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GREATER NOIDA: To monitor the financial health of the private developers executing realty projects in the city and to ensure timely payment, the Greater Noida Industrial Development Authority will ask builders to open escrow accounts now on.
The Authority took the decision to implement the system after recently getting an approval from the board. Home to 207 group housing projects, the Greater Noida Authority has to recover dues to the tune of over Rs 7,000 crore from the private developers executing the multi-storey apartment projects in the city.
Officials said these developers will now have to set up an escrow account for every project. The funds collected from the buyers will be utilised for further construction work or for ensuring payments related to the same project. The Authority will also seek its payment from the developers towards the land premium, they said.
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Antony Waste Handling Cell is the second largest player in the Indian municipal solid waste management industry with end-to-end capabilities.
Antony Waste makes a solid debut on New Year day
NEW DELHI: Shares of Antony Waste Handling Cell made a solid market debut on Friday, as the scrip got listed at Rs 436.10 on NSE, a 38.44 per cent premium over its issue price of Rs 315. On BSE, the stock got listed at Rs 430, up 36.51 per cent.
The IPO, which ran from December 21-23, was subscribed 15 times, with retail investors portion subscribing 16.54 times, non-institutional investors 18.68 times, and the portion set aside for qualified institutional buyers subscribing at 9.67 times.
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NEW DELHI: Shares of Ansal Properties & Infrastructure climbed 5 per cent in Thursday s trade after the real estate company agreed to sell its entire 66.24 per cent stake in IT SEZ in Greater Noida to Migsun group.
In a regulatory filing, Ansal Properties said the company has entered into an agreement to sell its entire shareholding of 66.24 per cent held in its subsidiary firm Ansal IT City and Parks, which owns IT Park of 37.5 acres of land at Greater Noida to Mahaluxmi Infrahome, part of Migsun Group.
Following the development, the stock rose 5 per cent to Rs 11.43 on BSE.
The deal is subject to the approval of regulatory authorities of SEZ, Greater Noida Industrial Development Authority, and the Ministry of Commerce.