Cabinet to discuss bill to regulate realty today
Track2Realty-Agencies: The Union Cabinet on today, Oct 25, is likely to discuss the bill to regulate the real estate sector and also protect the interests of home buyers.
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Realty regulator goes NCTC way, Centre allows states to set up own regulatory body
Track2Realty: In wake of stiff resistance from the states over the proposed regulator to safeguards the consumer interest against shady realty deals & delays, the Centre has reportedly decided to allow the states to set up their own grievance redressal mechanism.
Azure launches Rs 250 cr realty fund for 7 cities
Track2Realty-Agencies: Azure Capital, the promoters of India Realty Fund I, launched its India Realty Fund-II (IRF2), a rental yield fund that focuses on commercial properties across the top seven cities of India. The size of the fund is Rs 250 crores with an additional Green shoe option of Rs 250 crores aggregating to Rs 500 crores.
Jones Lang LaSalle to raise first realty fund in India
Track2Realty: Jones Lang LaSalle (JLL) recently got the green signal from SEBI to launch its first residential focused fund in India. It plans to raise $57 Mn.
VUDA issues notices to realty firms
Track2Realty-Agencies: The Vishakhapatnam Urban Development Authority (VUDA) has issued notices to four firms here on Friday, Oct 5, for violating the rules. VUDA issued notices to Bommarillu Farms & Villas India Limited for development and marketing a layout of 15 acres without necessary permission in the name of Kotha Bangaru Lokam in Kumarm village in S Kota mandal of Vizianagaram and imposed a penalty of Rs 6.21 lakh.
Blackstone gets CCI approval for Embassy realty deal
Track2Realty-Agencies: The Competition Commission of India (CCI) has approved a real estate deal between global private equity giant Blackstone Group and Pune-based realty firm Embassy Group. The proposed deal involves Blackstone and Embassy Group having joint control over an entity engaged in the business of development and management of commercial and office space and related activities.
CREDAI’s Nashik realty expo to be held in December
Track2Realty-Agencies: With an aim to showcase properties across Nashik under one umbrella and provide buyers the opportunity to purchase real estate in Nashik the Confederation of Real Estate Developers’ Association of India (CREDAI) has organised a mega realty expo called ‘Shelter’ in the city from December 20-23.
Reliance Capital plans Rs 1k crore realty focused fund
Track2Realty-Agencies: Reliance Portfolio Management Services, a part of the Anil Dhirubhai Ambani Group-owned Reliance Capital, plans to launch its maiden realty-focused fund by end-2012, with commitments of Rs 1,000 crore.
Government may relax lending norms for cash-strapped realty sector
Track2Realty-Agencies: The Finance Ministry is considering a proposal to relax funding norms for the realty sector so that good housing projects are not starved of funds.
70 Indian realtors to participate in Times Realty India 2012
Track2Realty-Agencies: More than 70 builders across India will showcase their properties at Times Realty India-2012 event to be held on Septmber 28-29 at J W Marriott Hotel, Deira.