Daily Real Estate News Digest (3rd October 2019)

WeWork India focused on expansion with accelerated path to profitability: Embassy Group.

Realty firm Embassy Group, which owns WeWork India, on Tuesday said there will be no impact on the Indian operation of co-working business due to deferment of initial public offering of US-based WeWork.

ET Realty

Reliance Nippon AMC moves to Bombay HC to recover Rs 478 crore from DHFL.

The counsel for DHFL said the company defaulted on the payment of about Rs 200 crore in the month of May.

ET Realty

NCLT initiates insolvency process against DS Kulkarni Developers.

The sole public limited company of jailed developer D S Kulkarni, alias DSK, after admitting a petition for the same by the Bank of Maharashtra (BoM) over a default of Rs119.48crore debt by the firm.

ET Realty


Lodha constructing Rs.13,000 cr worth commercial assets; may launch REIT in 3 years .

The Mumbai-based developer has completed 2 million sq ft office space valuing Rs 2,000 crore. It recently sold office properties worth Rs 1,350 crore.

ET Realty

PMC Bank created over 21,000 fake accounts to hide loans.

The PMC Bank case has sparked renewed concerns about the health of India’s troubled banking sector.

TOI

DLF settles ₹8,700 crore amount payable to JV with GIC.

DLF settles entire ₹8,700 cr amount payable to DCCDL by transferring various completed commercial properties, land parcels as well as cash payment.

Livemint

Rule change hits building projects across Chennai.

About 30 projects to build three lakh square feet of office and commercial space at various places in the city, valued at around Rs. 300 crore, are stuck because the words ‘mixed residential’ were left out of the new rules governing building permissions.

TOI

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