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India Today
a day ago
- Business
- India Today
Are Indian homebuyers growing wealth or buying liabilities? Explains consultant
Many Indian families dream of owning a house, but what if buying a home is actually stopping them from growing real wealth? Real-estate consultant Aishwaraya shri Kapoor explains why India's middle class is falling behind while the top 5% keep multiplying their money.'Most Indian homebuyers aren't building wealth. They're buying liabilities,' Kapoor wrote, pointing out that costs like stamp duty, GST, registration, and pre-EMI can eat up over Rs 50 lakh even before a Rs 2 crore property starts to gain value. advertisementWHY THE MIDDLE CLASS LOSESKapoor says the middle class often believes that once they get possession of a house, they're making progress. But she warns, 'Most believe possession equals progress. It doesn't.'Many people end up with what she calls 'dead capital,' money locked away that doesn't grow fast THE WEALTHY PLAY IT DIFFERENTLYSo how do India's richest keep winning? Kapoor says they follow what she calls the Value Mogration Model. Instead of waiting for years to get the keys, they buy early, exit before the crowd, and reinvest wisely. 'The Top 5% Think Differently. They don't wait for handover. They rotate capital,' Kapoor explains. According to her, the smart ones enter early at around Rs 12–14K per square foot, exit fast when rates touch Rs 18–20K per square foot, Reinvest in better assets like shop-cum-offices (SCOs), branded spaces, or rented floors and repeat every 2–3 years to keep returns above 25%Kapoor added that early investors in DLF made Rs 3–4 crore before they even got possession of their flats. But those who bought late were stuck with fewer gains and less flexibility. 'Same project. Different capital IQ,' she VS STRATEGYSo where does the middle class go wrong? Kapoor believes they buy homes with their hearts, not their heads. 'They buy for emotion. The wealthy buy for timing, exit, and rotation,' she concluded her post by saying, 'Ownership isn't outcome. Real wealth in real estate is engineered — not inherited, not imagined. It's time India's buyers start behaving like investors.'- Ends
Time of India
2 days ago
- Business
- Time of India
DLF exits Rs 10,000-cr SoBo project through settlement with Hubtown
Hubtown and DLF have resolved their long-standing dispute over the Rs 10,000 crore Tulsiwadi redevelopment project in south Mumbai. DLF has exited the project after receiving Rs 800 crore from Hubtown, ending years of litigation. Hubtown has mortgaged space in the project to secure the remaining payment, paving the way for project execution. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Realty developers Hubtown and DLF have settled their long-running dispute over one of south Mumbai's most high-profile redevelopment projects, spread over 17 acres and valued at over Rs 10,000 crore, through consent terms including Rs 800 crore payment to the latter, said people with direct knowledge of the part of this arrangement, DLF has exited the Tulsiwadi urban renewal project next to the Willingdon Club in Tardeo, bringing an end to years of litigation and clearing the way for the project to move has formally withdrawn all its litigations against Hubtown , Twenty-Five Downtown Realty (formerly Joyous Housing), PNB Housing Finance and others under these consent terms agreed upon last return, Twenty-Five Downtown, an entity affiliated with Hubtown, will pay DLF Rs 800 crore over the next two years. As part of the agreement, Rs 100 crore has already been paid as the first has mortgaged 150,000 sq ft of space in the proposed project in favour of DLF as security for the balance payment of Rs 700 crore, documents registered last week show. ET has reviewed the indenture of had announced the arrangement in an earlier filing, but did not specify the total settlement and Shapoorji Pallonji Group's Chinsha Property held 37.5% stake each in the SPV formed to redevelop the Tulsiwadi slum cluster, alongside Hubtown's 25%. The project ran into financial and legal issues after a Rs 900-crore loan from PNB Housing Finance turned non-performing in the default, PNB Housing Finance invoked pledged shares of Chinsha and DLF, selling them to recover its exposure. The loan was taken over by Omkara Asset Reconstruction Company. The share transfer and pledge invocation triggered allegations from original shareholders, especially DLF, over wrongful ouster and shareholder rights' Chinsha had accepted its exit and withdrawn all allegations, DLF pursued legal challenges through arbitration, NCLT proceedings and RERA complaints. The current settlement brings all these disputes to a close.A DLF spokesperson confirmed the settlement and the related mortgage of 1.5 lakh sq ft in the project, while ET's email query to Hubtown remained Tulsiwadi redevelopment , located in a prime pocket of Tardeo and adjoining the Willingdon Golf Course, is among the largest urban renewal projects in south SPV has already registered three residential towers with RERA and secured funding from Oaktree Capital to support project development. With this legal resolution in place, Hubtown can now focus on executing the project without the uncertainty of shareholder observers believe this settlement signals a broader trend in India's real estate sector, where structured financial settlements backed by real estate assets are increasingly being favoured over prolonged legal battles.
