Real Estate News Update for August 9

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Piramal Capital gets creditor status in Radius Project's 5.4-acre Mumbai project

The National Company Law Tribunal (NCLT) has affirmed the legality of the charge held by Piramal Capital & Housing Finance on realty developer Radius Estate Projects’ development spread over a prime 5.4-acre land parcel in Santacruz, Mumbai’s western suburb.

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Sobha's net profit falls 50% to Rs 6 crore in Q1 FY25

Realty firm Sobha Ltd on Thursday reported a 50 per cent fall in its consolidated net profit to Rs 6.05 crore in the June 2024 quarter. Its net profit stood at Rs 12.05 crore in the year-ago period.

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Godrej properties, Sobha among top bidders for Greater Noida land

Mumbai-headquartered Godrej properties and Bengaluru-headquartered Sobha has emerged as the highest bidder of three land parcels in auction by the Greater Noida Authority.

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Blackstone to sell 33 crore units in Nexus Select Trust for nearly Rs 4,500 crore

Global investment firm Blackstone plans to sell 33 crore units in its REIT firm 'Nexus Select Trust' for nearly Rs 4500 crore through a block deal on stock exchanges, according to sources.

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UP-RERA sends 250 possession related cases to courts of adjudicating officers

The Uttar Pradesh real estate regulatory authority (UP-RERA) has sent 250 matters relating to possession of the allottees to the courts of adjudicating officers at Lucknow and Gautam Budh Nagar office.

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