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.
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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.
CII to hold real estate conclave in Mumbai on Friday
Various issues plaguing the real estate sector will be discussed at a conclave to be organised here on Friday by Confederation of Indian Industries (CII). The Real Estate Conclave 2012 will be inaugurated by Maharashtra Minister for Housing Sachin Ahir, CII said in a statement.
Mumbai estate agent blinded after acid attack
In a gruesome incident, real estate agent Dudhnath Verma has been blinded after an acid attack in suburban Mumbai. The incident happened on Monday, June 18.
Former Cushman & Wakefield India chief Anurag Mathur joins Jones Lang LaSalle India
Jones Lang LaSalle India has appointed Anurag Mathur as CEO – Project & Development Services and Head – Emerging Businesses. He was formerly Managing Director at Cushman & Wakefield, where he led pan-India operations. Anurag Mathur brings with him eighteen years of hands-on experience in diverse real estate services.
Realtors ring alarm bells post RBI status quo on rates
Anticipating a significant rate cut by the RBI, disappointed real estate community has ring alarm bells and forecast more slump due to the high interest rate regime. Pointing out that the capital and labour intensive sector plays a key role in employment generation and accelerating growth, industry body CREDAI says the government has also been losers of revenue due to neglect of the sector and risks attributed to real estate and the RBI advisories against lending to real estate have only harmed the sector and made housing costlier for consumers, apart from affecting the economy.
Assam developers call for rationalisation of rules
Terming the current building rules as cumbersome, realty developers of Assam have called for simplification and rationalisation of norms and reduction in duties. “The real estate players are in a bind over high spiralling taxes and registration duties which are the highest in Guwahati,” Assam Real Estate and Infrastructure Developers Association President P K Sharma told reporters in Guwahati.