GURUGRAM: Five real estate developers, some of whom run hotel chains and schools in the city, are accused of evading taxes by $400 million, according to 200 I.T. officers who have been conducting raids at 28 locations over the past five days. The raids started at 5 a.m. on September 14 and are still going […]
The income tax division searches five builders and discovers “Rs 400 crore tax evasion.”more
NEW DELHI: The Delhi Real Estate Regulatory Authority (D-RERA) has advised all developers against breaking the law and requested that they register any residential or commercial projects with the organization right away. According to a directive released on September 4, failure to follow the directives might result in fines of up to 10% of the […]
Builders are urged by Delhi RERA to register their projects or face sanctions.more
NEW DELHI: The Competition Commission has ordered the Chandigarh Housing Board (CHB) to stop engaging in anti-competitive acts and has decided not to levy any penalties because the organization has already implemented corrective measures. It was claimed that CHB exploited its dominating position by, among other things, imposing unreasonable conditions and clauses on allottees in […]
CCI orders Chandigarh Housing Board to stop anti-competitive behaviour.more
NEW DELHI: The Delhi Real Estate Regulatory Authority (DRERA) has urged national capital real estate promoters and builders to “appoint a ‘Allottee Grievance Cell’ for each project with a designated telephone number to redress allottee grievances.” It has also directed them to publicly post their names, addresses, RERA number of registration of the projects, and […]
The Delhi RERA has directed builders to establish an allottee grievance cell.more
NEW DELHI: The state Real Estate Appellate Tribunal (BREAT) has issued a reality check on the powers of Bihar’s real estate regulatory authority, saying the authority, or RERA cannot choose “officers and employees” like a “private limited company” can. It stated that all such appointments may only be made by the state government after consulting […]
Bihar REAT regulations RERA cannot appoint officers on its own, as a ‘private limited corporation’ can.more
GURUGRAM: Eight residential units in DLF 1 regions were shut on Thursday by the Department of Town and country planning (DTCP) enforcement division for conducting business without the required authorizations. DTCP has previously shut down more than 50 homes in exclusive residential communities due to violations of building standards. Manish Yadav, the district town planner […]
Gurugram: The DTCP closes eight residences in DLF-1 due to unauthorized commercial activity.more
GURUGRAM: The directors of the Mahira Group, Samalakha MLA Dharam Singh Chhoker and his sons Sikander Singh and Vikas Chhoker, allegedly stole close to Rs 107.5 crore from roughly 1,500 homeowners in a low-cost housing project in Sector 68, the Enforcement Directorate claimed on Monday. According to the investigation agency, the accused transferred loans to […]
The executives of the Mahira Group stole Rs 100 crore from customers; ED is investigating.more
Since the Covid-19 pandemic’s onset, the liquidity and credit profiles of important listed real estate developers have significantly improved as a result of the sustained sales momentum in the home property market over the past three fiscal years. Both the collections and realisations of these enterprises have increased as a result of the booming residential […]
Continuous house sales enhance developers’ liquidity and credit standing.more
Despite multiple difficulties, including numerous unhappy homebuyers, the insolvency and bankruptcy proceedings of real estate enterprises have seen consistent progress in terms of remedies. Experts predicted that the performance would increase if the government changed the code to allow for resolution based on the type of projects being undertaken rather than imposing a single, strict […]
62% of instances involving real estate insolvency have a successful conclusion.more One of the largest alternative asset management companies in the world, Brookfield, administers office parks and buildings totaling 18.7 million square feet (1.7 million square meters) in cities including Mumbai, Kolkata, and Gurugram close to New Delhi. Accenture, Amazon, and Samsung Electronics are some of its tenants. NEW DELHI: According to three sources with direct […]
A $400 million offering is planned for July by Brookfield India REIT, according to sources.more
