BUSINESS
MC Exclusive: How a registration error is preventing conveyance of land titles to homebuyers in Karnataka
RWAs should be registered under the Karnataka Co-operative Societies Act, 1959. But several developers in the state are pushing associations to be erroneously registered under the Karnataka Apartment Ownership Act, 1972, which does not convey the land title to the association.
BUSINESS
NCDRC asks developer to refund homebuyers excess amount taken for 'revised saleable area'
The Commission held that homebuyers can approach the courts even after the conveyance deed has been executed. Additionally, the court maintained that homebuyers who bought apartments for resale are also 'consumers' in the case.
BUSINESS
Karnataka court orders status quo of ED-attached Mantri Serenity flats
This comes after the enforcement directorate seized 381 apartments worth Rs 285 crore in the delayed south Bengaluru project.
BUSINESS
Bengaluru Kaleidoscope: Rise of mid-scale developers, launch of smaller inventories
Experts said the share of large-scale developers in Bengaluru's real estate sector widened to 35 percent now from 25 percent two years ago, while the share of medium-scale developers rose to 25 percent from 15 percent.
BUSINESS
Solar water heaters, solar panels mandatory for OC: Bengaluru municipal body
Experts point out that over 80 percent of the city’s residential buildings have been issued OCs in spite of non-compliance with regulations.
BUSINESS
Karnataka RERA has no jurisdiction over project granted 'partial OC' before enactment of RERA: Karnataka HC
The project Provident Sunworth had obtained two "partial" occupancy certificates from Bengaluru Development Authority (BDA) in 2015 and 2017.
BUSINESS
Karnataka revenue dept. attaches assets of 'delayed' luxury project in Bengaluru
The attachment comes after a seven-year delay. Developer KRSNA Projects has also started registering sale deeds of 50 apartments.
BUSINESS
MC Exclusive: Homebuyers want KRERA under purview of Karnataka Sakala
The Karnataka Sakala Services Act ensures timely delivery of government services to citizens and homebuyers want the state’s real estate regulator to be covered by the legislation.
BUSINESS
Karnataka amends land mutation rules on paper, not in practice
Jittery homeowners are running around trying to get the land records updated as they still reflect the former owner’s name in many cases. This can put the homeowners at risk, they feel.
BUSINESS
Landowner, developer jointly responsible for delayed projects: NCDRC
With joint development agreements and land transactions booming across the country in 2022, experts say land owners must be aware of the legalities before signing agreements with developers.
BUSINESS
Bengaluru, Delhi-NCR, Hyderabad tenants felt soaring rental inflation in 2022: Report
According to a report by real-estate platform NoBroker, Bengaluru saw rental inflation of 33 percent over the last five years, Mumbai 30 percent, and Delhi-NCR about 11 percent.
BUSINESS
Almost 50% of potential buyers find homes unaffordable: Report
The report showed that average price per square foot had increased by 7 percent in Bengaluru, 3.5 percent in Mumbai and 4 percent in Delhi-NCR over the last 5 years.
BUSINESS
MC Exclusive: Karnataka clarifies on RWA registrations, homebuyers demand deemed conveyance
Homebuyers have submitted a memorandum to the Chief Minister of Karnataka, Basavaraj Bommai, asking for further guidelines regarding the Karnataka Apartment Ownership Act (KAOA) 1972. The homebuyers have also asked for deemed conveyance in Karnataka.
BUSINESS
WeWork India raises Rs 550 crore from BPEA Credit-managed fund
Operational across six cities in India, currently the company has a portfolio of 6 million square feet (msf) across 41 locations.
BUSINESS
Bengaluru realty continues to attract NRI money
While most of the investments go into high-end apartments, NRIs are also looking at affordable housing projects. But they’re careful to avoid the flood-prone areas.
BUSINESS
Pet peeves 2022: Of muzzles, leashes, banned breeds, and a death
Lack of awareness of laws is causing RWAs to issue illegal regulations. But animal lovers also need to wake up to the risk posed by unsupervised animals.
BUSINESS
BDA issues partial occupancy certificate to Bengaluru residential project; homebuyers fume
In the past, several high court judgements ruled that partial occupancy certificates are not defined under the RERA Act or the Bruhat Bengaluru Mahanagara Palike Byelaws of 2003.
BUSINESS
MC Explains: Can RWAs, apartment owners relocate stray dogs from the premises?
With the growing dispute between RWAs and residents in Bengaluru, the Karnataka Animal Husbandry and Fisheries Department said their 24X7 helpline is equipped with ambulances and animal rights activists to resolve such issues, alongside police involvement.
BUSINESS
ED attaches land parcels, bank accounts worth Rs 78 crore of developers in Hyderabad, Bengaluru
The assets include properties worth of a Hyderabad-based firm SA Builders & Developers and bank balance of Bengaluru- based developer Neelanchal Technocrats Pvt Ltd of Sallarpuria Group.
BUSINESS
Prestige Group to invest Rs 10,000 crore for commercial development in Bengaluru
The company will launch over 12,000 residential units across India in the next three months. Aims to double its retail portfolio over three years.
BUSINESS
With growing need for sustainability, how will Indian real estate look in the long run?
Architects say today sustainable housing primarily lies in the luxury segment. However, with the right design techniques, affordable housing too could adopt it.
BUSINESS
Despite multiple NGT orders, Karnataka’s inaction against encroachments risks more floods
The state government has joined hands with the World Bank to seek a permanent solution to the flooding in Bengaluru.
BUSINESS
Want to rent an apartment in Bengaluru? Update your LinkedIn profile
With demand for rental apartments shooting through the roof in Bengaluru, landlords have become ultra-choosy. They are now asking for payslips and career profiles of prospective tenants before they make a decision. Here’s a look at what are their new demands
BUSINESS
Enforcement Directorate attaches land assets of Sobha developer worth Rs 201 crore
ED investigation revealed that the management misused the No Profit No Loss scheme over a series of transactions.
