BUSINESS
Gaming firm Gameskraft buys Rs 130 crore commercial property in Bengaluru
Gameskraft’s deal in Bengaluru and Vijaya Diagnostic Centre’s Rs 35 crore deal in Hyderabad is part of the trend of southern cities showing strong growth in demand, supply and rentals for commercial property, compared with the lacklustre show in the western and northern cities, experts say.
BUSINESS
India’s EV charging ambitions run into unlikely roadblock—RWAs at housing societies
India will need 400,000 charging stations for the two million electric vehicles it is expected to have by 2026 and residents’ welfare associations can make or mar the push for EVs
BUSINESS
Supertech towers demolition order to drill green sense in builders
The top court has delivered a very stern message to builders that environment and public safety is sacrosanct, which should discipline the violaters, but buyers also need to do more checks before selecting a property
BUSINESS
Teamlease co-founder buys apartment in Bengaluru for Rs 24 crore
The five-BHK apartment, spread over ground and first floors, is in the Regency Margosa apartment building on Kasturba Road, an upmarket commercial and residential area
BUSINESS
Apex-Ceyane twin towers not part of any ongoing project: Supertech Group
Timelines of all other projects will be adhered to; promoters are within the country and not travelling, says Supertech MD Mohit Arora
BUSINESS
Homebuyers unhappy, want states to scrap project deadline extension
The Forum For People's Collective Efforts has demanded that Maharashtra, Uttar Pradesh and Karnataka roll back the extended deadlines and no state be allowed to offer such relief to builders at this cost of homebuyers
BUSINESS
SBICAP Ventures completes 1,100 stuck homes in five stressed projects
SBICAP Ventures, the manager for the government's Rs 25,000 crore stressed-asset fund, plans to complete 10,000 homes by the end of the financial year.
BUSINESS
Deepika Padukone, father buy serviced apartment in Bengaluru
The sale deed was registered on August 7, 2021 and the stamp duty paid by them was Rs 34.64 lakh, the documents showed.
BUSINESS
Supertech case: ‘Demolition Man’ explains how he razes buildings to the ground
Sharad B Sarwate is an expert in pulling down buildings. He was roped in by the Kerala government to help guide the demolition of apartments in Maradu, Kochi after a Supreme Court order in 2019. He weighs in on the demolition of the Supertech Twin Towers in Noida that is required by a Supreme Court ruling on August 31.
BUSINESS
Supreme Court order in Supertech Twin Towers case a reform in itself: homebuyers
The judgment sends out a message that authorities’ power to approve can be scrutinised for legality and a structure can be demolished if the permissions are found to be illegal
BUSINESS
Q1 GDP: Localised lockdowns during the second wave of COVID-19 helps construction activity to grow by 68.3% y-o-y
Financial, real estate and professional services sector manages to achieve 98.5% of pre-pandemic level (April-June quarter of FY2019-2020) in terms of gross value addition
BUSINESS
Infosys co-founder Kris Gopalakrishnan buys two properties in Bengaluru’s billionaire street for Rs 76 crore
Kris Gopalakrishnan, now chairman of Axilor Ventures also bought two properties at JP Nagar in Bengaluru in the past one year.
BUSINESS
Ekta Kapoor sells plot in Pune to family-owned firms
Directors of one of the firms that took possession of the land are the soap opera queen’s brother Tushar Kapoor and father Jeetendra. A stamp duty of Rs 80 lakh has been paid on the transaction.
BUSINESS
Property deal registrations in Mumbai down 29% MoM in August
Stamp duty collection is at around Rs 450 crore in August 2021
INDIA
SC orders demolition of Supertech twin towers in Noida; observes construction was illegal as consent of buyers not taken
The Supreme Court observed that diverse and unseen groups of flat buyers suffer the impact of the unholy nexus between builders and planners.
BUSINESS
NBCC receives around Rs 100 crore from SBICap for six stalled Amrapali projects: Sources
With this, construction work on the six projects will be expedited, NBCC sources told Moneycontrol.
BUSINESS
SC orders transfer of former Unitech directors from Tihar jail to separate jails in Mumbai for colluding with jail authorities
The apex court also directed Delhi Police Commissioner to conduct a probe into the matter and submit a report in four weeks
BUSINESS
Jindal Group scion buys apartment for Rs 21 crore in Delhi’s Jorbagh
Businesswoman Seema Jindal, founder of Nourish Organics, purchases property that comes with terrace rights as well as three parking slots.
BUSINESS
SC permits Unitech Group's new board of management to discuss claims with three ARCs
The top court also allowed the sub-committee to hold talks with Noida, Greater Noida, and Haryana authorities, which has raised objections to the resolution plan presented by the new board, about the dues and the amount payable by the Unitech Group.
BUSINESS
About 26% of mid-segment homebuyers moved residences within pandemic period: Survey
Nearly 40% respondents across income segments in India are more likely to buy a second home due to the pandemic, says Knight Frank Global Buyer Survey
BUSINESS
Explained: All you need know about the government plan to monetise urban real estate assets under NMP
The government has identified redevelopment of seven General Pool Residential Accommodation Colonies located in Delhi’s Sarojini Nagar, Naoroji Nagar, Netaji Nagar, Sriniwaspuri, Thyagraj Nagar, Mohammadpur and Kasturba Nagar, which involves an estimated Rs 32,276 crore investment.
BUSINESS
PharmEasy founder Siddharth Shah buys apartment in Mumbai for Rs 40 crore
Online pharmacy chain PharmEasy had recently acquired Thyrocare. The apartment is located off Carter Road at Khar West in Mumbai.
BUSINESS
Director Abhinay Deo buys an apartment in Bandra for Rs 10.75 crore
The housing unit is located in a project called Aureate where actors Malaika Arora, Arjun Kapoor, Sonakshi Sinha also own apartments.
BUSINESS
National Monetisation Pipeline: Urban real estate, warehousing and stadiums in Rs 6 lakh crore programme
Rs 15,000 crore expected to be monetised through urban real estate; close to Rs 29,000 crore is estimated from monetising warehouses and around Rs 11,450 crore from stadiums.
