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Property News from IndianRealtyNews

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After DLF, CCI Likely to Probe Unitech, Parsvnath & Omaxe

Posted: 19 Aug 2011 08:07 PM PDT

Unitech, Parsvnath Developers and Omaxe are likely to face the Director General (DG) investigation in the next one week. The Competition Commission of India (CCI) is likely to order probe on Unitech, Parsvnath and Omaxe based on preliminary investigations which suggest abuse of dominant power by the developers. Several complaints from residents on late delivery [...]

IT Raids Gurgaon Based Developers M3M’s Offices

Posted: 19 Aug 2011 08:04 PM PDT

A recent raid by income tax sleuths on the offices of a prominent Gurgaon-based realty firm M3M India Ltd yielded Rs 314 crore unaccounted income. Searches, conducted this month, led to the seizure of which revealed many unaccounted transactions for purchase of land and other business activities by the company. This is one of the [...]

DLF to Sell 13 Acre Gurgaon Plot for 300cr

Posted: 19 Aug 2011 07:11 PM PDT

India’s largest developer DLF is selling a 13-acre plot in Gurgaon, Haryana, as part of its plan to ease its debt burden through asset sales. About 1 million square feet of commercial space can be built on the plot, which is expected to fetch Rs 300 crore for the realty firm. DLF is talking to [...]

Omaxe Planning to Invest 600cr on Land Acquisition

Posted: 19 Aug 2011 07:09 PM PDT

Realty firm Omaxe is planning to invest up to Rs 220 crore in the next six months on land acquisition. Meanwhile, the company also targets to cut its gross debt by about Rs 225 crore in this fiscal from Rs 1,477 crore as on June 30. It spent Rs 83 crore on land acquisition in [...]

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