• Delhi-based realtor Anat Raj has tied up with Birla Estate to develop a residential project in Gurugram with an investment of Rs 740 crore.
  • The company said that a joint venture has been formed with Birla Estate, a real estate arm of Century Textiles and Industries to develop two residential projects on 73 acres of land in Gurugram.
  • According to market participants, the joint venture will develop 33 lakh square feet of area which would generate revenue of nearly Rs 4,000 crore in the next five years.
  • The US Commerce Department imposed duties of more than 400% on steel imports from Vietnam, accusing some businesses in the Southeast Asian nation of evading the levies in a further escalation of tension between the two trading partners.
  • Mining in India will get a new lease of life provided the government prunes taxes and other levies to a realistic level of 35-37% from the extant 64%. The pruning of taxes will help in reviving investors’ interest and result in production boost up, which might offset growing imports, industry sources said.
  • As per Niti Aayog, India’s mineral imports, estimated at Rs 3,73,662 crore, far outstripped the value of domestic mineral production (excluding coal, atomic and fuel minerals) at Rs 47,432 crore in 2016-17.
  • According to J C Sharma, Vice Chairman and Managing Director, SOBHA Limited, Real estate sector wants clarity on GST rate for joint development agreement (JDA) or sale of development rights, especially for commercial projects in the Budget 2019-20
  • Primary steel producers in India are unwilling to revise prices upwards in July due to weak demand, despite the sustained increase in raw material costs, which has been squeezing their margins over the past few months.
  • Railway Minister Piyush Goyal said during the Question hour in Lok Sabha that presently, 1,103 stations have already been developed under ‘Adarsh’ station scheme and remaining 150 number are targeted to be developed by 2019-20. 1,253 railway stations have so far been identified for upgradation under the ‘Adarsh’ station scheme.
  • Goyal said during 2018-19, additionally, 68 stations have been substantially upgraded through zonal railways under the work of ‘Soft upgradation of stations’.