Properties

ED attaches immovable properties worth Rs. 298.21 crore of Chettinad Group

ED initiated an investigation based on an FIR registered by the Directorate of Vigilance and Anti-Corruption (DVAC), Chennai

Amber Dalal case: ED raids Mumbai properties, seizes Rs 37-cr worth deposit

Bank and demat account deposits apart from cash worth about Rs 37 crore has been seized by the ED as part of a money laundering probe against a Mumbai-based financial consultant and his company who are alleged to have duped investors of Rs 600 crore through a Ponzi scheme. The federal agency said on Sunday that the action was undertaken after carrying out raids in the metropolitan city on June 21 against Amber Dalal and his company Ritz Consultancy Services. The Enforcement Directorate case of money laundering stems from a Mumbai Police FIR that charged the Chartered Accountant and his company with taking money from investors through a "suspected Ponzi scheme that promised high returns." Dalal "absconded" with this money after giving initial returns. It has been gathered that Dalal raised more than Rs 600 crore from 1,300 investors, the ED said in a statement. He was arrested by the EOW, Mumbai Police and is presently under judicial custody, it said. Dalal raised money from invest

Mumbai property registrations rise 11% to 11,628 units in April: Report

Registration of properties in the Mumbai municipal area rose 11 per cent in April to 11,628 units mainly on strong housing demand, according to Knight Frank. In April 2023, the registration of properties in Mumbai stood at 10,514 units. In March 2024, the registration of properties stood at 14,145 units. According to Knight Frank, the registration of properties stood at 11,628 units last month. "The enduring confidence of homebuyers in the Mumbai market has maintained a positive outlook. This optimism has driven Mumbai's property registrations consistently exceeding the 10,000 mark for the fourth consecutive month in 2024," Knight Frank said. Of the overall registered properties, residential units constitute 80 per cent. Shishir Baijal, Chairman & Managing Director, Knight Frank India, said, "The buoyant market conditions have significantly boosted the state treasury, marking its highest-ever revenue collection for April. Property registrations in April have surged, highlighting

ED attaches businessman Raj Kundra's properties worth Rs 97.79 crore

Attached properties include a flat located in Juhu, registered under the name of Kundra's spouse and actress, Shilpa Shetty

Hidden billions in Tokyo real estate market lure activist hedge funds

In Japan, there's a huge gap -22 trn yen ($143 bn) by one estimate - between how firms value their real estate assets on their books, versus what those properties would fetch if sold in current market

Godrej Properties buys land in Hyderabad for Rs 1,300 cr housing project

This is the company's second land acquisition in Hyderabad, which will take the overall booking value potential added in the city to Rs 4,800 crore

Properties in Bengaluru to get digital ownership document: CM Siddaramaiah

The Karnataka government will embark on an ambitious project of digitising property tax records of all 20 lakh properties in Bengaluru and issue digital e-Khata (legal document issued to property owners) from fiscal year 2024-25, Chief Minister Siddaramaiah said in his budget speech on Friday. Noting that the state capital was headed towards a record' tax collection of Rs 4,300 crore in the current fiscal, which is Rs 1000 crore more than 2022-23, Siddaramaiah said the target in 2024-25 will be Rs 6,000 crore. This target of Rs 6,000 crore revenue will be achieved by preventing leakages in the tax collection system, he said. Siddaramaiah said additional non-tax resources of Rs 2,000 crore will be mobilised through revised advertisement policies and premium Floor Area Ratio (FAR) policy from this fiscal year. FAR is a formula based on the building's construction area and total floor area that is usable. The Chief Minister said augmentation of resources, reducing traffic congestion,

AAP govt announces 'anywhere registration' policy for properties in Delhi

Properties in Delhi can be registered at any sub-registrar's office, Revenue Minister Atishi said on Thursday, announcing the 'Anywhere Registration' policy. The policy will save people from long queues for property registration, thus promoting transparency to help curb corruption, she added. Chief Minister Arvind Kejriwal has approved the policy and the file has been sent to the Lt Governor for notification. The Delhi government's Revenue Department has decided to introduce the 'Anywhere Registration' policy, according to a statement issued later in the day. According to the policy, people wanting to register their properties can go to any sub-registrar's office in Delhi. Individuals will not be restricted to a specific sub-registrar's office for property registration, it said. Many complaints about the sub-registrar's office often reach Kejriwal, the statement added. One complaint received is that there are long queues in many sub-registrar's offices. Another complaint that is

