Legal
According to sources, AIG Global Real Estate, a New York-based private equity fund has bought Bangalore-based developer RMZ Corp’s 50% stake in their stalled joint venture mall project in Hyderabad. RMZ has exited its Rs 53-crore investment in the mall-cum-office project, according to sources. AIG is planning to construct a residential property on the 11 [...] Continue Reading »
A disputed property has recently got investment by Kotak Realty Fund (KRF), a division of Kotak Investment Advisors Ltd. The realty fund has made an investment of around Rs 125 crore on a 36 acres of residential development near Yeor Hills in Thane. The Ravechi property developer, Tulsidas Bhimjyani, got the investment after he paid [...] Continue Reading »
With the new industrial policy in place, there is no much hope for increasing housing stocks in Pune. Even officials of Maharshtra Industrial Development Corporation (MIDC) have admitted that majority of the SEZs will not have enough land left with to implement the schemes. Even, the realtors have pointed out lack of basic civic infrastructure [...] Continue Reading »
Guwahati- CBI will be looking into the case of recent land grabbing in Assam in which cabinet minister Khor Sing Engti, who holds the portfolios of Animal Husbandry and Veterinary, Hill Areas, Mines and Minerals, was allegedly involved. The Gauhati High Court has asked the Central Bureau of Investigation (CBI) to investigate the case of [...] Continue Reading »
A state government resolution which was issued five years back in Mumbai has come into limelight again. The same resolution now is going to affect over 3,000 housing societies in the city which stand on the land of the collector’s office allotted decades ago. Most of these societies were built in the 1960s and the [...] Continue Reading »
Noida- The Greater Noida West (Noida Extension) home buyers are demanding the Greater Noida Authority and developers for the instant implementation of the UP Apartments Act. A homebuyer’s group called Noida Extension Flat Owners and Members Association (NEFOMA) made this demand due to the repeated cancellation of bookings and complaints about the arbitrary changes in projects by developers. In a meeting and a [...] Continue Reading »
To bring in a relief to a buyer in Mumbai, after a span of 7 years, he might finally get the possession of his flat booked in Sion in 2005. The Maharashtra State Consumer Disputes Redressal Commission has directed the builder of the flat in Sion to either give possession of the 712 sq ft [...] Continue Reading »
Jaipur- The Rajasthan high court has directed the Jaipur Development Authority (JDA) to procure all the details of the government officials and their relatives who own plots in Gokul Vatika, the controversial residential development. Gokul Vatika, launched in 2005, is a residential scheme located in JLN Road, Jaipur. It was alleged that instead of allotting plots [...] Continue Reading »
New Delhi- With the GMR group walking out of the Kishangarh- Udaipur-Ahmedabad project slated for 16 months after securing the order has invited trouble as the National Highways Authority of India (NHAI) may take legal action against GMR Group. An estimated investment of about Rs 5,387 crore was expected for the project.This project with an annual premium of 26 years and [...] Continue Reading »
New Delhi- The two Sahara group firms who are subjected to refund a sum of Rs. 24,000 crore to their investors will have their plea heard by the same bench which had refunded on August 31 2012. The Sahara firms are subjected to pay 15 percent interest to their investors. The bench which had refunded will be [...] Continue Reading »
