A prime property in Juhu Vile Parle Development, Mumbai, is set to be auctioned due to failed payments to State Bank of India and Union Bank of India. The residential building houses Bollywood celebrities like Sara Ali Khan, Arjun Kapoor, and Shatrughan Sinha.
Supertech's bankruptcy raises concerns for 11,000 home buyers about delayed possession and financial claims as the company appeals the National Company Law Tribunal's decision.
Supertech's bankruptcy declaration by NCLT may impact 25,000 home buyers, but the developer asserts that project operations will continue unaffected.
In 2009-10, banks showed mixed responses to lending in real estate, with ICICI reducing lending while others increased, impacting residential and commercial sectors differently.
RBI's stricter loan restructuring norms for real estate developers are pressuring builders to reduce property prices or face funding shortages. This move aims to address rising NPAs and revive the struggling real estate sector.
Hyderabad's Totem Infrastructure enters real estate with ₹200cr project, aims for 25% portfolio share