current financial year, he disclosed. The company has a total 79 million sq ft of land under development.
Parsvnath recently raised Rs 168 crore by selling shares to investors
DLF Ltd (DLF.BO: Quote, Profile, Research, Stock Buzz), Indias largest-listed property developer, has sought shareholders approval to raise up to 100 billion rupees ($2.3 billion) by selling shares to institutional investors.
The New Delhi-based company said in its annual report for a shareholders meeting on Sept. 30 it expected to complete the share sale within 12 months of getting shareholder approval.
This is just an enabling resolution so that we can raise the money when we need, a DLF spokesman told Reuters.
More : reuters.come.
Illegal slum dwellings is a location in Delhi in India. If you have seen Illegal slum dwellings , then write us a review comment or your experience about this site in Delhi. This site is to provide information to visitors to this place. Your comment about Illegal slum dwellings is important to us. Please provide you comment / review / article on Illegal slum dwellings A in Delhi below.
Illegal slum dwelling part 2 is a location in Delhi in India. If you have seen Illegal slum dwelling part 2 , then write us a review comment or your experience about this site in Delhi. This site is to provide information to visitors to this place. Your comment about Illegal slum dwelling part 2 is important to us. Please provide you comment / review / article on Illegal slum dwelling part 2 A in Delhi below.
To empower the urban poor, the United Progressive Alliance government is initiating steps to give them property entitlements.
We will develop a model legal framework for consideration by the states and Union territories for according property rights to slum dwellers, Union housing and urban poverty alleviation minister Selja said here today.
Selja was announcing a 100-day plan of action for her ministry. There are about 81 million urban poor, or slum dwellers, in the country as per an estimate made in 2004-05.
More : dnaindia.com
