Real Estate News Update for October 31
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Industry
Standard Chartered Bank has put on the block loans given to defaulting realtor Radius Sumers Developers, which is constructing an ultra-luxury residential project in South Mumbai.
Industry
NEW DELHI: DLF has reported a growth of 30.32 per cent in its net consolidated profit during the quarter ended September 30, 2023. Its profit after tax stood at Rs 621.89 crore in Q2 FY24 as against Rs 477.20 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
Housing Finance
Vridhi Home Finance, a housing finance lender, has raised Rs 150 crore in its maiden round of funding from venture capital firm Elevation Capital.
Regulatory
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NEW DELHI: The bankruptcy court in New Delhi has admitted the Serene Residency Group Housing Project at Sector ETA II after it defaulted on its dues of about ? 257 crore. The company is a subsidiary of listed real estate firm Ansal Properties and Infrastructure Ltd.
Industry
MUMBAI: The BMC has issued Rs 416 crore worth of credit notes to three companies that bagged civic contracts to purchase land and construct flats under the Project Affected People (PAP) scheme in exchange of credit notes and TDR.
Industry
NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has reported a growth of 72.20 per cent in its net consolidated profit during the quarter ended September 30, 2023. Its profit after tax stood at Rs 150.5 crore in Q2 FY24 as against 87.4 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
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