In what real estate experts see as a sign that land rates are becoming more realistic, a 135-acre plot that belonged to the defunct PAL-Peugeot auto company in Dombivli has been auctioned off to Metropolitan Infra Housing Pvt Ltd (a subsidiary of Gammon India) for Rs 601 crore.
Real Estate Development, Investment and Advisory firm Netz Realty is launching townships near Mumbai and Bangalore. The Singapore based Netz Capital backed firm Netz Realty is launching Green Township projects on the model of self sustainable living for the 100 acres plus projects being planned near Mumbai and Bangalore.
The Competition Appellate Tribunal (Compat) has refused to stay the proceedings of the Competition Commission of India (CCI) against real estate major DLF and permitted the competition watchdog to go ahead with its inquiry. Compat will hear the case on February 10.
Rose Valley Real Estate and Construction Limited has filed a writ petition in the Calcutta high court, challenging the order of Securities and Exchange Board of India (SEBI) for virtually stopping its business. The case will come up for hearing in the court of Justice Jayanta Biswas on Thursday.
In an embarrassment to realty major DLF, GlaxoSmithKline Consumer Healthcare Ltd (GSKCH), the FMCG company that owns leading brands such as Horlicks and Boost, has filed a case against DLF over charges of violations of its agreement in one of the commercial projects in Gurgaon.
Jones Lang LaSalle today announced it has launched a website – Lease Accounting Changes, to deliver leading-edge strategies, tools, and information to help corporations worldwide navigate the upcoming changes in global lease accounting treatment.
With liquidity from traditional channels like banks and equity markets drying up for property developers, non-banking finance companies (NBFCs) have raised rates for loans to real estate companies by two-three percentage points (200-300 basis points). The rates have gone up from 15-19 per cent to 17-22 per cent. The rates vary according to the developer, the project and the requirement of the company, say NBFCs and consultants.
Shares in Indiabulls Real Estate rose as much as 4 per cent on Tuesday morning, while those of group firm Indiabulls Power rose more than 3.5 per cent, after the real estate firm said it received board approval to restructure its businesses.
U.S. billionaire real-estate developer Donald Trump is entering the Indian realty market with a luxury residential tower in Mumbai, more than two years after announcing plans to expand in the south Asian nation. Trump, who has partnered with Mumbai developer Rohan Lifescapes Pvt. for his first venture in the country, expects to start marketing the project by March, said Donald Trump Jr., Trump’s son and executive vice president at the Trump Organization LLC.
