Daily Real Estate News Digest (7th October 2019)

Niharika Infrastructure accuses ex-staffers of selling Rs 300 crore Hyderabad palace.

 A Mumbai-based construction company has accused two of its ex-employees of transferring a Rs 300-crore palace in Hyderabad behind its back to a Kashmir hotelier.

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In talks with investors for equity infusion: Reliance Home Finance.

Reliance Home Finance Ltd (RHFL) on Friday said it is in discussion with several investors for equity infusion, amid tight financial conditions plaguing the industry for the past few months.

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Embassy Industrial Parks to invest USD 300 mn to build logistic, warehousing projects.

The company, a joint venture between realty firm Embassy group and private equity firm Warburg Pincus, is developing industrial and warehousing parks in Chakan (Pune); Bilaspur and Farrukhnagar (NCR); Sriperumbudur and Hasur (Tamil Nadu); and Hyderabad in phased manner.

Livemint


Piramal turns to securitisation of real estate loans to raise cash.

Two subsidiaries of Piramal Enterprises are looking to raise over Rs 2,372 crore by issuing the country’s first asset backed securities, where the underlying asset will be wholesale loans to real estate developers.

FE

3,000 buildings in Manjari built using 'fake' documents.

In major violation of Supreme Court’s and Bombay High Court’s directive on illegal constructions, 3,000 buildings in Manjari Budruk located in Hadapsar have been found to have flouted construction norms and erected by obtaining fabricated, backdated commencement certificate and building plans

Pune Mirror

Greater Noida development body demands more money for plots bought 20 years ago.

According to the notification, people will have to deposit this amount in four instalments on per quarter basis in a year.

ET Realty

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