Economic Times
2 days ago
- Business
- Economic Times
DLF exits Rs 10,000-cr SoBo project through settlement with Hubtown
Realty developers Hubtown and DLF have settled their long-running dispute over one of south Mumbai's most high-profile redevelopment projects, spread over 17 acres and valued at over Rs 10,000 crore, through consent terms including Rs 800 crore payment to the latter, said people with direct knowledge of the development. As part of this arrangement, DLF has exited the Tulsiwadi urban renewal project next to the Willingdon Club in Tardeo, bringing an end to years of litigation and clearing the way for the project to move forward. DLF has formally withdrawn all its litigations against Hubtown, Twenty-Five Downtown Realty (formerly Joyous Housing), PNB Housing Finance and others under these consent terms agreed upon last return, Twenty-Five Downtown, an entity affiliated with Hubtown, will pay DLF Rs 800 crore over the next two years. As part of the agreement, Rs 100 crore has already been paid as the first has mortgaged 150,000 sq ft of space in the proposed project in favour of DLF as security for the balance payment of Rs 700 crore, documents registered last week show. ET has reviewed the indenture of mortgage. DLF had announced the arrangement in an earlier filing, but did not specify the total settlement and Shapoorji Pallonji Group's Chinsha Property held 37.5% stake each in the SPV formed to redevelop the Tulsiwadi slum cluster, alongside Hubtown's 25%. The project ran into financial and legal issues after a Rs 900-crore loan from PNB Housing Finance turned non-performing in the default, PNB Housing Finance invoked pledged shares of Chinsha and DLF, selling them to recover its exposure. The loan was taken over by Omkara Asset Reconstruction Company. The share transfer and pledge invocation triggered allegations from original shareholders, especially DLF, over wrongful ouster and shareholder rights' Chinsha had accepted its exit and withdrawn all allegations, DLF pursued legal challenges through arbitration, NCLT proceedings and RERA complaints. The current settlement brings all these disputes to a close. A DLF spokesperson confirmed the settlement and the related mortgage of 1.5 lakh sq ft in the project, while ET's email query to Hubtown remained unanswered. The Tulsiwadi redevelopment, located in a prime pocket of Tardeo and adjoining the Willingdon Golf Course, is among the largest urban renewal projects in south Mumbai. The SPV has already registered three residential towers with RERA and secured funding from Oaktree Capital to support project development. With this legal resolution in place, Hubtown can now focus on executing the project without the uncertainty of shareholder litigation. Industry observers believe this settlement signals a broader trend in India's real estate sector, where structured financial settlements backed by real estate assets are increasingly being favoured over prolonged legal battles.
