BUSINESS
Maradu CRZ case: SC slams Kerala Chief Secretary for not complying with orders to demolish the complexes
The apex court said that it will pass a detailed order on September 27 regarding the demolition of around 400 flats in Ernakulum's Maradu area.
BUSINESS
Corporate tax rate cut to spur demand for warehousing, commercial real estate
It would specifically support developers operating in special economic zones, realty experts said.
BUSINESS
Govt expected to be ready with Rs 20K cr stressed asset fund for stalled real estate projects within two mths
Realtors met Finance Ministry officials on September 19 to discuss about modalities of the stressed asset fund and procedures.
BUSINESS
Nestaway launches co-living space vertical; to invest $10 million
The company plans to expand to Indore, Manipal, Chandigarh, Vizag, Lucknow, Ahmedabad, Cochin, Goa and Vellore.
REAL-ESTATE
IWG plans to double its co-working network in India by 2022
The company is considering introducing three global brands - HQ Global Workspaces, Signature by Regus and a CXO club to India next year
BUSINESS
Cost of land biggest challenge for affordable housing: Pradeep Aggarwal, Signature Global
If DDA decides to auction its land parcels to private developers, it would be increasing the cost. Instead, they should fix the land price, says Pradeep Aggarwal of Signature Global
REAL-ESTATE
DDA approves TOD policy to trigger development around transit nodes in Delhi
Other decisions taken at the DDA meeting included some amendments to the Master Plan 2021, fixation of amalgamation charges for commercial properties, relaxation of measures to dispose of pending inventory
REAL-ESTATE
All you need to know about last mile funding of Rs 10,000cr for the real estate sector
Experts feel the fund seeks to address key issues of project funding, completion and delivery but adequacy of the fund, as well as the establishment of funding sources are issues that may pose challenges in its implementation
BUSINESS
Bring RERA authorities under CVC's ambit, homebuyers write to PM Modi
Buyers also want these officials be brought under the ambit of the Central Vigilance Commission (CVC) and all orders to be subjected to an audit by the Comptroller Auditor General of India (CAG) to keep check on the adherence to RERA provisions
BUSINESS
Rs 10,000 cr stressed asset fund unlikely to resolve problems of homebuyers stuck in projects in NCR
For delayed and stalled projects this will be a major problem, given that most of such projects are under NCLT and NPA, and will not get the benefit of this stress fund
BUSINESS
FM Nirmala Sitharaman announces Rs 10,000cr fund for last-mile funding of stuck housing projects
The unfinished projects should not have become NPA and should not have been pending in NCLT
BUSINESS
Ghazipur landfill: Need to find a permanent solution, says Gautam Gambhir
The Ghazipur landfill, part of Gambhir’s East Delhi constituency, is spread across 70 acres. Over 3 million people live within 10 km radius of the landfill.
BUSINESS
India@75: Monsoon session in 2022 may be held in a redesigned Parliament building
There are also plans to redevelop the Central Vista, a 3-km stretch from the Rashtrapati Bhavan to the India Gate, and construct a new common Central Secretariat for offices of all ministries.
BUSINESS
NCDRC orders developer to refund Rs 50.94 lakh to a buyer
The homebuyer had booked an apartment in a Gurugram project in 2014 and was promised it would be delivered within 36 months. The project has not been delivered till date
BUSINESS
Amrapali case: Supreme Court directs court receiver to monitor progress of project construction
The court receiver has also been directed to finalise the tripartite agreements and verify documents of homebuyers.
REAL-ESTATE
Will a Rs 10,000cr stressed asset fund rescue the real estate sector?
In case a stressed asset fund is constituted, experts feel developers should not be given a bailout package
BUSINESS
Housr plans to invest over Rs 346 crore in co-living space
It plans to expand Indian footprint to over 50,000 beds and 20 properties by tapping markets such as Noida, Mumbai and Kota.
BUSINESS
Car parking, swimming pools, clubs and gyms to attract lower GST
With this ruling the uncertainty surrounding tax treatment of such ancillary charges may come to an end.
BUSINESS
Lenders reject Suraksha Realty’s bid for Jaypee Infratech a second time
Homebuyers say that they are now focusing on the NCLT hearing on May 6 and are hopeful that the resolution process would get an extension. They are definitely not in favour of the company going into liquidation.
BUSINESS
NBCC asks court-appointed insolvency resolution professional to reconsider its bid
In a regulatory filing, NBCC said it has got the necessary approvals from the Ministry of Housing and Urban Affairs and other concerned departments for its bid.
REAL-ESTATE
Jaypee case: NBCC receives approvals from govt departments for revised offer
Financial creditors and home-buyers are presently voting on Suraksha Realty's bid. The voting process started on Wednesday and would conclude on May 3
REAL-ESTATE
RERA second anniversary: Are the Wild West days of Indian real estate over?
While redressal of complaints is not satisfactory for many, consumers are coming forward in large numbers to register complaints across states.
REAL-ESTATE
Eros Group to invest Rs 125 crore in Greater Noida residential project
The real estate developer will launch four towers initially, while the remaining six towers will be opened depending on demand.
INDIA
Amrapali case: SC accepts forensic report detailing siphoning of homebuyers’ money
In their report forensic auditors said that the total diversion of Amrapali and their key associates was amounting to Rs 3500 crore.
