Daily Real Estate News Digest (10th September 2019)

Birla Estates eyes 200 acres of Century Mills for residential projects.

Birla Estates, a real estate arm of B K Birla Group, has identified around 200 acres of land owned by its parent firm Century Textiles and Industries across Mumbai and Pune to strengthen its residential real estate business.

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DHFL repays entire dues to DSP Mutual Fund.

DSP Mutual Fund had an exposure of Rs 150 crore to commercial papers (CPs) issued by DHFL with scheduled maturity on June 25, 2019.

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L&T Construction to construct over 23,000 residential units in Navi Mumbai.

Infrastructure company Larsen & Toubro (L&T) on Monday said its construction arm has bagged contract from the City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) to construct 23,432 dwelling units at various locations in Navi Mumbai. 

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Maharashtra to tighten eligibility norms for government housing schemes.

A new eligibility policy of the state housing department has proposed to limit the benefits of government housing schemes to only one member of each family.

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MahaRERA to have conciliation forum benches in every district.

The Maharashtra Real Estate Regulatory Authority is considering expanding its conciliation forum experiment by setting up a bench in every district in the state to help resolve disputes between developers and home buyers.

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DHFL may get a Rs 7,000 crore lifeline.

Dewan Housing Finance Corp’s (DHFL) lenders are considering Rs 7,000 crore in emergency funding to the debt-laden financier even as the creditors decide on the formula for conversion of debt into equity, which is a key part of the proposed restructuring plan.

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Blackstone, K Raheja plan REIT for commercial portfolio.

 American private equity major Blackstone Group and realty developer K Raheja Corp are set to take their jointly-owned 20 million sq ft commercial portfolio public through the listing of a Real Estate Investment Trust  by March.

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Mumbai's Tardeo at Rs 56,200/sq ft among India’s top 10 expensive housing locations.

South Mumbai's Tardeo is India's most expensive luxury residential location in the primary residential real estate market, with luxury properties commanding an average price tag of Rs 56,200 per sq ft, followed by Worli and Mahalaxmi at Rs 41,500 and Rs 40,000 per sq ft, respectively. 


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