Real estate in India
Gulf Oil Corporation Ltd has entered into a joint development pact with Hinduja Estates for development of the 76 acre company land in Hyderabad. As per sources, the project is to be completed in five-six years and will be located at the company’s campus close to the busy residential-cum-business hub in Kukatpally. As per agreement, [...] Continue Reading »
The Punjab and Haryana high court has ordered the Haryana government to take action against builders for illegal use of groundwater. The court also ordered to seal all borewells at construction sites in Gurgaon over the next two weeks. The court order will have an adverse effect on nearly 450 ongoing commercial and residential projects. [...] Continue Reading »
Godrej Properties, the real estate development arm of the Godrej Group, through its wholly owned subsidiary Godrej Projects Development Private (GPDPL), recently signed an agreement to redevelop a private society owned property in Ghatkopar, Mumbai. The project is located in the heart of the central suburbs, just off LBS Marg and has excellent connectivity to [...] Continue Reading »
A recent survey by the civic authority has revealed that there are more than 320 real estate projects in Mumbai, both commercial and residential, which have been put on hold. The data came up during a recent survey of mosquito-breeding sites in the city. Majority of these projects, around 202, are in the western suburbs [...] Continue Reading »
The Supreme Court has put stay on a July 23 Haryana High Court ruling, providing temporary relief to TC Gupta, director general of the town and country planning department in Gurgaon. Gupta was found guilty of allowing residential complexes in Gurgaon by issuing license to Anant Raj Industries for construction of housing colonies, despite the [...] Continue Reading »
Andhra Pradesh High Court has approved the merger of subsidiary IVRCL Assets and Holdings with the parent company, infrastructure firm IVRCL. A composite Scheme of Arrangement has been made between IVRCL Ltd and IVRCL Assets & Holdings Ltd and two subsidiary companies RIHIM Developers Private Ltd and IVRCL TLT Private Ltd. As per Scheme of [...] Continue Reading »
The recent RICS Global Commercial Property Survey shows that the demand for office space in India has fallen in the April-June quarter of 2012. The report reflects the general growing concerns about the domestic economy, which has seen downward spiraling in growth predictions, as well as weakening global climate. The report states that demand from [...] Continue Reading »
DLF, the country’s largest developer, is all set to sell its 17.5-acre land in Mumbai’s Lower Parel to Lodha Group and a private equity (PE) player for about Rs 2,800 crore. The company is in the process of selling several non-core assets including land parcels, SEZs and some office buildings, to reduce its debt. DLF [...] Continue Reading »
The country’s largest listed real estate company, DLF‘s shares increased by 1.2 percent of Rs 197 after a report that the company is selling its plot in Mumbai. The report said that the plot is being sold to Lodha group and a private equity company for Rs 2,800 crore. A report in Economic Times said [...] Continue Reading »
Federation of Indian Chambers of Commerce & Industry (Ficci), is organising a day-long South Indian Real Estate Conference 2012, on August 3, 2012, at the Hotel ITC Windsor, in Bangalore. The meet will be held in the backdrop of the real estate sector witnessing tremendous growth in recent years and the prospect of the sector’s [...] Continue Reading »
