Daily Real Estate News Digest (19th October 2019)

HDIL appoints Knight Frank to value 40 land assets.

While the principal loan on these assets is around Rs 2,200 crore, PMC Bank has been accused of fraudulently extending Rs 4,500 crore to HDIL on the back of security of these properties. Knight Frank will have to submit its report in 7-10 days.

ET Realty

Aayas Trade moves NCLT against Mantri Developers.

A notice alleged that Mantri received advances of over Rs 530 crore from Aayas/ Elbit for a real estate project in Bengaluru, but failed to perform its contractual obligations or return the money to Aayas / Elbit even after more than a decade.

ET Realty

Sebi to auction Sai Prasad Group's 200 properties in November.

Sebi said it will auction 90 properties in Madhya Pradesh, 62 in Odisha and 46 in Maharashtra at a total reserve price of over Rs 74 crore.

ET Realty


Honeywell aims to digitally transform commercial buildings in India.

The advent of Internet of Things (IoT) and smart technologies is leading the commercial real estate industry to push its boundaries and move towards its long-term goal of achieving self-operating autonomous buildings.

Livemint

Iqbal Mirchi Links: Dheeraj Wadhawan of DHFL is  Dheeraj Dewan of RKW Developers .

Shockingly the Rs 2186 loaned to Sunblink linked to Iqbal Mirchi and used for terror financing as stated by ED, reflects in the financial documents of Dewan Housing Finance Limited (DHFL) though ED has not revealed the name of the NBFC yet.

Goa Chronicle

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