While I was searching for a decent property in the outskirts of lucknow city I came across the market reputation of the company…..and to my surprise it was worse than I could even dream of. Then I contacted one of my relative who is also big player in lucknow real estate market and he told …
never Consider Buying a Property in Lucknow, India Read More »
LUCKNOW: An Indira Nagar-based private firm has been accused of duping investors under the pretext of offering them real estate at reasonable rates. Takrohi resident approached Ghazipur police station on Monday to lodge a complaint against the firm. The office of the firm is located off Faizabad road near Sanjay Gandhi Puram and it had …
UP real estate regulator says firm diverted over Rs 600 crore out of a total investment of Rs 2,400 crore. UP-Rera of no help. Lucknow: Real estate giant Ansal API, entrusted with around 90 projects in Uttar Pradesh, now finds itself under the scanner for alleged fraud, criminal breach of trust and diversion of funds. The …
Fraud, diversion of funds: Real estate giant Ansal API under the scanner in UP Read More »
LUCKNOW: The managing director of a real estate company was arrested on Monday and three of his co-owners booked under the Gangster Act for allegedly cheating buyers from whom they took advance, but never handed over possession of flats. As many as 24 cases are lodged against the four in different police stations of the …
A combination of government reforms, falling demand, and bad loans is hurting India’s real estate sector. If you live in one of the big cities, or even if you have merely visited any of these big cities, one thing that will leave an impression on you is the sheer volume of construction that is happening. …
The pressure to finish comes from the markets: Of the $14.6 billion the builder has to pay creditors between now and 2021, as much as 86 percent is return of principal. Five months. That’s how long it takes Country Garden Holdings Co. to start selling apartments after acquiring land. A spate of fatal accidents forced …
Since 2009, when the Sahara Group’s activities first came under the radar of SEBI leading up to the arrest of Sahara India Pariwar founder Subrata Roy in 2014, both parties have been engaged in an aggressive regulatory conflict. SEBI alleged that Sahara India Real Estate Corp Ltd (SIRECL) and Sahara Housing Investment Corp Ltd (SHICL), …
Corporate Fraud in India – Case Studies of Sahara Read More »
Not a day goes without reading about fraud in Lucknow, India. In her FIR, the complainant has accused Ansal API of accepting over Rs 30 lakhs through cheques for booking a 240 square metre plot in its Sushant Golf City project on Shaheed Path in Lucknow. However, the plot has not been given to the …
Another FIR filed against Ansal Group in Lucknow for fraud, criminal breach of trust Read More »
India might have thought the worst of a bad loans crisis was past, but a severe cash crunch in the real estate industry could augur fresh strife for its banks. A slump in the residential property market is leaving many builders struggling to repay loans to shadow lenders – housing finance firms outside the regular …
Indian property slump leaves beleaguered banks exposed Read More »
The proposed real estate law cleans up parts of the corruption chain. And it leaves several parts untouched. Hidden charges, delivery delays, broken promises, vanishing builders…Such frustrating, black episodes while making what is, arguably, the purchase of a lifetime for most people would have been history had an obvious piece of legislation come through. Instead, …
How to fix corruption issues in India’s real estate sector Read More »
