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Regulatory
Mumbai based Developer asked to compensate home buyer for delay in delivery
A group of home buyers, following the delay in the delivery of project Sheth Midori in Mumbai’s Borivali suburb, had moved the authority seeking compensation on account of the delay Gautam Chatterjee, MahaRERA chairperson, ordered that in cases where the developer hasn’t handed over possession, he shall pay buyers an interest, as prescribed by the law. And in a specific home buyer’s case, he ordered the developer to refund since…
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Regulatory
Lodha Developers to file for $1 billion IPO this month
  SINGAPORE: Lodha Developers plans to file the draft prospectus for a $700m-$1bn IPO later this month and is targeting a launch in the second quarter, people with knowledge of the transaction have said. Citic CLSA, JM FinancialBSE -6.27 %, Kotak and Morgan Stanley are the bookrunners. The Indian property company planned an IPO of Rs28bn (US$437m) in 2010, but did not launch because of weak market conditions. Citigroup, Enam,…
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Regulatory
MCLR raised by private banks and a rise in Home Loans
Private sectors bank had hiked their Marginal Costs of Funds based Lending Rate (MCLR) upto 10 basis points and the deposited rate has been increased by 50 bps across all tenors.   All the rates of the loans are linked to MCLR and will go increased after this revision. 5-1 was voted by the RBI’s monetary policy committee for keeping the policy rate of 6% on hold after the inflation…
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Regulatory
Rs 20,000 Crore raised by SBI for Infrastructure and Housing
A notification given from State bank of India for rising Rs 20,000 Crore for financing the affordable housing and the infrastructure by the long-term bond in the domestic and the overseas market in FY 2017-18 and FY 2018-19.   This fund rising would be done publically or by a private placement of unsecured notes in US dollars or in any other convertible currency and SBI has a closed share of…
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Regulatory
Base rate reduced to 8.65% by SBI
Base rate is reduced by 30 basis points to 8.65% by State Bank of India which was the older lending benchmark and no changes has been made in MCLR (Marginal Cost of Lending Rate) which is the current benchmark.   This reduction is being benefited for those borrowers, who had raised the floating rate loans which includes the home loans before April 2016.   The range of SBI is from…
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Regulatory
Rs 9,000 crore received by DLF through CCDs
DLF have received Rs 9,000 crore through the issue of Compulsory Convertible Unsecured Debentures (CCDs) which are the share warrants to the promoters.   33.97 crore CCDs is being received by the company and promoters have received 13.80 crore share warrants at Rs 217.25 each as according to its previous plan of raising Rs 11,250.   Rs 8,250 crore has been received by DLF for the allotment of fully paid…
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