Indian Express
3 days ago
- Health
- Indian Express
Gurgaon IVF centre operating without license sealed after raid uncovers 84 embryos
Authorities in Gurgaon have sealed an unregistered in vitro fertilisation (IVF) and surrogacy centre operating out of Sushant Lok 1, following a raid that uncovered multiple regulatory violations, including the presence of 84 embryos and untrained staff. The action followed an anonymous tip sent to Gurgaon Chief Medical Officer Dr Alka Singh earlier this month. 'I received an anonymous email stating that an illegal IVF and surrogacy centre had been running for over a year at Block B of Sushant Lok 1,' Dr Singh said. After consulting with the Haryana Director-General of Health Services, Dr Singh was advised to coordinate with the local Deputy Commissioner. 'Subsequently, on Tuesday, we formed a six-member team, including a Sub-Divisional Magistrate (SDM), after discussions with him. The state board (under the PCPNDT Act) authorised us to take action, and we proceeded with the inspection last Wednesday,' she told The Indian Express Saturday. The centre, which had been operational for approximately a year, was found to be functioning without the required registration. 'The centre was not registered, and their registry was not maintained properly,' Dr Singh said. 'The doctors and embryologists present were not adequately trained, and in some cases, there were barely one or two doctors. They had permission for an ultrasound machine but lacked approval for Assisted Reproductive Technology (ART) procedures.' Authorities discovered 84 embryos stored at the facility, raising further concern. Staff at the centre claimed that samples were sent to Delhi for processing, but officials believe procedures may have been conducted on-site. 'After observing their activities, it appeared that these procedures were being conducted on-site, contrary to their claims,' Dr Singh added. While the presence of a large number of embryos has triggered questions, officials said there is no evidence yet to suggest the use of donor eggs from economically disadvantaged women or the provision of services to foreign clients. 'We cannot definitively say what was used or not,' Dr Singh said. The centre has since been sealed, and all equipment seized. 'It takes time to get authorisation and manage such cases, especially with 84 embryos involved,' she said, explaining the delay between the raid and the filing of the case. The first information report (FIR) was lodged on Thursday at the DLF police station in Sector 29, marking the first such case against an IVF centre in Haryana. A police spokesperson confirmed that the investigation is underway. 'The FIR was filed on the complaint by the health department. They have all the details on the devices and other material seized as of now,' the spokesperson said. Dr Sabu George, a long-time campaigner against female foeticide and member of the National Inspection and Monitoring Committee under the PCPNDT Act, said the development was not unexpected. 'It is not surprising at all. Over the years Gurgaon has become even more exclusive of a space than South Delhi, where demand for such facilities increases. Government oversight and implementation of the relevant laws post-registration of these centres is often found wanting,' Dr George said.
India Today
5 days ago
- Business
- India Today
Why ED has filed chargesheet against Robert Vadra now
Robert Vadra has always been a figure of fascination. Not quite a politician, not quite a recluse either, he has floated somewhere between family man and political liability, the outlier who entered India's most powerful political dynasty through Vadra's long and complicated tryst with investigative agencies has taken a serious turn. On July 17, the Enforcement Directorate (ED) filed a chargesheet against him in the Shikohpur land deal case, marking the first time any central agency has formally accused him in a criminal is no stranger to headlines. From the early days of the Congress-led UPA (United Progressive Alliance) rule (2004-14), his real-estate dealings have drawn scrutiny, innuendo and intense political theatre. But a chargesheet is a step up. It transforms the theatre into legal procedure, and speculation into alleged what exactly is this case about, and why now? At the centre of it all lies a 3.53-acre plot in Shikohpur village, Sector 83, Gurugram, Haryana. In February 2008, when Bhupinder Singh Hooda was the state's chief minister, Vadra's company, Sky Light Hospitality, launched just a year ago, purchased the land in Shikohpur village for Rs 7.5 crore from Onkareshwar Properties. The company, incidentally, had only Rs 1 lakh in its bank account at the time. The ED's chargesheet alleges that not only was the cheque issued