Real Estate News Update for April 11
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Infrastructure
GURUGRAM: The enforcement wing of town and country planning department (DTCP) inspected and cleared encroachments in the common areas of Sapphire Mall in Sector 83 and Sapphire 90 Mall in Sector 90.
Regulatory
On April 5, Bombay HC had granted them bail in two separate cases linked to the alleged Rs 4,000 crore Punjab and Maharashtra Co-operative Bank fraud cases probed by Economic Offences Wing and the subsequent money-laundering case registered by ED in 2019.
Industry
MUMBAI: The Dharavi Rehabilitation Project (DRP) is to deploy over a 100 teams for further speeding up of the ongoing door to door socio-economic survey of the residents of Dharavi which is spread across 600 acres of land in central Mumbai in view of target completion of this exercise by December 2024.
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Hospitality
NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has upheld the insolvency proceedings against Tulip Hotels, which had defaulted on Rs 450 crore corporate guarantees given for Cox & Kings and EzeeGo One Travel & Tours each.
International
LONDON: There was more bad news for the battered Chinese property sector on Wednesday, as S&P Global became the last of the major credit rating firms to strip China Vanke of its investment grade status.
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