APIIC Emaar case: ED takes possession of attached land
Sep 14, 2013
Source : The Economic Times


HYDERABAD: Enforcement Directorate (ED), which is investigating the controversial land deal between Andhra Pradesh agency APIIC and Dubai-based Emaar for a realty project, today said it has taken possession of the land as part of proceedings into the case.

The land, measuring 25,810 sq yard, belongs to Emaar Hills Township Pvt Ltd.

The agency had provisionally attached the property in September 2012 under the Prevention of Money Laundering Act. The attachment was later confirmed by the Adjudicating Authority of PMLA.

ED took possession of as many as 19 plots located at Boulder Hills Community near here, the Central agency said in a release.

The case relates to alleged irregularities in transfer of land and sale of villas and apartments in a township (Emaar Hills) jointly developed here by state-run Andhra Pradesh Industrial Infrastructure Corporation (APIIC) and the Dubai- based infrastructure firm.

"As result, the entire concerned are hereby prohibited and restrained from transferring or charging the above said properties by sale, gift, mortgage, pledge or otherwise in any manner whatsoever and all persons are restrained from receiving the same in manner," the ED release said.

Under PMLA, ED is authorised to take actions of attachment and confiscation of property if the same is determined to be proceeds of crime derived from offences listed under the legislation.


Latest Realty News

Andhra Pradesh Housing Board housing projects evoke poor response
Sep 13, 2013
HYDERABAD: Uncertainty over the status of Hyderabad seems to be casting a shadow on ambitious housing projects taken up by the Andhra Pradesh Housing Board (APHB).
GHMC plans road to please realtors
Sep 11, 2013
HYDERABAD: Bowing to the pressure from builders and land owners, Greater Hyderabad Municipal Corporation (GHMC) officials are said to be actively considering construction of a link road from Navayuga SEZ, opposite the West Zone of GHMC, to Chandanagar railway station in Serilingampally, at an estimated cost of Rs 17.10 crore.
Hyderabad's realty sector set for recovery
Sep 06, 2013
HYDERABAD: The spiraling rate of the dollar coupled with modest pricing is likely to attract NRI investment to the city's real estate sector in the near future, said representatives from the industry on Thursday.
‘NHB data on Hyderabad realty do not reflect ground situation’
Sep 06, 2013
HYDERABAD: The Confederation of Real Estate Developers’ Associations of India (Credai) today said that the recent report by the National Housing Bank on real estate price fall of about 4.5 per cent in Hyderabad does not reflect the actual situation.
AMC plans to build 10,000 additional houses
Sep 03, 2013
AHMADABAD: Urban local bodies across the state are now demanding faster turn-key systems and construction technologies to deliver affordable houses in bulk and in a time-bound manner over the next five years. A seminar on ‘New Construction technology for affodacle housing‘ was organized at the Ahmedabad Management Association (AMA). The seminar was hosted by Ahmedabad Municipal Corporation (AMC).
Integrated building approvals to check graft in Hyderabad
Sep 02, 2013
HYDERABAD: In a bid to bring in transparency, avoid delays and check corruption, the Greater Hyderabad Municipal Corporation (GHMC) has decided to integrate online building approvals with occupancy certificates and property tax assessment.
Realty prices push schools to outskirts of Ahmedabad
Sep 02, 2013
AHMEDABAD: Real estate prices are pushing schools outside the AMC limits. From Bopal to Vaishnodevi Circle, several schools are springing up to cater to the increasing urbanization.
SMR Holdings to invest Rs 1,000 crore in satellite township project
Aug 30, 2013
HYDERABAD:Real estate company, SMR Holdings today announced the launch of a satellite township project close to the IT hub of Hyderabad.
Credai study to assess demand-supply scenario at Hyderabad
Aug 30, 2013
HYDERABAD: The Confederation of Real Estate Developers’ Associations of India (Credai) Andhra Pradesh Chapter is commissioning a study to assess the demand-supply situation in the real estate sector in the rapidly expanding metropolis of Hyderabad.
‘Curbs on property investment abroad may boost premium segment in India’
Aug 17, 2013
HYDERABAD: RBI curbs on overseas property investments to protect the rupee seems to be good news for Indian real estate as capital which otherwise would have been diverted abroad will now stay in the country.

Latest Realty News Of State

Realty Talk's