Real Estate News Update for July 08

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Regulatory

YEIDA withdraws plea at NCLAT against Ace Infracity bid for Three C Homes

NEW DELHI: The Yamuna Expressway Industrial Development Authority (YEIDA) has withdrawn its appeal before the appellate insolvency tribunal NCLAT against an NCLT order which approved Ace Infracity's bid for Three C Homes. The development comes after YEIDA accepted the proposal by Ace Infracity Developers to pay for compensation to farmers and requested the NCLAT to withdraw its appeal.

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Industry

INH Mauritius to sell its 49% stake in JMFCS to JM Financial for about Rs 3,000 crore

MUMBAI: Former Citigroup CEO Vikram Pandit is set to exit the real estate financing business established by veteran dealmaker Nimesh Kampani.

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Industry

HDFC Capital to invest $2 billion in affordable housing segment by 2025 end

HDFC Capital Advisors is betting big on affordable and mid-income housing with plans to invest more than $2 billion in this segment across India's top property markets by the end of 2025 to support easing of supply side constraints, said a top company executive.

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Residential

Ronit Roy buys apartment for Rs 19 crore in Mumbai’s Versova

Bollywood actor Ronit Roy has purchased a sea-view luxury apartment in Versova locality of Mumbai’s western suburb Andheri for nearly Rs 19 crore from realty developer Macrotech Developers.

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Residential

Panel to study BIS guidelines for uniform building code in Gautam Budh Nagar

NOIDA: A committee comprising officials from all three development authorities of Gautam Budh Nagar is likely to study guidelines prepared by the Bureau of Indian Standards (BIS) to bring uniformity in building bylaws in the region.

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