Kotak Investment Advisors Limited (KIAL) on Tuesday announced that the company has secured an anchor investment of $500 million from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for its 13th Real Estate (RE) Fund, a $1 billion platform targeting real estate investments in India. With this new fund, KIAL has raised, … Read more
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
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 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
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
Indian real estate ended the last fiscal at a very strong footing, registering one of the highest growths in recent times. As per Knight and Frank’s report, in Q4 FY 22, the eight major cities in India posted a total sales of ~ 78,600 units, the highest in the last 4 years. The quarterly sales … Read more
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
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