Ranchi Police move court in real estate scam
Ranchi Police on Tuesday filed an application in the court of first class judicial magistrate Shekhar Kumar to seek an order to seize properties of all the accused of real estate scam unearthed recently.
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Real estate top violator of black money, economic intelligence informs Finance Ministry
Economic intelligence agencies have informed the Finance Ministry that a major chunk of illegal funds and black money is being generated and routed in the real estate sector of the country.
Tata Realty and Infra to foray into hospitality
Tata Realty and Infrastructure (TRIL), a wholly-owned subsidiary of Tata Sons, is foraying into retail and hospitality segments through a new subsidiary, TRIL Hospitality Services. The company, which has about Rs 6,000-crore projects at hand, would also commence work on two more projects, and this would add business of Rs 3,000 crore, said a senior TRIL Infopark executive.
Real Estate Regulatory Bill likely in next Parliament session
Within hours of Track2Realty reporting that the much awaited Real Estate Regulatory Bill will not be tabled in the current session of parliament, the government has confirmed it by announcing that the Bill is likely to be presented in the next session of Parliament. The Bill is expected to be tabled before the Union Cabinet shortly, said Aruna Sundararajan, Joint Secretary, Union Ministry of Housing and Urban Poverty Alleviation.
Real Estate Bill not to be tabled in the current session of Parliament
The much-awaited regulatory Bill for the real estate sector will not be tabled during the current session of Parliament, a senior official in the Ministry of Housing and Urban Poverty Alleviation has confirmed to Track2Realty. The draft Real Estate Regulation Bill is still in the consultative process and the government is apprehensive that the states may block it the NCTC way.
Banks and institutional lenders overcautious with realty
In the coming months, the pressure will be to reduce debt-to-equity ratios. With so many developers in debt already, the industry is trying to come out of the situation and 2012 will not be much different. It won’t be easy and the developers are trying various routes. Selling of developed projects, vacant land is a route taken by many developers. Several developers are now providing attractive terms to PE funds to securing funding.
Tata Housing’s La Montana the only Indian project to represent APAC at the International Property Awards, London
Tata Housing Development Co. Ltd., has bagged one of the most prestigious Asia Pacific Property Awards 2012 (part of the International Property Awards), 4th year in a row bagging five coveted awards under various categories.
50 Indian companies participate in realty conference in Sri Lanka
India-Sri Lanka bilateral trade has increased by over 65% last year, close to U.S. $5 billion, Indian High Commissioner to Sri Lanka Ashok K. Kantha, has said.
Disconnect in policy & practice of real estate
Track2Realty Roundtable-III Venue—India Habitat Centre Moderator—Ravi Sinha, CEO & Managing…
JLL India CEO quits plans to launch realty fund
Even as fund raising in India seems to be tough,…