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 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 UK has announced a comprehensive sanctions regime against Israeli settlements in the West Bank, banning the import of goods and targeting entities involved in settlement expansion. Foreign Secretary Ed Miliband condemned the "ethnic cleansing of Palestinians" and highlighted international support for the UK's stance, while Israel reacted strongly with counter-measures.
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.
The ruling does not mean developers must always pay stamp duty. The liability depends on the applicable law and contractual terms.
Unless security is given paramount importance, it is difficult for real estate activity to pick momentum in J&K.
A 40-year-old woman in Bengaluru has been accused of killing her four-month-old twin daughters before attempting suicide. Police registered an FIR based on her husband's complaint, who stated she had been suffering from postpartum depression and abnormal behaviour after IVF treatment.
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 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 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 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.
Premier League club Liverpool FC has finalised a deal to sell a minority equity stake to a consortium led by British-Indian businessman Amit Bhatia.
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.
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.
Examine the complete title chain to establish how the present owner acquired the property.
Real estate business and market have so far been the monopoly of promoters, developers and builders.
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.
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.
The question for the next 20 years is not whether India can become a $5 trillion or $10 trillion economy. Those are attractive targets, but the real question is whether India can create enough productive jobs, educate its children properly, make its cities liveable, and give hundreds of millions of people a substantially better life, asserts Ramesh Menon.
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.
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.
West Bengal could be the Bharatiya Janata Party's real test case of its business-friendly policies, points out Kanika Datta.
The new law would boost home buyer confidence as well as investment in the realty sector.
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 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.
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.
