Banks and housing finance companies (HFCs) are trying to figure out their exposure to real estate projects in Noida Extension, which have come under cloud after courts cancelled land acquisition in several villages by Greater Noida authorities.
Developers are bearing the brunt of the crisis in Noida Extension after the Supreme Court asked builders to relocate home buyers or refund their money with interest and directed the authorities to return the land acquired from farmers in Sahberi village.
Historically, DDA flats were offered at lower-than-market rates and, hence, they provided quick upside.
Cement and steel prices have shot up sharply in the past four months, with steel prices rising 10 per cent and cement increasing 34 per cent since January.
DB Realty claims its business is going as usual. It is developing 13 projects, which will add 20 million sq ft in the next four years.
High net worth investors (HNIs) caught in the Rs 405-crore fraud at Citibank's DLF Phase-II branch in Gurgaon, have recovered their money, with the bank refunding the principal amount, pending investigations.
Developers are battling sales slowdown due to rising interest rates and tighter lending norms, spurt in input costs and a lending squeeze from banks hurts.
Warburg Pincus, the private equity major, is set to enter an equal joint venture with Patu Keswani's Lemon Tree Hotels to get into affordable housing.
"Gone are the days of euphoric buying. Today, people are doing calculated buying. They are doing thorough due diligence, checking out the location," said Kunal Banerji, president, M3M India.
Citibank has started refunding money to those who had invested in the fraudulent scheme run by its relationship manager at Gurgaon, Shivraj Puri. Many entities of the Munjal family, victims in this regard, got back their money in recent days.
It is alleged that Air India never got a level playing field, when it came to allotment of terminals, lounges, or check-in counters at airports.
India's leading private airport developers, GMR and GVK groups, are planning to bid for the modernisation of Ngurah Rai International Airport in Bali, Indonesia. Both are currently undertaking feasibility studies and preparing to participate in the tender process, sources said.
Antacid Digene and pain drug Brufen have been among the top in their categories in India for decades. But not their manufacturer, Abbott.
South African President Jacob Zuma thanked Commerce Minister Anand Sharma for India's support in the matter, when the two met here this morning. India had been lobbying for South Africa's inclusion.
But the newer entrants prove nimbler than the slowing pioneers.
In 2000, it was projected as the next big thing to happen in healthcare, for its potential to replicate the outsourcing success stories in information technology and business process outsourcing.
"A lot of PE investors are interested in renewable energy and we are exploring PE investments for our wind energy initiatives," said Thomas John Muthoot, chairman and managing director.
PharmaSecure, a US based company, is in talks with Indian drug majors to implement a new, cost-effective, SMS-based technology that would allow consumers to check the authenticity of the drug - in a strip, tablet or a bottle - by directly getting in touch with the manufacturer.
Indian companies have raised over Rs 3.13 lakh crore up to September, excluding foreign currency convertible bonds (FCCBs) and external commercial borrowings in September. This is close to the cumulative Rs 3.14 lakh crore raised in 2009.Inc's highest fund mobilisation was in 2007, when it mopped up over Rs 3.20 lakh crore.
Essar Power and GMR are among the global bidders for a 450-Mw dual fuel power project planned by the Bangladesh government at Sirajgonj, about 140 km from Dhaka.
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