REAL-ESTATE
Self-redevelopment of properties could be a trillion dollar opportunity
The primary challenge for self-redevelopment is do with the residents themselves. Consent of members of the cooperative society is essential and so is the trust factor.
BUSINESS
Ascendas Singbridge acquires 12.20-acre land parcel in Chennai
With a total development potential of 2.30 million sq ft, the land parcel will be developed into an IT park with supporting amenities.
BUSINESS
Government constitutes committee to look into difficulties faced in implementing RERA
The decision to form the committee comes after four RERA workshops were organised in Pune, Chennai, Delhi and Ranchi where stakeholders, including homebuyers, had given suggestions for effective implementation of RERA
REAL-ESTATE
51 km of Metro network to become operational in Delhi-NCR in next three months
This includes the Dilshad Garden to New Bus Stand corridor in Ghaziabad, the Blue Line extension from Noida Sector 34 to Electronic City and the Aqua Line connecting Noida and Greater Noida
REAL-ESTATE
New Year gift! Government extends CLSS scheme by a year for first-time homebuyers
The Credit Linked Subsidy Scheme for the Middle Income Group (CLSS for MIG) was announced by Prime Minister Narendra Modi on December 31, 2016.
REAL-ESTATE
Co-working becomes the new poster boy of commercial real estate market in 2018
As per data made available by real estate consultants, total office absorption across the top 7 cities is geared to cross 39 mn sq ft in 2018
REAL-ESTATE
Affordable housing kept the residential market afloat in 2018
As per estimates, average property prices remained largely static across the top 7 cities in 2018. At the pan-India level it saw only 1 percent increase
REAL-ESTATE
Buying property online is akin to finding the right life partner: Magicbricks CEO
The portal plans to address all segments of real estate and of late has been focusing on office space, shops, organised retail, warehousing and even co-working spaces
BUSINESS
NCDRC order that builders cannot cite excuses for delay in delivery to have pan-India impact
Most common excuses given by real estate developers range from hurdles in land acquisition, labour issues, restrictions on extraction of ground water, NGT orders
REAL-ESTATE
Supreme Court directs forensic auditors to examine trail of Rs 2,990 cr allegedly diverted by Amrapali
Forensic auditors have also been directed to examine the sub-leases granted by Amrapali Group by next date of hearing - January 16, 2019.
REAL-ESTATE
UP RERA to deregister developers or take over unfinished projects if builders fail
Hopes to deliver almost 30,000 delayed units by December 2019
BUSINESS
Is your builder passing on the benefit of lower GST to you?
The government’s note on Saturday that asked builders to reduce the prices of properties and pass on the benefit of the lower GST rate appears to be an outcome of anti-profiteering complaints against some builders falling out of line
REAL-ESTATE
Jaypee homebuyer moves SC against August order; NCLT fixes insolvency commencement date as Aug 9, 2017
In October, homebuyers had sought a clarification on the 'question of law' that pertains to the procedure for determining the voting percentage among the committee of creditors.
BUSINESS
Explainer | Will Supreme Court orders in Amrapali, Jaypee, Unitech cases restore homebuyers' trust?
Post the Jaypee, Amrapali and Unitech case, homebuyers are definitely more informed. Despite that, the trust deficit is bound to continue as a majority of them are still apprehensive about under construction projects.
REAL-ESTATE
Besides corporates, RWAs too can get public art installed, say draft public art guidelines
Public art can come up in parks, bus stops, foot over bridges, river fronts, green belt and even public toilets
REAL-ESTATE
SC directs attachment of more properties of Amrapali group
Luxury cars of the directors have also been attached. SC orders Debt Recovery Tribunal to sell the assets. Next date of hearing is on December 12.
BUSINESS
Greater Noida Authority approves phase 2 of Aqua Line
The Aqua Line extension will comprise nine stations, officials said.
REAL-ESTATE
Supreme Court allows auction of Unitech properties
At a brief hearing, Justice Chandrachud indicated that the issue of conducting a forensic audit of Unitech's financials may come up on December 7.
INDIA
Experts label Maharashtra’s tax surcharge on home sales a sentiment dampener
Government must keep affordable housing away from 1 percent increase in stamp duty
REAL-ESTATE
Don't entertain changes in RERA for 3 years: Homebuyers write to PM, Hardeep Puri
Model rules must include penalties for officers of state administration who delay real estate projects
BUSINESS
Lodha to exit UK property market; to sell 2 projects in London for Rs 4,200 cr
The UK projects are scheduled for completion soon – one in the first quarter of 2019 and the second one in quarter four of 2019.
BUSINESS
Jaypee Infra Committee of Creditors meet to discuss evaluation criteria
Sources said that L&T Infrastructure may not be invited for bidding as the company is only given a conditional bid for taking over Yamuna Expressway project.
REAL-ESTATE
Demand for industrial, warehousing, data centres set to grow along KMP Expressway
Infra loop likely to be a ‘game changer’ for the realty sector; growth along the stretch to be gradual, may take five to 10 years
BUSINESS
Jaypee Infratech to hold Committee of Creditors meeting on November 27
Formal agenda of the meeting not disclosed but sources say evaluation matrix and process note to be discussed and voted at the CoC meeting
