Track2Realty: The allegation that businessman Robert Vadra and real estate giant DLF have deep illicit links, where Vadra was given an interest-free loan from DLF, which also sold him vast amounts of property at hefty bargains in return for favours from the Congress, could not offer evidence of a quid pro quo.
Track2Realty-Agencies: Sahara Group on Friday, Sep 28, assured the Supreme Court that its two companies, which had raised Rs 24,000 crore through Optionally Fully Convertible Debentures (OFCDs) from their investors will refund the amount within three months.
The Finance Ministry will meet chief executives of leading banks today, Sep 17, to discuss credit flow to the real estate and housing sectors. According to sources D K Mittal, Secretary of Financial Services, will chair the meeting of bankers, which will take stock of credit flow to the sensitive sectors.
The government’s decision to operationalise FDI in multi-brand retail would help the realty sector as the move would create demand for retail space and boost mall development in the country, real estate developers and property consultants said.
Banking institutions have cut down on their lending to the real estate sector, according to a report put out on Wednesday by real estate consulting firm Knight Frank India.
The government plans to bring unorganised property agents and brokers under the ambit of the proposed real estate regulator, imposing stringent penalties including imprisonment on those who dupe buyers or operate without a valid registration.
Sahara India has accused market regulator SEBI of not accepting data, since Monday, of the three crore investors of the company who had invested in its optionally fully convertible debentures (OFCDs). Sahara sent the data to SEBI following a Supreme Court order to furnish documents relating to investors, supporting redemption documents, application forms, approval and allotment of bonds to the market regulator.
DLF Chairman K P Singh has warned that the current policy paralysis has had an adverse impact on the country’s growth momentum denting business confidence, and could lead to its unique demographic dividend turning into a demographic nightmare.
It is just the pipeline visibility that is driving developers like Supertech which is building north India’s tallest residential as well as tallest mixed land use project. Theyrather assert that changing demographics, lifestyle and growing aspirations have encouraged them to launch conceptually designed projects with facilities which are matchless and desired by the people.
The Centre has responded positively to the Delhi Government’s appeal to regularise more than 1600 of the city’s unauthorised colonies. However, the truth is that even after this notification, the ground reality in that these colonies are unlikely to change for now.