The COVID-19 pandemic has sped up a flight to the suburbs, with big-city condo dwellers trading up to detached homes with backyards and home offices, mirroring trends seen in cities like New York and London.
Sources said that there are six to seven new companies that have submitted their Expression of Interest, while some bidders are in talks about opting for a joint bid on the project.
The latest example of a foreign investor stepping in came Tuesday, when India’s central bank asked Singapore-based DBS Group Holdings Ltd.’s India unit to take over capital-starved Lakshmi Vilas Bank Ltd.
BMC took possession of the Rs 200-crore property from the lessees, Prakash and Manoj Pandya, after they were charged with carrying out illegal constructions and digging a well without permission for the past several years.