Real Estate News Update for April 18
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Regulatory
Indiabulls Housing Finance has requested a review of the Supreme Court's February order, which allegedly expanded the Enforcement Directorate's powers beyond the PMLA law's mandate and conflicted with the Vijay Madanlal Choudhary vs Un-ion of India case.
Cement
NEW DELHI: Billionaire Gautam Adani's family infused an additional Rs 8,339 crore in Ambuja Cements, raising its stake in the company to 70.3 per cent, to help the cement maker's manufacturing capacity.
Industry
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) granted relief to DLF Urban Pvt Ltd by rejecting the addition of ?328 crore to the company's income for the assessment year 2016-17. It also said in a recent order that for the valuation of the property, the market value determined by real estate services firm Cushman and Wakefield was a more appropriate method of valuation of market price than the circle rates.
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Regulatory
NEW DELHI: Taking exception to National Consumer Disputes Redressal Commission's order issuing non-bailable warrant against directors of a real estate company who were given interim protection by it, Supreme Court has issued notice to two members of the commission who passed the order and sought explanation from them.
Industry
BENGALURU: Ajit Isaac, managing director of Quess Corp bought a 10,000 sq ft plot in Koramangala's third block, also referred to as 'Billionaire Lane', for ?67.5 crore in the most-expensive real estate deal ever in Bengaluru.
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