Stay updated with breaking news from Dhoot Infrastructure Projects. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The resolution will help properties worth Rs 1,100 crore see the light of day. The project includes two land parcels totalling 63 acres, with six million square feet of residential space.
Sare Gurugram Private Limited was initially developing this group housing project in Sector 92, Gurugram, when it faced financial difficulties and went into the Corporate Insolvency Resolution Process (CIRP) in March 2021, leading to a delay of 3 years to 8 years in the delivery of homes.
The interim financier based in Delhi-NCR has achieved a successful exit from its investment in SARE Gurugram Pvt Limited (Sare Gurugram) within 11 months. In August, 2022, the financier had provided interim finance to the debt-laden real estate company.
Litigation financing startup LegalPay has made its second successful exit in less than a year of providing interim finance to real estate firm Sare Gurugram ......
Flat buyers in the Sare Homes project in Gurugram staged a protest against the developer for failing to communicate about an ongoing legal process. The buyers, who have paid almost 95% of the cost of their property, allege that they have been denied their homes due to lack of communication, resulting in their inability to file their claims. A consortium recently acquired the developer under the Insolvency and Bankruptcy Code and agreed to complete the construction, but only accepted claims from 1,200 buyers out of a total of 1,699.