BUSINESS
Quarterly sales in high-end segment top affordable housing for first time: Report
While properties costing over Rs 1 crore saw an annual rise of 39 percent, the mid-segment of Rs 50 lakh to Rs 1 crore saw a rise of 14 percent on-year in Q3 CY2023. The report also said that the Indian office segment witnessed 16 million sq ft of transactions in the quarter.
BUSINESS
Bengaluru court initiates criminal proceedings against Sobha Ltd for forgery in residential project
The homebuyers have accused Sobha Developers of mortgaging the Sobha City project in north Bengaluru to the tune of Rs 1,040 crore and adding units with forged NOCs. However, the company clarified that only Rs 645 crore and Rs 50 crore were taken from the bank, which it paid back fully before the transfer of property to customers.
BUSINESS
After guidance value increase, property prices in Bengaluru jump by 10-20%
Local brokers say the outskirts of the city witnessed the highest jump in property prices, compared to the central business district areas
BUSINESS
Brigade Group to develop 7.5 msf of residential space, invest Rs 2,700 crore
Eighty percent of the upcoming launches will be in the mid-income segment, with ticket sizes ranging between Rs 80 lakh to Rs 1.5 crore.
BUSINESS
Karnataka RERA orders developer to refund entire amount despite project completion. Here's why
In this case, the homebuyer had booked an apartment in the Sobha Valley View project in south Bengaluru for Rs 1.5 crore.
BUSINESS
Not just ordering pizzas, I downloaded real estate listing apps stuck in traffic, says this Bengalurean
This Bengalurean has been looking for an apartment near her office for the last nine months. That's not all: there are others who are considering quitting jobs rather than dealing with the city's notorious traffic.
BUSINESS
Karnataka collects Rs 311 crore from property registration in a day, calls it a record
This comes after the state government announced on September 19 that the guidance value for property may go up by 20-30 percent from October 1
BUSINESS
India-Canada row may impact Indian real estate if prolonged, experts say
Total foreign investments by Canada and the US in 2022 stood at $1.6 billion in 2022, accounting for 52 percent of the total foreign inflows.
BUSINESS
Post-Covid-19, residential company rental leases in Bengaluru dip by more than 30%
Bengaluru Real Estate: Landlords cannot hike the rent or change any terms during the lock-in period of a company lease, which hinders their ability to rake in rental income in the booming Bengaluru real estate market.
INDIA
Focus on Praggnanandhaa as India begins campaign in chess at Asian Games
The 18-year old Praggnanandhaa is part of a strong squad for the team event (to be played under standard time control), which also includes fellow teenager and GM D Gukesh as India will vie for the gold medal.
BUSINESS
Ahead of guidance value hike, sub-registrar office timings extended in Karnataka
The sub-registrar offices in Karnataka will operate from 8 AM to 8 PM till September 30.
BUSINESS
Developer cannot claim pending dues, delay interest from buyer without valid documents: Karnataka RERA
KRERA said most of the documents, including the building plan and BDA modified plan of Provident Park Square 5 expired in 2018 as the developer failed to obtain a commencement certificate before that.
BUSINESS
MC Explains: Despite unrestricted FSI, the number of high-rises in Hyderabad is steadily declining
Experts say this may be due to several reasons, including a shift in homebuyers' real estate preferences and the rising construction costs in the city amid a global recessionary market.
BUSINESS
Bengaluru may see uptick in property prices as guidance value expected to go up from October 1
The average increase is likely to be 20-30 percent depending on the area; may go up to as high as 50 percent in dense IT corridors.
BUSINESS
Homebuyers can claim compensation if construction is halted for any reason: Karnataka RERA
In this case, the developer had contended that the project was never stalled but the construction was halted — per directions of the municipality — due to a wall collapse in an adjacent building.
BUSINESS
Prestige Group eyes Rs 16,000 crore of residential sales in FY24
The company plans to launch 18 million square feet of residential property and enter the National Capital Region.
BUSINESS
MC Explains: With rentals in Hyderabad hitting the roof, is the city’s real estate sector going the Bengaluru way?
Experts say the real estate demand in the city has gone well past pre-pandemic levels. Data shows that pre-Covid, rentals in Hyderabad were already higher than those in Bengaluru.
BUSINESS
Bengaluru project with 35 apartments rents out in 48 hours on high demand
Rents have been on the rise, sometimes over a few hours, in the nation’s IT capital amid a shortage of apartments.
BUSINESS
Villa prices in Bengaluru see uptick for first time in a decade, jump by 25%
While the demand for villas has increased by 25 percent since August last year, it has jumped 120 percent since August 2021, data shows.
BUSINESS
Shriram Properties to develop 4.8 million sq ft in FY24, eyes sales of Rs 2,300 crore
Currently, the company has over 20 million sq ft of apartments and 3 million sq ft in plots under construction. This year, the company plans to hand over 3,000 units compared to 2,000 units last year.
BUSINESS
KRERA orders developer to refund pre-EMI with interest for delayed project in Bengaluru
Delayed by about three years, the project Shriram Summitt developed by Shriram Properties was supposed to be handed over in 2019. The Authority rejected appeals by the developer that the delays had been caused by COVID-19
BUSINESS
Bengaluru homebuyers meet state govt, demand deemed conveyance provisions
The homebuyers are seeking clarity in home registration processes. They have stated that despite having no authority, the sub-registrars in the state continue to register resident welfare associations and their bylaws.
BUSINESS
NAREDCO Conference | Demand from Tier I, II cities good, but construction at lower pace: LIC Housing Finance
Tribhuwan Adhikari, CEO of LIC Housing Finance says risk management assumes greater importance now, given the volatility in the sector. The company will adopt a cautious approach when it comes to funding housing projects, he said.
BUSINESS
FDI in realty dipped 10% in 2022, was lower than pre-Covid levels: Knight Frank
However, foreign investment comprises less than 2 percent of the funds in the real estate sector, and is therefore unlikely to have any significant impact.
