City Lights

Orris launches retail project in Gurgaon

GURGAON: Orris Infrastructure has announced the launch of Floreal Towers-Retail,situated in Sector 83,New Gurgaon. Touted as a premium commercial cum retail complex spread over 5 lakh sq ft,the project has a dedicated 1.5 lakh sq ft of retail area,which consists of shopping area on the ground and first floors and dining and food court on the second floor. The green project also claims to be the first commercial cum retail complex on NH-8 in New Gurgaon. The project also has central air conditioning,100 per cent power backup,24 x 7 security and 3-level basement parking. Construction of the project has begun and is expected to be completed by March 2012.

AIC Karnal completes first phase

KARNAL: The first phase of Alpha International City,Karnal,a fully-integrated township spread over 306 acres being developed by real estate and asset management company,Alpha G:Corp,is being handed-over to buyers with 141 acres of completed plotted development. AIC,Karnal recently received the completion certificate for the first phase from the director,town and country planning,(DTCP) Haryana.

DB Realty buys land from for Rs 1,540 cr

MUMBAI: Mumbai-based developer,DB Realty has bought land in Thane from of Bayer CropScience for Rs 1,540 crore,independent sources said. The land bought by DB Realty is a 105 acre land parcel.  Sources said,DB Realty is planning to build a rental housing project on the newly acquired land. The government gives incentives to generate rental housing stock on self finance basis. This scheme can attract additional FSI,and DB Realty may get an FSI of 3.

Godrej’s realty arm eyes Chembur plot

MUMBAI: Godrej Properties has signed a development agreement for a 1.35-acre plot in Chembur. The property,which is on the Sion-Trombay Highway,has development potential of around 1,50,000 sq ft,the company said in a media statement. Godrej Properties will be undertaking the project through a joint venture with land-owner Bombay Footwear. Almost 85 per cent of the company’s total projects are being executed through the joint-development model.