#RealtyNewsRoundup: HDFC To Float Masala Bonds
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Realty News Roundup is PropGuide's selection of top stories from the real estate sector.
Mortgage lender HDFC will float Masala Bonds worth Rs 2,000 crore to attract capital into the housing sector in India. So far, no corporation has ever floated a masala bond. As interest rates are negative in nearly a quarter of the world, HDFC thinks that investors will consider masala bonds safer and high-yielding assets. Read more.
The Bruhat Bengaluru Mahanagara Palike (BBMP) has released a list of major property tax defaulters in the city. Together, 10 companies owe the civic body Rs 231.66 crores in total. Under the self-assessment scheme, these companies paid a much lesser amount than what they owe to the BBMP. Read more.
The Gujarat government will provide online links to land and property titles. Gujarat Chief Minister Anandi Ben Patel said that this was part of improving and reforming revenue administration. This is the first time in 100 years the Gujarat government is undertaking a campaign to resurvey and correct land records. Read more.
According to media reports, Infosys co-founder Nandan Nilekani invested $25 million in a real estate non-banking finance company (NBFC) arm of KKR India. KKR India's real estate arm has been providing credit to fundamentally strong, but financially stressed companies in the recent past. Read more.