A day after its Managing Director Vinod Goenka was arrested in the 2G spectrum scam case on Wednesday, the controversial Mumbai-based real estate company DB Realty inducted his father, K M Goenka, as a Non-Executive Director.
On 11 March, a major earthquake and tsunami hit Eastern Japan. According to official statistics, the number of deceased had surpassed 13,000 as at 14 April.
The Sensex has always been a barometer of the country’s general economic ‘mood’. The real estate index, on the other hand, is an indicator of the sentiments towards real estate developers.
Starwood Hotels & Resorts has announced plans to open W Mumbai in 2015, marking the debut of W Hotels Worldwide in India.
With the Central Bureau of Investigation (CBI) charging Unitech Managing Director Sanjay Chandra as a key accused in the 2G spectrum scam and his brother Ajay Chandra appearing as a CBI testimony, it is generally believed that the two Chandra brothers are falling apart.
A Bruhat Bangalore Mahanagara Palike (BBMP) committee has recommended strict action against the lessees holding Palike property who have violated the contract norms.
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).
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.
While the real estate market in India is far from satisfactory, a section of real estate developers are exploring opportunities in neighboring nations including Sri Lanka and Bangladesh as the governments, seeking to boost economic growth, are providing incentives to develop infrastructure.
While real-estate and property advertising in India has been mostly lacklustre, a new campaign by Mumbai-based realty developer Oberoi Realty has broken the mould.