With the hope to acquire, develop and operate shopping malls in India, US-based real estate investment trust Vornado Realty Trust has made the announcement to enter in a Joint Venture (JV) with the Mukesh Ambani-led Reliance Industries. To take this JV to the peak of success, both the partners will invest $250 million which comes to nearly Rs 1,000 crore each.

Vornado informed, “The shopping centers, spread over 5, 00,000 to 10 lakh square feet or more, will be anchored by a hypermarket owned and operated by Reliance.”

This JV also will give a boost up to the plans of expansion for RIL’s retail venture Reliance Retail. It operates 700 multiple-format stores across 60 cities, taking 3.5 million sqft under its grid.

Real estate firm Puravankara Projects Ltd has informed that it will invest Rs 8000 crore for its foray into affordable housing through its unit, Provident Housing and Infrastructure Limited.

The arm plans to build 64,500 affordable homes during Phase I, which will cover Bangalore, Chennai, Hyderabad, Coimbatore, and Mysore.

The company will develop 59.8 million sq ft in first phase over next five years.

Kolkata-based RDB Industries Limited, one of the leading real estate company has informed that the Ministry of Health & Family Welfare, Government of India, have awarded a tender in favour of t

Delhi-based real estate major Aeren R Enterprises has revealed its plans to invest over Rs 6,350 crore in developing two projects in North India despite realtors, which are presently struggling due to high interest rates.

Under the proposed plans, the company is aiming to construct two premium residential complexes in Ludhiana, of which one would build on 12 acres of land, and other will cover 175 acres of land along with a nine-hole golf course.