The need for a regulatory authority has been felt since a long time in the real estate sector, struggling for many years due to tough market and economic conditions.
Namrata Acharya finds out more about a movement aimed at preserving not only the mansions of north Calcutta and the grand colonial buildings of central Calcutta, but also the architecturally modest, yet unique, houses of south Kolkata.
The finance ministry also said the maximum funding will be Rs 400 crore for any single project that will be seeking assistance from the 'special window' for completion of the 1,508 projects comprising about 4.58 lakh units.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
Real estate development major DLF Universal Limited, part of the Rs 1000 crore (Rs 10 billion) DLF group, would set up the country's largest information technology park in West Bengal, which would be ready within 24 months.
Tata Housing to take up around 13 projects for constructing homes for the old.
Shares of DLF on Thursday plunged nearly 9 per cent after the Punjab and Haryana High Court set aside the state government's decision to allot 350 acres of land in Gurgaon to the realty major in 2010.
Owing to the risk perception attached with the segment by banks, the residential realty segment has been increasingly relying on non-banking financial companies and housing finance companies to raise debt financing, reports Abhijit Lele.
Finance Minister Nirmala Sitharaman on Thursday announced a new job creation scheme by giving subsidy to those establishments that make new hires. The subsidy would be to cover for retirement fund contributions by employees as well as employers for two years, she said. Employees contribution (12 per cent of wages) and employer's contribution (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years, she said. Under the Aatmanirbhar Bharat Rozgar Yojana, every Employees' Provident Fund Organisation (EPFO)-registered establishment taking new employees would get this subsidy.
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RBI on Wednesday surprised the markets by leaving key policy rates unchanged, notwithstanding persistent high inflationary pressure.
Rodman, who is one of a handful of Westerners to have visited reclusive North Korea and met Kim Jong Un, arrived in Singapore on Monday, the eve of the summit, declaring he was "excited to be part of it".
These cities are -- Mumbai Metropolitan Region (including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Surat-based businessman Mahesh Savani will also bear the expenses to be incurred on marriages of Uri martyrs' daughters.
With six airports handed over to the Adani group for 50 years, the government is now all set to hand over another 25 airports to private players in a bid to 'monetise' them. Official figures reveal that since 2017-18, the government has spent and will be spending Rs 14,500 crore on significantly revamping infrastructure at most of these airports before handing them over to private players. The Airports Authority of India (AAI), which operates these airports for the government, has spent billions of rupees in building new terminal buildings, runways, reinforcing taxiways, upgrading aircraft landing systems, radars and a host of other heavy duty and capital intensive infrastructure works.
In an enticing offering, a real estate developer n Dubai is handing out a Lamborghini, BMW or a Mini Cooper on select luxury property units sold during the Dubai Shopping Festival.
PMC Bank depositors have spent the last one year holding protests, meeting politicians, writing to various authorities in an effort to get their hard-earned money back.
The businessman, Pankaj Gangar, used to transfer the money to Shakeel
It also named bosses for Bank of India, IDBI Bank Ltd and Punjab National Bank from within the state sector
The company reported sales of 3.75 million square feet in FY14.
From helping their employees infected with the Covid-19 virus to vaccinating them or supporting the families of those who might have succumbed to the infection, several companies in India are trying to do their bit in this difficult time. Some have even widened their support net to include all stakeholders as well as an extended community. To the families of the employees it lost to Covid-19, Noida-headquartered IT services and consulting company HCL Technologies is, for instance, paying salary for a year, medical insurance for three years and extending support for their children's education for five years.
Realty plans hit roadblock; delay could hit modernisation
The move is likely to help 4.59 lakh housing units across the country.
The earlier ambiguity over bifurcation of the state had affected the real estate business.
The expansion comes in the wake of Infosys is planning to expand the workforce at Lodz delivery centre by 500 people.
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.
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
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