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The Confederation of Real Estate Developers’ Association of India (CREDAI), Goa, has expressed surprise that NGOs are opposed to the Regional Plan 2021 by arguing that it accommodates the vested interest of builders.
Unitech Ltd reported a 47 per cent fall in its net profit for the second quarter ended September 30 on the back of rising input cost and interest rate hike, among other factors.
The availability of skilled manpower supported by availability of cost effective commercial real estate – especially in terms of Grade A projects – continues to drive demand for office properties in Pune.
Textiles’ major Alok Industries is looking for a Rs.900-1,000 crore deal; discussions with global realty funds, however, is stuck as slowdown upsets valuation matching.
For buyers as industry stakeholders, the biggest advantage that the Model Real Estate Regulation Act offers is that there will be an arbitratory body available to attend to grievances and redressals.
Targeting the growing corporate sector in India, global serviced-residence owner-operator The Ascott International aims to double its presence by 2015 at an investment of about USD 250 million.
While 560-odd investors were duped by Emaar MGF, banks too were defrauded.
It may well go down as one of the biggest real estate scams in the country. The controversial Commonwealth Games village builder, Emaar MGF, has fraudulently sold off over 560 plots it did not own to unsuspecting buyers in Mohali (Punjab).
The long-pending legislation – Real Estate (Regulation and Development) Bill – that aims to infuse “accountability and transparency” in the realty sector, backed by stringent norms, is out in the public domain.
DLF has said its net debt increased by nearly Rs.1,000 crore in the July-September quarter to Rs.22,519 crore, mainly due to delayed receipt of payments related to non-core asset sales.