Daily Real Estate News Digest (21th August 2019)

DHFL parent to sell loan distribution unit.

Dewan Housing Finance Corp. Ltd (DHFL)’s parent Wadhawan Global Capital (WGC) is selling its loan distribution business to a London-based metal trading firm for around Rs 150 crore.


NCLT admits application for initiating insolvency proceedings against HDIL.

The NCLT today admitted an application filed by Bank of India to initiate insolvency proceedings against debt-ridden realty firm HDIL.


Cidco clears plan for low-cost homes in Navi Mumbai.

Cidco board on Tuesday approved a Rs 19,000-crore plan to build 94,000 affordable houses/flats. 


Mumbai: Over 500 residents of BDD chawls receive notices.

Many residents of the BDD chawls fear that they won’t be eligible to get a tenement under the redevelopment of BDD chawls as more than 500 of them have received notices from the Anti-Corruption Bureau (ACB) asking them to prove that the transfer of tenements in their names is legitimate.

ET Realty

Mahindra Finance to acquire majority stake in Sri Lankan NBFC.

The Mumbai-headquartered company said it would acquire up to 58.20% stake of Ideal Finance for Rs 80.77 crore.


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