Daily Real Estate News Digest (3rd January 2020)

MahaRERA says industrial units not under purview

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has in a recent order held that industrial units or buildings part of such units would not come under the purview of the Real Estate (Regulation and Development) Act, 2016.

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IndoSpace launches three industrial, logistics parks

Everstone-backed IndoSpace on Thursday launched three industrial and logistics parks in Gujarat, Andhra Pradesh and Haryana. With this, the company has added nearly 120 acres of space, which will boost IndoSpace to grow its footprint across significant regions and achieve its long-term goal of 120 million sqft of modern logistics infrastructure across the country.

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Co-living firms partner with realty companies for customised spaces

 Co-living startups such as ZoloStays, Co-live, Hello World, Oyo Life and Stanza Living are partnering with real estate developers and retail asset owners to construct customised buildings, with the promise of rental yields of as high as 9%.

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Piramal’s realty fund exits Skylark SPV

Ajay Piramal-backed Piramal Capital and Housing Finance’s Indiareit Fund V, which invests in domestic realty projects, has exited Skylark Developers’ special purpose vehicle (SPV), which held a commercial land parcel in the central business district (CBD) of Bengaluru.


IL&FS plans to sell real estate assets, Gift City stake

​Infrastructure Leasing & Financial Services Ltd (IL&FS) is planning to sell its real estate assets worth Rs 3,500 crore ($490.53 million) and also its stakes in Gujarat International Finance Tec-City (Gift City) valuing approximately Rs 1,200 crore .


Puravankara to invest Rs 125 cr for developing housing project in Pune

The company said it will construct 236 apartments in this four-acre project ''Purva Aspire'' and is expecting a revenue of Rs 200-250 crore.


HDIL 'made profits' but didn't repay debts

The money-laundering probe in the Punjab & Maharashtra Co-operative (PMC) Bank scam has revealed that Housing Development Infrastructure Limited (HDIL) did not repay its outstanding dues to the bank despite reporting profits in its balance sheets year after year.

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FIR filed against Mumbai-based Zoy Shelcon over stalled redevelopment

 An FIR alleging cheating has been lodged against a developer at Khar police station in connection with a redevelopment project still left incomplete after 10 years. 

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