#RealtyNewsRoundUp: Sobha Group Raises Rs 15 Cr Via NCDs

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

Renowned real estate developer Sobha Group has raised Rs 15 crore via non-convertible debentures (NCDs). The funds, raised at a coupon rate of 11.25 per cent, will be used to replace costlier debts. The developer has raised Rs 80 crore so far through this route. Read more

Ghaziabad Development Authority (GDA) has given its nod to the construction of four-lane flyover at Raj Nagar Extension Crossing. The flyover is expected to reduce traffic congestion on the stretch. The flyover will be aligned along the NH-58. Read more

Nashik-based architects and developers are seeking revision of government's transfer of development (TDR) policy. For this, they took out a protest march to the district collectorate and the Nashik Municipal Corporation (NMC). Under the new TDR policy, applicable from January 28, utilisation or uploading is now allowed on plots located along smaller roads below nine metres in width. Read more

Real estate major DLF Ltd has sold one of its renowned mall DLF Place, located in Delhi's Saket, for Rs 904.50 crore. The mall has been sold to its own subsidiary, Nambi Buildwell Private Limited, to facilitate potential monetisation in future. Read more