Daily Real Estate News Digest (28th Dec 2017)











MahaRERA directs Siddhitech Developer to reduce flat cost for carpet area shortfall

The MahaRERA directed Siddhitech Developer to reduce the flat cost after a home buyer complained that she was given a lower carpet area than what was promised when the flat was booked.

ET Realty

Gurugram civic body to auction 54 properties on December 28

In the run up to the auction of 102 properties for non-payment of property taxes, the MCG has already received the property tax dues from 46 of the total properties. Consequently, only 54 properties will be up on aution on Dec 28.

ET Realty

Kolte-Patil developers to raise Rs 193 crore from KKR for Pune township project


Kolte-Patil I-Ven Townships (KPIT) has entered into an agreement to raise Rs.193cr from KKR. The said company is joint Venture between Kolte-Patil & ICICI Venture Funds Management Company. KPIT is developing Life Republic, a 383-acre township located in Pune's Hinjewadi.

ET Realty

Kolte-Patil approves fund raising of up to Rs 500 crore


Kolte-Patil Developers has approved raising up to Rs.500cr by various modes including issue of NCDs, equity shares or any other convertible securities. The company also approved merger of Bellflower Properties.

ET Realty

Prestige Group buys back Red Fort Capital's stake in Bangalore project


Prestige Group has brought back a 66.66% stake from Red Fort Capital & landowners for Rs.324cr. Prestige Group now fully owns Prestige Projects. 

VC Circle

Ahmedabad realtor group launches Rs 60-crore AIF


Ahmedabad realtors has launched a category-2 Alternative Investment Fund (AIF), one of the first of its kind, to finance real estate projects in Gujarat, Pune, Mumbai & Bengaluru in the commercial & industrial space. 

Business Line

K. Raheja Corp to invest Rs1,200 crore to develop IT Parks in Chennai


K. Raheja Corp is investing Rs.1,200cr in building around 3 million sq.ft. of office space in Chennai as part of its plan to ramp up its business in the southern part of the country.


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