INDIA
PM Modi inaugurates 3,024 flats built for slum dwellers in Delhi
Modi handed over the keys of flats to eligible slum dwellers in south Delhi. The flats were built as part of a slum rehabilitation project
BUSINESS
Yotta data centre in Greater Noida expected to boost commercial real estate in the region: Niranjan Hiranandani
Data centre company Yotta Infrastructure, a Hiranandani group arm, has pledged to invest Rs 39,000 crore in Uttar Pradesh over the next five-seven years
BUSINESS
Rs 23,380 crore investment required for sustainable upgrade of Grade A office stock in the top four cities: JLL
Bengaluru, Mumbai, Delhi NCR, and Hyderabad account for 77% of Grade A office stock in India amounting to over 569 million sq. ft; Around 61% of this stock is eligible for upgradation/ retrofitting, totalling 347 million sq. ft of which 89% of this upgradable stock has no sustainability certifications
BUSINESS
UP CM Yogi Adityanath inaugurates North India's first hyperscale data centre Yotta D1 in Greater Noida
The launch also saw Yotta entering into an MoU with the Government of Uttar Pradesh to invest Rs 39,000 crore in a phased manner over 5 to 7 years.
BUSINESS
Consumer court directs Godrej Projects to refund Rs 51.36 lakh to homebuyer
The National Consumer Disputes Redressal Commission has directed Godrej Projects to refund Rs 51.36 lakh to homebuyer for failure to provide 24 metre road connecting the project
BUSINESS
Amazon Web Services acquires 60 acres of land in Thane for Rs 1,800 crore
The land parcel is expected to be utilised for setting up a data centre facility
BUSINESS
When homebuyers turn developers: RERA provision turning out to be a mixed bag for pushing stuck projects
Homebuyers who took over stuck projects across the country are finding it to be a Herculean task that requires all of them to be on the same page and trust a third-party builder or the former developer who may be brought in to complete the project.
BUSINESS
Diwali 2022: Lesser number of freebies and discounts, new real estate launches in Mumbai and upgrades/resale in Delhi-NCR
The affordability factor is facing some challenges. Home loan rates have risen in the past six months, and realty prices are facing upward pressure. Yet, this sentiment disruptor could be temporary, a JLL report noted.
BUSINESS
Omkar Milind Shirhatti, chief product officer at Perfios, buys luxury apartment for Rs 47.70 crore in Mumbai
Demand for luxury projects in Mumbai has risen and the tilt has been in favour of ready or near-ready real estate projects. Tech startups, flushed with money, promoters and other stockholders are snapping up high-end luxury residences
BUSINESS
Are UHNI homebuyers shopping for farmhouses this festive season?
Before the pandemic struck, the farmhouse market was witnessing a down cycle. Post COVID-19, almost 80 percent of properties that were on sale have been sold. Property experts say that the value of farmhouses has increased by almost 40 percent after the pandemic.
BUSINESS
Indiabulls Commercial Credit buys Anand Lok property for Rs 60 crore
The purchase comprises four floors of a property in the posh South Delhi locality, and was made from Sheela Gehlot, wife of Ambience Group’s Promoter Raj Singh Gehlot
BUSINESS
Urban planning should focus on generating jobs as well: Housing secretary
Joshi also spoke about the immense scope for industry-government collaboration in water treatment and in overcoming the resistance to residential usage of treated-water in urban areas
BUSINESS
Supreme Court approves name of former RBI executive director Uma Shankar to Unitech board
With her appointment there are now five directors on the Unitech board
BUSINESS
Exclusive: DLF leases 2.4 lakh square foot office space to Adidas in Gurugram
The project DLF Downtown is at a prime location on National Highway 8
BUSINESS
Nilekani family trust buys property in Bengaluru’s ‘Billionaire Street’ for Rs 59 crore
Given the limited supply of plots and independent houses in this block in Koramangala, it has high demand from ultra-high net worth individuals
BUSINESS
MC Explains: All about stage 1 of Graded Response Action Plan and steps taken by NCR to curb dust pollution
In Ghaziabad, 70 developers and the authorities have so far registered on the UP Environment Compliance Portal and 137 in Gautam Buddh Nagar district
BUSINESS
Construction ban every year citing fall in air quality delays real estate projects by at least 3-4 months
A policy that curbs pollution throughout the year, and not a reactive approach in October every year, is the need of the hour, say environmentalists.
BUSINESS
Amazon Data Services leases 4.51 lakh sq. ft. in Mumbai for Rs 74.91 cr p. a.
Growth of the Indian data centre industry will drive demand for 7.8 mn sq. ft of real estate over the next two-and-a-half years, necessitating an investment of $4.6 bn
BUSINESS
Madhuri Dixit buys apartment in Mumbai for Rs 48 crore
The property, located in Indiabulls Blu project, was registered on September 28, 2022
BUSINESS
Noida Authority to appoint consultant to assess facilities in sports cities
Under the sports cities scheme floated in 2011, 70 percent of the area had to be reserved for recreational and sports facilities. Commercial infrastructure was to be allowed on 10 percent area and 20 percent area was to be utilized for developing residential plots or group housing projects
BUSINESS
Hike in repo rate by RBI may impact real estate demand this festive season
Rising interest rates are likely to translate into higher equated installments and put more pressure on the final unit at the household level
BUSINESS
All legacy dumpsites to be remediated under Swachh Bharat Mission 2.0: Hardeep Singh Puri
1,000 legacy dumpsites, including those in Delhi, containing 12.8 crore metric tonnes waste have been approved by MoHUA, with total project cost of more than 8,000 crore rupees, the minister said
BUSINESS
MC Explains: SBI’s insolvency plea against Jaiprakash Associates may lead to tough times for homebuyers
Going by the pace at which insolvency petitions are admitted and cases are resolved, the wait for thousands of JAL homebuyers may only get prolonged.
BUSINESS
Awfis to expand to 0.6 million sq ft by end of 2022 across seven tier-2 cities
The company expects annual revenue to touch Rs 100 crore from emerging metros over the next 12 months
