Debenture holders’ plea to NCLT against Peninsula not admitted

As per the newspaper reports, debenture holders have approached NCLT invoking insolvency proceeding against Peninsula Land (PL). Plea is due to default by one of the SPVs of PL on it’s payment obligations towards the debenture holders in July 2021. Debenture holders had invoked corporate guarantees worth Rs 117 crore provided by PL. As per … Read more

‘Story of Noida twin towers’: What led to demolition of Supertech buildings

The Supertech Twin Towers in Noida, also deemed as the India’s tallest building Noida Twin Towers, will be demolished on 28 August, Sunday following a directive from the Supreme Court of India. The final check-up of explosives and related arrangements for the demolition of the Noida twin towers are underway on Saturday, the project officials … Read more

Arvind SmarSpaces and HDFC RE Fund partner for residential development.

Arvind SmartSpaces Limited (ASL) and HDFC Capital Advisors (HDFC) have partnered to create a separate platform for the residential development. Key points to note – Subject platform will be a 100% subsidiary of ASL. Total fund infusion is envisaged at Rs 900 crore in multiple tranches as and when required Rs 300 crore from ASL … Read more

MahaRERA further tightens norms for developers

In a move to bring a higher degree of transparency, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued instructions making it mandatory for developers to share updates on ongoing projects online on a quarterly and yearly basis besides other requirements. This move is expected to help homebuyers to track the progress of their real … Read more

Brookfield to invest in new asset classes

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

Godrej Properties wanted to get aggressive on the redevelopment projects in Mumbai. Announced collaboration with DB Realty. Then withdraws from the transaction the next day.

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