Track2Realty-Agencies: Investment bank Goldman Sachs on Thursday downgraded real estate major DLF to ‘neutral’ from ‘buy’, saying slower approvals could result in fewer project launches, even as Swiss financial services company UBS said activist Arvind Kejriwal’s accusations would have limited impact on the company. It has maintained a ‘buy’ rating.
Singapore-listed technology park developer Ascendas is close to acquire an IT Special Economic Zone of Shriram Properties in Chennai for about Rs 500 crore, said banking sources close to the development. Ascendas, which owns a string of business parks in India, is said to have pipped competing offers from other global investors Tishmen Speyer, Xander Group and Mapletree, a real estate arm of Temasek.
Realty major DLF may not extend sponsorship to the Indian Premier League (IPL) after its first five-year deal expires this year. According to DLF sources, they have conveyed this to the Board of Control for Cricket in India (BCCI).
DLF has bought its partner Hilton’s 26% share in joint venture DLF Hotels & Hospitality for Rs.120 crore.
Fire Capital has entered into a 50:50JV with Tamil Nadu based Omshakthy Agencies (Madras) Pvt Ltd to develop residential projects and townships in and around Chennai.
ATS Group, the Noida-based developer has announced its foray to the Gurgaon property market with residential projects.
UK-based hospitality firm Whitbread today said it will invest 75 million pounds (over Rs 535 crore) in India by 2020 to fund its hotels business in the country.
Kingdom of Dreams, India’s first live entertainment complex, is all set to script its success story beyond the national capital region.
DLF Ltd will focus on plotted development in the short term in a bid to weather the blow from rising inflation and input costs.
The question here is why are these builders not executing registries even after obtaining the OC (Occupancy Certificate) & CC (Completion Certificate) from the authorities concerned. The fact is that these smart developers delay & often deny registries to the home buyers to get maintenance of society when it is not registered. They continue to charge hefty amount in the name of society maintenance. Add ot it, revenue that they get from inflated power bills. After the registry of the apartment, majority of apartments buyers are free to form AOA (Apartment Owners’ Association).