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.
The Confederation of Real Estate Developers’ Association of India (CREDAI) demands the proposed law to regulate the development of India’s real estate sector must be comprehensive to address the interests and responsibilities of all stakeholders.
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.
Union minister for urban development Kamal Nath on Thursday said the number of approvals a developer has to get will have to be cut down for faster and more efficient property development in the country.
Urban Development Minister Kamal Nath admitted today that “the government has not responded to the tremendous growth in the real estate sector in the last one decade appropriately”.
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.
Vision India Real Estate, has announced a cultural association with the dance school of the well acclaimed actress and danseuse, Shobana, in its upcoming premium housing project, The Gem Grove.
The period ending 1Q11 witnessed moderate activity in the office market in the city. With CBD vacancy rates continuing to hover at around 1%, office transactions were limited to either small office queries or larger office spaces that were inevitably a churn in the existing stock.
Real estate developers in Chhattisgarh are among the first to have agreed to follow code of conduct to ensure transparency in the dealings of the sector.
Nearly four years back when the real estate market was at its peak all the developers tried to diversify into other greener pastures.