Daily Real Estate News Digest (29th Nov 2017)










JSW's Jaypee deal may hit after new IBC ordinance

JSW's interest in acquiring a stake in Jaypee Associates to bid for Jaypee Infratech is likely to take a hit with the coming of the new ordinance that prohibits collaborations with defaulting promoters to bid for assets.

ET Realty

Lodha Group arm raises $125 million through bond issue

Lodha Developer International has priced a $125 million tap of its 2020 bonds at a yield of 8.89%, lowering it borrowing cost by 3.1% compared to earlier bond sale.   

ET Realty

Ambani's Antilia land sale illegal, says Maha Waqf Board

More than 12 yrs after the state Waqf Board ratified sale of land on which Mukesh Ambani's pvt residence Antilia stands in South Mumbai, the board has termed the sale illegal & sought restoration of the land. 

ET Realty

DLF to mull over share warrant, QIP issue on Friday

The board of directors of DLF is set to meet on Friday to discuss capital infusion in the company through issuance of warrants & QIP. 

ET Realty

SpiceJet sets up subsidiary for real estate business

SpiceJet has incorporated a wholly-owned subsidiary 'Canvin Real Estate Pvt. Ltd.' that would engage in real estate business.  

ET Realty

Shriram Properties in talks with ASK to raise Rs. 1,000 crore

Shriram Properties is in talks with Ask Group to raise about Rs. 1,000 cr for setting up a platform which will buy out distressed assets from builders who have been negatively impacted due to demonetisation & the RERA. 

ET Realty

MahaRERA appellate tribunal's absence force Mumbai home buyers to move HC

After taking a commendable lead in the implementation of RERA, that come into effect on May 1st last yr, it was mandated to establish an appellate tribunal within a yr.  Unfortunately, even after the stipulated period, tribunal is not in place. The complainants are unnecessarily dragged to court to defend MahaRERA orders, which is quite an expensive & cumbersome exercise for harassed home-buyers.

ET Realty

HDFC, arm invest Rs. 1,000 crore in Radius Developers' Mumbai housing projects

HDFC & HDFC Capital have together invested Rs. 1,000 cr in Radius Developers 2 residential projects in Mumbai. HDFC has invested nearly Rs. 600 cr in 'X BKC' & HDFC Capital invested about Rs. 400 cr in project Anantya in Chembur. 

ET Realty

MahaRERA notifications:-

Praful Prakash Pawar Vs Ekta Praksville Homes

Mr. Praful had booked a flat in June 2016. As per the registered agreement, the fit out date was 30th April 2017. However, till date, he has not received fit out possession. There is no provision for giving possession before OC. The committed possession in the agreement is 30th April 2019. If the developer fails to give possession in time than he is liable to pay interest to the buyer.

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