A developer arrested on Sunday after fleeing from custody earlier in the day was nabbed from Mumbai airport for allegedly duping a bank for Rs 30 crore, a Thane police officer said. Jagdish Wagh (37) from Dombivali, Mumbai, is accused of dupping the CKP bank with Rs 30 crore following default on loans taken on […]
Fraudulent developer arrested at Mumbai Airport for dupping Rs 30 crore.more
India’s sudden takeover of a struggling Indian shadow bank will not stop its lenders’ troubles, faced with the risk of significant write-offs if a fraudulent account is reported to Dewan Housing Finance Corp. If the KPMG report absolves Dewan of irregular lending, then only around Rs 5,500 crore of provisions would be needed. Dewan has […]
DHFL write-offs will hit Indian Banks by Rs 36,000 crore.more
According to an analyst poll by Reuters, The housing market in India, burdened by unfinished projects, as developers struggle to access money, is expected to recover modestly in the coming year on government efforts to unblock the market. The government has approved the 100 billion rupees ($1.4 billion) fund earlier this month to help clear […]
Analyst poll – Real estate sector is expected to bounce back modestly through the government measures.more
The Forum for People’s Collective Efforts (FPCE) lobby of homebuyers requested involvement by Prime Minister Narendra Modi to avoid any attempt to prevent homebuyers from moving the National Company Law Tribunal (NCLT) against errant builders. Last year the Government implemented the Insolvency & Bankruptcy Code to consider homebuyers as financial creditors and authorize them, in […]
FPCE demands Prime Minister’s intervention to get errant developers to NCLT.more
In 2020, Western Railway will conduct a drone survey to stretch the Goregaon-Borivli Harbor Line, paving the way for more trains and increasing capacity. In the context of the Mumbai Urban Transportation Project (3A), Harbour line services were extended till Goregaon in April 2018. A senior WR said, “We had a pre-bid meeting on Wednesday with […]
Western Railway plans to extend harbour line till Borivli by taking drone & geotechnical survey of the route.more
Residents of Azad Nagar chawls in Wadala, in violation of the Bombay High Court ruling in March 2019, wrote to Municipal Commissioner Praveen Pardeshi to terminate the development agreement with East & West Developers, a part of RNA Group, for failing to pay transit rent to 324 residents. On 1 September at the project location […]
Wadala Chawl residents ask BMC to forfeit redevelopment agreement with East & West Developers.more
On Wednesday, the WeWork owner declared a net loss that has been more than doubled to $1.25 billion in the third quarter, as the company’s operator added a record number of desks to its global network but was unable to control rising costs. In the quarter ended Sept. 30, WeWork opened 97 new sites, the […]
WeWork Company plans to remove non-performing sites as the net loss increases to $1.25 billion in Q3 2019.more
Life Insurance Corporation, India’s biggest insurer, has invested Rs 1000 crore in Tata Capital Housing Finance (TCHF). Three people with direct knowledge said this, in the wake of signs that the debt market is improving. More than a year ago, the infrastructure giant IL&FS induced a financial crunch that kept the most powerful domestic institutional […]
Tata Capital Housing Finance (TCHF) raised Rs.1000 crore from LIC of India.more
Prestige Group, the real estate company, has purchased 28.99% stake in the commercial development of a DB Realty project. This Commercial property is located in Mumbai’s Bandra area which is having over 7 lakh sq ft development potential and priced at approximately Rs 2,100 crore. The joint venture will develop a project for mixed uses, […]
Prestige Group acquires a joint venture deal for a Commercial property located in Bandra, Mumbai.more
In an important decision which would support a large number of shops in local shopping centres (LSC) in areas such as Greater Kailash, Defense Colony, South Extension, etc, the Delhi Development Authority (DDA), at its meeting on Thursday, granted an exemption from conversion charges to shops that initially auctioned as purely commercial property. “DDA wanted […]
Delhi Development Authority (DDA) announced exemption on shop conversation charges.more