#RealtyNewsRoundUp: Housing Sales Up 24% In 9 Cities, Says PropTiger Report

Home sales in nine major cities of India increased 24 per cent during the July-September quarter when compared to the same quarter the previous financial year, a report by PropTiger.com show.  New project launches, however, declined by 35 per cent during the same period. Unsold inventory on the other hand declined 11 per cent year-on-year, registering the biggest fall in 13 quarters.  

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The Noida Authority will launch a residential plot allotment scheme for which it will accept applications from November 13 to 28. Around 442 plots will be sold through the scheme, each measuring 200 square metre. These plots are located at sectors 12, 31, 33, 44, 47, 48, 49, 51, 52 and 55.

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Financial creditors of the embattled company Jaypee Infratech (JIL), including home buyers, fixed deposit holders and financial institutions, have voted online on six issues, including the appointment of a new resolution professional (RP). These stakeholders have also voted for a lower fee for the RP, acceptance of the resignations of seven independent directors and approval of Form G for invitation for expression of interest.

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Kotak Realty Fund, an arm of the alternate investment fund of the Kotak Mahindra group, has made successful exits from all its portfolios of realty projects and returned its investors about $350 million. The fund invested in structured credit in the domestic real estate market and had funded projects across Mumbai, national capital region, Chennai, Hyderabad and Bengaluru.

Meanwhile, developer Oberoi Realty has reported nearly 105 per cent year-on-year rise in net profit at Rs 213.83 for the quarter ended September. Total income for the quarter also grew 101 per cent to Rs 619.78 crore, the company said in its regulatory filing.

 Source: Media reports