Builders of Odisha fear that the real estate market may become crushed as news about real estate scams came out. Odisha Real Estate has determined to wash off the stain away and with this purpose CREDAI- Odisha Chapter has appointed a scrutiny- committee to check out the membership applications.
Will Odisha real estate be able to acquire the trust of home- buyers?
Once the news came out as businessman Tirupati Panigrahi was arrested along with two associates of him, the real estate players in the state is cautious as the real estate scam may adversely hit housing market.
Businessman Tirupati Panigrahi and two associates of him were recently arrested for real estate scam. The real estate builders fears that the real estate scam news will hit the real estate sector adversely. The sale of housing –units will be all the more affected. Continue reading
AP State Wakf Board (SWB) plans to sue a real estate firm for damaging its property. Wakf Board officials told that a real estate firm has encroached upon some of Wakf properties in Lakdi-ka-pul.
Real estate firm faces sue from the Wakf board.
The base of the case begins with GHMC (Greater Hyderabad Municipal Corporation) sanctioning a real estate firm to construct a commercial structure near Mumtaz Mansion in Lakdi-ka-pul. The GHMC sanction of a G+4 commercial building was granted to an extent of 2125 sq. m.
The real estate builder soon started foundation works at the site. Later it came to light that some graves were damaged while foundation works were going on. This was reported to the chief minister as well. Continue reading
Haryana Chief Minister Bhupinder Singh Hooda’s close relatives have acquired a large number of real estate properties in the state. Many of these real estate dealings point to politicians deep relations with the real estate giants.
Bhupinder Singh Hooda’s son-in-law prepares to play a game of brain in the real estate sector.
Haryana, being a fertile land for real estate, is always sought after by the real estate builders. Many relatives of Haryana Chief Minister Bhupinder Singh Hooda run companies in the state.
Havelock Developers Pvt Ltd is one among the many. It came in to life in 2007 as a fully owned sub-firm of Unitech builders. Havelock obtained land parcels in many parts of Gurgaon. The firm own land parcels in Gurgaon’s Fazilpur and Badshahpur areas.
Havelock obtained unsecured loans of Rs.6.7 Cr from Unitech, one of the largest real estate builders of the company. Well before the loan tenure came to end in March 31, 2008, Havelock’s ownerships were transferred to Anjali and Kunal Bhadoo, Haryana Chief Minister Bhupinder Singh Hooda’s daughter and son-in-law. The transfer took place in September. Continue reading