2023-08-10
In May 2022, MahaRERA ordered Karjat-based developers - Montang Infrastructure to pay compensation to the complainant in a sum of Rs 36 lakh. However, because the developer failed to pay the sum, MahaRERA issued a warrant to the Raigad collectorate to reclaim the money. The Karjat Tehsildar then auctioned off two flats of the Montang Infrastructure.
2023-08-09
Tata Group’s real estate development business, Tata Realty and Infrastructure Ltd has recently acquired a land area spread across 25.3 acres in Doddanekundi near the Whitefield locality in Bengaluru for over Rs 986 Crore. The company finalized the deal with Graphite India along with its subsidiaries TRIL Bengaluru Real Estate Five Ltd and TRIL Bengaluru Real Estate Six Ltd.
2023-08-09
The real estate firm Macrotech Developers Ltd recently purchased five land plots in Bengaluru and the Mumbai region during the quarter from April to June. These acquisitions are part of the company's goal to create housing projects worth Rs 12,000 billion. Macrotech Developers' MD and CEO, Abhishek Lodha, stated that the company successfully added projects worth Rs 120 billion in the first quarter of this fiscal year, meeting their annual target of Rs 175 billion.
2022-12-17
The deadline to clear the debris from the twin towers’ demolition site in Sector 93A elapsed on November 28, but only 5,000 of the 28,000 tonnes of rubble has, so far, been transported to the construction and demolition (C&D) processing centre in Sector 80. Officials attribute the delay in clearing all the debris to various reasons, including the implementation of the graded response action plan (GRAP) to contain pollution to non-payment of fees for processing the rubble by the developer, Supertech.
2022-12-17
Illegal extensions such as extra rooms or floors built in Gujarat Housing Board (GHB) accommodations in the city may not be regularized under the new Gujarat Regularization of Unauthorized Development Ordinance (GRUDO), 2022. In its 2011 avatar, the impact fee law did not permit such regularization either unless an NOC was procured from the board. The AMC clarified that there is no provision in the ordinance to regularize illegal constructions in GHB colonies.
2022-12-17
Realty firm Elan Group has raised USD 60 million from global investment firm PAG to fund construction of projects, reduce debt and expand business. The company has secured a second round of funding from PAG. In August this year, it had raised USD 50 million from PAG. The investment will be used towards growth capital to endorse existing debt and to scale up construction of its new luxury housing project -- "The Presidential", located in Sector 106 Gurugram.
2022-12-17
District administration has now decided to conduct an awareness drive among residents to register their flats before moving in - an attempt to generate more revenue. With four months for the financial year to end, the stamp and registration department has failed to achieve even 50% of its revenue target, collecting Rs 1,887 crore between April and November out of its Rs 4,062 crore target. The district administration has now decided to conduct an awareness drive among residents to register their flats before moving in - an attempt to generate more revenue.
2022-12-17
Gopal Srinivasan, Chairman and Managing Director of TVS Capital Fund had bought a residential property for around Rs 15 crore in one of the most significant property transactions in Bangalore in 2022. The property located at Rest House Crescent Road is spread over 6000 sq ft with 2600 sq ft built-up area. It includes a dwelling house, ouhouses, garage and other construction.
2022-12-17
British banks and building societies expect to lend 23% less to home-buyers next year, taking mortgage volumes back to their level before the COVID pandemic after a two-year boom that lifted house prices by more than a quarter. Trade body UK Finance forecast that gross mortgage lending for house purchase would fall to 131 billion pounds ($161 billion) in 2023 from 171 billion pounds this year and a peak of 189 billion pounds in 2021, when pandemic-related tax incentives were in force.
2022-12-17
At a meeting with principal secretary (finance) Akhil Arora, state’s real estate developers said they pay stamp duty while purchasing land and on the execution of development agreement. Again, when they sell the housing units, the buyers are required to pay stamp duty. Credai-Rajasthan president Dhirendra Madan said, “The stamp duty and registration fees are charged twice for the same land which creates unnecessary burden on the buyer and investor.”
