Property25 Jun 2026, 05:10 pm
Velan Hotels: Hotel Property Sale Registration Delayed to July
AI Summary
Velan Hotels Ltd has announced a delay in the registration of its hotel property sale to M/s.J.P.Associates Asia Pacific Private Ltd. The delay is due to discrepancies found in the survey numbers in the TSLR sketch compared to the Town Survey Land Register. The company is working with government authorities to rectify these errors, which is expected to be completed by June 30, 2026. Consequently, the sale registration is now anticipated in the first week of July 2026. This follows previous extensions granted to the purchaser, with the latest deadline being June 25, 2026.
Key Highlights
- Hotel property sale registration delayed due to survey number discrepancies.
- Rectification process with authorities expected to conclude by June 30, 2026.
- Sale registration now projected for the first week of July 2026.
- Previous extensions granted to the non-related party purchaser.
- Company is actively working to resolve the issue with government bodies.
Price Impact
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