Equinox Realty,an arm of oli-to-steel conglomerate Essar Group,plans to sell a minority stake in its biggest commercial asset in Mumbai to raise between 7.5 billion rupees and 10 billion rupees, sources close to the development said.
The Reserve Bank’s decision to raise key policy rates by 25 basis points today is likely to have a negative impact on the real estate sector.
Equinox Realty, the property development arm of Essar group, has announced plans to invest around Rs 4,000 crore to develop residential units across the country.