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November 11, 2016 / 0 comments

SBI Beats Infosys And HDFC To Become Sixth Most Valuable Firm – Livemint – 11-Nov-2016

November 11, 2016 / 0 comments

State Bank of India, the country’s largest lender, beat software exporter Infosys Ltd and mortgage lender Housing Development Finance Corp Ltd (HDFC) on Thursday to become India’s sixth most valuable company. State Bank’s market value rose to Rs2.19 trillion after its shares jumped more than 8.4%, their best percentage gain in eight months, to close…

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Realty Sector Awaits GST Clarity, Pins Hopes On Lower Tax Slab – The Hindu Business Line – 11-Nov-2016

November 11, 2016 / 0 comments

Pinning hopes on a lower tax slab of 12 per cent, the real estate industry is awaiting clarity on the GST regime, according to JLL India, a real estate consultancy firm. Following the recent statements made by Finance Minister Arun Jaitley, Anuj Puri, Chairman and Country Head, JLL (Jones Lang Lasalle)-India, felt that the highest…

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Housing Finance Cos May Be Hit – The Economic Times – 11-Nov-2016

November 11, 2016 / 0 comments

The attack on black money will have some unintended consequences on the sector that’s been on a roar — housing finance companies. Some of these companies which have been active in lending for business or consumption with homes as collateral are in for a shock if real estate prices tumble. Stagnant real estate prices which…

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GMC Allots Land For Construction Of New STP – Times of India – 11-Nov-2016

November 11, 2016 / 0 comments

The GMC approved a proposal to allot four acres of land for a new sewage treatment plant in the city during a meeting of its board members on Thursday. The plot of land has been identified in Noor Nagar near the NH-58 bypass road. The land will be handed over to UP Jal Nagam, which…

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Withdrawal Of Rs 500 And Rs 1,000 Notes To Hit Real Estate the Worst – Livemint – 10-Nov-2016

November 10, 2016 / 0 comments

If one thought it cannot get any worse for real estate companies, it just did. The move to take existing high-value currency notes out of circulation is likely to hit real estate companies the worst. The sector is known to be a safe haven for converting stock of black money into white, especially in high-value…

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Taking A Hammer To ‘Black’ Realty Deals – The Hindu Business Line – 10-Nov-2016

November 10, 2016 / 0 comments

Rahul Kumar has just sold his house in Noida in a typical, 60 per cent ‘white’ and 40 per cent ‘black’ deal prevalent in the market. However, sellers like Kumar are tensed due to the banning of ₹1,000 and ₹500 notes, which are typically used in such deals. The decision will have an adverse impact…

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SC; Can CBI Probe All 76 FIRs In Pearl Scam? – Times of India – 10-Nov-2016

November 10, 2016 / 0 comments

The Supreme Court asked the CBI on Wednesday to examine whether it could investigate all 76 FIRs lodged against Nirmal Singh Bhangoo-headed Pearl group of companies in different states in connection with a Rs 45,000 crore land development scam. One of the arrested directors of Pearl group had requested amalgamation of all the 76 FIRs…

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Room For 25% Cut In Home Prices – Business Standard – 10-Nov-2016

November 10, 2016 / 0 comments

Coming at a time when property sales have been experiencing a slowdown, the ban of Rs 500 and Rs 1,000 notes could further bring down home prices by 20-25 per cent, say realty consultants and investors Business Standard spoke to.   “There will be liquidity crunch in property markets because so much cash is going…

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