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Adani Group, on Friday, announced an investment exceeding Rs 2,500 crore in Uttarakhand. The investment includes expanding cement plant capacities, installing smart electricity meters, and exploring possibilities for developing an aero-city and knowledge city in the northern Indian state, as stated by group director Pranav Adani. ...
In an effort to boost revenue, the Karnataka government introduced The Karnataka Stamp (Amendment) Bill, 2023 in the Legislative Assembly on Thursday. The bill, presented by Rural Development Minister Priyank Kharge on behalf of Revenue Minister Krishna Byre Gowda, aims to increase stamp duty rates and include stamp duty on bank guarantees. ...
Chintels India CMD Ashok Solomon, along with the project manager and three others, among the eight accused in the case of a Sector 109 society's vertical collapse last year, were granted bail by a CBI court on Friday. ...
On December 6, 2023, the Ministry of Commerce and Industry amended the Special Economic Zones Rules-2006. The amendment allows the demarcation of a portion of the built-up area within an SEZ unit on a floor-by-floor basis as a non-processing or non-SEZ area. ...
In a separate development, a Delhi court is in the process of declaring builder Rahul Chamola, Director of 'Nivas Promoters Pvt Ltd,' an "absconder." This stems from allegations of cheating home buyers in a Greater Noida project, as NBWs against him remain unexecuted. ...
A Telangana high court order has led to Hyderabad police's CCS investigating 50 criminal cases against Sahiti InfraTec Ventures and its MD, Lakshmi Narayana. The accusations involve cheating numerous individuals through false promises of property deals in various projects. ...
In 2023, REITs listed on domestic stock exchanges have faced challenges, with a delay in commercial real estate recovery, an IT sector slowdown, and higher interest rates limiting returns. Listed REIT prices have mostly declined this year. Investment advisors, however, anticipate improved prospects in 2024 if the government eases occupancy rules in SEZs. ...
Hindustan Construction Company (HCC) has finalized a 'deed of conveyance' for the sale of a land parcel spanning 2,35,870 sq meters in Village Karnala (Tara), Maharashtra. The company has successfully sold the land for Rs 95 crore to Oak and Stone Construction. ...
Brigade Group has entered a joint development agreement with a landowner for the construction of grade-A office space on Sankey Road in Bengaluru. The project, with a developable area of approximately 0.20 million sq ft, is valued at around Rs 500 crore in gross development value (GDV). ...
The National Financial Reporting Authority (NFRA) has penalized two partners from Mumbai-based Chaturvedi & Shah LLP (C&S) for alleged professional lapses in auditing the FY18 accounts of the now-defunct Dewan Housing Finance Corporation Ltd (DHFL). This action is part of the ongoing regulatory measures against the auditors of the crisis-hit housing finance company. ...
Actis and Mahindra Lifespace Developers, the real estate and infrastructure arm of the Mahindra Group, are jointly making a partial exit exceeding Rs 120 crore from Mahindra Homes. The developer has submitted an application to the National Company Law Tribunal (NCLT) to reduce equity share capital and facilitate the exit of both entities. ...
Ensure that when buying property, both your Aadhaar and PAN cards are linked, and verify that the seller has done the same. Failure to do so may result in a 20% TDS on your property purchase instead of the standard 1%. As per the Income-Tax Act, if the property is valued at Rs 50 lakh or more, the buyer must pay 1% TDS to the government and 99% to the seller, who can later claim it as credit. ...
Edtech giant Byju's has relinquished 6,20,000 sq ft of office space in Bengaluru to cut costs and raise capital amid crises. The surrendered office assets include 550,000 sq ft in Kalyani Tech Park, Whitefield, and 70,000 sq ft in IBC Knowledge Park, relinquished between 2022 and 2023. ...
Architects Pronit Nath and Amisha Nath, based in the city, refute allegations in a Rs 1 crore cheating case filed by actor Samir Kochhar and his friend Varun Bangera. They claim it was the accusers who defaulted on payment for two flats. ...
Oberoi Realty has successfully acquired approximately 6.4 acres of land for around Rs. 196 crore, paid in full. ...
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