The long-pending legislation – Real Estate (Regulation and Development) Bill – that aims to infuse “accountability and transparency” in the realty sector, backed by stringent norms, is out in the public domain.
The two Sahara Group companies have moved the Supreme Court challenging the sectoral tribunal’s order asking the Group to refund around Rs.24,000 crore to investors.
Holiday Homes in Goa, a dream of the nouveau rich, is all set to be costlier now with the Goa Government deciding to rationalise the real estate prices in the state.
Realty major DLF has welcomed stay order by the Competition Appellate Tribunal (COMPAT) on the Rs 630-crore penalty imposed on it by the Competition Commission of India (CCI).
When the CCI alleged that DLF misused its dominant market position and imposed unfair conditions on home-buyers of two of its many projects, the real estate fraternity, legal experts and others strongly questioned the basis of the CCI order.
Ackruti City is in talks with a couple of private equity (PE) lenders to raise around Rs.150 crore by selling around 25% in its proposed redevelopment project in Chembur, north eastern suburb of Mumbai.
Mumbai’s residential home sales recovered from a 30-month low in the third quarter as new projects boosted supply, according to Liases Foras Real Estate Rating & Research Pvt.
Mumbai real estate is debating over a possible price correction as sale registrations for September recorded a 29-month low at 4,137, down 22 per cent year-on-year.
In a further blow to the dampened Diwali spirit of the realty sector, the RBI raised interest rates on today but said it was likely to hold off on further increases as it expects high inflation to ease beginning in December.
The SAT on Tuesday, September 18, upheld an order passed by SEBI against two Sahara group companies and directed them to return money raised from the public in violation of securities regulations with an interest of 15%.