Hyatt Hotels Corporation, one of the world’s biggest hotel chains, is not worried with the DB Realty’s scam. The Chicago-headquartered group is going ahead with plans of opening five hotels with the Mumbai-based DB Group.
In what could be biggest shake up in India’s retail sector, and cheer up the real estate developers also who are at the receiving end by the retail partners, the global major retail Walmart is in talks with Big Bazaar for stake.
The income tax department has conducted a search operation on Mumbai-based Kanakia Group. The raids were conducted early morning, in Mumbai and Lucknow for alleged tax evasion.
Gaursons Hi-Tech Infrastructure Pvt. Ltd. (a Group Company of Gaursons India Ltd & Saviour Builders Private Limited) has launched Gaur Mulberry Mansions in Noida Extension.
DB Realty, the tainted Mumbai-based real estate developer whose name figured in the 2G spectrum investigations, has lost its fourth director since February.
Atlanta Ltd has announced that it is a company with deep rooted presence in three of the country’s fastest growing segments; infrastructure development, mining and realty.
The Comptroller and Auditor General of India (CAG) has taken a strong objection to the military authorities in Karnataka who have permitted unauthorized use of defence land for constructing shopping malls and halls in gross violation of rules and without sanction from the Defence Ministry.
Australia’s Platinum Investment Management has raised its stake in India’s second largest real estate firm Unitech to 5.16%.
After a one-year period starting 3Q 2009, which saw a strong recovery with a record 40%+ increase in prices, the Mumbai residential real estate market has been seeing a slowdown over the last two quarters across various micro markets.
Indian buyers usually pay for apartments before construction has been completed. Many buyers do not take out mortgage loans (the ratio of housing loans to GDP is less than 5% in India).