Track2Realty-Agencies: The Competition Commission of India (CCI) has approved a real estate deal between global private equity giant Blackstone Group and Pune-based realty firm Embassy Group. The proposed deal involves Blackstone and Embassy Group having joint control over an entity engaged in the business of development and management of commercial and office space and related activities.
Track2Realty-Agencies: The Centre is ready with an ambitious plan to sell surplus government land to generate cash to ease financial pressures, as suggested by the Vijay Kelkar Committee on fiscal consolidation. A Cabinet note prepared by the Finance Ministry within days of the Kelkar Panel submitting its recommendations says that proceeds from the sale or lease of surplus land, seen as a non-performing asset, would be used only to repay loans or create capital assets that will generate recurring revenue.
Track2Realty-Agencies: The US-based American Real Estate plans to open three multi-specialty hospitals and small clinics in Maharashtra, Gujarat and Madhya Pradesh.
Track2Realty-Agencies: The Finance Ministry is considering a proposal to relax funding norms for the realty sector so that good housing projects are not starved of funds.
Track2Realty-C&W: NCR registered absorption of 1.2 msf in Q3, 2012 and which was 14% lower when compared to the previous quarter due to cautious approach by the companies. IT/ITeS and consulting firms continue to be among the largest occupiers taking up spaces in excess of 200,000 sf each across Gurgaon and Noida, says office market report from real estate consultancy Cushman & Wakefield.
Track2Realty-Agencies: Delhi Government on Wednesday, Sep 26, issued directions to allow sale, purchase and registration of property in 312 unauthorised colonies built on private land. These were among the 895 colonies regularized early this month.
Track2Governance-Agencies: The Enforcement Directorate (ED) has attached properties owned by Emaar MGF, the builder of Commonwealth Games Village in Delhi and several projects in Hyderabad, for alleged violation of Prevention of Money Laundering Act.
Track2Realty-Agencies: Over 20 realtors from India will participate in a property exhibition “India U Realty show: Unlock the potential of India real estate” which will bring together high net worth non-resident Indians (NRI) and persons of Indian Origins (PIO) in London to explore investment opportunities in India.
Track2Realty-Agencies: Gopal L Raheja, the real estate tycoon of Mumbai, has filed a petition in the Bombay High Court, accusing his son of attempting to ‘usurp’ his entire business. This is the second family feud in Indian realty business after ugly public spat in Hiranandani family.
Track2Realty: CBRE Group, Inc. has been awarded the top global real estate advisor and consultancy firm in the 2012 Euromoney Real Estate Awards. This is the fifth time in eight years that CBRE has won the prestigious award.