It may well go down as one of the biggest real estate scams in the country. The controversial Commonwealth Games village builder, Emaar MGF, has fraudulently sold off over 560 plots it did not own to unsuspecting buyers in Mohali (Punjab).
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.
The global debt funding gap is estimated to total US$142bn over the next three years (2012-2014) according to latest research from DTZ.
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).
Indian commercial property market has lost momentum in Q3 with the capital values turning negative for the first time since 2009.
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.
The impact of slowdown is already being felt on the real estate market with residential segment witnessing sluggish demand across all the major cities.
Housing Development Finance Corp. will invest about Rs.2 billion ($41 million) in one of the projects of New Delhi-based real estate developer ATS Infrastructure Ltd, sources close to the development said.
Union Minister for Rural Development Jairam Ramesh today refuted the charge that National Rural Employment Guarantee Act (NREGA) had caused labour shortage in sectors like agriculture and construction.
Investment Corporation of Dubai (ICD), a financing arm of the government, and Brookfield Asset Management have agreed to jointly sponsor a real estate fund with $100 million in seed money to focus on the domestic market.