Daily Real Estate News Digest (20th Dec 2017)

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Allahabad Bank to auction RNA Corp's Mumbai HQ to recover dues

RNA Corporate Park in Kalanagar to be auctioned by Allahabad Bank to recover dues of Rs.88.08cr.

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New Cuffe Parade builder relief as HC stays Rs 270-crore stamp duty penalty demand

The Bombay HC has stayed a demand of a Rs.270cr stamp duty penalty in connection with development of a project branded as New Cuffe Parade on Wadala Truck Terminal land restrained the government from taking any coercive steps to recover the amount from the Lodha Group.  

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Viviana Mall rent monetisation fetches Sheth-GIC entity Rs 600 crore

Viviana Mall jointly owned by GIC & Sheth Group has raised Rs.600cr by monetising rental incomes. It was country's largest lease rental discounting transaction this year.

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Cinnamon Capital sells nearly 2% in Indiabulls real estate

Cinnamon Capital has sold nearly 2% stake in Indiabulls Real Estate between Oct 25 & Dec 15

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JP Morgan unit to exit maiden India-focused real estate fund

JP Morgan is preparing to exit all 4 remaining investment made from its first India-focused realty fund. It had raised $360 million from institutional investors & HNI across global markets. It will exit investments in Nitesh Estates, Assets Property Group, Vaswani Group & Kolte Patil.

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