DLF Cyber City Developers raises ₹1,100 crore through NCDs

DLF's rental arm, DCCDL, successfully raised Rs 1,100 crore through a private placement of non-convertible debentures at a 6.91% coupon rate. This funding comes as the joint venture, which holds 44 million sq ft of commercial spaces, reported a 26% increase in net profit to Rs 593 crore in the June quarter.

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Sahara firm seeks SC nod for sale of group's assets to Adani properties

Sahara India Commercial Corporation Ltd (SICCL) has sought Supreme Court approval to sell major properties, including Amby Valley, to Adani Properties Private Limited. This crucial step aims to expedite asset liquidation and repay investors, particularly following the death of Sahara chief Subrata Roy.

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Supreme Court allows conditional OCs for over 450 flats in Noida Sports City

The Supreme Court has directed Noida Authority to issue conditional occupancy certificates for six residential towers in Sector 150's Godrej Nest project, offering partial relief to over 450 families. This order, following a developer's petition, is subject to ongoing legal outcomes and the completion of promised facilities, explicitly not setting a precedent for other Sports City projects.

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CBI crackdown on builders, officials of financial institutions nexus

The CBI conducted searches at 12 locations across Kolkata, Bengaluru, and Mumbai, registering six fresh cases against builders and financial institution officials. This action, directed by the Supreme Court, targets alleged cheating and defrauding of homebuyers through 'Subvention Schemes'. Incriminating documents and digital evidence were seized during the ongoing searches.

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No occupancy certificate needed for buildings above 1,200 sq ft in Bengaluru

However, the Advocate General has clarified that not all large buildings can be exempted; the government has powers to selectively grant relief after verification.

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Allahabad HC to reopen ₹295 crore land payout case after Supreme Court order

The Allahabad High Court will re-examine the Rs 295-crore Reddy Veeranna land compensation case following a Supreme Court ruling that deemed the original payout fraudulent. Veeranna allegedly misled courts to secure enhanced compensation for land in Noida's Sector 18, now the site of DLF's Mall of India. The rehearing will determine the rightful compensation share among the original co-owners.

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Gentex Merchants buys Lutyens’ bungalow for ₹310 crore

Gentex Merchants Pvt Ltd, linked to Lakshmi Mittal, acquired a 3,540 square yard bungalow on APJ Abdul Kalam Road in Delhi's Lutyens’ Bungalow Zone for Rs 310 crore. The property was previously owned by Yashwant Singh, who recently purchased a bungalow in Golf Links. This transaction highlights the continued demand for high-value properties in India's most prestigious neighborhood.

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