The group also plans to nearly halve DLF's debt from Rs 13,958 crore to Rs 7,000 crore by the end of the current financial year by selling around Rs 5,500 crore worth of assets and raising Rs 2,000 crore from the DAL listing, said Singh. Wednesday's divestment will also help reduce DLF's debt by around Rs 1,500 crore since this amount will be given to DAL to repay part of the Rs 4,900 crore it owes the realtor, he added.
Realty firms and consultants hoped however that this would be the last round of monetary tightening by the central bank.
Phonemaker Apple is said to be in talks to take 30,000 sq ft retail space at plush property Maker Maxity, in Bandra Kurla Complex
Completing its over a-year-long probe into Saradha scam, the Serious Fraud Investigation Office (SFIO) has submitted its final investigation report to the government, which may soon start prosecution proceedings for numerous serious violations found during investigations.
At the young age of 15, Wang joined the People's Liberation Army as a guard.
Real estate developer BPTP Group has won the right to develop 94 acres of commercial land at Noida for Rs 5,006 crore. Country's largest realty company DLF and Omaxe were the other contenders. BPTP's winning bid was nearly 70 per cent more than the reserve price of Rs 2960 crore for the land parcel. The commercial complex at Noida will cater to the shoppers living along and commuting via the expressway. BPTP recently bought a 30 acres plot at Hyderabad for about Rs 666 crore.
The new law would boost home buyer confidence as well as investment in the realty sector.
A preliminary report on the investigations is likely to be submitted soon by SFIO, but the final report may take little longer, Corporate Affairs Minister Sachin Pilot said.
13 companies have submitted more than 230 applications for telecom licences and most of these are for a pan-India UASL. DLF and Omaxe join other real estate firms Indiabulls Real Estate, Unitech and Parsvnath Developers to apply for telecom licence.
Unlike many peers in the VC space, LSE grad Juneja doesn't have an entrepreneurial background but is said to be strong in finance skills
Smart homes that do your everyday tasks are now coming on the Indian market. Several real estate firms are making this reality as they venture into constructing automated homes.
Realty major DLF and Bharat Hotels, owners of The Grand group of hotels, are working towards a joint venture for developing and running hotels. While DLF will own the land and be in charge of the actual construction of hotels, the latter will operate
JLL had shortlisted over 10 developers and Embassy was selected after a long due and rigorous process of due diligence.
It is raining private equity funds in the logistics and warehousing space.
From auto to watches, the mood is sombre due to the alarming state of the Indian economy and value erosion in stock market capitalisation.
Rajkot-based bullion trader Pankaj Lodhya, who has been named by the Centre in an affidavit filed before the Supreme Court in the black money case, on Monday denied having a foreign bank account and said he was shocked to find his name in the list.
After selling land in Gurgaon for Rs 1,211 crore recently, the Sahara group is believed to have finalised two more realty deals, one in Mumbai and another in Jodhpur, for Rs 1,250 crore.
This alliance is also planning to tap the infrastructure sector covering express highways, airports and hi-tech construction involving power plants and mega projects.
The central agency had prayed for 10 days custody of the accused, but the court granted a week.
Swan Telecom promoter Shahid Balwa, who along with former Telecom Minister A Raja and 17 others are facing a money laundering case arising out of the 2G scam, on Friday moved the Supreme Court seeking setting aside of a lower court order of framing charges against him.
The real estate sector is set to enter a progressive phase in 2015.
Net sales of the company rose to 18,974.75 crore (Rs 189.74 billion) compared to 17,241.14 crore (Rs 172.41 billion).
Mahindra and SCM Real Estate, the investment arm of Standard Chartered, would together invest Rs 1,000 crore (Rs 10 billion) in multiple projects and hold equal stakes in the JV to be called Watsonia Developers.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Senior advocate Rajeev Dhawan, appearing for Sahara, sought release of Sahara chief Subrata Roy on the ground of his "deteriorating" health and the fact that market regulator Sebi has already been authorised to sell 66 properties
Financial planners advise against putting capital to work by anticipating what might go up or down.
CPPIB is looking to partner with RMZ because the latter is aggressive on both new developments and acquisitions.
Sunil Munjal will pursue new business interests and lead Hero Corporate Services as its chairman.
"India will be home to a fifth of humanity, its economy 16 times bigger than today, and one of the world's largest consumer markets. India will be a world better in many areas"
The company plans to raise Rs 750 crore; other realtors may follow.
Grosvenor House hotel was put on sale by its lender Bank of China earlier this year after a 'technical default'
The Sensex and Nifty remained above their key levels of 36,000 and 10,900 throughout the session, indicating strong investor optimism after a prolonged spell of caution.
It is one of the three marquee hotels owned by Sahara outside India.
Infrastructure and real estate prominently feature as wealth destroyers.
The sale is to generate the bail money for the release of Sahara Group chief Subrata Roy.
Biggest contribution came from Bharti group-led Satya Electoral Trust.
Hilton has also hired Mallika Rao Bedi, former head of human resources at Oberoi and Trident Gurugram, as its regional head of human resources (Asia Pacific).
Modi's demonetisation move has hit the real estate market in Delhi and Mumbai
