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Homebuyers protest Orbit project auction in Mumbai
Q: Homebuyers held a protest at Orbit Corporation's project in Andheri at the project site against auction of the property.

real estate
lic housing finance
orbit corporation
projects in andheri
sarfesi
pujit aggarwal
Latest Answer: Hey Guys, Do you know that the LIC Housing Finance took possession of the property in December 2013 after the developer defaulted on loan of 96 crore, out of total dues of 250 crore on the loan taken in 2008.
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LIC Housing Finance blocks Orbit Corp's Mumbai project
Q: To recover its dues, LIC Housing Finance has blocked realty developer Orbit Corporation's premium residential project in Mumbai

lic housing finance
default of loans
orbit corporation
premium residential project in mumbai
Latest Answer: True Manis, As per the news, LIC Housing Finance had taken possession of the property following the developer defaulting on loans worth Rs 96 crore out of total due of Rs 250 crore. They will auction the property for defaults of loans.
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