At a time when investigations into the “mother of all scams” the 2G spectrum allocation scam allegedly by former telecom minister A Raja and owners of some telecom firms are in full swing and the Apex Court is monitoring the investigations, it has come to light that the Rural Development Ministry has been awarding projects to a major infrastructure and finance company, IL&FS which had invested in the scam tainted DB Realty.
Adani Realty Business, the real estate arm of the Adani Group, plans to invest Rs.5,000 crore in the group’s upcoming township in Ahmedabad.
Indian arm of a leading Bangkok based developer is looking to invest some $300 million in the country’s real estate market, particularly in the major cities of Delhi, Mumbai and Bangalore.
The bullion company, Goldsukh Trade India Limited has now entered into real-estate estate.
A day after its Managing Director Vinod Goenka was arrested in the 2G spectrum scam case on Wednesday, the controversial Mumbai-based real estate company DB Realty inducted his father, K M Goenka, as a Non-Executive Director.
Nearly four years back when the real estate market was at its peak all the developers tried to diversify into other greener pastures.
Indian real estate is expected to face “large-scale distress” amid rising borrowing costs and shrinking access to credit that may force developers into fire sales for assets, according to Knight Frank.
Faced with the non-compliance by the real estate companies, Brand Capital, earlier known as Times Private Treaties, the ad-for-equity business of publishing group Bennett, Coleman and Co. Ltd (BCCL), has hired real estate consultant Knight Frank India Pvt. Ltd to manage its real estate portfolio.
The Bombay Stock Exchange on Monday said that it has excluded Indiabulls Real Estate Ltd from both the BSE 100 and BSE 200 indices and replaced it with Coal India.
The Sensex has always been a barometer of the country’s general economic ‘mood’. The real estate index, on the other hand, is an indicator of the sentiments towards real estate developers.