In the Real World – The Week that was (22.3.2013)

Key news

· Mahindra Lifespace has bought the stake of Arch Capital, in its joint venture residential project in its SEZ at Chennai. Buyout of stake was estimated to be around Rs 70 crores

· Jones Lang LaSalle will be making its first real estate investment from its maiden India-focused fund in Bangalore

· Hubtown has defaulted on the repayment of interest and principal on Rs 100 crore non-convertible debentures, according to rating agency Brickwork

· CARE has downgraded HDIL’s non-convertible debentures I & II, as well as the short-term non-convertible debentures to CARE D. Instruments with D rating are in default or are expected to be in default soon

· Donald Trump will localise offering for the Indian market as it looks to spread its footprint in residential and hospitality segments

· Infosys, has received a notification for its proposed SEZ in Super Corridor area of Indore.

· Tata Housing looking to invest over Rs 2,000 crore to acquire new projects in the next financial year, 2013-2014

· Uttarakhand government announced stamp duty exemption of 25 per cent to women in property deals valued up to Rs 30 lakh

· International: TPG & KKR are launching their first real estate dedicated fund by raising a combined $1.5billion or more for the funds

Source: Compilation of news articles from various publications

Warm Regards

Berinder Sahni CFA MRICS


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