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ASK partners with Sushil Mantri in a residential project in Bengaluru

ASK Property Investment Advisors (ASKPIA), the real-estate private equity arm of ASK Group announced on Wednesday, Sep 12, an investment in an affordable luxury residential project in the heart of Bengaluru city. The project which is around Rs.450 crore, is located in central Bengaluru’s prime area opposite the 240 acre Lalbagh green space. ASK Fund’s investment will be to the tune of Rs. 100 crores in the Special Purpose Vehicle set up for executing this project.

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Century Real Estate raises Rs 40 cr from Reliance Capital

Century Real Estate has reportedly raised Rs 40 crore from Reliance Capital and will raise another Rs 160 crore from the Anil Ambani promoted firm for its upcoming residential projects. According to reports the deal was closed last week and will be a structured transaction, which includes private placement of non-convertible debentures (NCD) and equity component.

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MCHI-CREDAI to look for best VAT calculation

The Maharashtra Chamber of Housing Industry (MCHI)-CREDAI has set up a four-member committee to look for the best option for developers to compute Value Added Tax (VAT) and, in turn, pass it on to buyers who purchased flats between 2006 and 2010.

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Kerala CM warns investors with real estate motives

Kerala Chief Minister Oommen Chandy has said that investors, who attend the Emerging Kerala meet, with real estate motives will have to return empty handed. “Not an inch of land will be sold for projects approved in the meet. Can you think any secret business deal is possible in Kerala?,” he asked the editors of various media organisations in the state during an interaction ahead of the Emerging Kerala meet on Thursday, Sep 6.

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Sahara Group clarifies after Supreme Court verdict

The Sahara Group has clarified their stand in public after the jolt by the Supreme Court asking them to refund within three months Rs. 24,029 crore it had collected between 2008 and 2011 from over 2.96 crore investors, flouting mandatory regulatory provisions and the Company Act. In the wake of media onslaught after the Court asked two Sahara Companies to pay 15% interest on the amount, the Group in a statement has following version in its defence.

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