Real Estate Bill sent to Law Ministry
The Real Estate Regulation and Development Bill, 2012, has been sent to the Ministry of Law and Justice for vetting, after which it will be moved to Cabinet.
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PE investments in realty sector become selective: C&W
Realty sector in India has witnessed more than $2-billion private equity investments in the last 12 months, with investors treading cautiously, according to real estate consultancy Cushman & Wakefield.
No letup in global housing market downturn; European crisis worsening, says Global Property Guide
No end to the global housing market downturn is in sight, except probably in the US, according to a survey of global house price trends by the Global Property Guide Asia is weakening, and house price falls in the worst-hit European crisis countries are dramatically accelerating.
Delay in flat transfer hits Himachal real estate
Himachal Pradesh has spiked plans of over 60 builders and developers to sell flats and cottages in the hill state. The developers include DLF, Janta Land Promoter Ltd, Omaxe Construction Pvt Ltd, Optima Construction Pvt Ltd, Amar Nath Aggarwal Builders Pvt Ltd and Surya Builders, according to officials.
Developers in Punjab oppose new levy on property transactions
Developers in Punjab have opposed the state government’s move to levy social infrastructure cess on property transactions, saying it would hit demand in the sector which is already facing slowdown.
Regularisation of Delhi’s illegal colonies
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.
Sahara Group clarifies after Supreme Court verdict
The Sahara Group has clarified their stand in public after the jolt by the Supreme Court asking them to refund within three months Rs. 24,029 crore it had collected between 2008 and 2011 from over 2.96 crore investors, flouting mandatory regulatory provisions and the Company Act. In the wake of media onslaught after the Court asked two Sahara Companies to pay 15% interest on the amount, the Group in a statement has following version in its defence.
Supreme Court asks Sahara Group to refund Rs. 17,400 crore to investors
The Sahara Group will have to refund Rs. 17,400 crore to retail investors raised in 2008-09, the Supreme Court has ruled. The apex court had upheld the Securities Appellate Tribunal (SAT) order directing two Sahara companies to refund this amount. Former Supreme Court Judge BN Agarwal will monitor the refund to investors, the court said.
VAT on flat is double taxation, says Consumer ‘FORAM’
For flat owners in Maharashtra, the VAT battle is not yet over! VAT on flats, or material used on construction, amounts to double taxation since the developer has already paid while buying them from registered suppliers, said Atul Puranik, convener of newly started consumer group FORAM – Flat Owners’ Rights protection Action committee of Maharashtra.
Meet on corporate real estate
The fifth edition of Global Initiative Restructuring Environment & Management (GIREM) Leadership Summit, the international forum for urban planning and corporate real estate, would be held at New Delhi on October 18 and 19.