Mumbai-based Phoenix Mills is planning expansion across India by setting up shopping malls ‘Phoenix Market City’ in the major cities like Mumbai, Bangalore and Chennai by March 2012. Recently, Phoenix Market City has opened in Pune with a total investment of Rs 700 crore spread over 30 lakh square feet area in Viman nagar. The company is expecting to generate a revenue of Rs 100 crore from the Pune-based mall.
The development also boasts of one of the biggest multiplexes in the city. At present, the mall has 55 stores that have already started operations, while 155 stores have been handed over for fit outs and it has a capacity of over 300 stores to accommodate. The
A: At this point you most likely have a valid and legally binding contract instead of just an offer.
What happens if you back out will be dictated by the terms of the agreement between you and the seller.
If both parties are in agreement it is possible to change the terms of a written agreement.
You may back out assuming the lien holders have not accepted the offer. In short sales, that usually takes a very long time to get done. You may also back out for other reasons that should be within the purchase contract.
The real estate agent that presented your offer to the sellers should be helping you with this issue.
Real estate developers are setting up prefabrication plants to speed up construction and cut project costs as an acute shortage of labour and a rise in raw material prices threaten to wipe out the industry’s already wafer-thin margins. Between 2009 and 2011, labour costs have risen 50% while prices of raw materials-steel, cement and bricks-have grown 25%, but developers are betting on the use of prefabs, which promise to save a third in construction time and 10-15% in costs over the long run. “This (labour shortage) is impacting delivery of projects and escalating costs,” says Godrej group chairman Adi Godrej.
Home to one of the largest Fourth of July celebrations in the country, Boston has some amazing real estate where people can enjoy the festivities.
While it may be a little late to close on these properties in time for this year’s celebration, we’ve picked a few prime spots that offer front-row seats to events leading up to the Fourth.
The Residences at Rowes Wharf just turned 20 years old but continues to be one of the most sought-after addresses in the city. Con
A: Yes, this can be done. Parents may give gifts to children in the form of a home and the parents may be foreign citizens. In fact, foreign citizens may own property too.
This scenario raises a lot of tax implication questions and even some Visa thoughts as well. A CPAs advice should be sought as well.
There may be a twist in it too if you are here on a Visa versus being a US citizen or legal resident.
The Reserve Bank of India has laid out strict and tedious due diligence standards for banks in sanctioning loans to the real estate sector after inspections found that most frauds were due to document forgeries even after certified by lawyers and chartered accountants. The central bank has said banks should leave no stone unturned to verify the documents, including cross verification with the local administration, to ensure that frauds are eliminated. “In case of loan against the security of land, banks may also seek reports from local revenue authorities regarding the title deeds before sanction of loan,” RBI said in a notice to the chairmen and chief executives of banks. “Wh
HARTFORD, Conn. — Nearly three dozen states have rejected requirements that sprinkler systems be installed in homes.
That’s according to the National Association of Home Builders, which says 34 states have enacted legislation or rules prohibiting mandatory installation.
The home builders group says only California and Maryland have adopted codes requiring installation of home sprinklers.
An organization of building inspectors, fire officials and others who set building standards recommended in 2009 that states and municipalities adopt codes requiring sprinkler systems in homes and many townhouses. The regulations took effect Jan. 1.<
A:am not sure what the contract stipulates. Many real estate companies will not release a listing. Some will for good will. You would have to speak with your agent.
A: While a listing agreement is a legally binding contract, and while I would advise you to consult with a real estate attorney, I am of the opinion that you should be able to withdraw or terminate the listing without problem. Any REALTOR worth their salt will understand. Theres not much point in making a legal issue of it, especially with two weeks left. The agent most likely will hope to get the listing again if and when the owner wants to sell the home again.
Hotel Leelaventure, which operates luxury hotels and resorts under The Leela brand, has put the launch of its proposed mid-scale hotel brand on the backburner. The mid-scale brand Leela Gardens was to be positioned as a three-star property. “We had planned to go to tier II cities with this product. We will go for it after a few years. Right now we plan to reduce our capital expenditure and consolidate,” Vivek Nair, vice-chairman and MD, Hotel Leelaventure, told Financial Chronicle.
In April 2011, Capt CP Krishnan Nair, chairman of Hotel Leelaventure, had expressed the desire to enter the mid-market segment by setting up 30-40 room hotels in pilgrimage spots. Cap