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.
Track2Realty: Jones Lang LaSalle (JLL) recently got the green signal from SEBI to launch its first residential focused fund in India. It plans to raise $57 Mn.
Track2Realty: The Maharashtra government has revised lease rentals of a total of 1,577 lands situated in Mumbai city and suburbs. The revised lease rentals, which are fixed on ready recknor rates, would be effective from January 1. State cabinet chaired by Prithviraj Chavan gave its approval at its meeting held on Tuesday, Oct 9.
Track2Realty: In terms of planned urban growth, the evidence for real estate development being backed by the creation of associated physical infrastructure is higher in Noida and Greater Noida. Gurgaon and Faridabad are at the opposite spectrum, where infrastructure is developed after the real estate potential of an area has been nearly fully exploited. In other words, infrastructure projects in these areas is largely taken up only after an area is already primed for real estate growth. Even so, Gurgaon has seen the maximum capital appreciation for investors and end users.
Track2Realty: DLF on rejected activist-turned-politician Arvind Kejriwal’s allegations of corruption in the business dealings with Robert Vadra, saying the Sonia Gandhi’s son-in-law bought flats from the company at prevailing market rates. The company also clarified that no unsecured loans were given to Vadra.
Track2Realty: In fresh allegations, activist-turned politician Arvind Kejriwal has termed the deals between DLF and Robert Vadra as ‘illicit’ and says he stands by his accusations against them. Arvind Kejriwal continued his offensive against Robert Vadra, DLF and the Congress Government in Haryana. Alleging that the Haryana Government had given undue benefits to DLF, Kejriwal said that the Punjab and Haryana High Court had pointed at a “malafide nexus” between the two.
Track2Realty: The Confederation of All India Traders (CAIT) has strongly objected to the reported statement of Ashok Chawla, Chairman, Competition Commission of India (CCI) who has openly favored FDI in Retail.
Track2Realty: India Against Corruption (IAC) raised certain allegations, some of which pertained to DLF. In this regard, we would like to state that the business relationship of DLF with Mr Robert Vadra or his companies, has been in his capacity as an individual entrepreneur, on a completely transparent and at an arm’s length basis. Our business relationship has been conducted to the highest standards of ethics and transparency, as has been our business practices, all around.
Track2Realty-Agencies: Two men, one of them a history-sheeter on Pune Rural Police records, sustained bullet injuries after four people opened fire at them in at Avdhut arcade office of Rajhans Real Estate, Patilbaugh in Wadgaon Budruk on Pune-Bangalore highway on Saturday, Oct 6.
Track2Realty: Stung by allegations of corruption from social activist Arvind Kejriwal, real estate major DLF on Saturday, Oct 6, vehemently denied it had advanced any unsecured loan to Congress chief Sonia Gandhi’s son-in-law Robert Vadra.