Real Estate News Update for December 13

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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Residential

Non-deposit of LTCGs in designated account will not result in denial of tax sop for purchase of new house: ITAT

MUMBAI: The Income-tax Appellate Tribunal (ITAT), Delhi bench, has quashed a revisionary order passed by the Principal Commissioner of Income-tax.

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Industry

Provident Housing looks to invest Rs 750-1,000 crore in FY25

NEW DELHI: Provident Housing, a 100% subsidiary of Puravankara, is looking to invest about Rs 600 crore to buy new land parcels and will be investing around Rs 750-1,000 crore in the financial year 2024-25 to develop these land parcels.

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Industry

Ashiana Housing plans to invest Rs 650-700 crore in FY24

NEW DELHI: Ashiana Housing is planning to invest Rs 650-700 crore in both land and construction in the financial year 2023-24. Its target is to do area booking of Rs 1,500 crore in FY24. The company is looking to add another 7-8 million sq ft over the next three years.

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Housing Finance

Grihum Housing Finance looks to touch Rs 11,000 crore AUM by March 2025

NEW DELHI: Poonawalla Housing Finance has been re-branded as Grihum Housing Finance (GHFL) after TPG, a global alternative asset management firm, acquired 99.02% equity stake in the company from Poonawalla Fincorp for Rs 3,900 crore earlier this year.

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Regulatory

NCLT admits IIFL Finance's claim against Satra Properties as financial debt

The National Company Law Tribunal (NCLT) has accepted an application of IIFL Finance to admit its claim against Satra Properties under the category of financial debt in an ongoing case between the property developer and its financial creditor Vistra ITCL (India).

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Industry

Yes Bank seeks buyers for Rs 4200 crore corporate and retail distressed loan book

Yes Bank has put some real estate developers for sale, such as ATS Realworth Pvt Ltd with debt of Rs 115 crore, ATS Infrastructure at 8 crore, ATS Township at Rs 26 crore, and Umritha Infrastructure at Rs 16 crore.

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