A division bench of the Supreme Court today stayed the Bombay High Court judgment in VAT case and passed an interim order extending the deadline for developers in Maharashtra for paying VAT by two months.
CHD Developers has acquired Empire Realtech, a company holding about 12.34 acres of land at Sector 106 in Dwarka Expressway, Gurgaon. This land is licensed and has all approvals in place. CHD Developer acquired entire shareholding of Empire Realtech, pursuant to which it has become a wholly owned subsidiary of CHD Developers Ltd.
The Bangalore-based publicly-held Sobha Developers has said its sales realisation has gone up 26 per cent on a year-on-year basis while the sales volumes have gone up 25 per cent. On a sequential basis, the realisation is up 7 per cent while the sales being marginally down.
Terming the current building rules as cumbersome, realty developers of Assam have called for simplification and rationalisation of norms and reduction in duties. “The real estate players are in a bind over high spiralling taxes and registration duties which are the highest in Guwahati,” Assam Real Estate and Infrastructure Developers Association President P K Sharma told reporters in Guwahati.
Parsvnath Developers has reported a net loss of Rs 23…
Despite the market slowdown and high competitiveness among the ‘Big Boys’ in the Indian residential real estate business, smaller builders of residential projects can still corner a healthy market share. It is all a matter of knowing which league to play in, and how to play.
Acknowledging the developer community’s role in the economic growth of MMR in particular and Maharashtra in general, Chief Minister Prithviraj Chavan stressed that his government accords top priority to affordable housing.
Ravi Sinha: To sum up the discussion, what kind of funding do you see emerging in the coming year?
ICS Realty India, the Mumbai-based retail asset management firm has announced to develop projects on its own. The company has hitherto raised and managed funds for other developers. It is also floating a joint venture firm for its hospitality foray in two week’s time.
While the government is trying to regulate the developers with provisions of penalty and up to imprisonment, the developers in Maharashtra have decided expose the policy paralysis through RTI route.