Daily Real Estate News Digest (13th June 2019)

Misappropriation case in SC causes Indiabulls m-cap to shrink Rs 5,300 crore.

Indiabulls Group has lost more than Rs 5,300 crore in market capitalisation on Tuesday after a plea was filed in the Supreme Court on Monday seeking legal action against Indiabulls Housing Finance for misappropriation of around Rs 98,000 crore.

ET Realty

Lodha, ESR ink JV to develop 89 acre industrial park at Palava.

The total investment by both the entities is estimated to be $100 million.

ET Realty

DHFL to use Rs 500 crore proceeds from Aadhar Housing stake sale towards NCD payment.

The sale/transfer of entire stake held by Dewan Housing Finance Corporation Limited  in Aadhar Housing Finance Limited to BCP Topco VII Pte Ltd, which is controlled by private equity funds managed by Blackstone. 

ET Realty

Shapoorji Pallonji Group launches second phase of Joyville project in Gurugram.

 The group will invest Rs 400 crore on the project spread over 18 acres in Sector 102.


Mumbai developers to hold protest march today.

Close to 127 developers from the suburbs of Mumbai and their employees will be holding a protest march at the Building Proposal Department of Brihanmumbai Municipal Corporation in Kandivali on Thursday. Their realtors said files regarding redevelopment projects have been stuck for years.


CBI books Hyderabad-based real estate firm Minerva for duping Union Bank of India.

CBI booked cases under charges of criminal conspiracy, criminal breach of trust, cheating, forgery for the purpose of cheating, using forged documents, against Minerva Apartments managing director.


Fresh FIR against Marvel Realty for Bavdhan project.

The victim had given Rs 2.29 crore to the Marvel Realty hoping to buy a luxury apartment in the Selva Ridge project at Bavdhan Khurd.


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