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Targeting the growing corporate sector in India, global serviced-residence owner-operator The Ascott International aims to double its presence by 2015 at an investment of about USD 250 million.
While 560-odd investors were duped by Emaar MGF, banks too were defrauded.
It may well go down as one of the biggest real estate scams in the country. The controversial Commonwealth Games village builder, Emaar MGF, has fraudulently sold off over 560 plots it did not own to unsuspecting buyers in Mohali (Punjab).
The long-pending legislation – Real Estate (Regulation and Development) Bill – that aims to infuse “accountability and transparency” in the realty sector, backed by stringent norms, is out in the public domain.
DLF has said its net debt increased by nearly Rs.1,000 crore in the July-September quarter to Rs.22,519 crore, mainly due to delayed receipt of payments related to non-core asset sales.
The two Sahara Group companies have moved the Supreme Court challenging the sectoral tribunal’s order asking the Group to refund around Rs.24,000 crore to investors.
Holiday Homes in Goa, a dream of the nouveau rich, is all set to be costlier now with the Goa Government deciding to rationalise the real estate prices in the state.
DLF Limited has recorded consolidated revenues of Rs 2,577 crore for the quarter ended September 30, 2011, an increase of 2% from Rs.2,520 crore in Q2 FY11.
The global debt funding gap is estimated to total US$142bn over the next three years (2012-2014) according to latest research from DTZ.
Ackruti City, the developer with major presence in Mumbai and MMR is now Hubtown Ltd following its name change which came into effect from October 31.