Real Estate

IDBI Bank, the lead banker to JIL had approached NCLAT seeking permission to vote against public sector construction major's bid

JIL went into the insolvency process in 2017 after the NCLT admitted an application by IDBI Bank-led consortium seeking resolution of the realty firm

Mumbai, Chennai, Bangalore and Delhi-NCR were the dominant markets, with a share of almost 70-75 per cent in both new launches and sales

The liquidity crisis became apparent after infrastructure lending major IL&FS in September defaulted on few of its commercial papers, which impacted several segments, including the real estate business

According to the report, the positive sentiments can be largely attributed to the rationalisation of GST for under-construction properties

Lenders of JIL asked NBCC in its meeting on Friday to withdraw some of its clauses, including that of exemption from a tax liability

The Supreme Court had in October 2017 ordered the real estate developer to deposit Rs. 750 crore with the court's registry.

The country hardly needs more stresses now just as credit markets regain some normalcy after policy makers took steps to inject more liquidity into the financial system.

The bench adjourned hearing the matter till May 21 and said that the corporate insolvency resolution process (CIRP) would continue

The Supreme Court said that that "without the active support of the banks, this kind of large scale money laundering could not have happened"

The realty firm has an outstanding debt of nearly Rs 9,800 crore and over 22,000 of its flats in Noida remain incomplete.

An analysis of about 11,000 home builders by research firm Liases Foras in February showed that developers on average have to repay twice as much in debt each year as the income they generate that can be used to service it.

State Bank of India is offering over 1,000 residential or commercial properties across various cities in the country, according to the state-run lender's website said.

The RBI in its latest monetary policy meeting on Thursday reduced repo rate, the rate at which it lends the banks, by 25 basis points (bps) to 6%.

Under the scheme, DDA is selling 450 HIG category flats (3/2 bedroom), 1,550 MIG category flats (2-bedroom), 8,330 LIG category flats (1-bedroom) and 7,700 flats under the economically weaker section (EWS) category.