Track2Realty-Agencies: Mumbai-based real estate firm Kamla Landmarc Construction is the new owner of the Hyderabad-based IPL team Deccan Chargers. The deal was finalised by Jitendra Jain-promoted Kamla Landmarc and T Venkattram Reddy’s Deccan Chronicle Holdings (DCHL) over the last few days. The size of the deal is yet to be confirmed.
Indian real estate companies, which borrowed heavily during the peak of the economic cycle and rosy business forecast, are now caught in the vortex of piling debt post-slowdown. Most of the realtors who went on a land bank acquisition with borrowed money are struggling to repay even the interest and banks look reluctant to restructure the debt any more.
In 1962, Edward Lorenz, the renowned mathematician from Massachusetts Institute of Technology, published a paper on Deterministic Non-periodic Flow in the Journal of Atmospheric Sciences.