The six-acre land parcel owned by Tulip Star Hotel (formerly Centaur Hotel) at Juhu in Mumbai will continue to be entangled in legal battle for some more time, despite the arbitrator allowing termination of sale agreement entered in 2005.
If we want to see a regulated real estate business in India, we need to first identify the role of the Government in the system.
In yet another jolt to the Uttar Pradesh government’s plan to build a residential hub on 2,000 acres in 11 villages in Noida Extension, the Allahabad high court on Tuesday, July 19, set aside the acquisition of 589 hectares in Patwari village.
The Confederation of Real Estate Developers’ Association of India (CREDAI) has asked builders, whose projects in Patwari have been affected by the high court order, to move the Supreme Court.
Back-to-back quashing of land acquisitions in Noida Extension by court has brought to light the nexus between the authority and builders.
Bihar Chief Minister Nitish Kumar is under fire for allotting prime real estate in Bihar to relatives of Government officials and Ministers.
Several realty firms, including Parsvnath, Juventus Builders and Developers, Alok Infrastructure, Oval Developers, Airmid Developers and NG Realty have sought the Government’s nod to shelve their SEZ projects amid continued tax uncertainties.
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has called for a strong and transparent regulator for the real estate sector for an orderly growth.
Singapore’s Lion Global Investors, which manages about S$29 billion ($24 billion), said on Thursday, July 15, it was turning bullish on Indian stocks and Wednesday’s bomb attacks in the country’s financial capital would not change its view.
Delay in real estate projects is something that invites disapproval and criticism in the collective consciousness.