Mumbai, India's financial capital, is set for a mega transformation with a massive patch of land opening up for redevelopment; a new metro railway ready to start services by the year-end; and the country's oldest railway station, the Chhatrapati Shivaji Terminus, going for modernisation with private sector participation. Work on Mumbai's second airport will start from next month, while construction of the sea link connecting central Mumbai to Navi Mumbai has already moved into a fast lane despite Covid-induced lockdowns. Also, a coastal road project, connecting Nariman Point to Worli, is under way and will help decongest the city to quite an extent. Of all these mega infrastructure projects, the one that has a huge potential to change the city's skyline is the Eastern Waterfront project - to be built on the Mumbai Port Trust (MbPT) land.
Sure we understand that isolating affected communities is part of the pandemic protocol, but we don't wish our life and freedom to be tossed aside at the slightest excuse, states Shyam G Menon.
Deputy Chairman of the Supreme Court-appointed Special Investigative Team on black money, Justice Arijit Pasayat, said Rs 70,000 crore of black money has been unearthed so far and the sixth report on it will be submitted to the apex court in April.
The party also dismissed as 'absolutely false' the claim that Young Indian Ltd, the company formed in the wake of financial troubles concerning Associated Journals Ltd, was a 'real estate company'.
The company releases documentary showing top executives of dozens of realty firms offering to launder black money.
India's biggest firm, Reliance Industries, has decided to cut salaries by 10 per cent in its oil and refining divisions. Several smaller companies like Kajaria Ceramics have followed suit with cuts as high as 40 per cent for those earning more than Rs 50 lakh.
Several on-site labourers in the city want to take special trains being run to transport workers back home. The rising number of COVID-19 cases in the city has caused anxiety among them.
Shift to new business model to help companies cut capital cost, increase margins.
Experts said many firms had unbilled assets on their books.
Kabul Chawla's company in India is facing the ire of consumers.
Experts say that the lockdown and its aftermath will further quicken the consolidation in the real estate sector, which has been taking place since 2012, with more small players going out of the business and bigger, branded players dominating the market.
Raghavendra Kamath reports on what ails India's real estate sector.
There has also been some easing of norms, allowing foreign direct investment to come into relatively small projects of 20,000 sq metres.
The BSE Realty Index is on a downhill journey.
Support from the committee gives Xi an indefinite extension on the reins of power, which will surely result in hawkish and insular policies. It does not bode well for relations with the USA, or with anyone else who does not bow the knee to Beijing, for that matter.
Financial planners advise against putting capital to work by anticipating what might go up or down.
While Waryam Singh was a non-executive director at HDIL, he is listed as one of the promoters of the company and had relations, including shareholding, with several other entities controlled by the Wadhawans, the HDIL founders.
After a long time, real estate companies could hit the fund-raising trail. The reason is improvement in investor sentiment.
Fitch expected inventory turnover to improve on a sector-wide basis.
Christmas is a perfect time for most NRIs to travel back to India and include property buying in their schedule. Ahmedabad, Kochi, Ludhiana and Chandigarh are some cities that witness generous investments from NRI investors.
Swanky flats, mall to replace the iconic property.
On the 30-share index, Maruti was the biggest loser, shedding 3.60 per cent. Other major laggards were Yes Bank, IndusInd Bank, Tata Steel, Hero MotoCorp and NTPC -- ending up to 2.33 per cent lower.
Experts said the builders will now factor in their losses arising from the removal of input tax credit when they pass on the benefits to end users while the latter may want the entire GST cut to be given to them.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
Retail investors usually get caught up in the frenzy of a bull market and burn their fingers in IPOs, warns Tinesh Bhasin.
The company will use the proceeds to part-repay its debt, which stands at Rs 34,000 crore (Rs 340 billion) even after the recent qualified institutional placement of its shares. An RCom board committee recently approved the sale of these assets.
Urban planners and real estate experts say bad town planning in Mumbai and rising deaths during the ongoing pandemic are a "sad reality". Dev Chatterjee and Raghavendra Kamath report.
Hurun Report and GROHE India named Lodha Developers' M P Lodha and family as India's richest real estate entrepreneur with a wealth of Rs 31,960 crore, followed by DLF's vice chairman Rajiv Singh and Embassy group founder Jitendra Virwani in the second and third position respectively. Total wealth of top 100 Indians in the real estate sector stood at Rs 2,77,080 crore -- up 17 per cent against 2018. While Mumbai accounted for six of the top 10 and 37 of the 100 names, Delhi and Bengaluru had 19 residents each who featured on the list. Smita V Crishna of Godrej Properties featured as the richest woman.
Rediff.com's Syed Firdaus Ashraf and Hitesh Harisinghani speak to millennials to find out if the ease of ride-sharing apps like Ola and Uber was a reason for them not buying a car.
A decline in the real estate sector, rising debt and the company's alleged involvement in 2G scam caused damage to the business and its image.
A Chinese Grand Prix podium hostess who had champagne sprayed in her face by race winner Lewis Hamilton has played down the incident.
NTPC, Sun Pharma Coal India and Asian Paints were among top losers on BSE Sensex
With assets depreciating over time, it will lead to large haircuts for lenders and creditors, say experts
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
The decision was taken in the meeting of the Board of Approval headed by Commerce Secretary Rajeev Kher on September 18.
Falling sales since demonetisation has alarmed CEOs, who want to save cash till the economy recovers.
Karan Choudhury reports on the implications of the strict Real Estate (Regulation and Development) Act and the prosecution of Unitech MDs, Sanjay Chandra and Ajay Chandra, in an alleged fraud case.
In a setback to DLF, the competition Appellate Tribunal on Monday upheld the CCI order imposing Rs 630 crore penalty on the realty major for unfair business practices.
Sector analysts opined that the northern, central and eastern markets were particularly hit
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