JLL had shortlisted over 10 developers and Embassy was selected after a long due and rigorous process of due diligence.
this move by the government is likely to iron out the current challenges for the NBFCs and in turn help the real estate sector.
Leasing activities of office and retail spaces would not be affected much.
The jewellery industry has welcomed the government's decision to ban old Rs 500 and Rs 1,000 notes, saying gold demand will rise as people will have more faith in the precious metal than the currency notes. But the unorganised builders and secondary (resale) property market would be adversely impacted.
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