India's real estate sector is set to witness a growth in the upcoming months on account of the government's demonetisation move, lowering of housing loan interest rates by banks, implementation of RERA Act, among others.

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However ,the bank credit given to the real estate developers in the country has witnessed a weak growth of 1% year-on-year for January this year, JM Financial said citing the Reserve Bank of India (RBI) data in its report dated March 3. 

The bank credit has come down to Rs 1,78,200 crore at the end of January 2017 while for the September 2016 the credit book to the developers had increased by 10% to Rs 1,81,000 crore. 

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Here are five key happenings that you should know about the country's real estate sector this week:

1. DLF to negotiate agreement with GIC Singapore for sale of 40% equity shareholding in DLF Cyber City Developers:

DLF promoter group companies namely Rajdhani Investment & Agencies, Buland Consultants and Investments and Sidhant Housing and Development Company to sell 159.7 million Cumulative Compulsorily Convertible Preference Shares of DLF Cyber City Developers (40% of equity shareholding) to GIC Singapore. Definitive transaction documents and execution of Exclusivity Agreement is to be negotiated as a next phase. 

2. Videocon's Fort House to be sold for Rs 300 crore to Dawat-e-Hadiyah:

The Rs 300 crore  transaction is among the biggest in South Mumbai this year, but would be toward the lower end of the rate gradient for a property of that size and in that location. Dawat-e-Hadiyah, a charitable trust of the Dawoodi Bohra community, has entered into an agreement to acquire the DN Road heritage property that has 1.50 lakh square feet office space. 
 
3.Mutual Funds to give 15 days for exit option to REITs, InvITs investors: 

Mutual Fund schemes investing in Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) will have to give 15-day time to unit-holders to exercise exit option. These two funds are expected to help garner billions of dollars for the country's real estate and infrastructure segments.

4.Commercial leases worth Rs 3,000 crore in top seven cities set to expire in 2017:

Commercial lease rental agreements worth Rs 3,000 crore across top seven property markets across India are likely to expire in 2017, according to Propstack. The expiry of these lease agreements for around 30 million square feet grade A office space would lead to nearly 1,600 new transactions. The new leases are expected to generate monthly rentals of over Rs 255 crore through these properties in cities including Mumbai, Bengaluru, Pune, Gurgaon, Noida, Chennai.  

5.Sahara will sell townships, land to raise over Rs 5,000 crore:

The Sahara group could lose its marquee Plaza Hotel in New York along with a string of valuable real estate in several Indian cities with the Supreme Court (SC) asking it to deposit Rs 5,000 crore of the Rs 14,000 crore outstanding by April 2017. 

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