With a wealth of Rs 61,220 crore, Rajiv Singh of DLF, overtook Mangal Prabhat Lodha of Macrotech developers to become the wealthiest Indian real estate entrepreneur, according to GROHE-HURUN India Real Estate Rich List 2021. 81 real estate entrepreneurs increased their wealth this year, of which eight featured in the list for the first time … Read more
Shaoorji Pallonji and Co has repayed Rs 12,450 Cr to all its lenders to achieve an early OTR exit according to an official press statement from the company. “SPCPL on 31st March repaid all its lenders Rs 12,450 Cr to achieve an early exit from the COVID One-Time-Resolution (OTR) plan” the statement said. SPCPL’s OTR … Read more
Canada’s Brookfield Asset Management is looking to invest in new real estate asset classes in India including rental housing and serviced apartments, and also expand its office and hospitality portfolio, a top executive said. Brookfield owns 47 million sq. ft of office space across six cities in the country, and The Leela Hotels and Palaces … Read more
After days of Godrej Properties getting forced to withdraw from it’s proposed strategic partnership with DB Realty (DBR), the latter gets support from the ace investor, Rakesh Jhunjhunwala (RJ’s) and others. Key points to note – DBR was issuing 5 crore equity warrants to GP. The same quantum now will be instead issued to the … Read more
February 3, 2022 In recent times, after DLF and Lodha, Godrej Properties (GP) seems to be the next one with aggressive ambitions in the Indian Real Estate Sector. The Company has been on a spree of land acquisitions and product launches. Now it has announced a strategic partnership with D B Realty (DBR) to target … Read more
The Supreme Court on Wednesday slammed real estate developer Supertech over non-payment to the homebuyers for flats which were ordered to be demolished. A bench headed by Justice DY Chandrachud told Supertech to keep their office in order and to make the payment to home buyers by January 17. It said that no amount should … Read more
Lodha has indicated the following – Complete repayment of $225 mn bonds in the next 4 months. These were raised against it’s UK projects in March 2020 and are originally scheduled to be repaid by March 2023. However, they would be prepaid due to strong sales from UK projects during the last 2 quarters. Target … Read more
The Company has informed incorporating a new 100% step subsidiary, Ten X Realty Ltd (TXRL) to undertake the real estate business. Key points to note – What is step subsidiary – subsidiary of a wholly owned subsidiary. What would the step subsidiary do – business of development / joint development of land and properties other … Read more