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representative imagePiramal Capital & Housing Finance Limited Two office spaces spread over 22,524 sq ft have been sold in the commercial tower TCG Financial Center 110 crores in Mumbai’s business district Bandra-Kurla Complex for over Rs. TCG Urban Infrastructure Holdings.
This is part of the buyback deal TCG Urban Infrastructure sold the same office space in 2013 Dewan Housing Finance Corporation Limited ,DHFL), which is now merged with Piramal Capital and Housing Finance Limited,
DHLF had then bought these offices, spread over the 9th and 10th floors of the commercial tower in G Block, BKC, for Rs 95 crore. He then paid stamp duty of Rs 4.75 crore for registration of the deal.
TCG Urban Infrastructure Holdings completed and registered the deals for both the offices on March 28 last week and paid stamp duty of Rs 6.60 crore, showed documents accessed through CRE Matrix.
As part of the deal, TCG Urban Infrastructure Holdings will get exclusive access to a total of 31 car parking slots.
ET’s email queries to Piramal Capital & Housing Finance and TCG Urban Infrastructure Holdings remained unanswered till the time of going to press.
NBFCs actively selling bad loans to clean stressed books DHFLWhich he acquired in a bankruptcy auction in September 2021. It had acquired DHFL for Rs 34,250 crore, which included Rs 14,717.4 crore in cash and bonds issued to DHFL lenders for Rs 19,532.5 crore.
ET had recently reported that Piramal Capital & Housing Finance will sell the Rs 5,546-crore bad loan portfolio it inherited from DHFL. JM Financial The asset reconstruction company failed to attract any counter offers following the Swiss challenge auction.
JM Financial ARC Has offered to buy the portfolio for Rs 2,550 crore, equivalent to 46% recovery rate.
In June 2022, NBFCs sold distressed loan portfolio worth Rs 4,451 crore VSJ Investments In two installments.
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