Daily Real Estate News Digest (7th June 2019)

Maharashtra realtors told to reveal credit claims while striking deals.

The regulator’s direction assumes significance against the backdrop of increasing cases of joint development agreements or outright exit of promoters from projects owing to financial troubles.

ET Realty

DHFL commercial paper downgraded to 'default' by Icra, Crisil.

The rating of the company, which defaulted on a debt repayment earlier this week, has been removed from watch with negative implications by both the rating agencies.

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HSIIDC issues notices to DLF, Unitech, five others over Manesar land.

Haryana State Industry and Infrastructure Corporation (HSIIDC) has issued notices to seven developers  for not submitting details of their projects on the controversial 420 acres of land in Manesar as directed by the Supreme Court in March 12, 2018. 

ET Realty

Maharashtra gives 'big sop' for BIT chawls redevelopment, builders say good only on paper.

 The state cabinet approved the reduction of stamp duty to just Rs 1,000 for the rehab component. The duty is calculated at 112 times the monthly rent plus 6% of the construction cost of the rehab tenement.

ET Realty

RBI cuts lending rate by 25 basis points to 5.75%.

The repo rate has been reduced to 5.75% from previous 6%. The reverse repo rate was reduced to 5.50 percent.

ET Realty

Blackstone-Embassy JV to acquire stake in IBREL.

JV to buy Indiabulls promoter Gehlaut’s 39% stake in IBREL for ₹2,700 crore.

ET Realty

General Atlantic leads $51 mn funding round in NoBroker

Property listings portal NoBroker.com said on Thursday it has raised $51 million (around Rs 354 crore) in a Series C round of funding led by private equity firm General Atlantic.

VCC

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