Realty News
The real estate arm of the Rs 60,000 crore Shriram Group, Shriram Properties, is planning to raise around Rs 1,000-1,500 crore equity. The company is in discussions with four PE funds, and the money is likely to be raised by end of next month. M Murali, managing director, Shriram Properties informs that the land bank [...] Continue Reading »
In the year ago period, a 63 per cent fall in consolidated net profit is witnessed for the fourth quarter ended March 31 at Rs 30.3 crore against Rs 81.74 crore, as reported by Mumbai-based Mahindra Life spaces. In the previous fiscal, during 2013-14 fiscal, the company’s consolidated net profit slid by 29 per cent [...] Continue Reading »
The Jammu Development Authority (JDA) has begun the process for eviction of land grabbers by issuing final notices to encroachers, under pressure from the Jammu and Kashmir High Court to eliminate massive encroachments from prime Gole Gujaral land costing around Rs 150 crores. JDA Sushma Chowhan, Vice Chairperson, said in a notice to the encroachers, [...] Continue Reading »
Supertech, real estate major, have been asked by the Allahabad High Court’s in recent order to demolish two towers in Noida for violating building laws that has left the residents in the lurch even as the developer grapples to refund their money with 14% interest. There are several other developers in Noida and Ghaziabad against [...] Continue Reading »
The GMR-Megawide Consortium paid Philippine pesos 14.4 billion (approximately $320 million) as upfront premium for award of the concession of the Mactan Cebu International Airport to the Mactan Cebu International Airport Authority, the Philippines. With this, demonstrating its commitment towards the project the GMR-Megawide consortium has fulfilled its first major obligation well within the stipulated [...] Continue Reading »
DLF, realty major, has been slapped a penalty of Rs 2.4 crore by the Competition Commission for not complying with its directions to cease and desist from unfair trade practices. Moreover, continued non-compliance would result in penalty of Rs 1 lakh every day, the fair trade watchdog said. Competition Commission of India (CCI) has imposed [...] Continue Reading »
The Delhi High Court was asked by the Supreme Court to adjudicate the dispute pertaining to construction of, Tata Camelot, a much-hyped housing project in the vicinity of Sukhna Lake at Kansal village near Chandigarh. Following an objection that some of the petitioners in the case had been judges in the Punjab and Haryana High [...] Continue Reading »
It has been quite disappointing to the homebuyers that despite repeated demands to make details of developers public, Noida, Greater Noida and Yamuna Expressway authorities have failed to upload them on their websites. This would have ensured transparency and would have provided assurance to the buyers. As the region is witnessing a boom in realty [...] Continue Reading »
A day after his meeting with top brass of the metro cell, Principal advisor to Lucknow Metro Rail Corporation E Sreedharan, on Tuesday, met chief minister Akhilesh Yadav. It is learnt that he told the CM about various formalities before going ahead with the ambitious project. Some of the sites were inspected by him on [...] Continue Reading »
Gopal Raheja fought his son Sandeep Raheja and daughter-in-law Durga until his last breath in March but the real estate tycoon has left all his estate and properties to his son. Raheja is the founder of Rs 11,000-crore worth realty group. He had accused his son, Sandeep Raheja, of trying to usurp his entire business [...] Continue Reading »
