The country’s competition regulator is planning to initiate an investigation next week to find whether the practices for which it fined DLF Rs.630 crore on Tuesday are the norm at other real estate companies too.
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.
The imposition of heavy penalty by Competition Commission of India (CCI) on real estate major DLF in Belaire complex case for breaching the norms regarding fair pricing is likely to have serious ramifications on the real estate industry in the city.
The net profit in the June quarter is down for all major listed real estate companies is a matter of worry for the sector in general.
Unitech Ltd, India’s second largest real estate company, and DB Realty Ltd continued to struggle with sales in the June quarter amid rising interest rates and slowing demand—a seemingly unceasing plight they share with most of the sector.
Government intervention is needed in India to bring regularization in unorganized real estate broking, says a report by Netscribes, a knowledge consulting solutions company.
Targeted developers for new building technology created by International Steel Structures (ISS) to be showcased in India were announced by Global Housing Alliance (GHA), the company in charge of licensing the technology.
Confederation of Real Estate Developers Association of India on Wednesday, August 10, said the property prices would surge if the draft Land Acquisition Bill proposed by the Rural Development Ministry came into force.
As India’s realty sector goes through a liquidity crunch with banks tightening lending norms and property sales dropping, real estate developers are turning to alternative channels of funds.
Government of Goa had initially taken a firm stand against the DB Realty Goa Project on account of the Goa Bachao Abhiyan (GBA) fierce agitation in 2006.