Real Estate News Updates for July 05

Welcome to the latest edition of?ETRealty's daily newsletter,?RealtyDigest! Through this especially curated newsletter, we aim to provide the latest real estate and allied industries' news, views, market trends, reports, video interviews and much more to help you navigate the world of real estate. Subscribe and Stay Tuned for daily updates!

Regulatory

ED arrests IREO's managing director in money laundering case

NEW DELHI: The Enforcement Directorate (ED) on Tuesday arrested real estate firm IREO's owner and Managing Director Lalit Goyal in a money laundering case linked to alleged bribery of a now-suspended special judge based in Panchkula, official sources said.

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Hospitality

HDFC looks at promoter offer for two Radisson Blu hotels

HDFC, which has merged with HDFC Bank on July 1, is currently evaluating a one-time settlement (OTS) offer from promoter DP Jain regarding the sale of two Radisson Blu hotels in Ghaziabad, on the outskirts of New Delhi.The lender has received an offer of ?315 crore from the promoter, while Prudent ARC has submitted a binding offer of ?311 crore.

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Housing-Finance

Piramal Capital & Housing Finance to sell more loans for Rs 1,669 crore

Piramal Capital & Housing Finance is in talks to sell a stressed loan portfolio worth ?2,437 crore spread across 14 accounts to JM Financial ARC for ?1,669 crore. This entails a recovery of 68% on the account.

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Regulatory

YEIDA will contest NCLT nod to Ace Infracity resolution plan for 3C Homes

NOIDA: The Yamuna Expressway Authority (YEIDA) will challenge the National Company Law Tribunal’s (NCLT) June order approving a resolution plan for the 3C Home’s Lotus City residential plots project in Sector 22.

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Regulatory

NCLT approves Ashdan Developers' resolution plan for D S Kulkarni Developers

The National Company Law Tribunal has approved Ashdan Developers-led consortium’s insolvency resolution plan for debt-laden real estate developer D S Kulkarni Developers. The successful consortium proposes to make a payment of Rs 826.30 crore to the developers’ stakeholders.

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Regulatory

CGWA recommends Rs 230 crore fine on 30 builders for groundwater misuse in Noida extension

NOIDA: The Central Ground Water Authority (CGWA) has recommended a fine of Rs 230 crore on 30 developers in Greater Noida West, also known as Noida Extension, for illegally extracting groundwater in a case that is being heard by the National Green Tribunal (NGT).

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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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