Realty News
On Tuesday, Vikram Bakshi – the estranged Indian partner of McDonald’s Corp – asked the US fast food chain to return all the prime properties which had been leased to the company to set up its restaurants in India. The arguments on behalf of Bakshi were concluded by his counsel S N Mukherjee, at the [...] Continue Reading »
In a written response to a Dwarka resident who had complained about irregular water supply in his area, Delhi Development Authority (DDA) has stated that the public as well as the politicians prevent it from stopping illegal tapping of piped water. The DDA said in its response to a complaint made by Arun Banerjee – [...] Continue Reading »
In an apparent indication that the Delhi Development Authority (DDA) may delay the delivery of flats in Rohini, a senior DDA official has revealed that it will probably not be possible for the Authority to meet the March 2015 deadline for handing over the possession of all the flats in Rohini. With a local agitation [...] Continue Reading »
A land row brewing between a central government-run research institute and private hotel project has red-flagged the construction of a national laboratory on a 3.25-acre piece land near the Vizag-Bheemili Beach Road. Though the land for the under-construction hilltop resort, Bay Park Hotels and Resorts, was leased out for 33 years to private parties, none [...] Continue Reading »
Over 46,000 bighas of agricultural land have been transformed into non-agricultural category across Assam in the last 13 years, the state Assembly was informed today. In a written reply to a query by AGP MLA Padma Hazarika during the ongoing Budget session, Revenue and Disaster Management Minister Prithibi Majhi said a total of more than [...] Continue Reading »
A new residential project – called ‘Prateek Grand City’ – has recently been launched by realty developer Prateek Group in Ghaziabad. The estimated total outlay for the project is Rs 5,000 crore. The site for the new ‘Prateek Grand City’ residential project occupies a prominent location alongside the proposed 14 lane National Highway-24, in close proximity to [...] Continue Reading »
The Delhi Government has been ordered by the Union Government to furnish details related to the allotment of flats to the poor under the Jawaharlal Nehru National Urban Renewable Mission (JNNURM). In its correspondence to the Delhi Government with regard to flat allotments under JNNURM scheme, the Ministry of Housing and Urban Poverty Alleviation has [...] Continue Reading »
On the sidelines of a realty industry function held recently in Mumbai, real estate bigwig DLF said that it has efforts underway to ensure that its debt is reduced to Rs 12,000-14,000 crore by FY17. The company had a debt of Rs 19,000 crore in FY14. For bringing down its debt by FY17, the realty [...] Continue Reading »
A spokesperson of PACL Ltd. has revealed that the company has plans underway to file an appeal with the Securities Appellate Tribunal (SAT) against a Sebi order pertaining to the return of a record Rs 49,100 crore to investors in three months. PACL collects money from investors, and invests that money in cheap land which [...] Continue Reading »
In an evident attempt to push property sales during the forthcoming festive season this year, realty developers are offering real festive discounts after a gap of nearly two years. According to analysts’ projections, the period between October and December 2014 will likely garner sales of at least 60,000 units across seven major cities of India. [...] Continue Reading »
