Track2Realty-Agencies: Real estate developer Emaar MGF Land Ltd has been directed by the apex consumer forum to refund Rs 2.4 lakh to a man for “deficiency” in service in connection with booking of a residential plot in Mohali.
Track2Realty-Agencies: Competition Commission of India (CCI) is working on a model framework for commercial agreements between real estate developer and the property buyer, which it expects to serve as a benchmark for the industry.
Bangalore-based real estate developer Puravankara Projects net profit rose 173 per cent to Rs 46.05 crore during the fourth quarter of the last fiscal.
Last year, net profit stood at Rs 20.89 crore during the corresponding quarter.
India’s largest real estate developer DLF Ltd rose 3.2 percent to 188.10 rupees after Goldman Sachs upgraded its rating on the stock to “buy” from “neutral” and raised its 12-month target price to 264 rupees from 252 rupees.
In a major reshuffle, Dubai-based real estate developer Emaar Properties on Monday recommended a new board increasing the strength of members to 11 from the present eight.
Crazeal, the India unit of group buying site Groupon has partnered with real estate developer RCL Homes to offer discount on purchase of a property in Karjat in Maharashtra.
Housing Development Finance Corp. will invest about Rs.2 billion ($41 million) in one of the projects of New Delhi-based real estate developer ATS Infrastructure Ltd, sources close to the development said.
Real estate developer Surendra Hiranandani, who owns Hiranandani Upscale, plans to enter the luxury housing space under the Signature brand.
Norwegian telecom giant Telenor has started a process to raise up to Rs.8,000 crore in its Indian joint venture with real estate developer Unitech, said a top company executive.
US-based real estate developer Alexandria’s Indian arm — Alexandria Real Estate Equities Inc is planning to invest around Rs.500 crore to develop a biotechnology park in Bangalore.