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2G scam accused Shahid Balwa of DB Realty, whose dubious Pakistani and underworld connections are being probed, also allegedly had some Chinese links that raised security concerns within Indian agencies.
Simplex Infrastructure has denied to the news reports regarding CBI raid at Simplex Infrastructures Ltd offices in Kolkata. A statement issued on behalf of the company says that this news is incorrect and baseless as there is no such occurrence at Simplex Infrastructures office and we have no association with CWG projects.
Ahmedabad Municipal Corporation has added another feather to its realty cap, with the 47-metre tall Maninagar Medical College, adjacent to LG hospital, the second tallest building of the city coming up at the cost of Rs.45 crore.
Thane Municipal Corporation has issued a stop-work order against Casa Univis, a luxury township project by Lodha Developers. The project involves development of 26 towers over 55 acres in Ghodbunder Road in Thane.
Finally, India’s biggest commercial land deal was done in Noida on Friday. So far Noida has not declared officially the name of the bid winner but sources said that the bid for commercial plot worth Rs 6,500 crore has been made.
Times Realty India 2011, a two-day exhibition being held in Dubai on the realty sector of India opens today in Dubai. The exhibition will see participation from some of the biggest organizations in the property industry from India.
Surging growth in emerging markets such as China and India will boost demand for real estate, although uncertainties such as an oil shock could pose major risks, economist Nouriel Roubini said on Thursday.
BNP Paribas has raised its ratings on Indian real estate developers, citing a discounted value and improving outlook.
Minister of Housing and Urban Poverty Alleviation Kumari Selja said in the Rajya Sabha the Real Estate (Regulation of Development) Bill is still being deliberated.
Real estate developers are trying to change perceptions. A new team of office bearers which took charge at the Confederation of Real Estate Developers’ Associations of India (CREDAI) has announced to work on a set of measures that will help builders deliver projects on time, redress customer grievances and improve governance to change image and perception of the sector.