Indo-Canadian developer Daljit Thind’s nearly $20 million mansion was sold just above $13 million by the lenders in a foreclosure sale after the high-flying, Punjabi film-producing Thind fell on hard times and had his financial world turned upside down with lenders quickly closing in. Real-estate publication Storys reported this week that Thind Properties has been facing a series of insolvencies on its projects and lenders have also gone after Founder Daljit Thind’s personal assets, including his home at 3138 W 51st Avenue.

By DESIBUZZCanada Staff With News Files

​VANCOUVER – Indo-Canadian developer Daljit Thind’s nearly $20 million mansion was sold just above $13 million by the lenders in a foreclosure sale after the high-flying, Punjabi film-producing Thind fell on hard times and had his financial world turned upside down with lenders quickly closing in.

Real-estate publication Storys reported this week that Thind Properties has been facing a series of insolvencies on its projects and lenders have also gone after Founder Daljit Thind’s personal assets, including his home at 3138 W 51st Avenue.

The trouble for Burnaby-based real estate development company Thind Properties started on October 11, 2024, when Toronto-based private equity real estate investment firm KingSett Capital filed a receivership application against Thind’s District Northwest project in Surrey.

Within the next three months, insolvency proceedings were launched against all of Thind Properties’ remaining projects: the completed 48-storey Highline Metrotown that was home to many unsold units, the Minoru Square project that had failed to get off the ground, the newly-acquired 6677 Silver Avenue project, and the 34-storey Eclipse Brentwood that was nearing completion, reported Storys.

In between those, however, was an insolvency proceeding that hit much closer to home for Thind Properties Founder & CEO Daljit Thind, as this proceeding was a foreclosure against both the primary residence in Vancouver that he shared with his wife as well as a secondary home they owned.

Foreclosure proceedings were initiated by Earlston Mortgage Corp, also known as Earlston Investments Corp, on December 23, 2024, and was pertaining to a general security agreement the two sides entered into in June 2023. The charge was registered against 3138 W 51st Avenue and 1542 W 28th Avenue in Vancouver. The registered owner of both homes was Daljit Thind’s wife, Harinder Thind, while Daljit Thind and D-Thind Development Ltd. served as the guarantor in the agreement, and Earlston’s filing notes that there were also second and third mortgages registered against the properties.

In a court filing, the Thinds stated that 3138 W 51st Avenue had been their primary residence for nearly 12 years and that the 1542 W 28th Avenue property was a secondary home that had been rented out to a tenant who vacated the property in January 2025. In its initial court filing, Earlston said that Thind defaulted on the general security agreement and that they issued a demand for payment on September 17, 2024 — before any insolvency proceedings had been initiated against Thind Properties’ projects — but then reached a forbearance agreement on November 5, 2024 that delayed enforcement until March 17, 2025.

As part of the forbearance agreement, the Thinds were to list and market the W 28th Ave property, authorize the lender to communicate with their broker, and not amend any leases pertaining to the property. The Thinds stated in a court filing that because the W 51st Ave property was their primary residence, they preferred to sell the W 28th Ave property first and then refinance their W 51st Ave home.

However, according to the lender, the Thinds defaulted on the forbearance agreement almost immediately, saying that the Thinds had “barred entry to the broker to West 28th and prevented showings thereon” and then “amended the Lease by extending the term thereof by 20 months and accepting 20 months’ prepaid rent.”

Upon those defaults, the lender initiated the foreclosure proceedings and the Supreme Court granted an order nisi of foreclosure on April 3, 2025, confirming the outstanding debt at $17,125,891.27, with interest accruing at a daily rate of $7,820.52. The order nisi also set the redemption date — the day by which the debtor can pay off the debt to halt the foreclosure — at June 16 of this year.

The Thinds were unable to redeem the mortgage by the redemption date and Earlston obtained a court order on June 19 allowing them to sell both properties in order to recover the debt, reported Storys.

Courtesy Storys