Emaar MGF
Emaar MGF, the real estate major, is found to have done violations on various matters including those related to corporate governance and related party transactions, as per the Corporate Affairs Ministry. Sources said, the violations were found by Registrar of Companies (RoC), Delhi, during an inspection of the books of Emaar MGF and added that [...] Continue Reading »
The urban development ministry is proposing for an important change in the foreign direct investment (FDI) policy for construction sector, which will permit foreign investors to purchase farm land in India. There has been a proposal to relax the FDI rules for construction and housing by the Department of Industrial Policy and Promotion (DIPP). It has suggested that a company owned and [...] Continue Reading »
Real estate group Emaar MGF which is a joint venture between Dubai-based Emaar Properties and India’s MGF, may not get clean chit in the Enforcement Directorate probe on the alleged violation of Foreign Direct Investment (FDI) guidelines despite the proposed watering down of foreign investment rules by the Government. The company was slapped with a [...] Continue Reading »
Emmar properties tied up with MGF to launch a joint venture in India in 2005. It is focused on high-end residential and commercial properties. Emmar’s most iconic creation is Burj Khalifa in Dubai. The plan for an ‘architecturally aesthetic’ building is still in very initial stages. The company is talking with foreign designers and architects, [...] Continue Reading »
Chandigarh- Real estate developers of Haryana seem to be having issues with the Haryana government’s plan of constituting a real estate regulatory authority. They have requested time from the government for expressing their objections and opinions on the Haryana Real Estate (Regulation and Development Bill), 2013. The Haryana Town and Country Planning Department has prepared [...] Continue Reading »
The Golf Course Extension Road, which is relatively a new locality, is emerging as a new real estate destination. The area is rapidly gaining prominence owing to its easy accessibility to NH-8 and South Delhi via the Gurgaon-Faridabad Expressway. Golf Course Extension Road, constructed in 2009, connects Golf Course Road to Gurgaon-Sohna Road. Developers and [...] Continue Reading »
The Central Bureau of Investigation (CBI) is likely to close its investigation in two cases related to large scale alleged corruption during the Commonwealth Games, of which, one being the Barapullah flyover case and the other is bailout package given to Emaar MGF for construction of 1,168 flats in the Commonwealth Games Village. Sources from [...] Continue Reading »
The Competition Commission of India (CCI) has levied Rs 6300 crore penalty on 11 cement companies and it has yet to consider a surplus of cases against builders. In the case of DLF, CCI looked at the relevant market as ‘high-end residential’ in Gurgaon while it looked at the relevant market as ‘residential accommodation’ in [...] Continue Reading »
Shravan Gupta, managing director (MD) of Emaar MGF, one of the India’s leading real estate developers, has moved a ‘recall’ of the non-bailable arrest warrant petition in the CBI court as the court issued a lookout notice to him. The petition states that Gupta, one of the accused in the Emaar case, is unable to [...] Continue Reading »
Emaar MGF Land Limited has raised $404Mn through a private placement of bonds. The funds raised will be used to redeem fully convertible debentures and to repay accumulated premium. The Emaar MGF is also planning to sell few of its land parcels to reduce debt which stand around R4100Cr. The real estate group has developed [...] Continue Reading »
