Realtor may be barred for altering financial conditions
The finance ministry has asked the central bank to bar real estate firms from seeking banking licences and alter conditions relating to financial inclusion and stake dilution by promoters.
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Court dismisses Rose Valley Petition
Calcutta high court on Wednesday dismissed a writ filed by Rose Valley Real Estate and Construction Company Limited, challenging an order of the Securities and Exchange Board of India (SEBI).
CII urges capital flow in housing
The Confederation of Indian Industry (CII) has said there is a need to improve the infrastructure and increase in flow of capital in the housing segment, given the increase in the land prices.
DLF, Unitech to miss FY 11 sales target
Indian real estate majors, DLF and Unitech, are set to miss their FY11 sales target, despite prices reaching the highs of 2007. Mid cap names like HDIL, Ackruti City and Sobha Developers are however on track to meet their targets.
ED raids realtor Hasan Ali’s CA residence
The Enforcement Directorate (ED) today, March 23, carried out searches at the Pune residence of Sunil Shinde, the chartered account of realtor and stud farm owner Hasan Ali Khan, who is facing charges of money laundering and tax evasion.
Realtors protest new bill
Real estate developers have expressed their reservations to the proposed Real Estate Bill 2011, which is likely to see light by this year-end.
Kotak property arm to rise up to $500 mn for India buys
Kotak Realty Fund, the property investment arm of India’s Kotak Mahindra Bank, plans to raise as much as USD 500 million by the second quarter of this year, in a bet on the long term case for property in Asia’s third-largest economy, a top official said.
True Value Homes to invest Rs. 800 crore
Chennai-based real estate developer True Value Homes is planning to invest Rs.800 crore over the next three years to develop around 12 projects, majority of which will be in the residential segment.
Indians to be most active buyers of British real estate
Indians are emerging as among the most active buyers of property in Britain, according to a report in local British media.
Group buying site Groffr acquires Mobstreet.in
Mumbai-based RCSPL, which owns group buying portal for real estate GrOffr.com, has acquired Mobstreet.in, a company which was officially shut down in December 2010 due to lack of funds.