from another Vadra-linked firm, Skylight Realty, it was never even presented to the land was allegedly mutated in Sky Light Hospitality's favour the very next day, a process that typically takes three months. And within four days of applying for a commercial licence, the Haryana government gave approval. By June 2008, DLF had agreed to buy the same plot for Rs 58 crore. Thus, in just four months, the land's value had appreciated by nearly 700 per Khemka factorIn October 2012, Ashok Khemka, Haryana's famously upright IAS officer, cancelled the land mutation, branding the transaction as a violation of the State Consolidation Act and other procedures. Khemka's action transformed a murky property transaction into a political scandal that Narendra Modi and the BJP weaponised during the 2014 Lok Sabha election campaign, targeting the Congress for its alleged culture of 2018, a full decade after the deal, a first information report (FIR) was filed. It named not just Vadra but also Hooda, DLF and others. The ED's money-laundering case is based on this FIR. The agency now claims the transaction was a textbook case of laundering: undervaluation, forged documentation, political influence and proceeds that cannot be instance, the ED claims that Vadra's firms lacked the financial capacity to purchase the land in the first place. Besides, Omkareshwar Properties, the seller, paid the stamp duty of Rs 45 lakh. Six months later, Sky Light Hospitality paid Omkareshwar Properties Rs 15.38 crore, double the sale deed amount, suggesting what the ED calls 'undervaluation of property' to evade stamp defenceVadra's response has been consistent: this is political vendetta. His office's statement maintains he is a 'law-abiding Indian citizen' who will be 'cleared of any wrongdoing'. He has positioned himself as a victim of the BJP's campaign against the Gandhi family, noting that whenever he or Rahul Gandhi speak against the government, these cases has a point, or at least, a talking point. The case has always appeared politically convenient for the BJP. Vadra's name routinely features in campaign speeches and television debates, often as shorthand for the alleged 'Congress culture' of entitlement and privilege. Vadra has long claimed that he is the soft underbelly through which the BJP seeks to punch wife Priyanka Gandhi is an asset for the Congress—charismatic, combative and often more direct than her brother Rahul. For years, she ensured that the Congress distanced itself from Vadra's legal troubles. Even when the Sky Light Hospitality controversy erupted in 2012, the party offered only muted support. The reason was simple: defending Vadra meant owning his baggage. And for a party already reeling from corruption allegations, the optics were Priyanka always stood by her husband symbolically. She accompanied him to ED offices. She was seen beside him in campaign rallies. But for all the public displays of unity, such as Vadra campaigning in Raebareli or appearing during Rahul's election nominations, he has never been fully embraced by the Congress machinery. And now, with a formal chargesheet against him, Vadra remains what he has long been for the party: its Achilles heel, only more implicationsWith Sonia and Rahul already tangled in the National Herald case, Vadra's troubles round out a triumvirate of tainted Gandhis. Every time Priyanka goes for the jugular, the BJP flashes Vadra like a shield. And in the world of perception, that's often timing, of course, is not incidental. With the monsoon session of Parliament set to begin on July 21, and Opposition parties gearing up to corner the government on a range of issues, including India's global standing after Operation Sindoor, the Vadra case chargesheet gives the BJP a readymade diversion and potent weapon. As the Congress prepares to go on the offensive, the ruling party now holds a fresh arrow in its quiver: as Priyanka is expected to assert herself in Parliament, showing a level of aggression and resolve that many Congress insiders say even surpasses Rahul, the ED has formalised longstanding allegations against her husband. The irony is hard to miss: the same property deals that allegedly brought Vadra immense financial gain during the Congress years now threaten to derail Priyanka's political court is yet to take cognisance of the chargesheet. Meanwhile, Vadra is also under ED scrutiny in two other cases: a controversial land deal in Bikaner and alleged benami London properties linked to arms dealer Sanjay this marks a new chapter. Politically, it's dj vu. But the larger question is this: will this case go the way of most high-profile investigations—loud headlines, long delays and a quiet fadeout? Or will it see a transparent legal end?Subscribe to India Today Magazine- Ends
