Daily Real Estate News Digest (4th April 2019)

Blackstone to pick up a 60% stake in One BKC for Rs 2,500 crore.

 A Bombay HC interim order last week has paved the way for the biggest deal in Mumbai for a single building. The deal between global real estate investor Blackstone and Radius Developers for the building in Bandra-Kurla Complex is believed to be worth nearly Rs2,500 crore.

ET Realty

Brookfield shuts realty advisory arm in India.

 Brookfield has shut its property management services in India and retrenched about 20 executives in Mumbai and Bangalore as part of broader plans by the Canadian alternative asset manager to exit this line of business globally.

ET Realty

Godrej Properties inks JV for 4.2-acre residential project in Mumbai.

 Godrej Properties has entered into a joint venture with a realty developer to develop a 4.25 acres sea-facing property in Bandra suburb of Mumbai. 

ET Realty

India to get first Raffles, luxury hotels to open in Udaipur and Jaipur.

The first Raffles will be located on an island amid Udaipur’s lush Udaisagar lake and will open in mid-2020. The second will be ready by 2022 in Jaipur.


Manesar land scam: Realtor to be declared absconder.

A special CBI court on Wednesday started proceedings to declare realtor Atul Bansal absconding in a multi-crore rupee Manesar land scam involving Haryana's former Chief Minister Bhupinder Singh Hooda.

Business Standard

JLL India Launches Home Purhase Affordability Index.

The Index signifies whether a household earning an average annual income is eligible for a housing loan to buy a 1,000 sq ft residential property in the city, at the prevailing market price and home loan interest rate.

Business Standard

Kalyan-Dombivli civic body property tax collection at record high.

The KDMC's hectic tax collection drive has led it to recover a record Rs 633 crore in tax this year which is Rs 164 crore higher than last year during which civic body has recovered Rs 469 crore tax.

Et Realty

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