Hiranandanis have roped in Cherie Blair, the wife of former British Prime Minister Tony Blair and a Queen’s Counsel (QC), as an arbitrator for a Rs 1,400-crore dispute in the family. The other arbitrators are another QC and former Delhi High Court Chief Justice A P Shah. The panel is expected to solve by June the scrap between brother and sister, who are both high-fliers in their own right.
SARE Homes (South Asian Real Estate) has launched ‘Petioles’, privacy apartments with Gurgaon’s first luxury private Sky Deck in Gurgaon, Sector 92. Developed on a sprawling 48-acre integrated township, Petioles claims to be Gurgaon’s first luxury private ‘Sky Deck’ consisting of a viewing deck, yoga and meditation zone, viewing deck, water wall and putting green.
In a major reshuffle, Dubai-based real estate developer Emaar Properties on Monday recommended a new board increasing the strength of members to 11 from the present eight.
Over the last one year, capital values rose by more than 30-35% in Gurgaon’s residential sector. Developers are now going slow on execution of real estate projects, resulting in a drop in supply of residential apartments in most prime markets. Emerging residential areas are still not able to meet the huge housing demand.
“For the real estate and housing sector, this years’ budget has exceeded expectations given the pressure on fiscal situation. Most importantly, it has taken into account the crying need to focus on affordable housing sector by allowing ECB for low cost housing, road as well as construction. Withholding tax on ECBs for affordable housing has been reduced from 20% to 5% for 3 years and this move will help ease the liquidity in the sector.
Our reaction to Union Budget 2012-13 is mixed at best. It seems fair to state that the Indian real estate sector does not have much to cheer about.
The recently tabled Land Acquisition, Rehabilitation & Resettlement Bill, 2011 in Parliament is meant to replace the 117-year-old Land Acquisition Bill of 1894.
The Company Law Board (CLB) has asked real estate company Unitech to decide by Monday if it wanted to buy its joint venture partner Telenor’s 67 per cent stake in telecom company Uninor or sell its 33 per cent stake to the Norwegian firm.
Tata Housing has launched its first pan-India retail brand – GoodLife, specially designed to bring mall culture to urban localities where there are no malls.
Fearing share price manipulation with the help of certain ‘independent’ research reports onIndian companies, market watchdog Sebi may soon bring all kinds of research analysts under its regulatory ambit.