At a time when investigations into the “mother of all scams” the 2G spectrum allocation scam allegedly by former telecom minister A Raja and owners of some telecom firms are in full swing and the Apex Court is monitoring the investigations, it has come to light that the Rural Development Ministry has been awarding projects to a major infrastructure and finance company, IL&FS which had invested in the scam tainted DB Realty.
The Confederation of Real Estate Developers’ Association of India (CREDAI) demands the proposed law to regulate the development of India’s real estate sector must be comprehensive to address the interests and responsibilities of all stakeholders.
Union minister for urban development Kamal Nath on Thursday said the number of approvals a developer has to get will have to be cut down for faster and more efficient property development in the country.
CB Richard Ellis Group Inc., the commercial real estate services company has reported first quarter 2011 revenues of $1.2 billion compared with $1.0 billion in the year-earlier quarter, reflecting an increase of 16%.
Budget housing is fast becoming big business with more and more real estate companies trying to please the masses with pocket-friendly offerings.
Fraudsters will soon find it difficult to dupe banks by mortgaging the same property with two lenders or selling mortgaged property.
Ascendas India Development Trust (AIDT), the India-focused real estate fund floated by Singapore-based office space developer, is looking to raise close to $350 million.
Faced with the non-compliance by the real estate companies, Brand Capital, earlier known as Times Private Treaties, the ad-for-equity business of publishing group Bennett, Coleman and Co. Ltd (BCCL), has hired real estate consultant Knight Frank India Pvt. Ltd to manage its real estate portfolio.
A Nagpur-based real estate developer Gopal Kondawar has sought action against former civil aviation minister Praful Patel squarely blaming him for pushing the national carrier to bankruptcy.
The Income-Tax department is planning to look into all suspected real estate deals to check involvement of black money component and tax evasion.