Daily Real Estate News Digest (20th November 2019)

Yes Bank acquires 20.6% in Tulip Star Hotels

Tulip Star Hotels, owns a prime sea-facing five-star hotel property in Juhu, Mumbai of the same name.

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Nomura Holdings renews lease of over 4.5 lakh sq ft office in Mumbai.

Japanese financial services major Nomura Holdings has entered into an agreement with Brookfield Asset Management for renewal of its lease for the over 450,000-sq ft office space it occupies in Winchester commercial tower in Mumbai’s Powai suburb two years ahead of its expiry.

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Smartworks signs India’s largest co-working space deal in Pune.

Smartworks, India’s leading agile workspace provider for large enterprises has leased 500,000 sq ft space in an upcoming project Amar Pristine Eighty-Three  in Koregaon Park, Pune with Amar Builders, and Pristine Properties.


Top PMC officials hid HDIL accounts from system: RBI to Bombay HC.

The RBI is closely monitoring the situation at the bank and a forensic audit is underway.

India Today

Homebuyers have filed over 1,800 cases under IBC: Government.

​​Homebuyers have filed more than 1,800 cases against builders under the Insolvency and Bankruptcy Code (IBC) since June 2018.

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SC directs Bhasin Group's promoter to deposit Rs 50 crore for bail.

The director, Satinder Singh Bhasin, is behind bars since February and facing probe in cases filed by investors who alleged that they were not handed over possession of their commercial space in the malls and other projects despite paying the amount.

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Officials discuss ways to expedite sale of HDIL assets.

The assets belong to Housing Development & Infrastructure Limited (HDIL), which is accused of causing a loss of around Rs 4,335.46 crore to the bank by way of unpaid loans since 2008, and accused persons in the case.

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