Real Estate News Update for July 21

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Housing-Finance

Bandhan Bank looks to sell Rs 500-crore stressed home loans to ARCs

Bandhan Bank invited offers from asset reconstruction companies (ARC) for its Rs 500-crore distressed retail mortgage portfolio to lower the share of bad loans, said people aware of the development.

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Regulatory

HC rejects Jaiprakash Associates' interim plea to sell land & clear Rs 3,600 crore dues

The Allahabad High Court has rejected the Jaiprakash Associates Ltd’s (JAL) petition seeking one-year time to sell a 150-acre land parcel in the Special Development Zone (SDZ) ‘core area’ of Sector 25 to clear over Rs 3,600-crore land dues of the Yamuna Expressway Industrial Development Authority (YEIDA).

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Residential

Fifth Chintels Paradiso tower in Gurugram found unsafe by IIT, evacuation likely

A fifth tower at Chintels Paradiso, where a vertical cave-in of five flats led to the death of two residents in February 2022, has been found to be unsafe for living by experts at IIT-Delhi, which has been brought in by the government for a structural audit of the complex.

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Regulatory

SRA should ensure transit rent to slum-dwellers is paid: Bombay HC

The Bombay High Court has said the implications of non-payment of transit rent was serious for slum dwellers and directed the Slum Rehabilitation Authority (SRA) to take proactive measures to address the issue.

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Cement

Adani Group to continue using ACC, Ambuja brands; 'no plans to merge' cement units

India's Adani Group will continue to use its ACC and Ambuja cement brands to sell cement products and has no plans to merge the two entities, Ajay Kapur, chief executive officer of both cement companies, said at an annual shareholder meeting.

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Popular Among Readers:

DDA launches housing scheme for 5,500 flats on first-come, first serve-basis

Shivalik Group achieves Rs 300 crore sales in GIFT City residential project within 15 days

Flat agreement price & stamp duty difference can't be taxed: ITAT

Enforcement directorate arrests Supertech's chairman in money-laundering case

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