BUSINESS
Delhi govt to extend rebate on circle rate of land, immovable property by six months
The Delhi government on December 31, 2021 extended the 20 percent rebate on circle rate for land and immovable property till June 30, 2022 to help Delhi’s COVID-hit real estate sector
BUSINESS
UPRERA cancels registration of three Antriksh Sanskriti projects in Ghaziabad citing construction delay
The registrations of Antriksh Sanskriti Phase-2, Antriksh Sanskriti Phase-3 and Raksha Vigyaan Sanskriti Phase-2 have been cancelled and proceedings initiated under RERA's Section 8, the real estate regulatory authority said
BUSINESS
Mastercard Technology leases 4 lakh sq. ft in Pune for Rs 4.12 crore a month
The office space is being developed and is likely to be delivered in three phases between October 2022 and October 2024
BUSINESS
Ansal Properties and Infrastructure fined Rs 100 crore for ‘violation of green norms'
Vice chairman Pranav Ansal says the builder has not received the CPCB letter; maintenance of colony handed over to the RWA almost 12 years ago
BUSINESS
Raheja promoters buy Juhu property in Rs 265 crore mega deal
The land area of the Juhu property is 30885.96 square feet and the structure is spread across an area of 7933 sq ft, documents showed.
BUSINESS
K Raheja Corp arm buys BR Chopra’s bungalow in Mumbai for Rs 183 crore
The Deed of Conveyance was registered on May 27, 2022. Stamp duty of around Rs 11 crore has been paid, according to the registration documents
BUSINESS
Rising interest rates may impact home-buying sentiment, say experts
The upward revision in credit limit for homebuyers through cooperative banks will provide increased credit access, say experts, who also hailed the move allowing rural and district cooperative banks to lend to realtors
BUSINESS
Here is what you should know about oral promises made by real estate developers
Your real estate developer may assure you of a completion date that’s earlier than the one mentioned in the written agreement. Or he may have promised you an additional parking slot or terrace space. How do you handle such assurances?
BUSINESS
1% transfer duty hike on purchase of properties priced above Rs 25 lakh in Delhi a dampener for real estate market
The hike is unwarranted at a time when Delhi’s real estate market is seeing an uptick in housing sales as against the previous years, and overall cost of acquisition of properties is already spiraling, say experts
BUSINESS
Here’s why the NGT order directing Noida, Greater Noida authorities to stop concretization of road sides is important
Environment experts said that this violation should be dealt with strictly across cities and not restricted to the twin cities in NCR; Concretization should be done on the basis of footfalls and not on the basis of funding available with the corporations
BUSINESS
Tulip Infratech to develop stuck project of Vipul Ltd, to invest Rs 4,000 crore over seven years
Insolvency proceedings against Vipul Ltd were withdrawn in 2020 and Tulip Infratech took over the incomplete mixed-use project in 2021
BUSINESS
Oberoi Realty signs deal to develop land parcel worth Rs 404 crore in Mumbai
High-value land transactions have gained ground in the recent past primarily on account of increase in demand for housing
BUSINESS
UP RERA permits promoter to complete stuck housing project in Ghaziabad
This is the 13th real estate project under rehabilitation to achieve completion under Section 8 of RERA.
BUSINESS
SC clarifies that NOIDA is not a financial but an operational creditor
While some legal experts say that the apex court’s decision is a shot in the arm for homebuyers, who will now have a greater say in the insolvency resolution of a distressed real estate company, others point out that it is only half the battle won
BUSINESS
Maharashtra government announces relief measures under Navi Mumbai Housing Revival Program
This is expected to offer relief to thousands of homebuyers and over 400 affected projects in the region
BUSINESS
Sukumar Srinivas buys two properties in Bengaluru’s ‘Billionaire Street’ for Rs 44.60 crore
Koramangala’s 3rd Block, considered among the richest enclaves in India’s IT capital, is home to some of the country’s most successful entrepreneurs including Devi Prasad Shetty of Narayana Health and Flipkart founders Sachin Bansal and Binny Bansal.
BUSINESS
Office rents will increase as employees return to work, says Vikaash Khdloya, Deputy Chief Executive Officer and COO, Embassy REIT
Going forward, Embassy REIT has a strong pipeline of about 500,000 sq ft for FY 2023 which is almost double of last year, Khdloya says
BUSINESS
Runwal Group acquires land parcel for Rs 471 crore in Thane
Thane continues to witness immense activity on the infrastructure front (flyovers, Metros, and Mumbai Nagpur expressway) and robust industrial and logistics parks development
BUSINESS
Bringing art into the work space: A look at BNY Mellon's new office in Chennai
Apart from engaging the local artist community to design tasteful murals and illustrations, the office will also host the company’s extensive global art collection of 5,000 works of art in India
BUSINESS
Flexible office space provider Smartworks’ portfolio to touch 10 million sq. ft this year; to focus on expansion in Tier-2 cities
The company is set to triple its revenue to Rs 1,000 crore in 2022-23 from the current Rs 350 crore in FY22, returning back to pre-COVID-level growth of 300 percent.
BUSINESS
JM Financial buys two apartments in Mumbai for Rs 60 crore
Sources said that both the transactions are part of Nitco promoters' debt settlement process
BUSINESS
Corporate bosses, industrialists snap up uber luxury properties; supply-demand mismatch pushes up prices
Supply is expected to remain tight in 2022 as few luxury residential properties have been launched in the last few years,
BUSINESS
Builders cannot force homebuyers to accept unilateral extensions of the date of possession: Tribunal
A real estate developer shall continue to be bound by the contractual possession date as agreed with the homebuyer at the time of sale, says Maharashtra Real Estate Appellate Tribunal
BUSINESS
Rajan Bharti Mittal sells Vasant Vihar property for Rs 45 crore
Last year, Mittal had bought a 1,200-square yard property at Delhi's Shanti Niketan for around Rs 85 crore.
