Delhi Police's Economic Offences Wing (EOW) has arrested Shiv Nandan Singh Yadav, a proclaimed offender, in connection with a multi-crore real estate fraud. Yadav was wanted in nine FIRs for allegedly duping investors in a housing project that never materialised.
Do home prices really never fall? Ramalingam Kalirajan begs to differ.
'The directives to enhance last-mile funding, consider revival funds, and systemic reforms across the sector are expected to revive stalled projects, improve accountability, and accelerate the delivery of affordable and mid-income housing.'
Indian property market and its regulations need to be reformed further to attract foreign direct investment while the demand for space for business process outsourcing is expected to cross over two crore square feet in the next three-five years.
Real estate biggies expcet single window clearance for upcoming projects.
New law could pose challenges of cost escalation, increased paperwork, fear developers.
'In real estate project insolvency, no one size can fit all.'
The Supreme Court of India has issued a strong warning against the use of "non-existent, fake, and hallucinated" judgements generated by artificial intelligence (AI), likening it to "the release of methyl Isocyanate in the province of law and justice: invisible, insidious, and catastrophic." The court set aside an NCLT verdict that relied on such AI-generated precedents.
The judgement came on a plea of 'Forum For People's Collective Efforts' , an umbrella homebuyers association, challenging the constitutional validity of West Bengal Housing Industry Regulation Act, 2017, which is more or less identical to the Centre's RERA.
The Enforcement Directorate conducted fresh searches on the Merlin Group, a Kolkata-based real estate company, as part of an ongoing money laundering investigation. The searches follow previous raids on the group and its promoters, with the ED investigating alleged financial links between the company and West Bengal government officials.
The CBI has filed two chargesheets in connection with the siphoning of Rs 657 crore from Haryana government and Chandigarh Smart City Limited funds held at IDFC First Bank. The fraud involved fictitious transactions, shell entities, and alleged gold purchases and real estate investments, with IDFC First Bank having already reimbursed the Haryana government.
The Enforcement Directorate is investigating a Kolkata-based realty company, Merlin Group, for alleged financial links to West Bengal politicians and officials as part of a money laundering probe, seizing digital devices and documents during raids.
The Enforcement Directorate conducted fresh searches against entities being probed in connection with the money laundering case against Kolkata-based real estate company Merlin Group and others. The action follows previous raids on April 8 and focuses on alleged financial links between the company and West Bengal politicians and officials.
Foreclosure is a procedure that takes place when the borrower is not able to pay the loan on time. Due to this reason the lender (banks, financial institutions) would declare the borrower as a defaulter. If the borrower is not able to meet the loan expectations for a prolonged period of time, then the lender would try to sell the property and recover the losses that were created by the lender.
Unless security is given paramount importance, it is difficult for real estate activity to pick momentum in J&K.
The Enforcement Directorate (ED) is shifting its focus to emerging financial crimes such as cryptocurrency fraud, terror financing, cyber-enabled crimes, and narcotics trafficking, according to Director Rahul Navin. The agency reported a high conviction rate and significant asset restitution to victims of financial fraud.
If the real estate sector is properly managed, it could drive not just finance but demand for a range of products and services, observes T N Ninan.
The Central Bureau of Investigation (CBI) is set to take over the investigation into the embezzlement of 590 crore from Haryana government accounts held with IDFC First Bank in Chandigarh. The Haryana government decided to hand over the probe to the central agency last month following allegations that funds were diverted for personal use through shell companies and real estate investments.
Making a presentation on Indian Real Estate Sector: Slumdog or Millionaire at an event hosted by the Observer Research Foundation, Sameer Nayar, managing director and head of real estate (Asia Pacific), Credit Suisse, said that land use laws in India are the most antiquated.
Over $4 billion belonging to various global realty funds is ready to enter the Indian real estate sector on the back of $1 billion which has already come in, according to Bobby Parikh, managing partner, BMR & Associates.
No promoter is allowed to advertise, market, book, sell or offer for sale, or invite persons to purchase any plot, apartment or building, in a project without registering with the authority.
This is the great tragic flaw in how we handle medical emergencies. The golden hour is wasted. People get a chest pain and they call their family doctor. Or they drag the patient to a small local clinic that doesn't have the equipment. What people don't realise is that in an emergency, you don't need advice. You need a large hospital.
Real estate business and market have so far been the monopoly of promoters, developers and builders.
The Enforcement Directorate (ED) reports a decline in traditional financial crimes due to sustained investigative actions and government initiatives, while highlighting emerging challenges like cryptocurrency fraud and terror financing.
Buyers suffer because they often don't know the relevant details.
Concept of a real estate Bill has been around in the government for almost 10 years now.
Laws in several states are inconsistent with the model Bill passed by Parliament.
A man in Hanumakonda district is under investigation for allegedly murdering his pregnant wife and two young daughters by pushing them into a swimming pool. Police are investigating the motives behind the alleged crime.
As the investigation into the death of real estate businessman Ketan Vishal Agarwal continues to reveal shocking details, the family of one of the prime suspects has come forward claiming his innocence in the case.
TVS Venu Group has agreed to acquire a minority stake of up to 9.9 per cent in Jana Small Finance Bank, including a 4.9 per cent ownership by TVS Motor Company, through a combination of primary issuance of warrants and a secondary purchase.
The CBI has registered an FIR to investigate the alleged embezzlement of 550 crore from Haryana government accounts held with IDFC First Bank, following a referral from the state government.
At a time when capital allocations to real estate are growing globally, investors are expecting transparency standards in real estate to be at par with other asset classes, says Anuj Puri.
Authorities in Kuwait have launched a crackdown on illegal property extensions in the wake of a devastating fire at a seven-storey building that claimed the lives of 50 people, including 46 Indians, according to a media report on Saturday.
The new law would boost home buyer confidence as well as investment in the realty sector.
Madhya Pradesh BJP president Hemant Khandelwal has termed the land scam allegations against Yadav as "baseless", saying whenever the state has a CM from the backward class, the Congress attempts to weaken him.
The Act envisages that the states and Centre will formulate specific rules for real estate regulation.
Real estate bill seeks to impose penalties, including de-registration of the project and other fines in case of a breach.
Urban ministry changes rule before public consultation by environment ministry
With the controversial Land Acquisition Bill pending for long, government on Tuesday made a strong pitch in the Lok Sabha for "some sort of understanding" on it, saying passage of the legislation is necessary to make land available for the programme of 'Housing-for-All' by 2020.
'The government has to stop trying to fix things for lenders, projects, homeowners and developers and think instead about how to fix the market for houses,' says Mihir S Sharma.
