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Tata Realty exits two non-strategic assets for Rs 700 cr

The Tata Group company has sold these malls to private equity firm Xander Group’ retail arm Virtuous Retail for around Rs 700 crore, said two persons familiar with the development. The transaction would provide an exit to Tata Realty’s maiden fund Tata Realty Initiatives Fund I that had invested in these assets through its corpus of $750 million.

Bharti Realty talks to French chain Lafayette for 1st store

The company has also held discussions with Cupertino based tech giant Apple for what could be the iPhone maker’s second flagship store in the country to be located at Aerocity near IGI Airport, sources said.

Suraksha Realty hopeful of getting favourable vote of lenders, home buyers on Jaypee bid

A Committee of Creditors (CoC) on Saturday decided that home buyers and lenders of Jaypee Infratech will vote on the bids of state-owned NBCC Ltd and private sector firm Suraksha Realty at the same time.

Godrej Fund Management to invest Rs 700 crore in Century’s commercial project

The proposed investment will be in a commercial project in north Bengaluru spread over 10 acres with a development potential of 2-3 mn sft. “The deal is in the final stage of closure and will mark GFM’s foray in the commercial market in Bengaluru,” said a person aware of the deal.

Simultaneous voting for Jaypee Infratech starts from December 10

In a meeting with lenders, it has been decided to start the voting on Dec 10 and it will go on till Dec 16. Since there was dispute among lenders over whether NBCC or Suraksha realty should be put to vote first, the CoC has decided for simultaneous voting, two persons aware of the matter said.

Gaurs Group to invest Rs 750 cr on new commercial project in Greater Noida

Gaurs Group has recently completed the construction of 'Gaur City Mall' comprising 15 lakh sq ft area with an investment of Rs 750 crore in Greater Noida.

Puravankara forays into uber luxury residential business

Real estate firm Puravankara has entered the uber luxury real estate segment under the Purva WorldHome collection brand, targeted at a niche demographic of home buyers.

Jaypee Infratech auction: Homebuyers' voting on hold

Over 22,000 Jaypee Infratech homebuyers had opted for internal voting that started on Wednesday, but it was put on hold after some buyers raised objection on the legality of it. The buyers have also approached the Insolvency and Bankruptcy Board of India regarding the internal voting issue.

Speed up execution of relief measures: Realtors

The real estate sector is seeking emergency lifeline from the government that has announced several measures, but the actual implementation of these steps is yet to gather pace.

UP RERA asks developers to apply for stress fund

Central government has proposed Rs 25,000 crore stress fund out of which Government of India shall infuse up to Rs 10,000 crore and the rest shall be contributed by Banks, LIC and other sources.

Nirlon inks Real Estate Transaction with JP Morgan

Nirlon inks Real Estate Transaction with JP Morgan

J.P. Morgan will take up about 1.15 million sq. ft. of office space that is expected to be delivered by the second quarter of 2021, the company said in release. NKP has a site area of 23 acres and is located on Mumbai’s Western Express Highway in Goregaon.

JSW Infra lends support to Suraksha Realty in turnaround of Jaypee Infratech

JSW Infra lends support to Suraksha Realty in turnaround of Jaypee Infratech

JSW Infra said it has issued a letter of support to Suraksha Realty to give financial, strategic and technical assistance in the delivery of pending flats to Jaypee homebuyers within the timeframe. Suraksha Realty and state-run NBCC on Tuesday submitted their final bids to acquire bankrupt realtor Jaypee Infratech through the insolvency process.

RBI keeps repo rate unchanged, real estate sector disappointed

RBI keeps repo rate unchanged, real estate sector disappointed

In five successive reductions so far in 2019, the Reserve Bank of India has cut interest rates by a cumulative 135 basis points since February in an attempt to bolster growth and also liquidity in the financial system. With no reduction today, the cumulative decrease in repo rate stands at which banks borrow from it—remains unchanged at 5.15%.

Delhi, NCR commercial developers hit hard

Delhi, NCR commercial developers hit hard

Companies facing up to Rs 1-crore loss a day due to SC’s construction ban in the wake of rise in air pollution. The worst affected are malls, which are losing not only rentals but also business for retailers during the seasonal sale

Realtors challenge constitutional validity of National Anti-profiteering Authority

Realtors challenge constitutional validity of National Anti-profiteering Authority

Input tax credit refers to a mechanism under the GST framework wherein the tax a company pays when it buys raw materials or other services can be passed on to the buyer when the goods or services are sold. Many real estate developers were asked to pay penalties as they did not pass on the benefits of the input tax credit to the customers.

SC dismisses plea by Rustomjee arm Keystone against NGT order

SC dismisses plea by Rustomjee arm Keystone against NGT order

A bench of Justices DY Chandrachud and Ajay Rastogi has upheld NGT’s order in February 2019 penalising the developer for expanding the project’s size without complying with procedure.

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