Interest
The protest took place at the PACL India Ltd office. The investors in various schemes of the company complained that the cheque issued by them bounced. The company is a real estate investment company. The police explained that the company asks investors to invest in barren land for a specific period of time. The investors [...] Continue Reading »
For 2013-14, The Bangalore Circle of State Bank of India (SBI) has crossed Rs 14,800 crore in home loans depicting 20% growth in sanctions during the year. Against Rs 4,000 crore in the previous fiscal, for the year, the Bank has sanctioned Rs 4,800 crore in home loans. Ashwini Mehra, chief general manager, SBI alleged [...] Continue Reading »
Housing Development & Infrastructure Ltd has been asked by the High Court to consider handing over possession of ready flats at its Premier Residency project at Kurla in Mumbai. The Bombay high Court suggested that the lawyers representing the developer and home buyers should try for an out of-court settlement. Aejaz Saiyed, who has bought [...] Continue Reading »
Secretary, Civil Aviation, Ashok Lavasa, said on Thursday that on the recommendations of the Election Commission, the modernisation of Chennai, Kolkata and four other airports has been put on hold. The Commission has asked us to put it (airport modernisation) on hold till the process of elections is over. The date for submission of bids [...] Continue Reading »
Fresh loans worth Rs 1,375 crore have been granted to 18,510 beneficiaries during the third quarter September-December last year as a decrease of 55% from the same period in 2012. A record shortfall in demand for home loans last year has been led by the slowdown in real estate and overall economic slump. The fall [...] Continue Reading »
Union Ministry of Food Processing Industries (MoFPI) has asked the Odisha government, following the amendment of guidelines of Mega Food Park Scheme, to send proposals for developing new mega food parks in the state. 40 mega food park projects have been approved by MoFPI in as many as 23 states which are in various stages [...] Continue Reading »
The bottom line of real estate developer DLF may not be significantly impacted by stake sale in Aman resorts. In the past one year, DLF’s stock has decreased by nearly 50% mainly because of company’s lacklustre operational and financial performance. The demand in NCR is not very healthy due to subdued macro environment. The company [...] Continue Reading »
Maharashtra finance minister has indicated that the state government will provide a waiver on 15 per cent interest as penalty on value-added tax (VAT) levied on property transactions between 2006 and 2010. The news comes as a relief for the property developers and buyers. The government further clarified that VAT will be levied only on [...] Continue Reading »
The Haryana government has asked Maruti Suzuki to pay Rs 235 crore to the state government as enhanced compensation to the farmers for land acquisition as ordered by Supreme Court for its plant in Manesar. The company has been served three months notice and warned that the land allotted for the Manesar plantwould be taken, [...] Continue Reading »
Greater Noida Authority has been offering a zero period to builders for paying installments. This seems to have motivated the homebuyers of Noida Extension. The buyers, forming a group of around 80 members, on Monday, demanded banks to waive off interest paid on EMIs during the land row period. Although builders have promised not to [...] Continue Reading »
