If the developers continue to express inability to pay, buyers should file a petition in the SC and request it to initiate proceedings under Article 142 of the Constitution
DLF, Unitech, Emaar-MGF and the Ambience Group are in race to build the largest mall.Delhi and its suburbs are witnessing a race without a finishing line - the rush to build India's largest shopping mall. The players are the top names in the real estate business - DLF, Unitech and Emaar-MGF.
The realty run-up in the tier-II cities in north India are outrunning the employment opportunities, says Unitech's MD Sanjay Chandra.
After building a subscriber base of nearly 50 million in about eight chequered years, it finally gave up as it saw itself up against a 600-pound gorilla that breezed through double that many subscribers in a fraction of that time, says N Sundaresha Subramanian.
He allegedly advanced the cut-off date to favour accused firms in allocation of 2G licences.
Sun Pharma promoter Shanghvi's brother-in-law Sudhir Valia to pick 26%
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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.
Telenor of Norway and Sistema of Russia - on Friday asserted that they would take legal measures.
In commercial real estate, leasing of office space was higher although the activities were subdued in retail segment.
'The transactions were done in a circuitous route deliberately and most of the companies involved in it are Reliance ADA group firms.'
The Supreme Court has asked the CBI to place before it the "files and notings" which purportedly suggest that its Director Ranjit Sinha wants stopping of whole trial against Reliance Telecom Ltd (RTL) and three top executives of the Reliance ADAG, who are accused in the 2G spectrum scam case.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
One of several jokes doing the rounds these days is about the launch of a new political party, called the Tihar Munnetra Kazhagam.
The Supreme Court has granted bail to five corporate executives in 2G spectrum case.
In contrast to their lavish lifestyle, all the five spent their night in a 90 square feet Tihar prison cell.
The CBI on Wednesday called Loop Telecom, CEO Sandeep Basu, Chairman of Shyam group Rajiv Mehrotra, former telecom minister A Raja's brother A K Perumal and close aide Sadiq Batcha, for questioning in relation with the 2G spectrum scam.
Gautam Doshi, Surendra Pipara and Hari Nair, senior executives of the Reliance ADA Group who were granted bail on Wednesday by the Supreme Court in the 2G spectrum scam case, will provide major relief to their high-profile boss Anil Ambani.
As real estate investment trusts are yet to take shape in India, about a half a dozen realty firms have started the spadework for listing REIT-like vehicles on the Singapore Stock Exchange.
Real estate companies such as Unitech, Peninsula Land, HDIL and Future Capital, the financial services arm of Future Group, are in talks with investors including some leading private equity funds for raising investments for their projects, after the collapse of Lehman Brothers, whose third party fund had promised investments in these property companies' projects, according to industry sources.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Mobile Telecommunications Company (Zain), the third largest telecom operator in West Asia and a leading operator in Africa, has initiated talks with several Indian telecom service providers to buy stakes.
Domestic brokerage Sharekhan's last month's analysis of buy and sell transactions by mutual funds shows that the fund houses purchased stocks from sectors such as infrastructure, IT, telecom and healthcare, while offloading shares from oil and gas and banking sectors. Domestic mutual funds are lapping up the buying opportunity present in the bear gripped stock market and made net purchases worth Rs 3,179 crore (Rs 31.79 billion) in equities in June.
A special court on Thursday acquitted all accused in the 2G spectrum allocation scam cases. The scam relates to the granting of 2G spectrum licence allocations in 2007-08 which caused, according to a report by the Comptroller and Auditor General of India, a loss of Rs 1.76 lakh crore. Here is a detailed timeline of how the case came to light and how it has progressed over the years:
RIL, SBI and ONGC are among the top 200 companies ranked 121st, 150th and 152nd, respectively by US magazine Forbes. New entrants include Hero Honda Motors, Sun Pharma, Indian Bank and Jindal Steel and Power Ltd. However, five Indian companies -- scam-hit IT firm Satyam Computer, realty firm Unitech, Suzlon Energy and two Anil Ambani group firms Reliance Power and Reliance Capital -- have been dropped.
Justice Brijesh Sethi held that the 2018 amendment to the Prevention of Corruption Act relating to Section 13 (1)(d) would not come to the rescue of the acquitted accused in this appeal.
Welcome to the era of too many investors chasing a limited number of commercial real estate deals.
'In many parts of the country, the empty nest-and-empty-nest egg story is a painful boom-to-bust saga.' 'Among the old and young, it is hitting pockets hard, in a linked chain of debt-laden banks, corrupt politicians and builder mafias and disastrous government policies,' says Sunil Sethi.
The ED, in its chargesheet, had alleged that Rs 200 crore was paid by Swan Telecom (P) Ltd promoters to DMK-run Kalaignar TV.
The Delhi high court on Tuesday refused to grant early hearing on the Central Bureau of Investigation's appeal challenging the acquittal of former Union telecom minister A Raja and others in the 2G spectrum allocation scam case.
The high court's order came on a plea by acquitted individual and Kusegaon Fruits and Vegetables Pvt Ltd director Asif Balwa that the CBI has not placed on record the mandatory authority under the provisions of the CrPC.
According to sources in the agency, the counsel had been briefed about its stand which includes informing the apex court about 'certain moles' in the probe agency who were providing documents to people outside.
Shift to new business model to help companies cut capital cost, increase margins.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
DLF Ltd has paid a whopping Rs 1,675 crore (Rs 16.75 billion) for 38 acres of land in west Delhi to DCM Shriram Consolidated Ltd and the Lohia Group.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
Shapoorji, Kalpataru, Godrej pursuing Rs 60,000 crore opportunity in the region
On July 23, the apex court had cracked its whip on errant builders for breaching the trust reposed by homebuyers and ordered cancellation of the registration of Amrapali Group under the real estate law RERA, and ousted it from its prime properties in the NCR by nixing the land leases.
DLF says it has started the process of giving possession of housing units at New Town Heights project according to its commitment
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