Market Sources, 2008-09-04
by India Research Team
Delhi, India
REALTY PLAYER
DLF plans to spend 15 percent of its revenue for purchasing land parcels
DLF is planning to spend 15 percent of its revenue on a continuous basis to purchase additional land. The company has formed a land replenishment fund, wherein 15 percent of the sale value of its real estate development is credited, reports The Economic Times.
GOVERNMENT’S DECISION
Haryana Assembly passed the bill for regulating Property dealers in the State
As reported in Business Standard, Haryana legislative assembly on September 2nd, 2008 passed the Haryana Regulation of Property Dealers and Consultants Bill to safeguard the interests of the people using services of property dealers, property consultants and real estate agents.According to this Act, property dealers and their representatives has to mandatorily obtain the license to enter into transactions of sale, purchase, exchange, letting or taking on lease between the buyer and seller, lessor and lessee, landlord and tenant, including the collection of rent in respect of the immovable property with anybody in any manner.
About Colliers International
Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 11,000 employees span the world in 293 offices in 61 countries. On a worldwide basis, Colliers manages 868 million square feet, and has revenue of over USD 2 billion.
Contact Information
India.Research@colliers.com
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