Arihant buys three-acre prime space in Perungudi
A Chennai-based real estate player, Arihant Foundations and Housing Ltd., has chosen a three-acre land parcel on MGR Salai in Perungudi to develop a residential project. According to industry sources, the land value alone was around ₹300 crore.
'Arihant has signed a joint development, and this project will have a gross development value of approximately ₹1,200 crore,' the source said.
It is learnt that Arihant is planning to come up with a high-rise residential project featuring 35 to 40 floors. Upon completion, it is poised to become the tallest building in the area.
'The project will cater to the IT and start-up crowd in that area, which is surrounded by major IT parks, such as DLF, RMZ and SP Infocity,' the source added. Hundreds of start-ups have mushroomed in this area, which also houses consulting firms and digital marketing companies.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
38 minutes ago
- Time of India
VMC probe into inflated fire dept purchases delayed
Vadodara: The Vadodara Municipal Corporation (VMC) has formed a four-member preliminary inquiry committee to investigate alleged irregularities in the procurement of safety, rescue, and other equipment for the fire department. While the panel was initially expected to submit its report this week, officials said it may take more time. The civic body initiated the inquiry after reports surfaced about highly inflated rates for several items procured earlier this year from a Surat-based agency, for which the VMC had already made payments of Rs 3.81 crore. The purchases included 24 items ranging from emergency whistles and water bottles to inflatable rubber rescue boats and motors for such boats. The purchase order, issued in April, mentioned unusually high prices for several items such as whistles, water bottles, mosquito nets, and pocket knives. The glaring price discrepancies prompted the civic body to launch an internal inquiry. Sources said a third party managed the procurement, and the bills were reviewed by the audit department before payment was cleared. However, despite these checks, no clarifications were sought on the inflated rates. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like NRIs Living In Portugal Are Eligible For INR 2 Lakh Monthly Pension. Invest 18K/Month Get Offer Undo Following the revelation of the alleged irregularities, the Vadodara Municipal Corporation (VMC) constituted a four-member preliminary inquiry committee comprising the deputy municipal commissioner, chief auditor, chief accountant, and the executive engineer of the central store. The order to form the panel was issued on July 26, and it was given three days to submit its report. However, the panel has yet to submit its findings. "The committee is still working on the report and may take some more time," an official said.
&w=3840&q=100)
Business Standard
39 minutes ago
- Business Standard
Industry optimistic about low, if not zero, tariff on electronics exports
The sobering news is that Cupertino-based Apple Inc, which assembles the iPhone in India, has already ensured that bulk of its semiconductor requirement came from non-Chinese sources premium Surajeet Das Gupta New Delhi Listen to This Article The imposition of specific tariff on electronic manufacturing — which, for India, primarily means mobile devices, apart from servers, laptops, and personal computers (PCs) — is pegged on one key clause under Section 232 investigation by the US commerce department. Section 232 of the Trade Expansion Act of 1962, administered by the US Department of Commerce, allows the President to restrict imports that threaten national security. The commerce department investigates potential threats, and if a threat is found, the President can impose tariffs or other trade restrictions.
Time of India
an hour ago
- Time of India
Odisha suspend all player, staff contracts
Kolkata: On a day that Khalid Jamil was announced the head coach of India men's national team, the uncertainty surrounding the Indian football's top-flight league hit hard with Odisha FC suspending all player and staff contracts from August 5. As speculation grew over the club's overall future, the India Super League (ISL) side's owner Rohan Sharma clarified things through his social media account later in the evening. "We haven't shut down the club despite the headlines. Key staff members are retained, our women's team will be operational. However, it becomes harder to justify to my stakeholders to sink Crs (crores) upon Crs with nothing to show for it, and no end in sight," club owner Rohan Sharma wrote on 'X'. "We have - No Clarity when the League will Start - Nowhere to practice/play/work in Odisha - No way to get sponsorship since there's no season - No way to engage investors with an expiring participation agreement. We hoped something would give, but sadly it hasn't," added Sharma. Hoping for a better resolution of the current situation, he wrote further, "We didn't go into this offseason planning to take this step. In fact we had made 5 signings until it became clear things are delayed. We desperately hope the above issues get resolved; maybe doing this will prompt people to fast-track solutions so we can get back to work." Earlier in the day, Delhi Soccer Private Limited (DSPL), the parent company of the Bhubaneswar-based side, issued a letter confirming the implementation of a 'Force Majeure' in the wake of an uncertain future of ISL. A letter signed by Ajit Panda, head of finance, DSPL, stated, "As you may be aware, the commencement of the Indian Super League 2025-26 season has been indefinitely suspended due to the inability of Football Sports Development Limited and the All India Football Federation to reach an agreement on the renewal of the Master Rights Agreement." "This unfortunate development has placed Odisha FC in an extremely challenging position, arising from circumstances that are entirely beyond the Club's control and unforeseeable in nature — akin to a force majeure event," the letter added. "After careful and thorough consideration, and in alignment with the evolving situation, the Club has arrived at a difficult decision and is proposing to place your engagement with the Club under suspension with effect from 5th August, 2025. Please be assured that this decision has not been taken lightly and is being made on a bona fide basis, in the best interest of the Club and its stakeholders," the club added in the letter. Odisha FC also stated that they would not restrict any player willing to explore other professional opportunities which could be available during this time and would facilitate any mutual termination of contract if it is a preferred solution.
