Tag: Cash Crunch

Unitech is close to finalizing hotel deal

December 9, 2008 – 12:51 am

Unitech is close to finalizing a deal with the Ashok Hinduja group for the sale of its Gurgaon-based hotel for Rs 226 crore. The real estate player has been facing a cash crunch for almost a year. Last month, it decided to sell The Courtyard, its hotel property in Gurgaon, along with five other properties […]

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DLF requests Haryana to refund licence fees

November 20, 2008 – 1:29 am

In a bid to seemingly boost its cash reserves, DLF, India’s largest real estate company, has requested the Haryana government to refund license fees worth Rs 235 crore for various commercial and residential projects in Gurgaon. In two separate letters to the state government’s director of town and country planning department, DLF requested the authority […]

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Unitech puts Delhi office on block

November 12, 2008 – 11:56 pm

India’s second-largest property firm Unitech has put on the block its 2-lakh square feet office at upmarket Saket in New Delhi. Market buzz suggests Unitech is in talks with HDFC to sell the property. Both Unitech and HDFC admitted the property was on the block, but refused to confirm the deal. “I cannot confirm till […]

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HDFC Funds Look At Troubled Realty Projects

September 5, 2008 – 7:34 am

Chairman Deepak Parekh said that the property funds of Housing Development Finance Corp (HDFC) and its asset management unit have more than $1 billion of available funding and will look to buy distressed real estate projects. The funds are yet to buy any projects, but he said there could be opportunities within six months if […]

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