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In what could be biggest shake up in India’s retail sector, and cheer up the real estate developers also who are at the receiving end by the retail partners, the global major retail Walmart is in talks with Big Bazaar for stake.
The income tax department has conducted a search operation on Mumbai-based Kanakia Group. The raids were conducted early morning, in Mumbai and Lucknow for alleged tax evasion.
Gaursons Hi-Tech Infrastructure Pvt. Ltd. (a Group Company of Gaursons India Ltd & Saviour Builders Private Limited) has launched Gaur Mulberry Mansions in Noida Extension.
DB Realty, the tainted Mumbai-based real estate developer whose name figured in the 2G spectrum investigations, has lost its fourth director since February.
Atlanta Ltd has announced that it is a company with deep rooted presence in three of the country’s fastest growing segments; infrastructure development, mining and realty.
The Comptroller and Auditor General of India (CAG) has taken a strong objection to the military authorities in Karnataka who have permitted unauthorized use of defence land for constructing shopping malls and halls in gross violation of rules and without sanction from the Defence Ministry.
Australia’s Platinum Investment Management has raised its stake in India’s second largest real estate firm Unitech to 5.16%.
Indian buyers usually pay for apartments before construction has been completed. Many buyers do not take out mortgage loans (the ratio of housing loans to GDP is less than 5% in India).
Indian house prices rose rapidly from 2002 to 2007. Strong economic growth and urbanization supported house prices, while in city centres a housing bubble was encouraged by inadequate infrastructure, lack of planning and antiquated land use laws.
Global financial meltdown and the NRIs fear psychosis with the collapse of financial institutions seems to have by default been the catalyst to the realty boom in Punjab.