#RealtyNewsRoundUp: Benami Properties Worth Rs 4,300 Cr Attached Till June 30, Says Govt

The Income Tax department has attached benami properties worth Rs 4,300 crore till June 30, the Minister of State for Finance Shiv Pratap Shukla said in Rajya Sabha. The I-T department has set up 24 dedicated Benami Prohibition Units across India to identify benami properties.

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Sahara Group has regained control over the Aamby Valley after the Supreme Court deferred the auctioning process as it failed to elicit any response from prospective buyers. The court also agreed to remove the receiver and official liquidator from the premium property, paving way for the hill city’s restoration to the Sahara Parivar.

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Global alternative investment management firm KKR & Co is making headway into India's real estate arena with a debt financing of Rs 1,800 crore in three mid-market real estate projects in Mumbai. KKR will lend around Rs 750 crore each to an upcoming commercial office project of Lodha Developers in Central Mumbai and an upmarket residential project of Shapoorji Pallonji in South Mumbai. It will fund another Rs 250-300 crore to a Thane-based residential project of Paranjpe Scheme Constructions.

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A three-storey building collapsed on an adjoining chawl in Mumbai's Bhiwandi town killing a 25-year-old woman and injuring eight others, including two children. The three-storey building, located in Khoni area, had developed cracks and one of its walls collapsed following which its 22 occupants were evacuated.