Daily Real Estate News Digest (26th December 2019)

Maharashtra, ED reply sought on plea alleging Rs 22,000 crore SRA scam by Omkar & Golden Age

The petition, filed by city resident Imran Yusuf Khan, alleged that Omkar Group of Companies and Golden Age Group of Companies have fabricated and forged documents in the name of slum-dwellers and, in collusion with the Slum Rehabilitation Authority (SRA), obtained Letter of Intent (LoI).

ET Realty

Lodha in race against time to raise funds to meet debt obligations

The group, which has renamed itself as Macrotech Developers Ltd, has been reaching out to overseas investors, including several existing ones, to raise funds.  As much as $325 million worth of bonds are maturing by March.

Livemint

BAI gets SRO certification from MahaRERA

The Builders Association of India (BAI), the apex body of Engineering Construction Contractors and Real Estate companies, has received MahaRERA certification as a registered Self-Regulatory Organisation (SRO).

The Hindu


MRG World to invest Rs 200 cr to build another affordable housing project

MRG World has launched a new residential project ''Ultimus'' in Gurugram, Haryana. The company will construct 720 apartments in this 5-acre project, the company said in a statement. The selling price has been fixed at Rs 4,000 per sq ft and will be priced between Rs 23.4 lakh and Rs 26.8 lakh.

Outlook

NCDs preferred route for government AIF to invest in stuck realty projects

​The government’s alternate investment fund (AIF) worth ₹25,000 crore, aiming to offer lastmile funding to stuck housing projects, will be investing in them through non-convertible debentures (NCDs), and hopes to generate 15-17% returns.

ET Realty

NCDRC orders Mumbai's Vaidehi Akash Housing to pay Rs 2 crore for not delivering flats

National Consumer Commission recently ordered a city developer and the firm’s director to pay a total compensation of nearly Rs 1.4 crore to a Gamdevi company, which had paid Rs 60 lakh for a flat for its director in 2008 but never got possession.

ET Realty

WeWork India leases 2.3 lakh sq ft office space in Mumbai

New York-headquartered collaborative workspace major WeWork’s India arm has picked up nearly 2.3 lakh sq ft office space at Nesco IT Park in Goregaon suburb of Mumbai on a long-term lease.

ET Realty

Leave a Reply

Your email address will not be published. Required fields are marked *