The Competition Commission of India (CCI) is reported to have zeroed in around 70 real estate developers around the country, including Unitech, Parsvnath Developers, and Omaxe for investigation against entering into one-sided agreements with buyers and for allegedly colluding with each other to arm-twist them.
Banking institutions have cut down on their lending to the real estate sector, according to a report put out on Wednesday by real estate consulting firm Knight Frank India.
The government plans to bring unorganised property agents and brokers under the ambit of the proposed real estate regulator, imposing stringent penalties including imprisonment on those who dupe buyers or operate without a valid registration.
Sahara India has accused market regulator SEBI of not accepting data, since Monday, of the three crore investors of the company who had invested in its optionally fully convertible debentures (OFCDs). Sahara sent the data to SEBI following a Supreme Court order to furnish documents relating to investors, supporting redemption documents, application forms, approval and allotment of bonds to the market regulator.
Century Real Estate has reportedly raised Rs 40 crore from Reliance Capital and will raise another Rs 160 crore from the Anil Ambani promoted firm for its upcoming residential projects. According to reports the deal was closed last week and will be a structured transaction, which includes private placement of non-convertible debentures (NCD) and equity component.
Godrej Properties has claimed that it has sold the entire 1st phase of its residential project, Godrej Summit, in Sector 104, Gurgaon. The first phase of this project had 695 apartments across 1 million sq. ft. of space.
Jones Lang LaSalle has a new report, Redefining Retail Investment, to coincide with the International Council of Shopping Centers (ICSC) 2012 Retail Real Estate World Summit, taking place in Shanghai this week.
Hindustan Construction Company (HCC) today said it has bagged two major contracts worth Rs 1,534 crore in various business segments including one in Jammu & Kashmir for construction of a tunnel.
Godrej Properties has launched its residential project, Godrej Summit, in Sector 104, Gurgaon. Spread over 21 acres, this project will consist of 11 high rise towers and offer about 1,200 homes across 2 mn sq. ft of space. Customers can choose from 2, 3 4 BHK, and penthouse apartments ranging in size from 1,250 sq. ft. to 4,500 sq. ft.
Sodexo establishes its technical expertise and footprint in the Indian facilities management market with operating projects that total a 90 million square feet of property space across the country. Sodexo teams help businesses maintain every aspect of their facility, with services spanning housekeeping, project management, waste management and preventative/corrective maintenance.