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MahaRERA deregisters three projects in Mumbai, one in Pune

Saturday 21st October 2023

MahaRERA (Maharashtra Real Estate Regulatory Authority) has canceled the registration of seven projects in the state. This decision came after developers cited financial difficulties and poor responses to their projects. Among these projects, one is from Pune, three from Mumbai, two from Thane, and one from Sindhudurg. The Pune project is located in the Karvenagar area. ...

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Lake Shore India invests Rs 415 crore in 3.3 lakh sq ft mall in Pune

Saturday 21st October 2023

Lake Shore India has invested around Rs 415 crore in its first mall located in Koregaon Park. The real estate investment manager acquired this property in 2019. The mall spans over 3.3 lakh square feet and houses a collection of 100 brands, including renowned luxury brands such as Michael Kors, West Elm, White Crow, Victoria's Secret, Nappa Dori, Hugo Boss, Brooks Brothers, and Tumi in anchor spaces. ...

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Lake Shore India invests Rs 415 crore in 3.3 lakh sq ft mall in Pune

Saturday 21st October 2023

Lake Shore India has invested around Rs 415 crore in its first mall located in Koregaon Park. The real estate investment manager acquired this property in 2019. The mall spans over 3.3 lakh square feet and houses a collection of 100 brands, including renowned luxury brands such as Michael Kors, West Elm, White Crow, Victoria's Secret, Nappa Dori, Hugo Boss, Brooks Brothers, and Tumi in anchor spaces. ...

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Paytm Payments Bank MD buys two duplexes in Mumbai for Rs 20 crore

Saturday 21st October 2023

Surinder Chawla, who serves as the Managing Director and Chief Executive of Paytm Payments Bank, has acquired two duplex apartments in the luxury residential tower named 'Sky Forest' located in the Lower Parel area of Mumbai. The combined cost of these two adjacent apartments on the 42nd and 43rd floors, both offering a sea view, is Rs 20 crore. These apartments have a total area of 3,488 square feet. Additionally, Chawla will have access to four parking slots as part of the deal. ...

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Mumbai builder sent to judicial custody in Rs 4 crore flats scam

Friday 20th October 2023

In a cheating case, Mumbai-based builder Suresh Bhatade has been remanded to judicial custody by Judicial Magistrate NR Indalkar for the illegal sale of six flats in Pioneer CHS, Panvel, collectively valued at Rs. 4.3 crore. In a separate development, Additional Sessions Judge KG Paldwar has denied anticipatory bail requests for two other builders, including retired Assistant Commissioner of Income Tax Sunita Joshi, and another Mumbai-based builder Bhavesh Jain. ...

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Adani Group set to refinance $3.5 billion debt taken for ACC-Ambuja buy

Friday 20th October 2023

The Adani Group is on the verge of finalizing an agreement to refinance $3.5 billion in loans used for the acquisition of ACC Ltd and Ambuja Cement last year. A consortium led by Barclays, Deutsche Bank, Standard Chartered, and supported by 18 global banks, is facilitating the debt refinancing for what was the largest M&A deal in India's building materials industry. ...

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PropShare Capital launches second fund PREF II; plans to raise Rs 500 crore

Friday 20th October 2023

PropShare Capital, a SEBI-registered category-II AIF manager, has introduced the PropShare Real Estate Fund II (PREF II), the second scheme within their existing category II Alternative Investment Fund (AIF). PREF II aims to raise Rs. 500 crores with an additional Rs. 200 crore green shoe option. It will primarily invest in completed Class A income-generating commercial real estate properties leased to multinational and blue-chip tenants in India's technology hubs. ...

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Godrej Landmark Redevelopers receives order for GST demand worth Rs 129.39 crore

Friday 20th October 2023

Godrej Landmark Redevelopers (GLRPL), now merged with Godrej Projects Development (GPDL), a subsidiary of Godrej Properties, has been ordered by the Additional Commissioner of CGST & C. Ex. in Navi Mumbai to pay a GST demand of Rs. 129.39 crore, in addition to interest and a penalty of Rs. 129.39 crore. ...

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Ahmedabad civic body cancels permit, licences of HR Exeter-2 project

Thursday 19th October 2023

The Ahmedabad Municipal Corporation (AMC) revoked development permission for the HR Exeter-2 construction site in Ambawadi following a tragic incident in which a girl lost her life on the site. Upon inspection, AMC officials discovered that the company had failed to implement necessary safety measures at the location. ...

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Delhi development authority launches mega e-auction for prime plots

Thursday 19th October 2023

The Delhi Development Authority has initiated a large-scale e-auction for prime plots, built-up shops, kiosks, mobile tower sites, and other properties. This online bidding event is scheduled to take place over three days, from November 7 to 9, for the convenience of the public. ...

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SC order paved way for bail to Ireo MD in money laundering case

Thursday 19th October 2023

The Supreme Court's decision to grant bail to the directors of real estate firm M3M, Basant Bansal and Pankaj Bansal of Gurugram, set the stage for Lalit Goyal, MD of Ireo Group, to secure bail from the special Prevention of Money Laundering Act (PMLA) court in Panchkula. Goyal was granted bail on October 13, with the judge meticulously examining potential violations related to his arrest by the enforcement directorate in light of Supreme Court directives. ...

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NCLT admits insolvency plea against Supertech ORB

Thursday 19th October 2023

Supertech ORB, a project constructing luxurious high-rise residential apartments in the southeastern suburbs of Delhi-NCR, is facing bankruptcy proceedings. This situation may lead to a delay in handing over the properties to the homebuyers in one of Noida's most upscale residential areas. Furthermore, Supertech's other project along the Noida-Greater Noida Expressway encountered issues when twin towers had to be demolished due to construction faults and rule violations. ...

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Mahindra Lifespaces to jointly develop 37-acre plot in Mumbai Bhandup

Wednesday 18th October 2023

One of the largest land parcels in Mumbai, spanning 37 acres and owned by the defunct engineering firm Guest Keen Williams (GKW) in Bhandup, will undergo joint development by the landowner and the real estate company Mahindra Lifespaces. ...

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Orient promoter CK Birla taps Adani for cement business sale

Wednesday 18th October 2023

CK Birla, an industrialist, has approached Gautam Adani to sell his promoter stake in Orient Cement, a listed company. This move came after Birla rejected initial offers from other domestic players as they did not meet his valuation demands. Senior executives from both sides have held discussions regarding a potential deal. It's worth noting that the Adani Group already possesses India's second-largest cement capacity. ...

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Google leases office space in Blackstone GIFT City tower

Wednesday 18th October 2023

Google Inc, the tech giant, has secured office space spanning an entire floor in the Fintech One commercial tower at Gujarat International Finance TecCity (GIFT) in Gandhinagar, which is owned by Blackstone Group. This space will be used to establish Google's global fintech center. ...

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