HDIL has about 1 million square feet of land under TDR (transfer of development rights). The ongoing projects which were part of the airport scheme will not get affected, according to the company.
Bank of India has a loan exposure to HDIL. However, N Seshadri, ED, Bank of India told CNBC-TV18 that their exposure is very limited and it is not concerning.
Kapil Wadhwan, MD, Dewan Housing Finance Corporation clarifies on CNBC-TV18 that his company severed all links, including cross-ownerships, directorships, intercorporate loans and joint holdings, with HDIL since 2009.
"We are aiming at debt reduction; this move was primarily to fund the land acquisition we had entered into about a year back," Wadhwan explained to CNBC-TV18.
In an interview with CNBC-TV18, Sarang Wadhawan, VC & MD, HDIL said that they have not managed to do a great deal with the Transfer of Development Right (TDR) sales largely due to the lack of clarity about development control regulations (DCR). The company is expecting TDR sales to pick up from the next quarter.
Real estate builder and developer Housing Development and Infrastructure (HDIL) is all set to shift its focus towards the housing projects over the Transfer of Development Rights (TDRs) market for the forthcoming quarter, says vice chairman and managing director, Sarang Wadhawan.
Days after Competition Commission of India (CCI) struck a blow of Rs 630-crore penalty on real estate major DLF, rival company HDIL stands by the industry, specifying that everything is in black and white.
Apparently, the MMRDA has started moving slum based families away for the Mumbai airport rehabilitation project to the Kurla facility. Sarang Wadhawan, MD, HDIL said it’s a big positive development for the company.