Track2Realty-Agencies: Kolkata-based Rose Valley Group on Thursday, July 11, said it would take legal action against the Securities and Exchange Board of India (SEBI) order against the company’s deposit-taking schemes through a holiday membership plan.
Track2Realty: India Ratings & Research (Ind-Ra) has maintained a negative outlook on the Indian construction sector for the second half of 2013 (H213). This is in view of the continued execution and liquidity challenges facing the sector, identified as major constraints in the beginning of the year. The impact of these challenges is likely to intensify in the near term.
Track2Realty Exclusive: The concept has been new in India and in the absence of home buyers understanding, they have often succumbed to misleading advertisements that promise “view of nature” or “open green spaces.”
Track2Realty: Provident Housing Limited, a wholly-owned subsidiary of the Puravankara Projects Limited, is to launch ‘premium affordable’ homes in Coimbatore. The innovative residential project will be located at Selvapuram, Off Perur Main Road, near R S Puram, in the vicinity of the city center.
Track2Realty Exclusive: With realty being a micro market driven business and land a state subject, dealing with the government machinery has a different challenge in many of these cities.
Track2Realty: While the customers lodge complaints against builders, here is a case in which a builder has registered a defamation case against a customer. The Mumbai-based reputed Haware Engineers & Builders have filed a defamation suit amounting to Rs 1,086 crore against one of its former customers in the court.
Track2Realty Exclusive: Social activist Medha Patkar has rather questioned the need of SEZs and acquisition of such huge tracts of land. Referring SEZs as “pervert corporate projects” Patkar points out that the Maharashtra Industrial Development Corporation (MIDC) had about 80,000 acres of unutilised land – information unearthed through the Right to Information Act.
Track2Realty: To strengthen long-term competitiveness and deliver a stronger and more differentiated client servicing experience, DTZ has announced a new company structure for its real estate business operations in India.
Track2Realty Exclusive: The problem remains that many SEZs are seen as real estate scams. Lack of clarity on the country’s land acquisition policy is also a major stumbling block for SEZ projects. EAS Sarma, former Secretary to the Government of India has alleged that most of the SEZs in the country have become real estate ventures lined to money laundering.
Track2Realty-Agencies: Shriram Properties the Bangalore-based realty arm of the Shriram Group, is understood to have up lined up discussions with key global players including Mapletree and Ascendas to sell its Gateway SEZ, a 1.3 million square feet information technology special economic zone in Chennai for $150 million.