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Bank lending to commercial real estate, including residential projects, rose 23% last fiscal year excluding the HDFC-HDFC Bank merger. Loans totaled Rs 3.97 lakh crore. Including the merger, growth rose to 38.9%, with Rs 4.48 lakh crore in loans as of March 31.
- 8th May 2024
- 1127 Views
The State Bank of India has committed Rs 714 crore to TCG Urban Infrastructure, a New York-based company, for the development of a World Trade Center in Gurugram. This project promises to offer one million square feet of leasable space.
- 7th May 2024
- 1129 Views
Phoenix ARC, backed by Kotak Mahindra Bank, bought two stressed loans for ₹1,800 crore from IIFL, committing to an 83% recovery rate for the Fairfax-supported non-bank lender. The ₹1,500 crore acquisition was made in an open auction, with Phoenix ARC being the lone bidder.
- 10th Apr 2024
- 1169 Views
The Indian real estate business is poised for a major change: industry recognition. This decision will boost growth and the sector's economic contribution.
- 31st Mar 2024
- 1169 Views
The Mumbai NCLT invalidated Wadhwa Buildcon's promoter's resolution plan. The resolution professional (RP)'s suspicious conduct and the promoter's willful default status revealed the decision.
- 27th Mar 2024
- 1179 Views
Given the large number of stalled housing projects, the SWAMIH fund, which finances their completion, has demonstrated potential but has scalability issues. Despite completing over 26,000 residences and recovering a major share of investor funds, it needs to expand its reach and efficiency.
- 9th Mar 2024
- 1169 Views
A prominent hospitality company sold a Bangalore boutique hotel via Colliers India. Colliers worked well with the Asset Reconstruction Company (ARC), Trustee, bank, buyer, and seller to complete this 150,000-square-foot transaction.
- 7th Jan 2024
- 1231 Views
MahaRERA recovered over Rs 140 crore this year from developers who delayed flat deliveries, distressing homeowners. This is one of India's greatest real estate regulator recoveries. MahaRERA has filed 1,123 warrants this year to collect about Rs 764 crore from developers, threatening to freeze bank
- 27th Dec 2023
- 1214 Views
Bank of America (BofA) has acquired 1.1 million square feet of Chennai office space in a major move. This sale is BofA's biggest office space transaction of 2023 and one of its largest captive centres outside the US. The DLF Downtown, Taramani site is for the bank's Indian back office.
- 27th Dec 2023
- 1345 Views
The state-owned Indian Bank sold ₹610 crore in bad loans to simplify its financial portfolio. The bank plans to straighten up its accounts by the end of the year. Real estate and international trade debts are sold.
- 12th Dec 2023
- 1236 Views
Mumbai's office property market has set a new Indian lease rental record. The Toronto-Dominion (TD) Bank extended its India headquarters lease at Maker Maxity in the Bandra-Kurla Complex (BKC) for an astounding Rs 604 per sq ft per month.
- 11th Dec 2023
- 1260 Views
The Reserve Bank of India's fifth straight repo rate hold at 6.5% is likely to boost the Indian property industry, especially Mumbai house sales.
- 10th Dec 2023
- 1223 Views
The Reserve Bank of India's Monetary Policy Committee recently announced its decision to maintain the repo rate at 6.5%. This decision has garnered various reactions from the Indian real estate sector
- 7th Oct 2023
- 1274 Views
The foremost financial institution in India, HDFC Bank, has recently established its presence in the swiftly developing region of Navi Mumbai by acquiring 2 lakh square feet of premium property.
- 24th Sep 2023
- 1533 Views
The Government of India is urging banks to use the'special window' it has opened up to expedite the completion of large-scale real estate projects worth more than 3 lakh crore.
- 7th Jul 2023
- 1294 Views