Real Estate News Update for April 12

Real Estate News Update for April 12

Welcome to the latest edition of ETRealty's daily newsletter, RealtyDigest! Through this especially curated newsletter, we aim to provide the latest real estate and allied industries' news, views, market trends, reports, video interviews and much more to help you navigate the world of real estate.

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Industry

Piramal Enterprises invests over Rs 500 crore in Puravankara Group’s projects

The investment encompasses a range of projects, spanning from commercial properties to residential ventures, reflecting a strategic collaboration aimed at bolstering real estate endeavours across multiple regions in India.

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Industry

SC Lowy buys Rs 275 crore bonds issued by Pune-based Pharande Township

SC Lowy, the Hong Kong-based hedge fund, has invested in the debt of two projects recently. It had bought Rs 275 crore rupee bonds issued by Pune-based real estate developer Pharande Township and Rs 100 crore in the Srinagar-Banihal Expressway.

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Regulatory

NCLAT rejects insolvency plea against Parsvnath Landmark Developers

The appellate tribunal upheld the orders of the Principal bench of the National Company Law Tribunal (NCLT), which on October 17, 2023, rejected their plea on technical grounds as the number of petitioners was only four, while the total number of allottees by Parsvnath Landmark is 488.

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Regulatory

Hyderabad: Consumer forum orders Sahiti Infratec to refund buyers' money

The Hyderabad District Consumer Disputes Redressal Commission-3 sanctioned the compensation for mental agony to three complainants — T Bhrahmaiah, a software employee from Guntur, Takkalapalli Sowmya and Takkalapalli Surekha of Madinaguda.

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International

Vietnam real estate tycoon sentenced to death in $12.5 billion fraud case

HANOI: A court in Vietnam handed the death sentence on Thursday to real estate tycoon Truong My Lan for her role in a 304-trillion-dong ($12.5-billion) financial fraud, the country's biggest on record, state media said.

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