Enforcement Directorate arrests WTC Group promoter Ashish Bhalla over alleged fraud involving Rs 3,000 crore in Faridabad real estate projects, diverting funds to shell companies and foreign entities. Hundreds of investors duped through promised but undelivered plots in Sectors 111-114, indicating massive financial misuse. ED custody granted for interrogation.
JLL reports 56 Joint Development Agreements (JDAs) signed between landowners & developers in India, covering 1,546 acres, with 97% for residential projects, from Jan 2023 to Jun 2024.
Parsvnath Developers plans to invest up to Rs 500 crore for land acquisitions in FY 2009, focusing on integrated townships. The realtor added 66 acres of land in the latest quarter and has completed land acquisition for 8 SEZ sites. Parsvnath is also in advanced talks to sell stake in its SEZ projects and plans to build hotels and open retail stores during the current fiscal.