Realty News Roundup: PE Funds Invested $1.3 bn in Real Estate Since January; Godrej Properties to Develop Residential Project in Bengaluru

July 02, 2015   |   Proptiger

(Dreamstime)

Realty News Roundup is PropGuide's selection of top stories from the real estate sector

 

Top News

 

Private equity (PE) investments in real estate rose sharply in the first six months this year, with global funds taking the lead in backing affordable home developments, office parks and mixed-use projects. According to VCC Edge, as reported by Mint, during January-June, PE funds invested about $1.3 billion in 39 deals, compared with $892 million in 31 deals in the same period last year.

 

Realty firm Godrej Properties has said it will develop a new residential project in Bengaluru. The real estate development arm of the Godrej Group has "added a new project off Kankapura Road, in South Bengaluru to its development portfolio", the company said in a statement, NDTV reports.

 

In a bid to make the city slum-free, the Noida Authority amended its ambitious slum rehabilitation scheme by changing a norm relating to its cost pattern. It has decided to provide interest-free, long-term loans to slum-dwellers to enable them to buy economically weaker section (EWS) flats, priced around Rs 5.15 lakh. Read here.

 

Off the front page

 

Had Rahul Yadav lost interst in his previous company? A report in the Economic Times looks at what led to the sacking of the controversial start up CEO. Read here.

 

Want to know what is the safest investment for B-Town celebs? In a good news to real estate investors, many bigwigs have put their money in high-end residential and commercial properties across Mumbai. Read thisreport to know what Abhishek Bachchan, Hrithik Roshan and other celebs have purchased recently.

 

K Raheja Corp, the construction firm controlled by C L Raheja, has bought a 1.4-acre Worli plot for Rs 230 crore from multinational bank HSBC. Read more about the deal here.

 

Opinion

 

Read an interview with Ashish Puravankara, the newly appointed managing director of Puravankara Projects, where he talks about the restructuring of the company's business, the fundamentals of the south Indian real estate market and regulatory issues. He opines that the proper implementation of the Real Estate (Regulation and Development) Bill will ensure accountability of all stakeholders, timely completion of projects and enhance customer satisfaction. Read more here.

 

Read an article here that looks at India's new urban plans with a positive outlook. 

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