Rose Valley Real Estate and Construction Limited has filed a writ petition in the Calcutta high court, challenging the order of Securities and Exchange Board of India (SEBI) for virtually stopping its business. The case will come up for hearing in the court of Justice Jayanta Biswas on Thursday.
In an embarrassment to realty major DLF, GlaxoSmithKline Consumer Healthcare Ltd (GSKCH), the FMCG company that owns leading brands such as Horlicks and Boost, has filed a case against DLF over charges of violations of its agreement in one of the commercial projects in Gurgaon.
Jones Lang LaSalle today announced it has launched a website – Lease Accounting Changes, to deliver leading-edge strategies, tools, and information to help corporations worldwide navigate the upcoming changes in global lease accounting treatment.
There is a school of thought that states that you should buy a home as soon as you can afford it, or as soon as your home loan application is approved. In fact, the only question one tends to ask in context with home buying is whether property prices and interest rates are amenable at that point in time or not. On the surface, this makes sense. However, not all surfaces are reliable mirrors.
With liquidity from traditional channels like banks and equity markets drying up for property developers, non-banking finance companies (NBFCs) have raised rates for loans to real estate companies by two-three percentage points (200-300 basis points). The rates have gone up from 15-19 per cent to 17-22 per cent. The rates vary according to the developer, the project and the requirement of the company, say NBFCs and consultants.
Shares in Indiabulls Real Estate rose as much as 4 per cent on Tuesday morning, while those of group firm Indiabulls Power rose more than 3.5 per cent, after the real estate firm said it received board approval to restructure its businesses.
Gurgaon initially gained prominence as an outsourcing centre for major international companies that found it cheaper to locate their back-end operations in India due to the availability of high-quality but cost-effective employee resources. GE Capital initiated this trend and was the first multinational company to enter Gurgaon in 1997.
U.S. billionaire real-estate developer Donald Trump is entering the Indian realty market with a luxury residential tower in Mumbai, more than two years after announcing plans to expand in the south Asian nation. Trump, who has partnered with Mumbai developer Rohan Lifescapes Pvt. for his first venture in the country, expects to start marketing the project by March, said Donald Trump Jr., Trump’s son and executive vice president at the Trump Organization LLC.
CB Richard Ellis, the US-listed property services firm, has emerged as favourite to acquire the majority of ING’s real estate group in deal worth one billion euro (USD 1.35 billion) to create the world’s largest property funds business, says a media report.
While the real estate sector has always shied with the need to have a regulatory body, Maharashtra CM Prithviraj Chavan talking of constituting a regulatory authority to control high property prices seems to have sent alarm bells ringing among major players. Some of the real estate companies are now talking about the need to check pricing rather than just setting up a body.