Realty firm Supertech is in talks to sells its office complex in Noida for around Rs 1,000 crore as it aims to cut debt significantly and save interest cost, sources said.
Mumbai-based ASK Investment Managers Ltd, the holding company, is a leading asset and wealth management firm and it soon plans to launch Initial public Offer (IPO) to raise an estimated Rs 2,000 crore.
Infrastructure firm Ashoka Buildcon Tuesday said its joint venture firm has emerged as the lowest bidder for a Rs 443.23 crore worth railway project in Punjab.
With non-performing loans rising at major banks and financial institutions, bank lending - the main source of borrowing for developers and buyers - has dwindled, reining in a rampant property market.
The Supreme Court Thursday allowed Delhi Police to arrest Amrapali group CMD Anil Sharma and two directors forthwith in a criminal complaint filed against them. The apex court also directed attachment of personal properties of Sharma and other directors.
Indian real estate market is expected to jump over fivefold to USD 650 billion by 2040 and its share in the country's gross domestic product (GDP) is set to double from the current seven per cent, Niti Aayog Vice-Chairman Rajiv Kumar said on Friday.
The contract to build 56 km highway stretch is under hybrid annuity mode (HAM) under which the government provides 40 per cent of the project cost to start work, while the remaining investment is made by the developer.
Realty firm Mahagun Group will invest over Rs 600 crore in the next four years to develop a commercial project in Greater Noida West near here, a company official said.
The time-bound nature of the insolvency process provides a limited window for developers to reach settlement with the aggrieved buyers, failing which the resolution professional takes over the management, rating agency Icra said in a report Tuesday.
The agency noted that the realty firm's Lodha sale of 28 percent of equity in Lodha Developers UK allows the developer to monetise its stake in the two London properties currently under development and may also pave the way for further stake reductions by LDL.
Urban local bodies and state development authorities should be made responsible for any delay in giving approvals to real estate projects, just as developers are held accountable for not completing houses on time under the new realty law RERA, Vice President M Venkaiah Naidu said on Thursday.
On Monday, DHFL disclosed to the exchanges that that the Income-Tax Department's Investigation Wing had issued a notice to the company seeking information/evidence on certain aspects of the books of accounts.
Housing demand and supply were higher in Bengaluru, Chennai and Hyderabad as compared to sales and new launches in the north and west regions, property consultant Anarock in a report said.
The GST Council, headed by Union Finance Minister and comprising his state counterparts, had on January 10 decided to set up a GoM to look into ways to boost housing sector under GST.
RBI Governor Shaktikanta Das slashed the repo rates by almost 25 bps to 6.25 percent, a move which the real estate sector was eagerly waiting for much needed push for the sector which is reeling under liquidity crunch after the recent IL&FS crisis.