The Enforcement Directorate (ED) has issued fresh summons to Shiv Sena MP Sanjay Raut asking him to appear on July 1 for questioning in a money laundering case linked to the re-development of a Mumbai 'chawl' and other related financial transactions involving his wife and friends, officials said.
The Supreme Court on Wednesday directed a full-fledged probe into the collusion of Tihar jail officials with Unitech's imprisoned ex-promoters Sanjay and Ajay Chandra, based on Delhi police commissioner Rakesh Asthana's report filed in a sealed cover.
Housing sales across top eight cities rose 51 per cent last year, even as the office market continued to slump due to the Covid pandemic with gross leasing witnessing a 3 per cent fall, according to Knight Frank India. Housing sales increased to 232,903 units during last year, from 154,534 units in 2020, but demand was down 5 per cent from the 2019 pre-pandemic levels and 37 per cent lower than the 2011 peak numbers. In the office segment, the gross leasing of office space fell to 38.1 million square feet in 2021, from 39.4 million square feet in the previous year, due to the adverse impact of the second wave of the Covid pandemic.
"I do not think prices can come down because costs are high. We have not seen any decline in prices so far, says Adi Godrej"
According to industry estimates, around Rs 8,000 crore of real estate projects covering over 40 million square feet are facing delays.
Sebi on Wednesday imposed a total penalty of Rs 25 crore on Mukesh Ambani, Anil Ambani, other individuals and entities for non-compliance with takeover norms in a Reliance Industries case dating back to 2000.
Developers are cautious about the timing of launches in the near term, given the relative uncertainty in demand pick-up and logistical challenges during the lockdown. However, affordable housing projects slated for the first quarter (Q1) of 2020-21 (FY21) may get launched this quarter itself.
Rakeen, a company promoted by Ras Al Khaimah, one of the seven emirates in the UAE, said it will invest $5 billion in India's real estate projects in partnership with a Chennai-based company.
He is the first former central minister to be apprehended by the agency in the case
Sotheby's International Realty was founded in 1976.
Pawar said he was upset that his three sisters were dragged into this.
At the reserve price, these auctions will take the total fund raising to at least Rs 3,100 crore (Rs 31 billion).
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Bajaj Auto was the top laggard in the Sensex pack, tumbling around 6 per cent, followed by M&M, Reliance Industries (RIL), Tata Steel, Tech Mahindra, SBI, Axis Bank and ICICI Bank. NSE Nifty tumbled 162.60 points or 1.36 per cent to 11,767.75.
Real estate firm Ansal Properties and Infrastructure Ltd plans to invest Rs 30,000 crore (Rs 300 billion) to develop 16 townships in north India during next 3-4 years.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
The project will house 3,000 residential units across 10 towers in the first phase on a 20-acre land parcel that Raymond owns in Thane
Union Home Minister Amit Shah and chief ministers of some BJP-ruled states were among those present at the Raj Bhavan ceremony.
However, the report pointed out that the implementation of the grievance redressal process still has many gaps as "only 22 per cent of the consumers involved in a grievance redressal process were satisfied due to the uncertain timelines involved". The Real Estate (Regulation and Development) Act, 2016, was passed by Parliament in March 2016.
Two top executives of Tata group -- Chairman of the group's realty and infrastructure arm R Krishna Kumar and its Managing Director and Chief Executive Officer Sanjay G Ubale -- were on Thursday questioned by the CBI in connection with the 2G spectrum allocation scam.
Metal stocks fell on Tuesday, with the S&P BSE metal index sliding 2.8 per cent compared to the 0.64 per cent fall in the benchmark S&P BSE Sensex
In the broader market, the BSE Smallcap and BSE Midcap index gained 0.1% and 0.4%, respectively
In a bonanza for its shareholders, billionaire Anil Ambani-led Reliance Communications on Sunday announced it is hiving off its entire real estate assets, estimated to be of around Rs 12,000 crore (Rs 120 billion), into a separate listed company.
Four Hinduja brothers -- Srichand, Gopichand, Prakash and Ashok -- had in 2014 signed on a document saying the assets held by one brother belong to all, and that each of them will appoint the others as their executors. But now family patriarch Srichand Hinduja, 84, and his daughter Vinoo want the letter to be declared of "no legal effect" and the family's assets be separated as per his wish of 2016.
In commercial real estate, leasing of office space was higher although the activities were subdued in retail segment.
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
Consultants say at Rs 1,442 a sq ft, the developer has got a good bargain.
It was the relentless pursuit of justice over a decade by a group of senior citizens that resulted in the Supreme Court's order for demolition of the illegal 40-storey twin towers of a real estate group in Noida.
One of Mumbai's biggest real estate redevelopment projects of Bombay Development Directorate's (BDD's) chawls (large buildings divided into many separate tenements, offering cheap, basic accommodation) has taken off in Central Mumbai, opening up a Rs 20,000-crore opportunity for real estate companies. It is expected to drive down real estate prices in Central Mumbai by up to 25 per cent, forecast real estate experts. Spread over 92 acres in Central Mumbai's prime localities of Worli, Lower Parel, and Dadar and consisting 195 four-storey houses, the BDD chawls were constructed in the 1920s.
It is intriguing that the CBI has shown little interest in the most scandalous and biggest collective investment scheme ever, from the Sahara group, asserts Debashis Basu.
The Central Bureau of Investigation (CBI) has started a fresh inquiry into the Rs 1,700-crore land deal between Tata Realty and Unitech in 2007.
Hungry for deals, Godrej Properties plans to treble the number of project launches in the current financial year, from five launches in FY2012 to 15 in FY2013.
In the wake of interest rates coming down, realty companies seem to be banking on low cost affordable housing projects.
Darwin Group has offered Rs 14,000-crore deal to the lenders for acquiring the grounded airline
Telecom firms floated by DB Realty and Unitech have been identified by the CBI's prosecutor as having been given preferential treatment in the award of licences by former communications minister A Raja.
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