Sunil Dahiya: When the meltdown of 2008 and the aftereffects of 2009 rolled in, see the amount of letters sent by developers to the customers and the customer calling back and telling that ‘sorry boss, I am on the verge of losing my job, I don’t have the money’. Not a single developer went to any court or had any power in this judicial system to recover any payment from the consumer, there is no law.
Babulal Varma, Managing Director, Omkar Realtors & Developers There are…
Economic intelligence agencies have informed the Finance Ministry that a major chunk of illegal funds and black money is being generated and routed in the real estate sector of the country.
Bhasin Group has tied up with Singapore-based Andover Leisure Pte to build a 100,000 sq ft aquarium – which would be bigger than Singapore’s Sentosa and Atlanta’s Georgia Aquariums. It will come up in a mall run by the company in Greater Noida. The aquarium, to be titled Blue Planet, is expected to cost $9 million (Rs 45 crore).
Within hours of Track2Realty reporting that the much awaited Real Estate Regulatory Bill will not be tabled in the current session of parliament, the government has confirmed it by announcing that the Bill is likely to be presented in the next session of Parliament. The Bill is expected to be tabled before the Union Cabinet shortly, said Aruna Sundararajan, Joint Secretary, Union Ministry of Housing and Urban Poverty Alleviation.
Omaxe Infrastructure and Construction Limited (OICL), a subsidiary of Omaxe Ltd. received the “International Arch of Europe Award for Quality and Excellence” in Gold category for the year 2012 for showing commitment to quality, exemplary leadership and technology and innovation.
The much-awaited regulatory Bill for the real estate sector will not be tabled during the current session of Parliament, a senior official in the Ministry of Housing and Urban Poverty Alleviation has confirmed to Track2Realty. The draft Real Estate Regulation Bill is still in the consultative process and the government is apprehensive that the states may block it the NCTC way.
Ravi Sinha: Sachin, if I come back to the topic of consumer redressal, isn’t it true that lack of clarity in policy leads to consumer blackmailing also in cases like CCI against DLF. How do you see that?
A 16-lane dedicated corridor in Gurgaon will link DLF’s Gateway Tower in Cyber City to the Golf Course Road, offering some relief from crumbling infrastructure in Delhi’s suburb.
Acknowledging the developer community’s role in the economic growth of MMR in particular and Maharashtra in general, Chief Minister Prithviraj Chavan stressed that his government accords top priority to affordable housing.