Valuation of immovable properties owned under general power of attorney (GPA) might fall by about 20 percent as the Supreme Court has declared the sale of properties through this deed illegal, industry experts said Friday.
Bangalore-based Sobha Developers has bought entire equity of its joint-venture partner, Pan Atlantic Investments Limited, a Dubai-based PE investment company for Rs.98.5 crore.
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The real estate sector has expressed guarded optimism on Supreme Court ruling that terms as “illegal” any sale of immoveable property through power of attorney (POA) unless the case is “genuine”.
Bennett, Coleman & Co. Ltd has acquired an undisclosed stake in an ad-for-equity deal with Noida-based Investors Clinic Infratech Pvt Ltd.
The festive season looks a bit subdued for property buyers this year. The price corrections that were anticipated in the primary cities have not materialized, at least not in the hoped-for magnitude.
The Securities and Exchange Board of India (SEBI) has questioned the Bombay Stock Exchange (BSE) the basis on which it gave a certificate to the Sahara group on the ‘listability’ of optionally fully-convertible debentures (OFCDs).
An oversupply of commercial office space in Mumbai and other metros could lead to a huge price correction in the country’s realty market.
Patel Realty expects profit to double this year on rising demand for homes in the world’s second-fastest growing major economy.
Private equity fund Fire Capital’s promoter has tied up with a clutch of US-based realty firms to form a new company that plans to invest Rs.6,000 crore in the next four years on developing 32,000 homes across the country.