The RBI on Thursday, Nov 3, asked banks to bring in a disclosure clause under which commercial real estate players will also have to mention in their advertisements the name of the bank to which a property has been mortgaged.
Ackruti City is in talks with a couple of private equity (PE) lenders to raise around Rs.150 crore by selling around 25% in its proposed redevelopment project in Chembur, north eastern suburb of Mumbai.
Nitesh Estates has signed up a Rs.3bn residential project, at a strategic location accessible from Outer Ring Road as well as Sarjapur Road in Bangalore.
The impact of slowdown is already being felt on the real estate market with residential segment witnessing sluggish demand across all the major cities.
HDFC Realty, the private equity arm of Housing Development Finance Corporation, is in talks with the world’s largest sovereign funds to raise its fourth real estate fund.
Morgan Stanley Real Estate Investing Managing Director Naresh Naik has resigned to set up a real estate fund house that will invest exclusively in India.
Housing Development Finance Corp. will invest about Rs.2 billion ($41 million) in one of the projects of New Delhi-based real estate developer ATS Infrastructure Ltd, sources close to the development said.
Property rates in the capital are set to zoom further as Delhi Government on Monday, October 31, hiked the circle rates by up to 250 per cent to check black money in sale and purchase transactions.
Mumbai’s residential home sales recovered from a 30-month low in the third quarter as new projects boosted supply, according to Liases Foras Real Estate Rating & Research Pvt.
Mukesh Ambani’s wife Nita Ambani and his associate Manoj Modi joined the Board of Directors of EIH, the parent of the Oberoi Hotels chain that includes Calcutta’s Grand Hotel, on Monday, Oct 31.