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.
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.
Darwin Group has offered Rs 14,000-crore deal to the lenders for acquiring the grounded airline
The Enforcement Directorate is examining a request from the Central Bureau of Investigation asking it to attach properties of DB Realty worth over Rs 200 crore of DB Group under the stringent Prevention of Money Laundering Act.
Both lenders and Etihad are not comfortable with the entities holding stake in Jet as they have no proven credentials in running a big business
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.
They are small town boys who went on to make it big in global financial powerhouses.
Most group firm MDs will report to Nusli Wadia's younger son.
Ashok Piramal Group company Peninsula Land has inked a property deal worth Rs 1,200 crore (Rs 12 billion) with Essar Realty Holdings, the realty arm of the Essar Group, to sell and lease premises at its upcoming IT park named Peninsula Technopark on LBS Marg in Kurla. The deal was signed recently, according to sources.
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.
The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
The revival in Mumbai's property market could help the group.
The Indian bourses on Monday pared all its gains and slipped into the red towards the end of the trading session owing to weakness in the metal and realty stocks.
Demonitisation will facilitate transparency in the real estate industry, which has had a notorious reputation as a safe locker for black money, says Saket Mohta.
In its latest report for the office market, property consultant Cushman and Wakefield said the total seats leased by enterprises could cross 50,000 during the 2021 calendar year. Enterprises had leased 18,213 seats in the first six months of the 2020 calendar year and 36,255 desks during the entire last year.
Rogue lending under political influence was rife in the Congress-led regime and is not happening in the Modi regime, certainly not on that scale. But if PSBs cannot lend as indiscriminately as they did last time in the name of 'credit expansion', how well will these banks do, asks Debashis Basu.
According to official figures, only 30 per cent of the total population in Assam has bank accounts, reports K Anurag
Amid slowdown, the company is buying quality land parcels at marquee locations across the country.
The company received a fresh equity infusion in 2012-13.
Branded residencies, designer-stamped homes have a snob value and are sold at a high premium, to willing buyers
ICICI Bank was the top gainer in the Sensex pack, rising around 3 per cent, followed by Axis Bank, HDFC twins, SBI, L&T, ONGC and Infosys. On the other hand, Sun Pharma, Asian Paints, Nestle India, UltraTech Cement and HUL declined. NSE Nifty rose by 79.60 points or 0.67 per cent to 11,914.20.
Among Sensex constituents, HCL Tech suffered the most by diving 2.26 per cent, followed by HDFC shedding 2.10 per cent.
Textiles-to-aviation conglomerate Wadia Group, which made a foray into the real estate space recently with a new company Bombay Realty, on Tuesday launched a fully integrated, mixed use development project -- 'Island City Centre' -- in south central Mumbai.
In a breather to the Mumbai-based realty developer G L Raheja group in its long-drawn legal battle with Wadia Group Chairman Nusli Wadia over a 478-acre prime plot in Malad, Mumbai, the Bombay High Court on Thursday allowed an appeal filed by a Raheja unit against an earlier order, which was in favour of Wadia.
About Rs 2,000 crore of realty money has flown into stocks in the National Capital Region in the months after demonetisation.
This is the latest in a series of large office space buyouts by RMZ Corp which has created a portfolio of rent-yielding commercial assets in India.
Zinedine Zidane, Donald Trump, Steve Waugh have all lent their name to realty projects in the country.
Money laundering is punishable under the provisions of PMLA.
During the arguments on the bail pleas, ED had argued that the accused had committed the offence of money laundering punishable under provisions of PMLA.
Integrated entity for realty, infrastructure sector
Corporate honchos from real estate sector to manufacturing to textile say the Budget does not have enough to help their sectors
Shapoorji, Kalpataru, Godrej pursuing Rs 60,000 crore opportunity in the region
On Tuesday, the authorities sealed a Saradha office at the Lalganesh area in Assam, after protestors ransacked the office.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
He is the man behind Blackstone's India strategy
All the corporate accused had challenged the special CBI court's order declining their bail pleas and directing their arrest on April 20.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
