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SBI-led lenders seek RBI approval to transfer JAL's ₹18,000 crore debt to NARCL for a ₹10,000 crore acquisition, impacting IBC processes and NCLT resolutions. Dalmia Cement offers ₹5,666 crore for JAL's units amid ongoing litigations.
In the case of JAL, State Bank of India has the largest debt hold at 26%, followed by ICICI Bank at 19% and IDBI Bank at 11%. The company has total principal outstanding debt of ₹17,700 crore as of March 2023.
The real estate has pinned high hopes on FM Nirmala Sitharamans Interim Budget 2024.
The surge is primarily owing to the increase in demand in housing basis growth in key parameters including population in both urban and rural areas, healthy macro-economic indicators and favorable demographics, with several Tier II, III cities projected to spearhead both demand and supply.
The Confederation of Real Estate Developers Associations of India (CREDAI) plans to certify 1 lakh homes and 25 million sq ft of commercial real estate with green building certifications annually. The organization has directed developers to ensure all projects developed by them comply with green building certifications. Green-certified office stock in India has increased by over 36% since 2019, with Bengaluru, Delhi-NCR, and Mumbai leading the way.