BUSINESS
Construction sector grows at 16.8% in April-June quarter of FY2023 due to focus on infrastructure projects
The financial, real estate and professional services sector also showed a growth trajectory in the first quarter of 2022-2023 at 9.2 percent compared to 2.3 percent in 2021-2022.
BUSINESS
NCDRC asks Orris Infrastructure to comply with refund order issued in Aster Court Premier case
If the amount of around Rs 46 crore along with the interest is not refunded to homebuyers by the company, then the promoters should be made personally liable under Sections 25 and 27 pertaining to criminal liability.
BUSINESS
We never ask why a building is being demolished – our job is to get rid of it: Demolition experts
The task of demolishing the twin towers was made more difficult by the presence of other residential buildings nearby.
BUSINESS
Demolition of twin towers made ‘stomach crunch up’ but experience was ‘great’: Master blaster Joe Brinkmann
It was an intense day for those involved in the demolition, with emotions running high amid a lot of mental and physical effort.
REAL-ESTATE
Why the Noida Supertech twin towers were razed
Noida Twin Tower Demolition: Taller than Qutub Minar, Apex and Ceyane towers are the outcome of collusion, corruption and violations at every step of the way and a rare victory for the beleaguered homebuyer
BUSINESS
Yes Bank leases space in Goregaon with rent of Rs 53 lakh per month for 5 years
The tenure of the lease is 60 months from September 22, 2022 to September 21, 2027, the documents showed. The lock-in period is 18 months.
BUSINESS
DLF targets Rs 1,300 crore sales realisation from new project in Panchkula
The luxury floors will comprise four floors on 500 square yards plots that will be spread across 3,500 square feet area each. Each floor will be priced at around Rs 3 crore
BUSINESS
Supertech Twin Towers Demolition: Will it send out a tough message to builders and authorities?
Fund managers say the demolition of the illegal structure may make financial institutions wary of lending to the real estate sector
BUSINESS
Infosys leases 5 lakh sq ft office space in Bengaluru for Rs 2.35 crore a month
The lease deed, signed between Modern Asset and Infosys Limited on May 12, 2022, is for a period of 10 years beginning June 1, 2022
BUSINESS
Supertech Twin Towers Demolition: Structures to crumble in 12-13 seconds
More than 30,000 tonnes of debris will be sent to landfill sites by trucks, Edifice Engineering partner Utkarsh Mehta told Moneycontrol
BUSINESS
Amrapali case: Supreme Court grants four weeks of interim bail to former director Shiv Priya
The next date of the Amrapali case is on September 3.
BUSINESS
MC Exclusive | Lulu Group aims at retail opportunities in Noida, Gurugram, scouts for land
In Gurugram, the company has taken up a space in a mall for a hypermarket. “This is under construction. This should be operational in about a year-and-a-half,” Shibu Philips, Director-Shopping Malls of Lulu Group India told Moneycontrol
BUSINESS
MC Explains | Will upfront payment for land alter the dynamics of Noida’s real estate market?
Moneycontrol examines if the Noida Authority's move will help in the timely completion of projects and offer a solution to the problem of delayed projects
BUSINESS
CitiCorp Services India renews lease of 1.6 lakh sq ft of office space in Mumbai
The total chargeable area is 1.60 lakh sq ft and the carpet area is 1.28 lakh sq ft, the documents showed.
BUSINESS
Aakash Educational Services MD buys property in Delhi worth Rs 137 crore
The National Capital Region is also continuing to witness strong demand for luxury addresses and premium developments offering high-class amenities.
BUSINESS
Can homebuyers’ associations complete a stuck project under RERA?
This project had a net negative cash flow of between Rs 18 crore and Rs 19 crore. In this case, the developer agreed to salvage the situation by agreeing to contribute the balance. Can the model work in big projects that are stuck?
BUSINESS
SC grants interim bail to former CMD of erstwhile Amrapali Group Anil Sharma
On the issue of sale of floor area ratio in compliance of an earlier order dated July 22, 2022, the court receiver on August 8 submitted an action plan for all seven projects of the erstwhile Amrapali Group
BUSINESS
Despite the long wait, the insolvency process has made a difference to 1,400 buyers of SARE Homes in Gurgaon
After work on the project stopped in two phases in 2017 and in the entire project two years later, the buyers knocked on the doors of every legal forum – the National Consumer Disputes Redressal Commission of India (NCDRC), the Haryana RERA, and the NCLT.
REAL-ESTATE
State of Real Estate: Abandoned construction sites, undelivered homes, shattered dreams
Developers of delayed projects, on the other hand, claim they face a cash crunch, which led them to halt projects. However, experts say the cash crunch is primarily due to financial indiscipline and diversion of funds in the era before enactment of RERA
BUSINESS
MC Explains | Noida Twin Tower Demolition | Explosives to be used, damage to surroundings and other questions answered
Over 3,500 kg of explosive will be filled within 9,400 holes drilled in the columns and sheers of the nearly 100-metre tall twin towers.
BUSINESS
Amazon Data Services leases 2.39 lakh sq ft freehold industrial land space in Mumbai
Mumbai and Chennai are the top data centre markets, as these cities have the highest number of cable landing stations in the country. Amazon has massive digital infrastructure in India.
BUSINESS
Pre-demolition work on Noida twin towers complete: Sources
From August 2 to August 20, explosives will be placed in the pillars and during this period all the entry points to the twin towers will be blocked except for employees of Edifice Engineering. Police and fire tenders will be deployed at the site, sources said
BUSINESS
Housing sales dip by 7% in Q2 2022; unsold inventory down by 5% compared to last quarter: PropEquity
Chennai witnessed the highest housing price appreciation of 15 per cent during April-June across 9 major cities.
BUSINESS
Andhra, Tamil Nadu, UP and Assam adopt Model Tenancy Law
The Union cabinet on June 2, 2021 approved the Model Tenancy Act for circulation to the States and Union Territories for adoption. It seeks to facilitate unlocking of vacant houses for rental housing purposes.
