Daily Real Estate News Digest (5th October 2019)

Bandhan Bank, Gruh Finance to merge on October 17.

The scheme has been approved by NCLT's Kolkata and Ahmedabad benches.October 17 has been fixed as the record date following the effectiveness of scheme for determining shareholders of the merged entity.

ET Realty

Quality check must for projects registered with MahaRERA.

Officials said all real estate projects registered after December 1, 2018, were required to fill in quarterly information on Form 2A, which would be uploaded at the end of every financial quarter.

ET Realty

Behind HDIL downfall lies a failed slum project that became financial drain.

A botched ₹6,500-crore MIAL project to rehab 80,000 families and in turn generate development rights of 43.4 million sq. ft of real estate began the end of HDIL.

Livemint


DHFL dangles equity conversion before lenders; Altico gets PE attention.

Two non-banking financial companies — Dewan Housing Finance Corporation Ltd (DHFL) and Altico Capital – are busy working out resolution plans for bankruptcy with lenders as India's financial sector woes continue.

VCC

$63 billion of stalled residential projects in India sound warning for banks.

The risks of exposure to real estate were underlined by the scandal surrounding HDIL.

Livemint

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