The Bombay High Court (HC) on January 15 ordered setting up of a three-member panel to evaluate and sells assets of the embattled Housing Development and Infrastructure (HDIL). The fund thus accumulated would be used to pay off the debt the builder owes crisis-hit PMC Bank.
Hines, the US-based global real estate investment firm, plans to invest US$ 500 mn in India to develop new commercial and housing projects. The company foresees excellent growth opportunities in the country despite the current slowdown in the real estate sector.
Reportedly, according to channel checks run by brokerages, overall demand for cement has been muted in Q3 FY2020, growing at just 2 per cent YoY after having contracted by 2 per cent during the first two-quarters of the fiscal.
Piramal Group and IIFL Wealth Management have announced a co-investment on an Alternative Investment Fund (AIF) platform to fund select advance stage/last-mile, real estate projects across Tier-1 cities in India.