Real Estate News Update for July 22
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Commercial
NEW DELHI: CapitaLand India Trust (CLINT) has completed the acquisition of Building Q2, a 0.82 million sq ft multi-tenanted IT Non-SEZ office building at Aurum Q Parc business park in Navi Mumbai, for a purchase consideration of approximately Rs 6.76 billion (S$ 108.99 million).
Startups
NEW DELHI: Flexible workspace provider Incuspaze has raised $8 million (?67 crore) led by the India Inflection Opportunity Fund (IIOF) and other financial institutions in its maiden funding round. The IIOF specialises in late-stage venture capital investments, focusing on companies poised for pre-IPO stages with clear strategies for stock market listing.
Commercial
MUMBAI: Accepting real estate advocacy group CREDAI-MCHI’s request that the glass facade provides artificial light and mechanical ventilation, the state govt has decided to relax the quantum of open space requirement for such commercial buildings.
Regulatory
MUMBAI: The city police’s Economic Offences Wing (EOW) has registered a case against two directors of a construction company for allegedly taking money from flat buyers, promising to deliver the flats by Dec 2023, but failing to keep the promise. The police have received complaints from 74 flat buyers who are said to have paid a total of Rs 66.8 crore to the accused.
Commercial
Suryoday Small Finance Bank has acquired office space in Navi Mumbai’s Nerul from Larsen & Toubro’s real estate development arm L&T Realty for Rs 100 crore.
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