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Monthly Archives: March 2019

Tata Communication extends deadline for demerger of su...

The Tata group holds a stake of nearly 49% in Tata Communications through Panatone, an investment arm that holds over 30% in Tata Sons and Tata Power. Tata Communications (Tata Comm) has extended the period for scheme of arrangement for de-merger of surplus land from Tata Comm to Hemisphere Properties India Ltd. (HPIL) from March 31, 2019 by one more year. “… we nearby inform you that …

MahaRERA releases SOP to remove delaying developers

The authority, however, clarified that it could initiate such action only against non-litigated projects. PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) on Thursday issued a standard operating procedure (SOP) to allow homebuyers to remove a developer in case the project was delayed. The project would then be handed over to an expert panel for completion. The authority, however, clarified that it could initiate such action …

Amrapali Group diverted Rs 3,000 crore of homebuyers&#...

The auditors, Ravi Bhatia and Pawan Aggarwal, filed a voluminous report running into more than 2,000 pages in the SC. NEW DELHI: Seven months after the Supreme Court ordered a forensic audit of Amrapali group to track misuse of homebuyers’ money, the final report said illegal diversion of over Rs 3,000 crore led to the financial collapse of the group, leaving thousands of investors stranded. The …

Gurugram: Projects with cancelled licence may lose lan...

Earlier, DTCP had cancelled licenses of nine developers with residential and commercial projects in sectors 37, 74, 81A, 88, 95, 102, 107, 108, 110 and 114. GURGAON: Haryana Shahari Vikas Pradhikaran (HSVP) is likely to take over the land of nine Gurgaon colonies, whose licences have been cancelled by DTCP. The department has formed a committee chaired by the HSVP administrator to explore ways to take …

MS Dhoni moves SC against Amrapali over Rs 40 crore du...

Dhoni entered into various agreements with the Amrapali group in 2009 to promote the company as its brand ambassador and granted exclusive rights to the builder to use his endorsement in marketing and public relations activities. HIGHLIGHTS: He remained associated with the group for around six years but parted ways in 2016 after duped homebuyers launched a social media campaign against the cricketer for …

Consumer forum orders BMC to make one free parking man...

Municipal corporation asked to amend development rules so that builders fall in line. MUMBAI: The State Consumer Disputes Redressal Commission (SCDRC) has directed the BMC to make it mandatory for builders to provide a car park with each apartment sold without any additional charge. The Commission has asked the BMC to modify its Development Control Rules which currently allow a builder get away with fewer car …

SILA Group to invest Rs 70 crore to develop housing pr...

The Mumbai-based firm commenced operations in 2010 as an integrated facility management company, but later ventured into project and construction management as well as real estate advisory and consulting services. NEW DELHI: Real estate consultant SILA group has entered into the property development business and is constructing a luxury housing project near Mumbai with an investment of about Rs 70 crore, a top company official said. …

HDFC Capital Advisors invests in Runwal Group’s ...

Runwal Group’s arm Runwal Residency is developing this mixed-use project on a land parcel it has bought from Gammon India. HDFC Capital Advisors, the wholly-owned subsidiary of India’s largest mortgage lender, has invested Rs 500 crore in realty developer Runwal Group’s 115-acre township project in Dombivli near Mumbai, said two persons familiar with the development. HDFC Capital Advisors is making this investment through its …

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