News

DLF’s K P Singh retires with one regret—Gurgaon not the dream city he had wanted

New Delhi: Gurgaon may be the flashiest suburb in India with its shiny towers, wide roads, hip malls and penthouse apartments of top CEOs. But as he hangs up his boots after nearly six decades in business, Kushal Pal Singh, the man synonymous with the pre-eminence of Gurgaon, says he has just one regret — […]

Realtors woo buyers with discounts to boost sales amid pandemic. Good time to buy?

For those looking to buy property, this seems like a good time as interest rates are low and developers are showering buyers with discounts and freebies. However, in view of economic uncertainty and job losses, many have postponed their decision to buy homes. In order to lure buyers at a time when real estate like […]

Prime Minister to inaugurate multi-storeyed flats for MPs on Monday

NEW DELHI: Prime Minister Narendra Modi will inaugurate multi-storeyed flats, which have come in place of old bungalows, here for members of Parliament on November 23 via video-conferencing. A PMO statement on Saturday said that these flats are located at Dr B D Marg in the national capital. Eight old bungalows, which were more than […]

DTCP issues notice to Savyasachi Infrastructure for selling mortgaged plot

GURUGRAM: The department of town and country planning (DTCP) has issued a show cause notice to the developer of an affordable residential plotted colony in Farrukhnagar for selling off plot mortgaged to the bank. The developer has been directed to file his reply within seven days and if he fails, action will be initiated against […]

States should reduce stamp duty, registration fee for affordable houses: NHB study

NEW DELHI: A study done for the National Housing Bank (NHB) has suggested the state government to reduce stamp duty and registration charges for low value houses for the poor (affordable housing) to induce more people from low income groups to own such dwelling units. The study done by IIM, Bangalore has estimated that states’ […]

Registration of construction workers through door-step delivery begins in Delhi

NEW DELHI: Delhi Deputy Chief Minister Manish Sisodia on Thursday said that the registration of construction workers for government schemes will be done through door-step delivery. The door-step delivery service has started today on ‘1076’ helpline, aiming that no construction worker will have to stand in long queues at government offices. “It has now been […]

Fidelity Investments renews lease with Xander for 3 lakh sq ft space in Bengaluru

MUMBAI: Fidelity Investments, the American multinational financial services major, has renewed a lease for 3 lakh sq ft office space for its headquarters at twice the rentals being paid currently, said two persons with direct knowledge of the development. The company has inked the deal with Xander Investment Management, the owner of the commercial office […]

Sebi fines Raymond for violating market norms involving lease of JK House

Markets regulator Sebi on Thursday imposed Rs 7 lakh fine on Raymond Ltd for not obtaining approval for certain related party transactions involving the lease of JK House. Raymond violated provisions of Listing Obligations and Disclosure Requirements (LODR) Regulations, Sebi said in an order. Considering the stature of the firm, Sebi said it is expected […]

Primary sales to witness a decline of 40-50% in top 10 cities in 2020: CRISIL

NEW DELHI: CRISIL Research estimates overall primary sales to witness a decline of 40-50% in top 10 cities in 2020. Developers in southern India have performed better than the rest of the country as these have a larger share of branded developers. The decline in the fiscal first half for the top seven listed developers […]

Property registration to be linked to national judicial data grid

NEW DELHI: In a step towards bettering India’s ranking on World Bank’s Ease of Doing Business index, the government has decided to link property registration with the National Judicial Data Grid (NJDG). This will not only bring more transparency in land-related disputes but also help in fast-tracking commercial cases. “In pursuance of the cabinet secretary’s […]

Varde Partners to acquire two commercial assets in NCR at over Rs 1,000 crore

NEW DELHI: US-based Varde Partners is in talks with New Vernon Capital to acquire two commercial buildings in Gurugram and Noida, three persons with direct knowledge of the deal said. The deal is expected to be worth more than Rs 1,000 crore, with the complex in Gurugram’s Udyog Vihar costing Rs 600-700 crore. The buildings […]

Oaktree, Apollo lead giants betting on stressed India assets

India’s macroeconomic troubles are attracting a new wave of global investors betting they can eke out profits from the rising number of capital-starved businesses struggling to stay afloat. Some global heavyweights like Apollo Global Management Inc. and Oaktree Capital Group have either struck recent India deals or scaled up their teams in the country in […]

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