real estate

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

SC slams Supertech for non-payment to home buyers

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 predicts significant debt reduction by March 2023

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

Raymond seems to be going big on real estate

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

CPPIB further deepens it’s relationship with Phoenix. Commits more funds.

Phoenix Mills Ltd (PML) and Canada Pension Plan Investment Board (CPPIB) have entered into a new joint venture agreement to co-develop an office-led, mixed-use asset, which is part of Phoenix Palladium in Mumbai’s Lower Parel. Key points to note – CPPIB will invest Rs 1,350 crore in tranches for a 49% stake in the joint … Read more

Macrotech raising 4000 crore equity from institutional investors

Macrotech Developers (Lodha Group) is raising about Rs 4,000 crore equity through preferential placement to the institutional investors. Key points to note – Issue comprises of 3.4 crore fresh issues of shares at floor price of Rs 1184.7/ share It would entail 7.5% dilution of the existing shareholders Objective of the fund raise is wide … Read more

Finance Ministry to seek Cabinet nod for setting up company to monetise land assets of CPSEs

A special purpose vehicle (SPV) in the form of a company would be set up to hold these assets which would be monetised to fetch value to the exchequer The Finance Ministry will soon move the Cabinet to seek approval for setting up a company for transfer and subsequent monetisation of land and non-core assets … Read more

Godrej Properties achieves highest single day sales at launch of Noida proj

Property developer Godrej Properties on Wednesday said it achieved sales of Rs 575 crore in a single day at the launch of the second phase of its project Godrej Woods in Noida. Godrej Properties said it sold 340 homes with an area of more than half a million square feet on the first day of … Read more

Supreme Court orders demolition of Supertech twin towers in Noida

Ordering the demolition of the 40-storey residential towers of Supertech in Noida, the Supreme Court on August 31 condemned the “dubious dealings” entered into by builders and authorities in metros across the country in brazen violation of the laws while showing scant concern about either the safety of the environment or the welfare of residents. … Read more