Real Estate News Update for September 15
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Industry
Signature Global's IPO offer will comprise a fresh issue of equity shares aggregating up to Rs 603 crore by the company and an offer for sale of equity shares aggregating up to Rs 127 crore by the International Finance Corporation as the selling shareholder.
Allied Industries
The investment will be used to further develop the platform and hire more personnel to cater to the demand for fractional ownership of holiday homes and hotel suites,” said Janardan Tiwari, founder and CEO of the platform.
International
Moody's said it expected contracted sales to fall by about 5% over the next six to 12 months in China, and the impact of government measures to boost property purchases was likely to be short-lived and uneven.
Industry
Until a developer or an individual owner of land is issued a CC, a housing project or a residential building lacks the legal status, and the promoter/ individual owner can’t apply for water supply or a drainage connection without it.
Paints
Grasim Industries had previously committed an investment of Rs 10,000 crore towards setting up the paints business. The company's six manufacturing plants will have a total capacity of 1,332 million litres per annum (MLPA).
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