Sebi to auction 9 properties of Orion Industries, Rakhal Bharoti cos

Capital markets regulator Sebi on Friday said it will auction nine properties belonging to Orion Industries Ltd and Rakhal Bharoti group of companies to recover investors' money raised by these firms. The nine properties to be auctioned include land parcels located in West Bengal and Jharkhand. The total reserve price of these properties is pegged at around Rs 9 crore, the Securities and Exchange Board of India (Sebi) said in a notice. Inviting bids for the sale of the properties in the recovery proceedings against Orion Industries Ltd and Rakhal Bharoti group of companies, along with their respective promoters and directors, Sebi said the auction will be conducted through online mode on November 20 from 10.30 am to 12.30 pm. Quikr Realty Ltd has been engaged by Sebi to assist it in the e-auction. Of the 9 properties to go under the hammer, seven belong to RB Group of companies, which comprises Rakhal Bharoti Fish and Food Processing Ltd and R B Horticulture and Animal Project Ltd,

InterGlobe Hotels to invest about Rs 550 cr on two new properties by 2025

InterGlobe Hotels will invest around Rs 550 crore to set up two new properties in Mumbai and Bengaluru by 2025, its President and CEO JB Singh said on Thursday. The company -- a 60:40 joint venture between InterGlobe Enterprises Pvt Ltd and Accor Asia Pacific -- opened its new 'ibis Styles' hotel here and plans to open a new property under the 'ibis' brand in Mumbai by the end of next year, followed by the launch of a new hotel under the Novotel brand in Bengaluru early 2025. "This (ibis Styles Vagator) becomes the 23rd ibis (property in India), but as a portfolio, we are at 28 hotels, with this and two to open (which are) under active development. The ibis in Mumbai will open sometime late next year and the Novotel in Bangalore within 2-4 months of that or early 2025," Singh told PTI here. He was responding to a query on the company's expansion plans. When asked about the investments in the two new properties, Singh said, "We will add 207 rooms in Mumbai at an ibis, which will hav

Wadia property may get sold for Rs 5,000 cr in Mumbai's biggest land deal

The 18-acre real estate property in central Mumbai controlled by Nusli Wadia is being sold to Japanese conglomerate Sumitomo in Mumbai's largest land deal by value

Adore Group buys 5.5 acre land in Faridabad for Rs 600 cr housing project

Realty firm Adore Group has bought a 5.5 acre land in Faridabad from the Haryana government for Rs 124 crore to develop a luxury housing project. The company said in a statement on Wednesday that it has "purchased 5.5 acre of land parcel in Sec76 in Faridabad from the Haryana government, following a payment of Rs 124 crore." The company will develop a luxury housing project, comprising 200 units, with an aggregate saleable value of close to Rs 600 crore. The project will be launched in Diwali this year and is slated to be completed in the next four years. "With the new project, we will be primarily focusing on the thriving higher mid-income and premium home buyers & investors in the Faridabad market," said Jetaish Gupta, Founder & Director, Adore Group. He said the demand for housing across all price categories is strong in Faridabad, helped by improvement in infrastructures in the city and better connectivity to Delhi, Noida and Gurugram. Adore was started in 2015 and it has .

Registration of properties in Mumbai set to fall 9-10% annually in July

Registration of properties in Mumbai municipal area is estimated to fall by 9-10 per cent year-on-year in July to more than 10,200 units, according to Knight Frank India. The registration of properties in Mumbai city (area under BMC jurisdiction) has crossed 10,200 units by 7 pm evening on Monday. As many as 11,340 units were registered during July last year. Out of the total registrations, around 82 per cent is housing. The data pertains to both primary (fresh) and secondary (resale) markets. The revenue collection is expected at more than Rs 800 crores for the state government.

Sebi to auction properties of 7 cos on Aug 21 to recover investors' money

Sebi on Tuesday said it will auction 15 properties of seven companies, including Sunheaven Agro India and RaviKiran Realty India, along with that of promoters and directors on August 21 to recover money illegally collected from investors. The other firms whose properties will be auctioned are -- Infocare Infra, Bharat Krishi Samridhi Industries Ltd, GSHP Realtech Ltd, Just-Reliable Projects India Ltd, and Newland Agro Industries Ltd. The properties will be auctioned at a reserve price of Rs 13 crore, according to a public notice issued by the Securities and Exchange Board of India (Sebi). These assets include land parcels and a residential building located in West Bengal. Of the 15 properties, four relate to Bharat Krishi Samriddhi Industries, three each of Just-Reliable Projects India and Newland Agro Industries, two related to Sunheaven and one each of RaviKiran Realty India, Infocare Infra and GSHP Realtech. Inviting bids for the sale of properties in the recovery proceedings .

