Track2Realty-Agencies: Reliance Communications will spin off its real estate business into a separately listed unit, a move the country’s third largest mobile phone carrier by customers said was to focus on its core business.
Track2Realty: Everstone Capital has appointed Rajesh Jaggi as the Managing Partner for its real estate business.
Lanco Infratech Ltd, the power producer, is reportedly seeking buyers for a real estate business it values at 27 billion rupees ($483 million). According to the sources close to the development the company has asked investment banks to submit proposals to manage the sale.
Immediately after Ahmedabad-based power, port and mining company Adani Enterprises Ltd (AEL) decided to part with its real estate business a day ago, the Adani family clarified that they are keen on retaining Adani Infrastructure Development Pvt Ltd (AIDPL).
Apparel firm Provogue India Ltd said on Thursday, August 11, it will demerge its real estate business into a newly incorporated entity.
The bullion company, Goldsukh Trade India Limited has now entered into real-estate estate.
The ‘ease of doing business’ is even more challenging when it comes to the business of real estate and construction where there is over regulation beyond RERA in terms of the developers running from one department to the other for mandatory NOCs, clearances & approvals.
Track2Realty Exclusive: It has indeed been a busy year and 2014 can well be described as the year of roller coaster emotions where the business confidence index was exposed to two extreme ends of swing. In an otherwise flat year, the real estate sector may not have been witness to transactions on ground but the poetic engagement has definitely been at the emotional level.
Ekta Kapoor’s Balaji Group has now entered Mumbai’s real estate market with two projects- a commercial complex in Chandivli, Andheri East, and a residential one in Mira Road – both being handled by her father and yesteryear star Jeetendra through group firms Balaji Developers and JK Developers.
The question is what needs to be done. Or in other words, how could real estate consume more out of ‘Make in India’ manufacturing? The question in itself is flawed, if not in sync with the larger eco system issues. Setting up and making a manufacturing unit in India comes with its own challenges. Cheap labour alone would not give India any edge or cost arbitrage over the export items. ‘Make in India’ has to move beyond the rhetoric of nationalism and reforms have to be introduced at each and every level, ranging from lower corporate tax to labour laws and making the country a happy hunting ground for the manufacturers of the world.