IT raids Kanakia Group
The income tax department has conducted a search operation on Mumbai-based Kanakia Group. The raids were conducted early morning, in Mumbai and Lucknow for alleged tax evasion.
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Gaursons & Saviour launches Gaur Mulberry Mansions
Gaursons Hi-Tech Infrastructure Pvt. Ltd. (a Group Company of Gaursons India Ltd & Saviour Builders Private Limited) has launched Gaur Mulberry Mansions in Noida Extension.
Tainted DB Realty restructuring board
DB Realty, the tainted Mumbai-based real estate developer whose name figured in the 2G spectrum investigations, has lost its fourth director since February.
Atlanta plans to build residential complex at Kandivali
Atlanta Ltd has announced that it is a company with deep rooted presence in three of the country’s fastest growing segments; infrastructure development, mining and realty.
Malls, halls on defence land draw CAG flak
The Comptroller and Auditor General of India (CAG) has taken a strong objection to the military authorities in Karnataka who have permitted unauthorized use of defence land for constructing shopping malls and halls in gross violation of rules and without sanction from the Defence Ministry.
Oz company’s stake in Unitech crosses 5%
Australia’s Platinum Investment Management has raised its stake in India’s second largest real estate firm Unitech to 5.16%.
Mortgage market handicapped by bad laws in India, says Global Property Guru
Indian buyers usually pay for apartments before construction has been completed. Many buyers do not take out mortgage loans (the ratio of housing loans to GDP is less than 5% in India).
Hot spots emerging in world office markets
Corporate confidence is boosting activity in top tier office markets around the world, leading to accelerating early cycle rental growth and robust capital value growth in prime assets, especially where new quality supply is limited, according to Jones Lang LaSalle’s inaugural, quarterly Global Office Outlook report.
Housing bubble trouble in India, says Global Property Guide
Indian house prices rose rapidly from 2002 to 2007. Strong economic growth and urbanization supported house prices, while in city centres a housing bubble was encouraged by inadequate infrastructure, lack of planning and antiquated land use laws.
Global financial meltdown leading to realty boom in Punjab
Global financial meltdown and the NRIs fear psychosis with the collapse of financial institutions seems to have by default been the catalyst to the realty boom in Punjab.