Real Estate News Update for February 09
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Industry
AHMEDABAD: Ahmedabad-based real estate developer Shivalik Group has received regulatory approval from Securities and Exchange Board of India (Sebi) for its first fund- Shivalik Investment Fund as a Category II AIF (Alternative Investment Fund).
Regulatory
A bench of acting Chief Justice Manmohan and Justice Manmeet PS Arora also hinted at ordering a CBI probe to investigate lapses by all authorities in stopping unauthorised construction near centrally-protected monuments Nizamuddin ki Baoli and Barakhamba Tomb.
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Infrastructure
Two illegal colonies, which were carved out on over 12 acres without the approval of competent authorities and in violation of Haryana Urban Development Act, 1975, were demolished in IMT Manesar on Thursday in presence of police personnel.
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Cement
NEW DELHI: Aditya Birla Group firm Grasim Industries Ltd on Thursday reported a 41.5 per cent decline in consolidated net profit to Rs 2,603.43 crore for the third quarter ended on December 2023. The company had posted a net profit of Rs 4,454.59 crore during the October-December quarter a year ago, Grasim Industries said in a regulatory filing.
Industry
KOLKATA: The state has offered concessions in stamp duty for property transfers within the family by way of gift. “As per the current rules, the stamp duty payable on any transfer of property through gift within the family is at the rate of 0.5% of the value of the property.
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