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Where will black money hide now? Modi has shrunk illicit money’s pit; real estate transparency jumps – The Financial Express

Narendra Modi government’s reforms have shrunk one of the biggest pits of black money in India — the country’s real estate sector has become more transparent, climbing up five places in a global ranking in the last six years. With the amendment in the Prevention of Money Laundering Act (PMLA), transparency in India’s real estate…

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India ranks 34 on Global Real Estate Transparency Index
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India ranks 34 on Global Real Estate Transparency Index

GRETI), an acknowledgement by global investors of the efficacy of reforms unleashed by the Narendra Modi government, clean market data and enhanced sustainability initiatives. In 2014, India had ranked 39 on the index. Since then, the government has implemented the landmark Real Estate (Regulation and Development) Act, 2016 and Benami Transactions (Prohibition) Amendment Act, 2016.…

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Godrej Properties inks development pact for prime 5-acre plot in Worli
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Godrej Properties inks development pact for prime 5-acre plot in Worli

MUMBAI: Godrej Properties has entered into an agreement with realty developer Akshaya Sthapatya (ASPL) to jointly develop a 1.1 million sq ft residential project at Worli, Mumbai, two people aware of the development said. The big-ticket, sea-view project is the first such deal in the country since the Covid-19-led lockdown disrupted work and demand in…

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