#RealtyNewsRoundup: Bank of Baroda To Buy Majority Stake In Central Bank's Housing Finance Arm [Video]
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Realty News Roundup is PropGuide's selection of the day's top stories from the real estate sector.
To strengthen its position in the home loan segment, Bank of Baroda is in talks to buy a majority stake in Cent Bank Home Finance Ltd. (CBHFL), the housing finance subsidiary of Central Bank of India. Central Bank holds 64 per cent stake while Hudco, UTI and National Housing Bank are the other promoters.
Realty firm Parsvnath Developers has raised about Rs 200 crore through debentures to give exit to global investment firm JP Morgan from its housing project in the national capital's Civil Lines area. This project, comprising 453 units with a built-up area of 20 lakh sq ft, is being developed at a cost of Rs 700 crore.
Shapoorji Pallonji Group's real estate arm SP Real Estate expects its residential portfolio to reach 20 million sq ft over the next six years in cities like Chennai, Bengaluru, Pune, Noida, Gurgaon and Mumbai. The company has joined hands with investors for its affordable housing 'Joyville' projects. The first such project is coming up at Howrah in Kolkata.
Realty developer K Raheja Corp and Singapore's sovereign wealth fund GIC are in talks to acquire a prime three-acre land parcel in Worli in the heart of Mumbai from Siemens India for around Rs 600 crore. Both companies plan to develop a five-lakh-sq-ft commercial project at the site.
Source: Media reports