Track2Realty-Agencies: Market regulator Securities and Exchange Board of India (SEBI) has ordered immediate closure of unauthorised investment schemes run by Ecogreen Realestate India and directed the firm to refund investors’ money along with returns within 3 months.
Track2Realty: After a better than expected growth of 5.7% during the April–June quarter, India’s GDP growth slowed down to 5.3% during July–September, mainly due to sluggishness in manufacturing growth and a slowdown in agricultural output.
Track2Realty: International property consultancy JLL India has structured an agreement for the development of a Senior Living project in Chennai between Ashiana Housing Limited and Escapade Real Estate. These two firms will enter in Joint Venture development for this project.
Track2Realty-Agencies: In a blow to real estate major DLF, the Kerala High Court on Monday, Dec 8, directed it to demolish certain portions of its apartment complex, constructed on the banks of the Chilavanoor backwaters here in violation of Coastal Regulation Zone norms.
Track2Realty Exclusive: Affordable housing has always been a wishful thought in Mumbai real estate and the call for the same has been reignited post the Government of India calling for a vision document to ensure houses for all by 2022. However, Mumbai is not like the rest of the country and the sky high land prices due to unavailability of developable and licensable land calls for a rethink over what precisely is feasible to create affordable housing stock in the city.
Track2Realty Exclusive: Property analysts across the country refer Coimbatore as a market where the effects of slowdown is least visible. At a time when the other property markets across the country are reeling under slackening demand among other major worries, Coimbatore is proving to be a market where the property transactions are happening at a decent pace.
Track2Realty Exclusive: Prayag Damodar returned to the home town Ahmedabad after having spent 14 long years in the Gulf region where the only option of living has been high rises and skyscrapers. He had developed the liking for such vertical living so much that he had a feeling of missing that sky high living back home as the prevailing housing culture has been standalone residential units when he left the city.
Track2Realty-Agencies: The Central Board of Direct Taxes (CBDT) has ordered an Income Tax department investigation against a number of real estate developers who were recently shown by an investigative portal to be willing to accept alleged black money in property transactions.
Track2Realty: India’s economic growth accelerated to 5.7 per cent in the April–June quarter, a figure that is much better than the 4.7 per cent in the same quarter of the previous fiscal year. According to various international agencies like International Monetary Fund (IMF), Asian Development Bank and Moody, 2014 is expected to record an economic growth of 5.2% to 5.6% in 2014.
Track2Realty: Net office uptake in the first three quarters (Jan – Sept) of 2014 has seen a significant rise of 36% as compared to same time last year. Total net absorption of office space has been recorded at approximately 24 million square feet (msf) between January – September in 2014 as against the 17.7 msf in same time in 2013, says Cushman & Wakefield in a report.