CHD Developers has acquired Empire Realtech, a company holding about 12.34 acres of land at Sector 106 in Dwarka Expressway, Gurgaon. This land is licensed and has all approvals in place. CHD Developer acquired entire shareholding of Empire Realtech, pursuant to which it has become a wholly owned subsidiary of CHD Developers Ltd.
Indian real estate companies, which borrowed heavily during the peak of the economic cycle and rosy business forecast, are now caught in the vortex of piling debt post-slowdown. Most of the realtors who went on a land bank acquisition with borrowed money are struggling to repay even the interest and banks look reluctant to restructure the debt any more.
Track2Realty Roundtable-IV Venue—India Habitat Centre Moderator—Ravi Sinha, CEO & Managing…
Ozone Group, the Bangalore-based realty developer, is raising a debt of Rs.500 crore from a consortium of banks led by State Bank of India (SBI) for its upcoming residential cum commercial township project – Ozone Urbana.
For buyers as industry stakeholders, the biggest advantage that the Model Real Estate Regulation Act offers is that there will be an arbitratory body available to attend to grievances and redressals.
Mayfair Group of hotels, the largest premium hotel chain in eastern India, has acquired the Palm Beach property of the Oberoi Group located at Gopalpur in Orissa at a cost of Rs.10 crore.
While the land acquired by the Uttar Pradesh Government along the Expressway has snowballed into a political slug fest, the National Highways Authority of India (NHAI) still believes that is the way to go.
Over 60% of Indian software exports are to the US, and nearly 20% are to Europe. Since both these geographies are affected, there will eventually be an impact on Indian IT companies.
Dynamix Balwas (DB) Realty, the Mumbai-based realtor, has decided to buy upto 49 per cent stake in its hospitality arm, DB Hospitality Ltd, an unlisted arm where the promoters hold a majority stake.
ATS Group, the Noida-based developer has announced its foray to the Gurgaon property market with residential projects.