Several key hotel assets are up for grabs across India, as their owners look to encash them to retire rising debt or generate working capital.
Global investment firm Xander Group's real estate private equity arm has bought 570,000 sq ft of office space in Chennai for $40 million.
The ministry of housing is working with the department of financial services in the finance ministry to finalise eligibility norms of projects for ECB.
Hotel Leelaventure is in negotiations with some of its lenders to raise a total of $60.99 million for redeeming zero coupon convertible bonds due in 2012.
The retail arm of real estate developer DLF and Giorgio Armani set up a joint venture in 2008 to roll out retail stores of the luxury brand.
The committee will study best practices from across the country and suggest a standardised procedure that can be adopted.
The plot, housing an old bungalow, falls under the commercial zone, where the buyer will be able to use about 150,000 sq ft space, including parking.
The Nair family, which holds 57% of the company, Hotel Leelaventure, at present, will thereby increase its shareholding to 63% after the CDR process.
DDA is considering a proposal to increase the FSI for hotels in Delhi to 3, which would help many hotels to add a number of rooms to their existing capacity.
Qatar Investment Authority, the Gulf state's sovereign wealth fund, is looking to invest up to $10 billion in India every year.
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