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economy
SC orders forensic audit of Unitech over fund diversions

NEW DELHI: After Amrapali, the Supreme Court on Friday directed forensic audit of another real estate giant Unitech and its subsidiary companies to probe alleged financial irregularities and diversion of home-buyers’ funds by its promoters and directors, which led to the company failing to complete housing projects. Unitech Group is involved in construction of 74…

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economy
Salarpuria buys property from Schneider for Rs 100 crore

File photo Real estate firm Salarpuria Sattva has bought French multinational Schneider Electric’s eight lakh sq ft commercial property for over Rs 100 crore.“The agreement has been signed and the money has been exchanged amongst the two parties. The property was being used for many years by Schneider before they decided to divest it,” said…

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economy
Gurugram: 19 affordable housing projects get government’s approval

GURUGRAM: The department of town and country planning (DTCP) has issued licences for 19 new affordable housing projects, which are likely to be launched in Gurugram soon on land released as part of the increased allotment for affordable housing. It follows the rise in demand for affordable housing, bucking the slow recovery of the real…

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economy
Nagpur civic body to provide land for rehabilitation of PAPs of four markets

NAGPUR: The Nagpur Municipal Corporation (NMCAs per the memorandum of understanding (MoU) signed between it and MahaMetro for development of these markets, land required for temporary relocation of existing licensed shopkeepers will have to be provided by the NMC. However, MahaMetro shall be primarily responsible for their relocation. The MoU states that cost of shifting,…

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