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DLF Scraps Rs 500 Cr in Goa Residential Project

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DLF Scraps Rs 500 Cr in Goa Residential Project

Last updated: October 12 2011
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  • DLF Scraps Rs 500 Cr in Goa Residential Project

    It is another blow to the already troubled DLF . The real estate major has scrapped its first project in Goa, reports CNBC-TV18's sources. According to sources, DLF has, however, refunded 289 customers at 6-7% simple interest.
    The residential project worth Rs 500 crore was on hold following a high court order, which directed the company not to fell trees or level hills for construction activities.
    DLF has said that the project has been indefinitely delayed as a NGO filed court case. The petition filed by one Edwin Mascarenhas along with the NGO Goa Foundation.
  • #2

    #2

    Re : DLF Scraps Rs 500 Cr in Goa Residential Project

    Another Blow to DLF.
    Thanks

    Comment

    • #3

      #3

      Re : DLF Scraps Rs 500 Cr in Goa Residential Project

      http://www.indianrealestateforum.com...dlf-18203.html
      Please read IREF rules | FAQ's

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      • #4

        #4

        Re : DLF Scraps Rs 500 Cr in Goa Residential Project

        I think the old stalwarts like DLF, Unitech, Vatika etc are loosing their brand value slowly...

        There is a great opportunity for new players in the Indian Real Estate market. Companies which can be innovative with the project concepts and be effective and efficient in the execution of the projects.

        Comment

        • #5

          #5

          Re : DLF Scraps Rs 500 Cr in Goa Residential Project

          wise decision..

          Wise decision by DLF.
          To me, DLF again proved it also cares & scores high on CSR [corporate social responsibility & so they finally reviewed their plans & decided not to proceed inspite loosing some profits.....


          Originally posted by amit001 View Post
          It is another blow to the already troubled DLF . The real estate major has scrapped its first project in Goa, reports CNBC-TV18's sources. According to sources, DLF has, however, refunded 289 customers at 6-7% simple interest.
          The residential project worth Rs 500 crore was on hold following a high court order, which directed the company not to fell trees or level hills for construction activities.
          DLF has said that the project has been indefinitely delayed as a NGO filed court case. The petition filed by one Edwin Mascarenhas along with the NGO Goa Foundation.

          Comment

          • #6

            #6

            Re : DLF Scraps Rs 500 Cr in Goa Residential Project

            May be its the time of the new players like IREO, ATS, Alpha G etc

            But we need to give time to all these companies to prove their worth..

            Executing 1-2 projects in a particular area and managing and executing 20-50 projects on pan India basis is a different cup of tea all togther.

            Comment

            • #7

              #7

              Re : DLF Scraps Rs 500 Cr in Goa Residential Project

              Nipsy u call it a wise decision.

              Builder take 18% on delays and you call scrapping a project and paying 6-7% a wise decision????

              Am i missing something

              Comment

              • #8

                #8

                Re : DLF Scraps Rs 500 Cr in Goa Residential Project

                Sab saale ek hi thali ke chaatebate hain - DLF, Unitech, Vatika, Emaar the big 4 of NCR RE

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                • #9

                  #9

                  Re : DLF Scraps Rs 500 Cr in Goa Residential Project

                  Maybe, what nipsy meant was Paisa dobbeney se tao baccha . Wapas mil jayega .
                  Please read IREF rules | FAQ's

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                  • #10

                    #10

                    Re : DLF Scraps Rs 500 Cr in Goa Residential Project

                    Paying simple interest at refund timing is universal logic followed by all global companies /banks /etc...We cant expect them to pay bank loan rate of interest. Rather, this action of DLF should only be looked as an action towards society in modern times...
                    => do we encourage intra companies to go against the mother nature



                    Originally posted by amit001 View Post
                    Nipsy u call it a wise decision.

                    Builder take 18% on delays and you call scrapping a project and paying 6-7% a wise decision????

                    Am i missing something

                    Comment

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