Real Estate News Update for August 29
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The Chapter, a luxury holiday home developer backed by Nadir Godrej, Anand Piramal and Dabur India’s Burman family, is planning to invest over Rs 850 crore to develop luxury villas across key leisure destinations in India, said top company executives.
Godrej Enterprises Group (GEG) is looking to infuse about Rs 4,000 crore into its businesses as it aims to streamline 14 verticals besides unlocking value, especially in its vast real estate holdings, said executive director Nyrika Holkar.
The Bombay High Court on Wednesday granted bail to Pune-based builder Avinash Bhosale in a money-laundering case, noting that at the end of the trial he may not be found guilty of the offence he is being prosecuted for.
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The Madhya Pradesh Economic Offences Wing (EOW) has initiated a preliminary inquiry to probe an alleged complaint of corruption, misuse of official position and regulatory violations against A P Srivastava, the chairman of the Madhya Pradesh Real Estate Regulatory Authority (RERA).
Once the absolute sale deed has been duly executed and stamped, the agreement of sale should no longer be independently subjected to stamp duty as it has merged into the absolute sale deed, the high court observed in a recent judgment.
The Union Cabinet on Wednesday approved 12 new industrial cities in 10 states to boost domestic manufacturing with an estimated investment of Rs 28,602 crore.
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