#RealtyNewsRoundup: Unitech Promoters Come Under ED’s Scanner

Promoters of embattled developer Unitech have come under the scanner of the Enforcement Directorate (ED) for alleged siphoning off of Rs 1,600 crore. The ED will scan bank accounts of the directors to see whether this money was siphoned off to foreign countries.

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The Public Works Department (PWD) and the Delhi Metro Rail Corporation (DMRC) plan to develop Delhi’s first common flyover for vehicles and Metro to decongest Mehrauli-Badarpur Road connecting Gurugram with Faridabad via the national capital. Under the project, a triple-deck train-vehicular flyover-underpass would be created to solve traffic woes.

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To promote rainwater harvesting among residents, the Kolkata Municipal Corporation is planning to provide tax benefits to developers and investors who install this water conservation system. 

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Non banking finance company Dewan Housing Finance Limited (DHFL) on July 14 said it might not survive the ongoing financial crisis. The company reported losses of Rs 22.23 billion during the first quarter of the financial year 2019, compared with a profit of Rs 1.34 billion during the same period last year. 

Source: Media reports