21 Mar 2023

Piramal Capital & Housing Finance will sell its inherited portfolio of bad loans totalling 5,546 crores from Dewan Housing Finance (DHFL) to JM Financial Asset Reconstruction Company following the failure of a Swiss challenge auction to elicit any counter offers. JM Financial ARC has made an offer to buy the portfolio for 2,550 crore which works out to a 46% recovery rate.Read more

21 Mar 2023

In January 20202, the Karnataka Cabinet made the decision to defend more than 78,000 residents from false property tax demands brought on by inaccurate zonal classification by the BBMP. However, the government's decree is yet to be implemented, making residents restless and impatient. The BBMP's flaws have led to ongoing administrative delays, and citizens continue to receive penalty notifications. Citizens have now requested that the BBMP's Special Revenue Commissioner expedite the issuance of the GO and also send a copy of the recommendation that the BBMP had made to the government regarding the issue.Read more

20 Mar 2023

PNB Housing Finance, a subsidiary of Punjab National Bank, has been given the green light by the Securities and Exchange Board of India (SEBI) to raise up to Rs 2,500 crore through a rights issue of shares. This announcement follows the filing of draft papers with SEBI in December 2022, and the subsequent issuance of "observations" on March 6, which is required for any company to launch an issue.Read more

20 Mar 2023

The first REIT-level Green Bond issuance in India has been announced by Mindspace Business Parks REIT, which is the owner and developer of a high-quality Grade A office properties. With a tenor of three years and thirty days and a fixed quarterly yield of 8.02% per annum payable quarterly, Mindspace REIT raised INR 5.5 billion through this issue. The money raised from this fund-raise will be used to refinance loans that one of the Asset SPVs took out to finance the permitted green projects.Read more

17 Mar 2023

HDFC Capital acquired Rs 1,450 crore in the portfolio of projects and land parcels owned by real estate developer Kalpataru in one of the biggest investment deals in the residential sector. The money would be used by Kalpataru to build apartments for residents in new mid-income developments as well as to help them finish current ones in Pune and the Mumbai Metropolitan Area.Read more

17 Mar 2023

Panvel civic body's property tax department has initiated a crackdown against defaulters in its jurisdiction who have failed to pay their property tax levied by the civic body. The civic body's officials claim that the sealing drive has been successful, with 115 out of 118 defaulters clearing their outstanding property tax bill, amounting to a total of Rs. 2.12 crore. Three commercial property owners have paid in instalments by giving post-dated cheques.Read more

15 Mar 2023

Two year after the successful launch of its Category II AIF, Welspun One has continued to innovate by introducing its investor portal, setting a new standard for investor reporting and transparency in the Indian private equity industry. The investor portal will allow investors to view, manage and track their investments online. The portal contains a document repository and investments and portfolio dashboard. Through the portal, an investor can also view detailed information such as leasing and construction status, images and drone videos of the site to track actual site progress.Read more

15 Mar 2023

Embassy Office Parks REIT has committed more than Rs 300 crores to its ESG program for its pan-India portfolio spanning 43.6 million square feet. At the 'ESG Occupier Connect' forum, Embassy REIT commissioned the first phase of its 20 MW solar rooftop project, which is one of the largest solar rooftop projects in Asia. This project aims to produce 30 million units of solar power, which will offset about 25,000 tonnes of CO2 emissions.Read more

14 Mar 2023

Various citizens' groups in Pune have appealed to the state government and the Pune Municipal Corporation (PMC) to reintroduce a property tax discount scheme for self-occupied homes in civic areas. The special discount, which was initially introduced in 1970, offered a 40 percent reduction in property tax for self-occupied properties. However, since the discount was never notified as an act by any state government, it was declared illegal by auditors of the Union government and was scrapped in 2019.Read more

14 Mar 2023

BPEA EQT formerly known as Baring PE Asia is in advanced discussion to take stake in Shriram Housing Finance Ltd. (SHFL) a mortgage subsidiary of Shriram Finance. The group is yet to decide the stake amount and sources close to the parties believe the deal should be completed in the first quarter of the upcoming fiscal year. Shriram Housing Finance has 7,200 crores of rupees in assets under management (AUM) as of December 2022. About 85% of the housing finance subsidiary is owned by Shriram Finance, and the remaining is owned by Valiant Mauritius (P) Ltd.Read more