Real estate developer, Ansal Properties and Infrastructure Ltd (Ansal API) has terminated the Memorandum of Understanding it had signed with the UAE-based Deeyar Development PSC for development of a real estate project. The two companies had signed an agreement for an exclusive tie-up to develop a mixed-use township in Uttar Pradesh. Deyaar was supposed to take 40% stake in the project.
Mahindras to drive into low cost housing projects
Mahindra Lifespaces Developers (MLDL), the housing and real estate arm of the Mahindra Group, is planning to enter the business of building low cost houses for the middle-income group. Low cost houses have become a fad among young people as they are available at an affordable cost of Rs 25-30 lakh. The company has tied up with BE Billimoria and Co, which specialises in construction technology to bring down construction costs in the long run.
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