The Supreme Court of India categorically said on Tuesday, July 23, that serious fraud has been played by real estate firm Amrapali Group in connivance with Noida and Greater Noida authorities by failing to give possession of flats to over 42,000 home buyers.
With spacious homes in a gated community, the project will have more than three acres of central greens, outdoor air pollution controllers, floral courts, parks, air purifying tree species, pocket amenity spaces under each tower, contemporary club house (around 24,000 sq. ft), swimming pool, gym, sports-facilities, recreation areas, cafeteria and shopping plaza to just name a few.
The company plans to increase its team strength in the Gulf to 500 and is targeting a Gross Transaction Value of $600 mn. from its international business in 2019. It also plans to set up operations in Saudi Arabia in this calendar year.
FastFox was valued at just under INR 100 crores at the time of this transaction. With this acquisition, Elara has entered the online-to-offline home rentals space, which has a market opportunity of over INR 20,000 crores. The addition of FastFox.com to its portfolio allows Elara to offer a comprehensive end-to-end service to landlords and tenants, thereby ensuring a significant improvement in consumer experience.
DLF has signed its second joint venture with HINES. DLF Home Developers Limited (“DHDL”), a wholly owned subsidiary of DLF Limited (“DLF”), and Green Horizon Trustee (an affiliate of “HINES”) have entered into a Joint Venture for developing a high-end commercial project in Gurugram.
Backward integration definitely helps and my reason for backward integration is that I have total control over quality. I come from that industry where I had been into contracting for the last 40 years. Real estate for me is only for the last 20 years. I have since beginning worked on very high-end contracts, including design. So, I have the knowledge coming from the grassroot level of contracts. Eventually I thought I should do real estate also while doing contracts outside.
I am also conscious of the fact that no one would dare to file a case. It will only make them a laughing stock and force me to further expose their fault lines and consumer grievances/backlash in the public domain. This is one business where there is always more to conceal than reveal.
Construction consultancy firm, Linesight has opened offices in Mumbai. Linesight intends to focus on Mumbai, Pune, Bangalore and the Hyderabad metro cities of India as part of its expansion plans in the region.
In a sales driven and measurable ROI dictated environment of the Indian real estate, the ad campaign comes as a market disruption. It is a result of great thought, deeper understanding of the urban housing realities and a bold statement that the company has not only been witness to a turnaround (after controversies of the past) but also confident enough to gamble now to stay ahead of the competition curve.
The survey clearly suggests marriage is as much a choice for women as mortgage, and marriage is definitely not predestination of home ownership. Even among the married couples the role of the women is changing and they are increasingly getting on the driver’s seat when buying a house.