Standard Chartered Bank has sold a commercial property in Mumbai's Bandra Kurla Complex. Advanced Realty acquired the office space for Rs 197 crore. The transaction highlights a trend of corporates rebalancing their real estate portfolios. This move allows for capital unlocking and a shift towards asset-light strategies. BKC remains a prime office location. Source link...
The Supreme Court has underscored that renting a residential flat does not disqualify buyers from being considered consumers. Builders are now obligated to demonstrate that a property was acquired with commercial intentions to negate consumer rights. Source link...
The Supreme Court has directed NBCC to swiftly complete 16 Supertech housing projects. Financial and operational creditors will have their dues addressed after project completion. Tribunals and high courts are restrained from hindering this crucial work. Source link...
Angel investor Radha Tanti has purchased a luxury apartment in Mumbai's Worli for Rs 123.5 crore. The 6,772 sq ft residence is located on the 44th floor of the Artesia tower. This high-value transaction highlights the continued strength of Mumbai's luxury housing market, driven by limited supply and strong buyer demand. Source link...
Nexus Select Trust has secured ₹7 billion from a 10-year sustainability-linked bond issuance. The International Finance Corporation is the anchor investor. This issuance will help refinance existing debt, leading to significant interest savings. The bonds are linked to ambitious sustainability targets, including net-zero emissions by 2030. Source link...
CapitaLand India Trust has raised ₹915 crore in its first onshore bond issuance. This move aims to boost unit distributions and increase its India loan book to 40-50%. The company is expanding its office and data center portfolios. Upcoming projects include a new office space in Bengaluru and redevelopment in Hyderabad. Source link...
DLF has finalized the sale of its Kolkata IT/ITeS SEZ property along with an adjacent land parcel, valued at around ₹670 crore. The purchasers, Makalu Builders LLP and Gangapurna Projects LLP, both operating under Srijan Realty, are poised to wrap up the deal in the next four months. Source link...
A Delhi court has officially recognized the chargesheet against M3M India Pvt Ltd and its promoters, linked to allegations of land fraud with MGF Developments Ltd. This intricate case involves a disputed land exchange in Gurugram, highlighting competing ownership claims in Chauma village. Source link...
The Supreme Court is scrutinizing a Bombay High Court ruling that green-lights slum rehabilitation on land designated for parks and recreational areas. Critics contend that this encroachment jeopardizes Mumbai's precious open spaces. The High Court previously endorsed a regulation allowing such projects, provided a portion of the land is reinstated for public access. Source link...
The Supreme Court has affirmed the initiation of insolvency proceedings against Bhasin Infotech and Grand Venezia. This ruling stands as a firm defense of the rights of both homebuyers and commercial investors, highlighting the developers' failure to deliver promised functional units and their misleading communications. Source link...