Realty News
Real estate firm Anant Raj Ltd has reduced debt by 6 percent to Rs. 1,403 crore last fiscal and is considering selling some of its hotel properties and land parcels to further cut the borrowings. Delhi—based Anant Raj said it has also invested about Rs. 1,000 crore in last three years to purchase 270-acre land, [...] Continue Reading »
The Indian National Lok Dal (INLD) has said it would continue to raise the issue of Change of Land Use (CLU) during its ongoing election campaign. This will be done in order to expose the “wrong doings” by the current government during its two consecutive terms in the office. INLD general secretary RS Choudhary also [...] Continue Reading »
Realty developers in Maharashtra could soon face disqualification and cancellation of registrations of their projects. This has created some ripple in the real estate industry and the realtors are trying to take measures to safeguard their companies from this disqualification and cancellation. If a court declares the document (contractual agreement, power of attorney, etc.) giving them the [...] Continue Reading »
The Punjab government’s ambitious plan to mop up Rs 2,760 crore in the current financial year from stamp duty and registration fee is going to be a difficult task. This is due to the slowdown in the real estate sector. According to real estate experts the buyers are yet to enter the market, however are waiting [...] Continue Reading »
There is some good news for India Inc. as the Canada Pension Plan Investment Board (CPPIB), the giant pension fund that makes private-equity investments, plans to open an office in India. CPPIB has hired Kotak Realty Fund executive V Hari Krishna as a key member of its local team. Krishna was a director in Kotak [...] Continue Reading »
Shubham Housing Development Finance Company (Shubham) is a provider of home loans and home improvement loans for individuals with informal income. This Gurgaon-based company today announced raising Series ‘C’ funding of Rs. 122 crore. The funding was led by Motilal Oswal Private Equity along with existing investors- Helion Advisors, Elevar Equity, Accion Frontier and Saama Capital. Shubham’s balance sheet [...] Continue Reading »
The high net worth individuals in India prefer to buy their second homes in leading global financial centres, including London, New York and Singapore. This data was published by a report by New World Wealth. According to the data published by this report, the bulk of London’s second home buyers come from the rest of [...] Continue Reading »
The economy seems to be taking an upturn by looking at the number of activities in the corporate world. L&T (Larsen and Toubro) declared that it has acquired 50 % stake in L&T-Ramboll Consulting Engineers Ltd (LTR) held by Ramboll Denmark. With this acquisition, LTR now becomes a wholly owned subsidiary of L&T. L &T said [...] Continue Reading »
Government is likely to cancel the approvals granted by it to nine companies including Hindalco Industries, Essar and Adani. This approval was given to these companies for setting up of special economic zones (SEZ); however no work has been done to execute the projects. The Development Commissioners (DC) have recommended to the Board of Approval [...] Continue Reading »
The Bhubaneswar Development Authority (BDA) would construct 2,900 houses for the Economic Weaker Section (EWS) people at Shampur and approved the slum dwellers’ rehabilitation project. The total cost of the project will be Rs 16-crore. 239 dwellers of Tarini Basti and Arabinda Basti spread over Damana, Gadakan and Chandrasekharpur will be benefitted out of this [...] Continue Reading »
