BUSINESS
Bangalore Development Authority-backed project lacks basic facilities even after eight years
Homebuyers in the project have filed a complaint with the Karnataka Lokayukta against the BDA chief for lack of permanent water and electricity connections, a non-functioning sewage treatment plant (STP) and proper fire safety provisions
BUSINESS
Robots celebrate Diwali in Jaipur housing society; serve food, aid in maintenance
Manufacturer Club First Robotics said deploying the robots can save up to Rs 1.8 lakh each month in maintenance of apartment complexes.
BUSINESS
Karnataka Fire and Emergency Services department flags off Green Deepavali campaign; introduces 90-metre aerial ladder platform for high-rises
With this, Bengaluru becomes the second city after Mumbai to have a 90-metre ALP firefighting system.
BUSINESS
Nisus Finance to invest Rs 1,400 crore in Indian residential sector; to foray into Kolkata, Chennai
The company is looking at investing Rs 400-500 crore in stuck residential projects across Bengaluru
BUSINESS
Puravankara plans to launch 15 mn sq ft of development this year; clocks 43% higher sales
The company plans to launch three new projects in Bengaluru amid the ongoing festive season
BUSINESS
Shriram Properties plans 1.8 million square feet development in Chennai, on track to be debt-free in 18 months
Chairman and managing director M Murali said the Tamil Nadu real estate sector will grow 30 percent by 2023.
BUSINESS
Shriram Properties plans to develop 2.5 million square feet this fiscal, to foray into Pune
The company plans to become debt-free within the next 18 months following an increase in demand for the mid-market home segment
POLITICS
'Whoever becomes my heir will be my son', tweets Eknath Shinde in dig at Uddhav Thackeray
Shinde’s tweet appears to be targeted at former chief minister Uddhav Thackeray and his son Aaditya Thackeray. While Uddhav Thackeray heads one faction of the Shiv Sena, Shinde leads another camp.
BUSINESS
Noida Twin Towers Demolition: Only around 1 percent of the construction debris has reached C&D waste recycling plant
Environmentalists say at the current pace, the promise of recycling 30,000 tonnes before the end of November is unlikely to be met, and may take up to one year. They also plan to move the National Green Tribunal if authorities fail to meet the target.
BUSINESS
MC Exclusive: Karnataka assembly questions grounds of registering RWAs under Karnataka Apartment Ownership Act, 1972
Minister of cooperation S.T. Somashekhar said the state is mulling amending the Act in December and will be seeking further clarifications from the Union government.
BUSINESS
Karnataka RERA cracks down on developers not registering projects
Despite Karnataka High Court and KRERA rulings, homebuyers in the state claim several developers continue to issue partial occupation certificates’ for handing over the apartments.
BUSINESS
Experts say floods pose serious threat to Bengaluru’s buildings; more safety reforms needed
Recently, a group of homebuyers from Outer Ring Road in Bengaluru filed three complaints against the builder for failing to take necessary precautions to avoid apartment flooding.
BUSINESS
MC Explains: What does Karnataka HC order barring lenders from acting against buyers of delayed projects mean?
The court ruled that banks cannot take coercive actions against homebuyers without ascertaining the status of building construction
BUSINESS
State auditor’s report says Karnataka met only 17% of target in affordable housing segment
The report says the Union government withheld Rs 1,003.55 crore due to non-fulfilment of prescribed conditions by the state. Also, the requirement of registering projects under RERA had not been met.
BUSINESS
Karnataka homebuyers owed Rs 245 crore in refunds from builders
Homebuyers in the state have received barely 10 percent of the amount payable by builders as refunds or compensation on account of delays.
BUSINESS
With no conveyance deeds, Bengaluru flat owners stare at massive building repair costs
None of the builders in the state has issued conveyance deeds, and so most of the Resident Welfare Associations cannot hold bank accounts for sinking funds or maintenance funds that could have come in handy for repairs of building infrastructure after the flood damage.
BUSINESS
Bengaluru flooding | Karnataka minister warns of Twin Tower-like demolition drive
Bengaluru civic authority has begun a drive against encroachments. Experts blame encroachments of stormwater drains as one of the main reasons for waterlogging in the city
BUSINESS
Bengaluru floods will make builders more aware, unlikely to affect property prices: CREDAI
Much of the city’s real estate and infrastructure sits on land that was till recently a lake. The government needs to prevent encroachment and ensure proper drainage to avoid floods in the future.
BUSINESS
Karnataka CID arrests Mantri Developers CMD Sushil Mantri in money laundering case
Previously, The Enforcement Directorate (ED) had attached immovable assets worth Rs 300.4 crore against Mantri Group for cheating home buyers, without delivering the apartments as promised.
ENVIRONMENT
MC Explains: The curious case of Bengaluru’s floods
After parts of Bengaluru were inundated this week, experts try to make sense of the devastation, its causes and the tough solutions needed to prevent a repeat.
BUSINESS
Flooding in Bengaluru will be a ‘lesson learnt’ for the real estate sector, experts say
Developers and homebuyers take stock of the lessons taught by Bengaluru's flood havoc.
BUSINESS
Construction in Bengaluru unlikely to be affected by flooding: Builders
Realtors say the property market will benefit from demand in the city despite widespread flooding triggered by heavy rain
BUSINESS
Private residences, luxury villaments submerged across 'Billionaire Street' in Eastern Bengaluru
Residential associations say they incurred a loss of at least Rs 1.5 crore in damage, and some have been living away from their homes for about a week. CEOs say two days of flooding has led to a loss of at least Rs 1-2 crore.
BUSINESS
Will the festive season lift housing sales in Maharashtra and Karnataka?
Sales have dropped over the last couple of months due to excess supply, higher prices, rising home-loan rates and a hike in the stamp duty rate.
