Real Estate News Updates for June 6

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 raids IREO, M3M, seizes luxury cars worth Rs 60 crore

The ED on Monday said it has seized luxury cars worth Rs 60 crore, including those of Ferrari, Lamborghini, and Bentley, and jewellery valued at Rs 5.75 crore during raids on real estate companies IREO and M3M in a money laundering investigation. The federal agency said in a statement that the searches were carried out on June 1 at seven of their locations in Delhi and Gurugram.

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Industry

Brookfield India REIT appoints bankers, targets July for $400 million raising: Sources

NEW DELHI: Brookfield India Real Estate Investment Trust (REIT) has appointed eight investment banks for its planned equity raising of around $400 million, and is targeting the deal's closure by July, three people with direct knowledge said.

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Industry

Ghaziabad: GDA to recover costs from builders if HC upholds land compensation hike

GHAZIABAD: The Ghaziabad Development Authority may have to pay Rs 1,000-1,200 crore in enhanced land compensation to farmers for the 1,748 acres it acquired between 1986 to 1989 for the Indirapuram and Vaishali housing schemes.

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Cement

JK Cement to acquire 100% equity shares of Toshali Cements for Rs 157 crore

NEW DELHI: The board of directors of JK Cement have accorded in principle approval to sign/execute a share purchase agreement with the shareholders and also with Toshali Cements (Toshali) for acquisition of 100% equity shareholding from all the existing shareholders of Toshali, the company said in a BSE filing.

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Cement

Sanghi Cement gets non-binding offers from Nirma Group, JK Organisation

NEW DELHI: Nirma group and JK Organisation have submitted non-binding offers to acquire between 40% and 72% stake in Sanghi Cement, creating a three-way contest for the Ahmedabad-based cement manufacturer, which has also drawn interest from at least one other player, according to sources briefed on the matter.

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Popular Among Readers:

Delhi Police summons Emaar MD for questioning on Friday in forgery case

Maharashtra: Now get society land ownership within one month

Government weighs flats' registration even if developer insolvent

QR code display for projects must from August 1: MahaRERA

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