Daily Real Estate News Digest (30th January 2019)

DHFL siphoned off Rs 31,000 crore of public money, claims Cobrapost

A news website Cobrapost on Tuesday claimed that primary promoters of DHFL, siphoned off over Rs 31,000 crore of public money through loans and advances to shell companies and other means to create private wealth for themselves.

ET Realty

Centre, Uttar Pradesh eye surplus land to build three lakh delayed Noida flats

The Centre and the Uttar Pradesh government are looking to tap the unutilised land available with developers of delayed projects in Noida and Greater Noida, as well as setting up a dedicated fund to release stress and speed up delivery of nearly three lakh apartments.

ET Realty

Standing committee of Pune civic body rejects 12% hike in property tax

The standing committee of the Pune Municipal Corporation rejected the property tax hike proposed by the municipal commissioner in the draft budget. 

ET Realty

Investcorp acquires IDFC’s private equity, realty investment management business

Investcorp has acquired IDFC Group’s private equity and real estate investment management business and plans to incrementally raise $50 million towards IDFC’s existing fourth fund.

ET Realty

Oyo in advanced talks to acquire Innov8 for Rs 200 crore

Oyo is in “very advanced” stages of acquiring co-working space company Innov8 for about `200 crores in an all-cash deal

ET Realty

Realtors offer more ready flats at affordable rates

Realty developers are aligning their business strategies with market realities by offering more ready-to-move-in apartments with affordable ticket prices. Of the total 6.73 lakh units of unsold housing inventory, nearly 85,000 units are currently ready-to-move-in across the top 7 cities, out of these total unsold ready-to-move options, nearly 60% of the units are in the affordable and mid segments priced below Rs 80 lakh, showed data from Anarock Property Consultants.

Economics Times

Consumer forum directs Pune builder to refund Rs 10.39 lakh to homebuyer with 9% interest

The Additional District Consumer Disputes Redressal Forum, Pune directed a real estate developer Phadnis Properties Ltd to refund Rs 10.39 lakh with 9% interest to a homebuyer along with Rs 30,000 as compensation for causing inconvenience, mental agony and harassment over the delay in handing over the possession of a flat as per the timeline.

Hindustan Times

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