Bagmane buys railway land in Delhi for Rs 1,530 crore
Bagmane Group
has acquired a 124,000-square metre railway land parcel at Sector 21, Dwarka, in Delhi for '1,530 crore, two people aware of the development said.
#Pahalgam Terrorist Attack
India much better equipped to target cross-border terror since Balakot
India conducts maiden flight-trials of stratospheric airship platform
Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad
The
Rail Land Development Authority
(RLDA) had accepted Bagmane's bid to lease the land in 2023, but the deal was delayed due to the need to relocate trees from the site. The company has now identified a land parcel in Delhi for the relocation, the sources said.
The acquired land can be used for both residential (55%) and commercial (45%).
A new railway passenger terminal coming up adjacent to the site is expected to generate significant footfall in the area.
The Delhi-NCR market has traditionally been driven by sustained investor interest across both traditional and emerging real estate segments. Amid all-time high residential demand, several large and listed developers and other entities continued to snap up land. Other than residential, commercial, retail, industrial and logistics and warehousing are also driving prime land deals in key locations across India.
Anshuman Magazine, chairman and CEO, India, Southeast Asia, Middle East, and Africa at real estate services firm CBRE, said the deal underscored deepening investor confidence in the sector. "We anticipate this momentum to strengthen through 2025, reinforcing India's position as one of the most resilient and opportunistic realty markets globally," he said.
Bagmane Group, a leading developer of
commercial real estate
with strong focus on technology parks and built-to-suit campuses, currently manages over 18 million sq ft of operational assets, with an additional 10-15 million square feet in various stages of planning and development.
With a growing presence in key cities including Bengaluru, Chennai, and Delhi-NCR, Bagmane is steadily building a diversified portfolio to position itself for a potential
Real Estate Investment Trust
(REIT) listing.
In March, Bagmane acquired
Cognizant Technology Solutions
' former India headquarters in Chennai for about '612 crore.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
28 minutes ago
- Hans India
Govt says there's no directive to block Reuters X handle in India
The Government of India has clarified that it has not issued any order to withhold the X account of the international news agency Reuters in the country. "There is no requirement from the Government of India to withhold Reuters handle. We are continuously working with X to resolve the problem," an official spokesperson said in a statement. This clarification comes after Reuters' X account was found to be withheld in India, prompting concerns over press freedom and censorship. Users attempting to access the handle were shown a notice stating that the account had been withheld "in response to a legal demand". Reuters confirmed the development earlier, saying it was seeking more information on why its handle was blocked in India. According to officials familiar with the matter, the only request for blocking Reuters' X account was issued on May 7, during Operation Sindoor launched against Pakistan following the massacre of 26 Indian tourists in Pahalgam in an Islamabad-sponsored terrorist attack. This was a part of a national security exercise. However, although several hundred accounts were blocked due to national security reasons, no action was implemented to block the Reuters handle on X despite the government order, the official said. It appears that X, owned by Elon Musk, may have mistakenly enforced the outdated order. "The issue is not relevant anymore. The government has reached out to X, asking them to explain the blocking and to lift the embargo," a senior official said. Reuters has not issued any public statement on the issue. Despite the block on Reuters' main and Reuters World handles, several affiliated accounts, including Reuters Tech News, Reuters Fact Check, Reuters Asia, and Reuters China, remain accessible within India.
Mint
31 minutes ago
- Mint
China Retaliates Against EU on Medical-Device Procurement
China will impose some reciprocal curbs on medical-device procurement for companies based in the European Union, adding tensions between the two major trading partners just as Beijing seeks to shore up ties while it fights a trade war with the US. Starting from July 6, EU-based companies will be excluded from Chinese government procurement for certain medical devices if the value is higher than 45 million yuan , according to a statement from the Ministry of Finance on Sunday. Products made by EU-funded companies in China are not impacted by the curbs, the Ministry of Commerce said in a separate statement. China's move came after the EU announced plans to restrict Chinese medical device manufacturers from accessing public procurement contracts worth more than €5 million . The measures will restrict Chinese companies from accessing around 60% of the public spending in this field, or around €150 billion, according to an EU official familiar with the plans. The bloc will also allow no more than 50% of inputs from China for successful bids. Chinese exports of medical devices to the EU have more than doubled between 2015 and 2023, the European Commission said in a statement. In another sign of tension between Europe and Beijing, the Chinese government intended to shorten a two-day summit with EU leaders this month to just a day, Bloomberg reported on Friday. China also announced anti-dumping duties on European brandy on Friday while exempting major cognac makers that agreed to minimum price levels. The action followed the EU's decision in 2024 to levy duties as high as 45% on Chinese-made electric vehicles. European countries have complained that the Chinese government has failed to address overcapacity in sectors including steel, unfair subsidies and market access to its economy. This article was generated from an automated news agency feed without modifications to text.
Mint
31 minutes ago
- Mint
Small-cap stock under ₹20 to be in focus on Monday; here's why
A small-cap stock under ₹ 20 will likely be in focus on Monday, July 7, following the company's business update. Oriental Trimex, a company that deals in the natural imported marble industry, after market hours on Friday, July 4, shared its business update through an exchange filing, highlighting its improving business efficiency and the prospects of increasing profitability. Oriental Trimex said it became one of the first in the industry to introduce the Smart Cut machine, an ultra-thin wire machine for cutting marble blocks. "The SMART CUT machine employs an ultra-thin wire, just 0.55 millimetres thick, significantly outperforming traditional blades using segments wide enough to 3.5 mm. This innovation reduces waste by about 20 per cent, allowing us to optimise yield and bolster profit margins in an industry where margins typically range from 10 per cent to 30 per cent," said the company. "Moreover, its high automation minimises labour requirements, dramatically enhancing our operational efficiency and securing a first-mover advantage in the market," the company added. Besides, the company also announced the granting of a mining lease for black granite by the Odisha government. "On May 21, 2025, we received an official mining lease from the Odisha government for a quarry of Jer black granite, expanding our product offerings. We are poised to commence quarry operations this quarter and anticipate initiating commercial production shortly thereafter," said Oriental Trimex. "As we drive export initiatives and collaboration forward, we are actively engaging with several Far East and Middle East companies, with discussions with a Vietnam-based partner currently in the final stages," Oriental Trimex said. Oriental Trimex also plans to divest seven acres of land in the Somnathpur Industrial Estate, Balasore, and a small granite unit in the Rairangpur Industrial Area. "This decisive action will streamline our operations, reduce recurring expenses, and enhance liquidity for more focused investments," the company said. Moreover, the company said the growing trend of luxury apartment development in Delhi-NCR has created a vibrant market for its products. The small-cap stock has given impressive returns this year so far, surging 48 per cent. It hit a 52-week high of ₹ 17.63 on June 18 this year and a 52-week low of ₹ 7.82 on August 8 last year. Read all market-related news here Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
