Indian firm bags township project in Rwanda
Indian realty firm Synergy Property Development Services Ltd bagged, through international bidding, a $153-million township development project in the central African country of Rwanda.
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Realtor ordered to pay for missing deeds
The Nashik consumer court has ordered Dattatraya Kokate, Kishor Chopde and Arun Kapde of Bhagwati Constructions to prepare deeds of apartments in favour of five customers who had filed independent complaints in the court against the developer. Every customer also has to be given Rs 15,000 as compensation for mental harassment and Rs 1,000 to compensate for the court procedures.
Theme Ventures signs Mumbai realty cos to sell residential properties to corporates
Below the line marketing company Theme Ventures has signed a group of well-known real estate companies in Mumbai to sell the residential properties directly to the corporate employees by setting up shops inside the large work premises, the news reports said.
PEs lapping up IT parks, SEZs for assured returns
Real estate-focused Private Equity Funds are looking at investing in pre-leased commercial projects, including IT Parks and Special Economic Zones (SEZs), as they look for assured returns from their investments.
CCI analysis of relevant market in real estate sector raises many questions
In the wake of the Competition Commission of India (CCI) imposing a hefty penalty of Rs. 630 crore on DLF, the anti-monopoly regulator has been flooded with a host of real estate related consumer complaints which may not be in the ambit of CCI. CCI should draw a line that bifurcates between what falls in its domain and what is in the consumer protection ambit. However, in the absence of scientific economic analysis of the relevant market, both in product category and geographic category, the two legs of the relevant market, the sector is keeping its fingers crossed as there has been a clear anomaly in defining the relevant market by the CCI.
Eldeco Chairman S K Garg arrested in graft case
The CBI has arrested the CMD of realty firm Eldeco in connection with its probe in an alleged graft case in which some senior Income Tax officials have been nabbed by the agency.
Indian cities to house 85 crore by 2050: Study
With growing urbanisation in India, nearly 85 crore people are estimated to live in cities across the country by 2050, a latest report by industry chamber CII and realty consultant Jones Lang LaSalle said.
Disney in deal with Sunteck Realty to launch co-branded apartments
Disney Consumer Products India, the licensing & merchandising arm of The Walt Disney Company India, has done its first licensing deal in the real estate sector with Mumbai-based real estate company Sunteck Realty to launch Disney Inspired Homes in Goregaon, the Northern suburb of Mumbai.
CCI issues order against cement manufacturers, imposes penalty of more than six thousand crores on 11 cement companies
The Competition Commission of India has found cement manufacturers in violation of the provisions of the Competition Act, 2002 which deals with anticompetitive agreements including Cartels. The order was passed pursuant to investigation carried out by the Director General upon information filed by Builders Association of India.
Rental in key commercial hubs across India witnessed mix fortunes in Q1-12
The commercial rentals in the country have not seen vibrancy this quarter as some localities have witnessed rental price correction in Q1-12 when compared to Q1-11. However, the southern part of the country, and some localities in Delhi and Mumbai did see per square feet growth figures over a period of one year. Overall commercial rentals in Mumbai saw 2% increase in commercial rentals, Bangalore saw 3% growth and Delhi de-grew by 7% over the last one year. These are the findings of a study by property portal 99acres.com.