Tag: Crunch

Mauritian firms to buy 60% in Forum Ventures

Mauritius-based Landmark Special Opportunities Company (LSOC) and Landmark Real Estate Fund (LREF) are picking up around 60% stake in Kolkata-based realty company Forum Ventures for close to Rs 100 crore, a person involved in the transaction said. The transaction involves issue of 10 crore fresh equity shares and transfer of the same to the two […]

Banks want RBI to ease realty NPA norms

In a bid to avoid classifying advances to troubled real estate companies as bad loans, banks have urged RBI to put in place a uniform norm for restructuring debt to realty companies. As of now, the moment a loan extended to real estate, capital market or personal loan segment is restructured; the lender has to […]

GMR Invites Bids For Building Hotels

Entering the market in possibly the toughest time, the GMR Group has invited bids for building hotels at its proposed 45-acre hospitality district near the upcoming airport in Delhi. The Delhi International Airport Pvt Ltd (DIAL) had planned to raise Rs 2,750 crore from this district in 2008 when the plan was first floated and […]

Realty Firms Consider Joint Development For Construction Projects

Real estate firms will enter into joint development for construction projects by selling land parcels to other builders, given the drop in sales of apartments and inflationary trends. Pankaj Jaju, head-real estate practice, Enam Securities told FE, “Metros and Tier II towns having a huge pipeline of projects have witnessed a 60% drop in sales […]