Lehman Realty Assets in India

Posted on September 19, 2008

Filed Under India Property News | 1 comment

Recent collapse of Lehman has the Department of Industrial Policy and Promotion (DIPP) and the Reserve Bank (RBI) meeting soon to discuss the situation.

Lehman has $500 million investment in Indian real estate projects. Lehman invested $200 million last year in DLF promoter group company DLF Assets. It has also invested $80 million in Bangalore based SEZ Gandhi City and 40% stake in an IT park project of Peninsula Island in Hyderabad for Rs. 50 crore.

As per Foreign investment norms of real estate, repatriation of funds within three years of investment is not allowed. This was there to prevent investment of hot money by hedge funds and venture capital funds.

The meeting will happen soon to come up with a mechanism to deal with such cases. They will see if permission can be given to liquidate Lehman’s assets in India by waiving the lock-in.

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One Response to “Lehman Realty Assets in India”

  1. Lehman Realty Assets in India : PerSquareFeet : Realty Bytes on October 6th, 2008 11:31 am

    […] Lehman Realty Assets in India Author: India Property News Admin - Categories: India Property News Recent collapse of Lehman has the Department of Industrial Policy and Promotion (DIPP) and the Reserve Bank (RBI) meeting soon to discuss the situation. Lehman has $500 million investment in Indian real estate projects. Lehman invested $200 million last year in DLF promoter group company DLF Assets. It has also invested $80 million in Bangalore based SEZ Gandhi City and 40% stake in an IT park project of Peninsula Island in Hyderabad for Rs. 50 crore. (more…) […]

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