After making a mark in almost all areas it has touched so far, diversified conglomerate Jaypee Group has now set its eyes on the dairy sector, where the growing demand-supply gap is only set to widen further.
Sahara Housing Investment Corp. Ltd and Sahara India Real Estate Corp. Ltd, two firms that are part of the diversified Sahara India Pariwar group, continue to raise money from the public, defying a ban on such activity by capital market regulator Securities and Exchange Board of India (SEBI).
Siemens is now in talks with developers Hiranandani Upscale and Nitesh Estates after its proposed sale of an eight-acre factory land in Bangalore to RMZ Corp missed deadline, said sources close to the development.
Income-Tax officials raided the offices and residences of real estate czar, Century Group owned by P Dayanand Pai and Satish Pai, and Manipal University managed by the Pais.
Demand for residential development will continue to remain unabated, but the requirement of real estate by retail industry over the next five years and even thereafter will provide a major thrust to the property market in India, said CB Richard Ellis’ global president Robert E Sulentic.
The government is keen to clean realty deals and wants to crack down on money laundering. It wants a closer look at the real estate market, widely perceived to be the biggest sink of black money in India.
Unsold, vacant, no takers…these words aptly sum up the story for real estate developers into malls in India. Even though retailers are spreading their wings once again after the slowdown, the absorption of malls remains sluggish, leading to high vacancies.
“Reduction in taxes and flexibility in approval process will provide affordable homes to the masses. If these two elements are addressed by the government, selling price of the homes will be reduced by at least 33%,” said Lalit Kumar Jain, President of CREDAI.
Supertech Ltd has bagged three awards at Building Industry Leadership Awards 2011. The company was honored with North India’s 1st tallest residential developer, lifetime achievement and young entrepreneur awards.
Central Business Districts (CBDs) are supposed to be the lifeline of the city and a mirror of the economic activity and real estate market trend.