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Daily interesting real estate news

Can't differentiate between areas under Lutyens Bungalow Zone, Centre tells Delhi HC

The Centre told Delhi high court it has a common policy on remapping of Lutyens Bungalow Zone (LBZ) for all colonies and these can't be segregated.

Kansai Nerolac Paints' net profit up 27.42% in Q2 FY23

Kansai Nerolac Paints (KNPL) has reported a growth of 27.42 per cent in its net consolidated profit during the quarter ended September 30, 2022. Its profit after tax (PAT) stood at Rs 111.21 crore in Q2 FY23 as against Rs 87.28 crore it registered in the corresponding quarter of the previous fiscal.

Ahmedabad: Sanghavi Realty buys 5,400 sq yard plot for Rs 160 crore

Ahmedabad-based developer Sanghavi Realty purchased the 5,400-square yard plot for an estimated Rs 160 crore for a commercial project.The plot was owned by the family of a city-based entrepreneur who passed away recently. Siddharth Sanghavi, the promoter of Sanghavi Realty, however, remained tight-lipped about the deal.

RERA scam in Kalyan: Out of 65 developers, bank accounts of 40 frozen

The Special Investigation Team (SIT) probing the RERA scam in Kalyan-Dombivli have got freeze orders for the bank accounts of 40 developers out of 65 developers from Kalyan-Dombivli, who were involved in the RERA scam. developers had sold many of the flats from these illegal buildings constructed in the last three years.

China Evergrande unit gets notice for $4.48 billion loan from Shengjing Bank

Debt-laden property developer China Evergrande Group's unit received a notice of enforcement for unrecoverable funds from Shengjing Bank Co Ltd. The bank said it failed to recover funds totalling 32.595 billion yuan ($4.48 billion), which was provided to the unit from 2020 to 2021, according to Evergrande.

Maharashtra to push e-registration of first-sale units by developers

The state property registration department is gearing up ensure that at least 20% of first-sale (brand new) units are registered online by builders, after starting e-registration from developers’ offices. The total expected units to be registered from developers’ offices is around 1.43 lakh units. For now, daily registration is limited to 10-15 documents.

PM inaugurates 3,024 newly constructed flats for EWS in Delhi

PM Narendra Modi inaugurated 3,024 newly constructed flats for the Economically Weaker Sections in Delhi as part of an in-situ slum rehabilitation project. The in-situ slum rehabilitation in 376 Jhuggi-Jhopri clusters is being undertaken by the Delhi Development Authority in line with the pm's vision to provide housing for all.

Telangana government to regularise land in 44 colonies in six assembly segments

In a relief to people living in 44 colonies spread across LB Nagar and five other assembly constituencies, the state government has decided to regularise land up to 1,000 square yards. a nominal amount of Rs 250 per square yard would be charged for regularisation.

Kajaria Ceramics' net profit dips 42.26% in Q2 FY23

Kajaria Ceramics has reported a dip of 42.26 per cent in its net consolidated profit during the quarter ended September 30, 2022. Its profit after tax (PAT) stood at Rs 68.89 crore in Q2 FY23 as against Rs 119.32 crore it registered in the corresponding quarter of the previous fiscal.

CBRI develops 'affordable' smart face mask for construction workers

Researchers at Roorkee-based Central Building Research Institute (CBRI) have developed a battery-powered smart face mask for labourers deployed at building construction sites. The researchers said the smart face mask gives pure air for breathing to users as it has multi-layer filters such as electrostatic, HEPA and laser arrangements.