Daily Real Estate News Digest (4th October 2019)

EoW arrests HDIL's managing director Sarang Wadhawan.

HDIL is also embroiled in the crisis at Punjab & Maharashtra Cooperative (PMC) Bank, where the later extended loans to the tune of Rs 6,500 crore without informing all the board members.

ET Realty

Commercial realty firms may raise Rs 1.5 lakh crore via REIT.

As many as 10 commercial real estate developers and operators have the potential to raise as much as Rs 1.5 lakh crore through the real estate investment trust (REIT) route by monetising 184 million sq ft space.

ET Realty

NCLT initiates insolvency proceedings against Mumbai's Kasata Hometech.

The financial creditor said that a debenture holders' representative agreement dated March 29, 2016 was entered into between Kasata Hometech India, Milestone Trusteeship Services and Karvy India Realty.

ET Realty

Only 2,500 register under new tenancy act in Tamil Nadu.

This despite the rule that those not registered under it cannot file cases with state government-constituted rent authorities that replaced rent courts.

ET Realty

Apollo Global to invest up to $150 million in Altico.

Apollo Global has approached Altico’s lenders directly with a proposal to take over the firm.


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