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 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
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
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
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
In Gurugram and plans to launch more such projects as demand for premium residential properties has revived in last few months. The company plans to launch independent floors in DLF Phase I-IV at Gurugram, New Gurugram and Panchkula among others. “Recently we launched 88 residences in form of premium independent floors (at a price point … Read more
The government’s move to allow primary or first sale of housing units costing up to Rs 2 crore at a price 20 per cent below the stamp duty circle rate would enable real estate developers to liquidate their unsold inventory and also benefit homebuyers, the finance ministry said on Friday. The Aatmanirbhar Bharat 3.0 package … Read more
At first read, the presented arguments may sound counter intuitive. However, think carefully and you might agree.
The deal is in the form of structured debt. The investments were made from HDFC Capital Affordable Real Estate Fund (Hcare fund 1 & 2) which has a corpus of $ 1.1 billion. Abu Dhabi sovereign fund ADIA is a key investor in the fund. In the first investment by any private equity fund manager … Read more