Daily Real Estate News Digest (17th July 2019)

Puravankara buys 25 acre from Unitech for Rs 200 crore

The plot in north Bengaluru was part of a landbank held by Unitech to build residential units. Puravankara, which signed the deal recently, plans to develop commercial property on the plot and strengthen its existing portfolio.

ET Realty

Gera Developments buys 22-acre land parcel in Pune for Rs 180 crore.

Gera Developments is currently in advanced talks with HDFC Capital Advisors, a wholly-owned subsidiary of India’s largest mortgage lender HDFC, to invest about Rs 100 crore in this project.

ET Realty

OYO Hotels & Homes acquires co-working firm Innov8.

The transaction is believed to have valued Delhi-based Innov8 at about Rs 200 crore, and marks Gurgaon-headquartered OYO’s first step into the commercial real estate sector. 

ET Realty

IL&FS eyes Rs 480 crore from sale of two towers at Gift City.

n a public notice Monday, IL&FS said it has put its two towers–Gift One and Gift Two–having a developable area of around 6 lakh sqft on the block and has invited expressions of interest from investors.

ET Realty

Decoding draft tenancy law.

Security deposit has been capped to a maximum of two months’ rent in case of residential property, and a minimum of one month’s rent in the case of non-residential property.

HT

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