07 Dec 2022

Centrum Housing Finance, the financial arm of Centrum Group has reportedly paid a sum of Rs. 112 crore rupees to acquire the home loan portfolio of National Trust Housing Finance. The companies are said to have entered into a binding agreement but no official spokesperson for either party has released any details to the press. National Trust Housing Finance is a Chennai-based institution that offer affordable housing finance across 17 cities in four southern states of India. It’s loan book exceeds Rs 300 crores and employs over 100 individuals.Read more

06 Dec 2022

In a monumental decision by the Supreme Court this week, land and property owners can no longer evade taxes levied on land, redevelopment rights and property transactions by creating partnerships firms. Last week, the apex court ruled that revaluation surplus in a partnership will no longer be exempt from taxation such as capital gains tax. Common practice up until now has been for individuals holding real estate assets in a partnership structure to evade capital tax via simple restructuring. With the new ruling, firms facing a tax liability post revaluation will force the original owners of the property to pay the tax if they wish to take the funds infused by new partners out of the firm.Read more

06 Dec 2022

International Finance Corporation (IFC) and its affiliate IFC Emerging Asia Fund partnered with Bengaluru based Puravankara to invest around Rs 550 crores in the development of several residential projects under their ‘Provident’ band which is focused on affordable housing. IFC is now partially exiting a 1.4 million plotted development scheme in Bengaluru at an alleged IRR of 20%. IFC had invested approximately Rs 150 crores into this project over the span of two years. Having already invested about Rs 320 crores rupees raised from IFC, Puravankara hopes to raise further capital from IFC in the future, owing to the positive experience both parties have had so far.Read more

05 Dec 2022

PropsAMC, the asset management services, and data intelligence division of Square Yards has recently announced its foray into real estate investment opportunities via a fractional ownership platform. Backed by proprietary tools and data analytics, the company aims to offer young working professionals an opportunity to invest in high-quality “income-generating” real estate properties and other secured real estate securities at a fraction of the actual cost. The company aims to provide investors with an IRR of 14-15% on the capital invested along with a 7-9% annual yield for a period ranging from 3 to 6 years.Read more

01 Dec 2022

In July this year, Delhi based Signature Global filled a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch its maiden public issue. As per latest updates of the SEBI website, the realty firm has received an observation letter from the entity implying a green light for the proposed IPO. According to documents filled, the IPO will comprise of a fresh issue of equity shares amounting to Rs 750 crores and an Offer for Sale (OFS) of up to Rs 250 crores. International Finance Corporation and Sarvpriya Securities will sell equity shares worth Rs 125 crores each.Read more

30 Nov 2022

Sikka Group has received last mile funding from the Special Window for Affordable and Mid-income Housing Fund (SWAMIH) amounting to approximately Rs 200 crores. Sikka Kimaya Greens situated in Greater Nodia was launched in 2014 and scheduled for completion in 2020. Due to the Covid pandemic and other financial constraints the project was stalled midway. Over 1,000 individuals had invested in the project to date. Having received financial assistance, the developers now aim to complete and deliver the project within eighteen months.Read more

29 Nov 2022

Keystone Realtors Ltd (KRL), which sells properties under the brand 'Rustomjee’, launched its initial public offering (IPO) on November 14, 2022, allowing investors to subscribe till November 16, 2022. Trading of its shares closed last week with average 3 per cent gain against its issue price of Rs 541. The stock was listed on the BSE and NSE at Rs 555 and finally settled at Rs 556.85 on the NSE indicating a 2.9 percent hike and at Rs 557.80 indicating a 3.11 per cent hike on the BSE. The company traded 4.16 lac shares on the BSE and 58.63 on the NSE.Read more

28 Nov 2022

As per a recent press release, Walton Street Blacksoil Real Estate Debt Fund II is said to have invested a sum of Rs 165 crores in Sowparnika Homes (Sowparnika Projects). The money will be used to fund affordable housing projects in key localities of Bengaluru such as Sarjapur Road, Whitefield, Old Madras Road, etc. In a bit to align themselves with the Prime Minister’s “Housing for All” initiative, the company will use this investment to create over 2,500 homes with an average ticket size of 50 lacs rupees.Read more

28 Nov 2022

Adding another feather to its hat, MYRE Capital recently announced the launch of its Lease-Contract Discounting investment vertical that will be the first in the country to offer alternative real estate investment products that will allow investors to grow their capital via managed leasing backed by solid collateral and lease rental receivables. The investment opportunities will be open to accredited Indians and NRI investors who can make a minimum investment of 15 lac rupees. The company is promising investors an IRR target of 13 per cent per annum.Read more

24 Nov 2022

In September 2020, amid the Covid pandemic, ASK Property Fund agreed to invest a sum of Rs 125 crores with Gulshan Homz for their Gulshan One 29 project in Noida. This month the real estate fund will exit its investment having gained an IRR of 21 per cent. ASK Property Investment Advisors, the alternate asset investment arm of the ASK Group has raised over 600 crore rupees through the initial closing of its sixth real estate fund. The funds raised will be invested in the residential markets of Mumbai, Pune, Noida, Gurgaon, Bengaluru and Chennai.Read more