As part of its social obligations, CREDAI (Confederation of Real Estate Developers’ Association of India) is planning to train unskilled labourers from 10 select cities in the country, with the assistance of National Skilled Development Corporation (NSDC).
Real estate developers across Gujarat have withdrawn stir as the government decided to give a 50% relief on increased jantri rates.
The rollback on jantri rates has been welcomed by land developers and builders as well as the Opposition Congress, which claimed the government had given in to public sentiment.
After making a mark in almost all areas it has touched so far, diversified conglomerate Jaypee Group has now set its eyes on the dairy sector, where the growing demand-supply gap is only set to widen further.
Sahara Housing Investment Corp. Ltd and Sahara India Real Estate Corp. Ltd, two firms that are part of the diversified Sahara India Pariwar group, continue to raise money from the public, defying a ban on such activity by capital market regulator Securities and Exchange Board of India (SEBI).
Siemens is now in talks with developers Hiranandani Upscale and Nitesh Estates after its proposed sale of an eight-acre factory land in Bangalore to RMZ Corp missed deadline, said sources close to the development.
Confederation of Real Estate Developers’ Association of India (CREDAI) on Wednesday said it has made mandatory for all members of the association to mention carpet area in their brochures and sale agreement, aiming to bring in transparency in the sector.
Real Estate developers in Gujarat are unanimous to protest against the revised jantri rates. Even after their talks with the Government on Monday they have announced that they will continue their protest by not executing any sale deeds till May 5.
Income-Tax officials raided the offices and residences of real estate czar, Century Group owned by P Dayanand Pai and Satish Pai, and Manipal University managed by the Pais.
Demand for residential development will continue to remain unabated, but the requirement of real estate by retail industry over the next five years and even thereafter will provide a major thrust to the property market in India, said CB Richard Ellis’ global president Robert E Sulentic.