Budget 2014-15 has done away with the tax sunset clause of March 2014.
After months of negotiations, an entity owned by Pune-based property developer Panchshil Realty and US-based private equity (PE) company Blackstone has bought a majority stake in Express Towers.
The company will use the proceeds to part-repay its debt, which stands at Rs 34,000 crore (Rs 340 billion) even after the recent qualified institutional placement of its shares. An RCom board committee recently approved the sale of these assets.
The company plans to raise Rs 750 crore; other realtors may follow.
In January this year, Tata Sons invested an additional Rs 2,500 crore (Rs 25 billion) in Tata Teleservices which was used to repay loans of the wireless telephony company.
The company had appointed a three-member committee of directors to implement the changes.
After a long time, real estate companies could hit the fund-raising trail. The reason is improvement in investor sentiment.
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Chairman Anand Mahindra spoke to Business Standard on affordable housing.
The company is not holding plans for clarity on policy.
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Since April 1, promoters of Jaiprakash Associates have released more than 225 million Jaiprakash Power Ventures shares (valued at Rs 425 crore) pledged with lenders.
Real estate firms like DLF, Prestige, Phoenix Mills to benefit.
Early last year, the company had said it aimed to reduce its debt, which stood over Rs 21,000 crore then, to Rs 10,000-11,000 crore (Rs 100-110 billion) through the sale of non-core assets and improved cash flows.
The agreement says UB Group and Adventz will have the right of first refusal over each other's shares.
Chanda Kochhar, managing director of ICICI Bank, says the new government must take effective action bringing clarity around tax laws.
Oberoi Relaty expect 20-25 per cent premium for tis residential project.
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Revenue yield on every rupee of investment fell to Rs 1.06 in FY13 from Rs 1.20 in FY08.
The company needs Rs 2,000 crore more in 2 years to repay debt.
In October 2012, Flipkart entered the menswear segment; later it launched a womenswear range
Move to improve transparency but make liquidity more difficult to come by
Looking to put money in aviation, infrastructure and also to reduce debt of group companies.
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