Realty News
Odisha Government gives permission to Odisha Industrial Infrastructure Corporation (Idco) to approve the creation of mortgage to the industries. The state government has come out with a notification saying that Odisha Industrial Infrastructure Corporation (Idco) can give permission to industries for creation of mortgage. It comes as a relief to industries which were finding it [...] Continue Reading »
Reliance’s Trichy-Dindigul and Trichy-Karur infrastructure projects assigned negative outlook by ICRA Reliance Infrastructure has suffered a setback. ICRA, which is a credit ratings agency, has assigned a negative outlook to long term fund-based limits of its two road projects – Trichy-Dindigul and Trichy-Karur. The projects are located in South India. Negative outlook to Trichy-Dindigul is [...] Continue Reading »
Brinda Karat of CPI(M) against the acquisition of agricultural land by private companies in Sonahatu block in Ranchi district. CPI (M) pledged to fight against acquisition of agricultural land by private companies in the Sonahatu block in Ranchi district for their proposed plants. Brinda Karat addressed a public meeting at a village in the block, [...] Continue Reading »
Pune-based real estate developer has completed the acquisition of a 34 acre land parcel at Wakad, Pune for approximately Rs. 350 crore. The plot is in close proximity to the Rajiv Gandhi Hinjewadi IT Park and has a total saleable area of 2.3 million square feet. Sujay Kalele, CEO, Kolte-Patil Developers Ltd. said on the acquisition “We [...] Continue Reading »
As per the latest estimate by Deloitte, the trillion dollar opportunity that the Indian infrastructure sector presented at the start of the 12th five year plan is undergoing serious financial constraint. The consulting company says that there is a shortage of around Rs 19 lakh crore in the debt component against the requirement of Rs 32 [...] Continue Reading »
The Asian Development Bank (ADB) has approved Rs 966.75 crore for 484 new road projects to be implemented across 14 districts of Odisha hit by tropical cyclone Phailin and the subsequent floods. A total road network of 1790.37 Kms will be re-established by utilizing the funds from the bank. ADB has approved the assistance under the third tranche of [...] Continue Reading »
As per a survey by Housing Start Up Index (HSUI), there has been a significant rise in housing demand in Tier-II cities like Bhopal and Indore, while the Tier-I cities have taken a beating. HSUI is an indicator of volume of construction in the housing sector in certain period covering 27 cities across India. Indore witnessed [...] Continue Reading »
Government of India’s decision to blacklist Cyprus for not providing tax data is set to hit developers and realty funds. Investors who have taken funds through Cyprus are likely to face a big decline in returns as developers will now be expected to withhold higher tax amounts. The investments have now jumped to 30% which [...] Continue Reading »
MPC Synergy Real Estate is all set to exit its investments in the real estate developing company of Anil Nanda Group as told to the Economic Times by two people familiar with the matter. A person involved in the deal with Akme Projects was quoted as saying, “The fund does not want to continue business [...] Continue Reading »
In an effort to facilitate investors and make the tedious procedure of buying Land under Section 118 of the HP farm tenancy and land improvement Act simpler, the Revenue Department has introduced to simplify the procedure by reducing the formalities involved. In a notification issued on January 30, the Revenue Department has in addition to [...] Continue Reading »
