BUSINESS
KRERA pulls up Shriram Properties for providing misleading information to buyer
In this case the developer's subsidiary sold an apartment to the buyer worth Rs 1.2 crore claiming that the highrise would have 27 floors with RERA approval. However, the project had only 20 floors.
BUSINESS
Karnataka CM to appoint RERA appellate tribunal chairman: State to HC
The Karnataka High Court told the government that the Lok Sabha polls should not interfere with the process of filling up RERA vacancies in the state.
BUSINESS
IndiaLand to invest Rs 1,500 crore in Indian real estate in 3 years
The company plans to increase its asset value in India to Rs 7,000 crore from Rs 3,000 crore currently within the next five years.
BUSINESS
Bengaluru water crisis: Bengaluru rental demand shifts away from IT corridor of Whitefield
The ongoing water shortage has increased the maintenance cost of apartment owners in these complexes by at least Rs 6,000 per month.
BUSINESS
NCDRC allows homebuyer complete refund for delayed handover despite having possession offer
Refuting the claims of the developer that when possession is offered "there is no question of a refund", NCDRC said builders obtaining occupancy certificates is irrelevant if the offer for possession is not made within the agreed time frame.
BUSINESS
Bengaluru water crisis: Amid protest, experts suggest ban on supply to construction work
Places where people used to receive regular piped water supply from the city's water board are also facing a shortage.
BUSINESS
Explainer: Is south Bengaluru catching up with the realty boom in the eastern IT corridor?
Experts note that although south Bengaluru realty is growing, the city's east and north will continue to dominate the rental and commercial sector because of the rapidly expanding developmental projects.
BUSINESS
Bengaluru home sales dip in Q1 2024 as affordable housing segment shrinks
But in the top 8 cities, including Bengaluru, sales of homes priced at Rs 1 crore and above spiked 40 percent from the year- ago quarter
BUSINESS
Bengaluru water crisis: Developers, government come together to supply treated water to construction sites
Within 500 meters of wastewater treatment plants, major under-construction sites and private apartments will be supplied water through a separate pipeline
BUSINESS
Surging prices shift investors towards under-construction properties over ready inventories
A report by Knight Frank India said home-purchasing costs increased 5.9 percent year-on-year during the third quarter of 2023, the second-highest in Asia.
BUSINESS
ED attaches Rs 124 cr of properties related to M3M Group in Religare money laundering case
The properties sprawling 430 acres, belonging to RS Infrastructure, Kenwood Mercantile, and Goodfaith Builders, are in the form of land, and farmhouses located in "posh" areas of Gurugram and Delhi
BUSINESS
KRERA pulls up Puravankara subsidiary for delay in apartment delivery
This comes at a time when homebuyers continue to pay high home loan interest rates for delayed projects, following the Reserve Bank of India’s (RBI) pause in rate hikes at 6.50 percent.
BUSINESS
Electoral bonds: Top real estate developers donate over Rs 630 crore to parties
Bharatiya Janata Party was the biggest beneficiary with over Rs 314 crore in donations, India National Congress received about Rs 98 crore. BRS got over Rs 90 crore and TMC received Rs 41 crore.
BUSINESS
Exclusive: Blackstone, Sattva Group and Panchshil Realty to float India's fourth commercial REIT in FY25
Experts say that as REITs expand into new asset classes like industrial, data centers, hotel, healthcare, and education, they will experience rapid development in the future.
BUSINESS
Lok Sabha elections 2024 likely to spur housing demand in India, says report
A report by ANAROCK India said that housing sales grew significantly in both the election years of 2014 and 2019.
BUSINESS
Nexus Select Trust to expand mall portfolio amid southern India's retail boom
The company is in talks to acquire 1 million square feet of mall space; outlines the strategic shift towards acquiring brownfield projects, while emphasising preparedness to swiftly integrate acquired malls into its structure.
BUSINESS
Bengaluru water crisis: Experts anticipate dip in apartment rentals, investors hold back
The soaring rents if the last two years may taper off due to the new crisis, realtors say, and expect a significant dip in rentals of 10-15 percent.
BUSINESS
Register entire township as one project: Tamil Nadu RERA Tribunal tells House of Hiranandani
Builders cannot "cleverly" get around the RERA regulations by registering each tower separately, the order said.
BUSINESS
Mahindra Lifespaces acquires 9.4 acres in Bengaluru, eyes apartments worth Rs 1,700 crore
The company expects to launch the first phase of the project within the next twelve months.
BUSINESS
New apartment registrations in Chennai come to halt, developers seek relief
Developers say the new registration system has pushed up the registration charges for homebuyers upwards of 100 percent between March and December 2023.
BUSINESS
Bengaluru water crisis: How booming real estate projects have deepened the crisis
Urban Bengaluru, particularly the recently developed townships surrounding the IT hubs of Whitefield and Sarjapura, faces the brunt of the water crisis
BUSINESS
Bengaluru power supplier's notice to residents' association highlights registration conundrum
BESCOM's notice stresses the major challenges in Karnataka laws to register resident welfare associations (RWAs) in the IT capital of India - at a time when real estate booms in Bengaluru and prices skyrocket.
BUSINESS
L&T sold properties worth Rs 1,004 cr in Bengaluru in Q4CY23, highest in the city: Data
Consultants say there is a clear inclination towards the affordable segment properties below Rs 50 lakh, comprising 48 percent of the total transactions.
BUSINESS
Wealthy Indians investing in UAE, European realty for lifestyle, returns
Currently, rental yields in regions like Sharjah and Abu Dhabi range from 6-8 percent, while Dubai has the highest yields, at 9-10 percent. Yields in Europe average between 4-5 percent.
