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

22 Nov 2022

The cabinet recently approved a proposal to halt periodic revisions to the capital value of properties in Mumbai City. The proposal sought an amendment to Section 154 (1d) of the BMC Act that allows the capital value of properties to be revised once every five years. Now, changes to the capital value can be made at any time by giving reasons for doing so in writing. The Brihanmumbai Municipal Corporation (BMC) is likely to lose revenue up to Rs 1,117 crore rupees this financial year owing to changes and amendments in the collection process laid down.Read more

22 Nov 2022

A website by the name maharashtracivilservice(dot)org, designed and developed by, a Senior Deputy Collector, has helped the state department resolve over 5,000 land related queries in quick succession. The website is supported by the Maharashtra Civil (Revenue) Services Organisation whose members sign up and respond to queries posted. Most queries pertain to land inheritance, land transfer, changing names on the property cards, etc. The website has over 20 lac visitors and over 3,00 active contributors. The entire website is in Marathi making the information available accessible to a larger audience.Read more

22 Nov 2022

Taurus Investment Holdings and Sage Capital are looking to raise Rs 500 crore domestic fund to invest in the Indian Real Estate. The fund will look at investing in Tier 1 and Tier 2 high-growth cities in Western and Southern India. The planned real estate fund will look at raising funds from both domestic and international investors aims to build a a portfolio of projects valued over $1 billion over the next 5 years. The goal will be to invest in commercial, mid-scale residential and mixed-use development projects.Read more

21 Nov 2022

In a statement released earlier last week on the official website, Kotak Mahindra Bank has announced that will reduce its marginal cost of funds-based lending rate (MCLR) for its benchmark one-year tenor by 20 basis points from 8.75 percent to 8.55 per cent. Tenors ranging from overnight to three years will also have revised rates ranging from 7.80 to 9.05 per cent. The revised rates will come into effect from 16th November 2022.Read more