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A court here has directed the Delhi police to register two FIRs against a real estate firm and their directors for allegedly duping investors. Metropolitan Magistrate Yashdeep Chahal passed the order saying that the allegations are of a nature that warrant an investigation by the police/state agency. The judge directed police to lodge two FIRs against builder firm - ISH Realtors Pvt. Ltd. and it's directors for allegedly committing the offences of criminal conspiracy, criminal breach of trust, fraud, cheating and criminal Intimidation. The facts of the complaint reveal that the controversy is not entirely based upon documents and some investigation is warranted in this matter to unearth the truth of the allegations. Moreover, the complainant is not in a position to establish his case without the aid of police investigation, the judge said. He said the complaint as well as the documents on record revealed prima facie commission of cognizable offences. In the light of these facts it
Home buyers of a housing project of Raheja Developers on Saturday staged a protest outside the company's office here over delayed deliveries of their flats. Home buyers were demanding that the builder should either hand over the houses or refund the money. They alleged that buyers of the Raheja Revanta Project at Sector 78 are awaiting for the last five years for the delivery of their homes. The buyers alleged that even after taking 90 per cent of the money for the flat, they were being misled in the name of completing the project. The local police had also reached the spot. Arjun, the president of the association of Raheja Revanta Society, said the builder sold the flats in the name of the tallest project of Delhi NCR and Haryana. They bought flats for Rs 1 crore to Rs 5 crore. After discussions with builder Nayan Raheja, buyers and the developer agreed to hold a meeting every three months. A spokesperson of Raheja Developers in a statement said that they are aggressively taking
Real estate developers are aggressively looking to expand their business with revival in demand, resulting in a sharp rise in the number of land deals which jumped over three-fold to 68 across eight major cities during January-September this year, according to property consultant Anarock. Anarock has compiled the land transactions, which include both outright purchases by developers and also joint development agreements (JDAs). At least 68 separate land deals, accounting for 1,656 acres, were closed in the first nine months of 2022 across top eight cities, as against just 20 land deals for 925 acres in the corresponding period of last year, it said. Out of the 68 deals in January-September period of 2022, as many as nine were either JDAs or on revenue sharing basis. The remaining deals were outright purchase. Land, the most precious finite resource amid rapid urbanisation, has been seeing increased action after the COVID-19 pandemic, Anarock noted. To encash the surge in housing .
Realty firm Casagrand has unveiled an independent residential construction venture -- 'CASAGRAND PERCH', and announced plans to build 500 homes over the next three years under the new initiative. CASAGRAND Perch would be involved in designing of the residential units for customers who own a minimum of 1,500 sq ft land, while keeping in mind the concepts of light, ventilation, privacy and 'vaastu,' a company official said on Wednesday. "Through this venture, we will build an individual home by following the same standards of CASAGRAND. People usually reach out to unorganised players to build their homes and there are times when they are not satisfied with the outcome." CASAGRAND founder-managing director Arun Mn noted. "CASAGRAND Perch has been conceptualised as a venture that will professionally take care of the end-to-end requirements of home building.. at this moment, we will build houses in Chennai, Bengaluru and Coimbatore. We aim to build 500 houses under CASAGRAND Perch in 3 .