The raids continued for nearly seven hours during which the ED sleuths seized a number of documents.
The promoters who own the Leela brand will also be transferring the label to Brookfield for all hospitality businesses.
Amidst a severe water crisis, the Karnataka Water Supply and Sewerage Board banned the usage of drinking water for car washing, gardening, construction, water fountains and road construction and maintenance. It also imposed a fine of Rs 5,000, if the order is violated.
Many individuals filing tax returns declare zero tax liability. They accounted for two-thirds of the total individual returns filed.
India ranked 52 in 2011 index against its position at 53rd among 125 nations a year ago.
'Even for operational buildings, we are looking to smarten them in various ways.'
Companies are either taking small government projects alone or bidding for larger ones with consortium partners. The companies, which had 18-75 per cent of their order books in property development, say they are facing payment delays of 20-90 days from some of the private developers, blocking their working capital requirements. Some of them take a week's advance payment from developers to execute their projects.
The 55 basis point (bps) spike in the US 10-year bond yield, triggered by a combination of FOMC's hawkish commentary and BOJ's relaxation of the yield control curve (YCC) has made analysts cautious on Asian equities and expect them to trade sideways in the short-to-medium term.
The list of cities that leading property consultants feel can give fantastic returns to investors based on the development in the area. These areas are not in any metro but could have proximity to one.
CapitaLand, the Singapore state-owned developer, is set to make one of the biggest bets by a foreign company on India's retail property boom, investing in 15 shopping centres worth S$2.1bn ($1.46bn) in association with two Indian construction and property groups.
In India, real estate has remained largely outside the purview of formal economic activity.
With the real estate sector witnessing robust demand, realtors are doling out freebies and offering a slew of attractive schemes to lure potential customers this festival season. "Developers are providing Amazon vouchers that go up to Rs 1 lakh, iPads, and flexible payment plans that propel customer excitement," said Angad Bedi, managing director at real estate company BCD Group. Bedi said customers have a mindset to go for a change during the festival season, and developers see it as an opportunity to combine it with long-term and practical offers that drive buyers to close in on a deal during this period.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
Maharashtra Government has decided to impose capital value-based system to calculate property tax on buildings, lands, houses and establishments across the state.
More than half (56 per cent) of chief economists expect the global economy to weaken in 2024, with most saying the pace of geo-economic fragmentation will accelerate, according to the latest "Chief Economists Outlook" released on Monday at the World Economic Forum (WEF). The report indicates that the global economic prospects remain subdued and uncertain. Challenges include tight financial conditions, geopolitical rifts, and the rapid development of generative artificial intelligence (AI).
Besides, Rs 360 crore will be allocated for Chief Ministers' Special Development Programme and Minorities Colony Development Programme in the year, he said.
Do you understand the nuances of your payment plan to your developer?
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
Such investments come with their own share of risks and buyers may need to hold on for at least 5 to 10 years.
Prospective buyers must make a well-considered decision regarding whether this is the right time to buy a house, particularly with home loan rates at near-peak levels, and the risk of job losses looming in many sectors.
Dubai, Singapore, London are the top overseas markets for Indians
The company has been given time till June by mortgage holders Reuben Brothers
IIT Kharagpur will start an institution on intellectual property laws to educate students on protection and exploitation of technological IP and it will known as Rajiv Gandhi School of Intellectual Property Laws.
Although residential sales faced a major set back in Q2, they made a comeback with help of pent up demand.
Property prices may drop at least 30 per cent by mid-2009 as developers are expected to lower prices to nudge buyers out of their "wait and watch" stance, according to experts.
Project delays, stretched balance sheets impacting asset quality indicators of HFCs.
Q3 will be better than the second, say bankers and builders.
Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.
Mussavir Hussain Shazib and Adbul Matheen Ahmed Taahaa were traced to their hideout near Kolkata and apprehended by an NIA team, they said.
The government can seek details from sellers such as sources of funds while buying.
The company will develop residential and commercial real estate on the 17-acre land in the plush area, which it bought from DLF last year.
Bollywood loves a kiddie party!
Manchester United is no stranger to ownership tussles and the rough and tumble of financial markets.
Whether it would help these cash-starved firms to improve their profit margins is yet to be seen, but such a move would send a strong signal that the phase of price correction is over. "Developers want to send signals that they are good. But if they are increasing above 10-15 per cent, it would be irrational," said Sanjay Dutt, chief executive of Jones Lang LaSalle Meghraj, a property consultant.
A low-pressure area, set to form over east central Bay of Bengal on May 22, is likely to intensify into a cyclonic storm and strike the Odisha-West Bengal coast on May 26, the Met department said on Thursday, sparking fears of another Amphan-like catastrophe.
Sanjiv Puri, chairman and managing director of ITC, is looking to expand the conglomerate's play outside India by taking "strategic positions" in markets close to home in the non-cigarette fast-moving consumer goods (FMCG) and hospitality businesses. In a recent conversation with Business Standard, Puri revealed that ITC is setting sights beyond India's borders. "We already export to 100-odd countries. We want to scale that up and take some strategic positions in markets close to us," he said.
The Supreme Court, examining whether states can sub-classify Scheduled Castes and Scheduled Tribes for grant of quota inside quota, on Wednesday said all SCs and STs may not be homogeneous in terms of their sociological, economic, education and social status.
The Congress wants to reinforce the tax more powerfully now after its four generations reaped benefit of the wealth passed on to them, he said.
Punjab government has decided to divest all the 29 properties of loss-making Punjab Tourism Development Corporation by December this year, a corporation official said in Chandigarh on Monday.
Amid the row over Congress leader Sam Pitroda's remarks, the party on Wednesday asserted that it has no plans whatsoever to introduce an inheritance tax and cited former Union minister Jayant Sinha's remarks to allege that it is the Modi government that wanted to do so.
