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Sayaji Hotels Ltd to Invest Rs100 Crores in Pune; Plans to Expand Operations

Posted: 27 Apr 2011 10:12 PM PDT

On completion of two years in Pune, Sayaji Hotels Ltd is planning to invest Rs 100 crore in Pune. The group is planning to expand its operations with a sports and cultural club, restaurant, mall, convention and conference facilities and serviced apartments. "This expansion will be completed by September 2012 with a total investment of [...]

India’s Real Estate Stocks May Recover Soon

Posted: 27 Apr 2011 09:21 PM PDT

India’s real estate stocks have attractive valuations after plunging 83% from their peak and are likely to rebound within two years, according to Macquarie Group. India’s real estate industry is grappling with rising borrowing costs, shrinking access to credit and a decline in demand as record prices make homes unaffordable. The Bombay Stock Exchange’s 14-stock [...]

ED to Attach Properties of Unitech and Swan: Companies Allegedly Involved in 2G Scam

Posted: 27 Apr 2011 08:09 PM PDT

The Enforcement Directorate (ED) has told the Supreme Court that it will ‘attach’ the properties of two companies - Unitech wireless and Swan Telecom - allegedly involved in 2G scam within 2 months. At 10:08 am, shares of Unitech were trading 4.45% down at Rs 38.65 and shares of DB Realty were trading 4.07% down [...]

Real Estate Developer Rakindo to invest Rs 300-400 crore in Various Coimbatore Projects

Posted: 26 Apr 2011 09:40 PM PDT

Rakindo Developers Pvt Ltd, the real estate master planner and developer, has plans to invest about Rs 300-400 crore in this fiscal (2011-2012) across various real estate developments, at its Kovai Hills project in Coimbatore. The investment entails the development of a golf course, a golf academy, a sports complex, a club-house and few residential [...]

Chhattisgarh Developers to Follow CREDAI Code of Conduct

Posted: 26 Apr 2011 08:39 PM PDT

Real estate developers in Chhattisgarh will follow code of conduct to ensure transparency in the dealings of the sector. "The sector has been under the scanner of consumer and the real estate developers across the country are on a mission–transparency' and hope to achieve it through the code of conduct formulated," Confederation of Real Estate [...]

MAT to Affect 1 lakh crore SEZ proposals in Gujarat

Posted: 26 Apr 2011 07:32 PM PDT

The Government of India’s (GoI) decision to impose a minimum alternative tax (MAT) of 18.5 per cent on income of units operating within special economic zones (SEZs) is all set to adversely affect Gujarat’s 50-odd SEZ proposals at various stages of implementation. Well-placed industries department sources say that with MAT in place, proposals made in [...]

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