Andhra govt orders CID to attach Rs 242 cr assets of Margararsi Chit Fund

The Andhra Pradesh government directed the CID to attach the movable properties worth Rs 242 crore of Margadarsi Chit Fund Private Limited (MCFPL), promoted by media baron Ramoji Rao

Properties registration in Mumbai set to fall in this month: Knight Frank

Registration of properties in the Mumbai municipal region is set to fall this month as 9,867 units have been registered so far against 11,743 units in April last year, according to Knight Frank India. Till 12 noon on Friday (April 28), 9,867 properties have been registered. The registration process will continue till late evening, after that there is a holiday for the next two days. The numbers are expected to rise and may cross 10,000 units this month. In April 2022, 11,743 properties were registered in Mumbai City, which is an area under the jurisdiction of Bombay Municipal Corporation (BMC). "The decline was largely led by two reasons, firstly a base effect as April 2022 observed a spillover of registrations from the previous months, with 17 per cent of properties registered in April 2022 were filled in March 2022. Secondly, a seasonality impact as in the last 8 out of 10 years, the month of April witnessed a dip in registrations against the March of that year," Knight Frank sai

Enemy properties: Most Pakistani assets in UP, Chinese in Meghalaya

The government is moving to monetise over 12,000 such properties across the country

44% people want to move into new home in next 2 yrs; 70% plan to buy: CBRE

Nearly 45 per cent of Indian respondents plan to move into a new home over the next two years and most of them, including millennials, want to purchase residential properties instead of renting, according to a survey. Based on the survey, property consultant CBRE India released a report 'Voices from India: How will people live, work and shop in the future?'. The sample size of the global survey was more than 20,000 people, of which 1,500 were from India across age groups -- Gen Z (Age 18-25), Late Millennials (Age 26-33), Early Millennials (Age 34-41), Gen X (Age 42-57) and Baby Boomers (Age 58+). The survey found that respondents display a stronger intention to move to a new home in the next two years (44 per cent as against 31 per cent in the previous two years). This is significantly higher when compared to both global and Asia Pacific (APAC) respondents. "Gen Z led the preference towards moving to a new home in the next two years, compared to only 29 per cent of baby boomers. T

Registration of properties in Mumbai up 7% to 8,694 units in Jan: Report

Registration of properties in Mumbai city rose 7 per cent year-on-year during this month to 8,694 units on better demand, according to Knight Frank India. Property consultant Knight Frank India said that Mumbai city (area under BMC jurisdiction) saw property sales registration of 8,694 units in January 2023, contributing over Rs 658 crore to the state revenues. The registration figure is till 12 noon and will increase slightly by end of the day. Of the total properties registered, 84 per cent were residential while 16 per cent were non-residential properties. The data pertains to transactions in both primary (fresh sales) and secondary (re-sale) markets of all types of properties -- residential, commercial and others. However, the registration of properties fell 7 per cent in January when compared to December, which saw 9,367 units registration. Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, "Despite strong headwinds consumer inclination toward home purc

Sebi to auction properties of 4 firms on Jan 10 to recover investors' money

Markets regulator Sebi on Wednesday said it will auction the properties of four companies, including Infinity Realcon and Sumangal Industries, on January 10 to recover money that was illegally raised by them from investors. Other two firms, whose properties will go under the hammer are GSHP Realtech Ltd and Infocare Infra Ltd, the Securities and Exchange Board of India (Sebi) said in a notice. A total of 25 properties of the four companies will be auctioned at a reserve price totalling Rs 12.2 crore, it noted. Of these properties, 16 belongs to Infinity Realcon, five relates to Sumangal Industries and two each to GSHP Realtech and Infocare Infra. These properties include land parcels, plots, single storied buildings and a flat located in West Bengal. Inviting bids for the sale of properties in the recovery proceedings against the four firms and their promoters or directors, Sebi said the auction will be conducted online on January 10 next year from 10.30 am to 12.30 pm. eProcurem