Realty News
In this general election, India Inc has featured heavily in the heated exchanges among parties. India’s biggest real estate developer DLF has suffered in the crossfire because of its alleged links to Sonia Gandhi’s son-in-law Robert Vadra. BJP leader Uma Bharti says explicitly on April 12 that Vadra would be jailed if the NDA came [...] Continue Reading »
The private equity real estate arm of the global investment firm Xander Group has invested Rs 370 crore in Kapstone Constructions. It is the It is the group company of Mumbai-based developer Rustomjee. The money raised will be used for reducing debt burden and for further growth of the Rustomjee group. Boman Irani, Chairman, Rustomjee, [...] Continue Reading »
According to the section 185 of the Companies Act 2013, a company cannot give loans to (or provide security on a loan taken by) a person in whom its director is interested. Such a director could mean a director of a lending company or its holding firm, or a partner or relative of any such [...] Continue Reading »
Jarvinia is looking for partners for Hishtil, an Israel-based global nursery corporation, for operations in India. Hishtil is known for production and sale of vegetables, herbs, seedlings and young plants for the professional and hobby markets. CA Rashmi Parekh, director, Jarvinia Project Management Pvt Ltd Informs that they are working with Hishtil to find out [...] Continue Reading »
According to an ICRA study, in 2013-14 while the number of downgrades exceeded upgrades for the third consecutive year, with 602 downgrades and 559 upgrades, overall, 3.3 per cent companies moved to the default category as against 4.5 per cent in 2012-13. ICRA said ,“During the last fiscal while both the number and severity of [...] Continue Reading »
The Credai-Karnataka opened its 9th chapter in Karwar, where currently around 50 projects are under way and with over 20 developers. Nagaraj Reddy, President, Credai-Karnataka says that opening of the chapter is affirmation by the real estate industry of their desire to set high standards. He adds that the materials for a building bear a [...] Continue Reading »
The world largest real estate network, RE/MAX, appoints Manpreet Grewal as Regional Director – India Operations. This network has presence through 100+ Indian offices and 35+ Indian cities. Manpreet joined CybizCorp, the master franchisee of RE/MAX for India, five years ago. He has now been elevated to lead the real estate vertical. Mr. Sam Chopra, [...] Continue Reading »
Mrs. Tulsi Tanti, managing director, says that the Suzlon Energy Ltd plans to raise Rs.1,000 crore by corporate debt restructuring (CDR) process that Suzlon started in January 2013. The company is also targeting to cut off operating expenses, staff costs and headcount by 20 percent, besides selling non-critical assets. As per the investor presentation, $400-500 [...] Continue Reading »
The RBI pointed out that bank should make sure that all future transactions related to the sale and purchase of real estate as well as acquisition on lease or rental basis at the overseas centers are done as per the board approved policy. This directive has been issued after it came to the central bank’s [...] Continue Reading »
Realizing the scarcity of awareness of real estate laws among real estate developers, the GNLU has conducted a certificate course for the real estate developers and architects. This was GNLU’s second chance of promoting the real estate laws. Earlier, the GNLU has organized a national symposium of realty law. The weekend certificate course was attended [...] Continue Reading »
