“Kotak Realty Fund, a part of Kotak Investment Advisors, has invested Rs. 240 crore in an under-construction shopping mall in Chennai and Rs. 80 crore in an ongoing office project in Mumbai from its $250 million offshore fund,” reported Livemint. Both the deals have been funded through debt financing by the issue of listed, secured, non-convertible, redeemable debentures by C&J Corporate Park, a group entity of National India Bullion Refinery to Kotak Realty.

J Sagar Associates (JSA) acted for Piramal Enterprises which invested Rs 65 crores in the development of a residential-cum-commercial project of around 630,000 square feet on Bangalore’s Sarjapur Road, Bangalore by Krishna E Campus, which was advised by Wadia Ghandy.

JSA Bangalore partners Vivek Chandy, Raj Ramachandran and Malini Raju, with senior associate Asok Chacko Thomas and associate Lalu John Philip assisted Piramal.

Krishna E Campus, which is an affiliate of KMB Estates, was advised by Wadia Ghandy Bangalore partner Ankit Majmudar, who is due to join Platinum Partners early next year.

The deal involved advice on title, investment and due diligence. Chandy commented: “The transaction was quite interesting as the same involved corporate restructuring of KECPL and exit of one of the promoters at the same time as the investment was being made.”

Khaitan & Co partner Siddharth Shah has been included on the Bombay Stock Exchange’s (BSE) advisory group on real estate investment trusts (REIT) alongside 10 representatives of various banks, real estate and financial services companies, according to the PTI.

REITs are aimed at attracting long-term funds to the cash-strapped realty sector from both foreign as well as domestic investors.

It is hoped that after the newly announced budget’s exemption from capital gains tax to popularise REITs, they will bring in around $10bn of foreign funds into the realty sector by the end of this fiscal.

Luthra & Luthra advised Max India’s year-old subsidiary arm Antara Senior Living in setting up a Dehradun-based living community for senior citizens.

AntillaDMH for YES Bank founder family’s SPV, Kanga for sellers Citi and GSK.

Exclusive: Amarchand Mangaldas and Phoenix Legal have advised on private equity firm India Property Fund’s buyout of 49 per cent stake in developers Ramprastha Group’s housing project Skyz for Rs 120 crore.

Crawford Bayley & Co has advised Clariant Chemicals on Rs 240 crore ($53m) real estate transaction involving the sale of its Mumbai-suburban factory premises to Kalpataru Builders-owned Ananta Landmarks, which hired Mumbai law firm Federal & Rashmikant as legal counsels.

Khaitan & Co and Kanga & Co have assisted on the sale of more than 74,000 square metres of industrial real estate in Andheri East, Mumbai from Borosil Glass Works to Neepa Real Estate Private Limited for Rs 830 crore ($178m).

Crawford Bayley sold 350,000 square foot of client Bombay Dyeing and Manufacturing Company (BDMC)'s real estate complex in Parel to Khaitan & Co client Axis Bank for around $170m.

factory-abandoned_by-Maximo_lopezKhaitan & Co and Wadhwa Group's in-house counsel have closed Mumbai's largest land deal of the year, in the 18.18-acre land purchase in the eastern suburbs of Mumbai from Hindustan Composites (HCL) for Rs 571 crore ($125m).

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