Property News from IndianRealtyNews

Property News from IndianRealtyNews

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Hotel Industry Occupancy to Rise amidst Corporate Demand and Upcoming Cricket World Cup

Posted: 09 Feb 2011 01:49 AM PST

Marriott International expects occupancy across properties in India to be over 80 per cent compared with mid-70 per cent levels a year ago, as demand for rooms rise on higher corporate demand and the World Cup. “February is a very strong month for the hotel industry predominantly driven by strong corporate demand. On top of [...]

Property Firm Ansal Reports 4.81% Hike in Consolidated Net Profit

Posted: 09 Feb 2011 01:44 AM PST

Realty firm Ansal Properties and Infrastructure has reported 4.81 per cent jump in its consolidated net profit for the quarter ended December 31, 2010, at Rs 32.93 crore. The company had posted a net profit of Rs 31.42 crore in the corresponding period previous year, Ansal API said in a statement. The consolidated total revenue [...]

DB Realty Group MD Arrested for his Role in 2G Scam

Posted: 09 Feb 2011 01:42 AM PST

The CBI on Tuesday night arrested Dynamix Balwas (DB) group managing director Shahid Usman Balwa in connection with the 2G spectrum allocation scam. "We have arrested Shahid Balwa for his role in the 2G scam. He is alleged to be involved in receiving and channelling money for Raja," said CBI spokesperson Binita Thakur, adding that [...]

Property Sale Ban on 567 Regularised, Unauthorised Delhi Colonies Lifted

Posted: 09 Feb 2011 01:39 AM PST

Thousands of residents at regularised, unauthorised colonies across Delhi will now be able to officially sell their property, with a ban on the registry of real estate transactions in the areas about to be lifted soon. Revenue officials said an office order allowing registration in these colonies is in the works, more than three years [...]

Healthcare Major ‘Fortis’ Plans to Transfer Land Assts to REIT

Posted: 09 Feb 2011 01:33 AM PST

The country's second-largest hospital chain operator Fortis Healthcare Ltd is evaluating a plan to transfer its land assets to a real estate investment trust (REIT) that will in turn raise funds for expansion, a top company official said. Although it has not decided the quantum of money to be raised by the REIT or the [...]

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