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Real Estate 2021

Shriram Properties sets IPO price band at Rs 113-118 per share

Shriram Properties has fixed a price band of Rs 113-118 a share for its Rs 600-crore initial share-sale, which will open for public subscription on December 8. The three-day Initial Public Offering (IPO) will conclude on December 10, the bidding for anchor investors will open on December 7, according to the company. The firm has reduced its offer for sale size to Rs 350 crore from Rs 550 crore earlier....

Indiabulls Housing Finance to raise Rs 1,000 crore

Indiabulls Housing Finance on December 4 said it will raise up to Rs 1,000 crore through a public issue of bonds that opens next week. The base issue size of the bonds, in the nature of secured redeemable Non-Convertible Debentures (NCDs), is of Rs 200 crore with an option to retain over subscription up to Rs 800 crore, aggregating up to Rs 1,000 crore, Indiabulls Housing Finance said in a regulatory...

Nagpur improvement trust demands market rate for 32 acres land for smart city project

Nagpur After allotting large parcels of land at nominal rates to government, private and trust-run organizations, Nagpur Improvement Trust (NIT) has decided to give 32.39 acres for the Smart City Project at market rate despite objection by the civic chief.  In violation of the state government’s decision, NIT has decided to adjust the cost of the land in its share of Rs 250 crore to be disbursed to...

IIFL Home Finance’s Rs 1000 crore bond issue opens on Dec 8

IIFL Home Finance has received market regulator's approval for raising Rs 1,000 crore by selling bonds paying 8.25-8.75 percent coupon, a company official said. The public issue of secured redeemable Non-Convertible Debentures (NCD) will open for subscription on December 8. The NCDs will have three tenures -- 36 months, 60 months and 84 months. The NCDs have a base issue size of Rs 100 crore and an...

Centre to implement 105 smart city projects in Puducherry at Rs 822 crore

The Union government, which picked Puducherry for the Smart City project in round three conducted in June 2017, proposed the launching of 105 projects at an estimated 822.64 crore, said Minister of state for housing and urban affairs Kaushal Kishore. In a written reply to a query from Puducherry MP V Vaithilingam in the Lok Sabha, Kishore said three projects at 13.6 crore have been completed. The...

Andhra Pradesh: More takers for OTS scheme as awareness drives pay off

The Jagan Anna Saswatha Boohakku (One Time Settlement) scheme which had initially faced criticism from beneficiaries is now getting positive response. A string of awareness camps conducted by the government is deriving positive results. For several years, successive state governments had given houses under various schemes to beneficiaries. But these houses are not entitled for transfer of title....

In four months, 290 acres of government land recovered in Bengaluru

Bengaluru After five years of inaction against the land mafia, the Bengaluru Urban district administration swung into proactive mode in recovering encroached government land. In about four months, 290 acres have been reclaimed by clearing encroachments at 204 places. Of the 290 acres recovered from July 31 to November 27 this year, 237 are in lake/tank beds. The lake encroachments were cleared at 155...

Experion Developers to invest $350 million to fuel India expansion

Experion Developers will invest $350 million in the next 30 months to expand its commercial and residential portfolio across the country, its top executive said.  The real estate developer plans to hike its presence in Lucknow, Gurugram and Amritsar. It will also make an entry into Bengaluru, Pune, Hyderabad and Mumbai markets.  "We want to be in all the major metro cities and are already in talks to...

Nagpur improvement trust forces society to demarcate plots for third time

Nagpur To correct its own mistake, the Nagpur Improvement Trust (NIT) has forced Crown Co-operative Plot Holders’ Association to demarcate its 317 plots for the third time. The plot owners, of which a majority are retired persons, are unable to construct houses on their plots since the last six years. On January 1, TOI reported how 317 plots owners are running pillar to post for constructing houses on...

Sale bids start for MTNL’s Mumbai, Delhi properties

The government has kick-started the process of selling 20 properties of state-owned MTNL in Mumbai, apart from seeking bids for a 1.4-acre residential plot at Vasari Hills in Goregaon, which has a reserve price of Rs 270 crore. High-level meetings have also been held between officials of the housing & urban affairs ministry and the Department of Telecom (DoT) for various relaxations/exemptions from...

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