2022-10-28
PNB Housing Finance has reported an increase of 11.66 per cent in its net consolidated profit during the quarter ended September 30, 2022. Its profit after tax (PAT) stood at Rs 262.63 crore in Q2 FY23 as against Rs 235.21 crore it recorded in the corresponding quarter of the previous fiscal.
2022-10-28
Bengaluru-based property developer Century Real Estate is in talks with global and domestic funds to raise over Rs 1000 crore for commercial property development. The company, which currently has a 2.5 million sq ft portfolio of commercial properties, plans to double its office portfolio in the next four to five years.
2022-10-28
To avoid unnecessary disputes and litigations during sale and purchase of property, finance minister Harpal Singh Cheema and revenue minister Brahm Shanker Jimpa decided to reduce the process of issuing no objection certificates (NOCs) from 21 days to 15 working days. NoC will be issued in 5 working days under Tatkal for the convenience of NRIs and other such persons who need it in a short time span.
2022-10-28
Sales of new U.S. single-family homes dropped in September and data for the prior month was revised lower, more evidence that higher mortgage rates are choking the housing market. New home sales decreased 10.9% to a seasonally adjusted annual rate of 603,000 units last month. August's sales pace was revised down to 677,000 units from the previously reported 685,000 units.
2022-10-28
Egyptian property developer SODIC has offered to buy Orascom Real Estate for $125 million, the residential compound builder's parent company Orascom Development Egypt said. Abu Dhabi's Aldar Properties and state holding company ADQ bought a controlling stake in SODIC late last year, and the purchase of Orascom Real Estate would further expand their Egyptian real estate business.
2022-10-28
The Nashik Municipal Corporation (NMC) has started work on the development of the 26 gaothan areas within its limits through cluster projects. The state government had introduced the unified development control promotion and regulations (UDCPR) in December 2020. The new unified DCPR includes development for gaothan areas, but the area requirement is at least 4,000 sqmt (1 acre) of land.
2022-10-27
The Housing Department has appealed to Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy for immediate release of Rs 2,361 crore to make progress in the construction of houses under the Pradhan Mantri Aawas Yojana. The Government of India has already released Rs 4,032 crore under PMAY-U but the AP government released only Rs 2,556 crore,now diverting another Rs 1,476 crore.
2022-10-27
The development of around four lakh square metres of land at prime locations across Pune and Pimpri Chinchwad civic limits would be governed by the Maharashtra Metro Rail Corporation Limited (MMRCL) or MahaMetro. The state government has now given "special planning authority status" to MahaMetro to look after these lands "in larger public interest".
2022-10-27
Going by the momentum in housing sales in the ongoing festive period and that of of the first three quarters this year, total housing sales will exceed 3.6 lakh units in the seven cities in 2022. The January-September period of 2022 housing sales and new launches surpass the full-year readings of 2019 with approx. 2.73 lakh units sold in 9M 2022 and new launches at 2.65 lakh units.
2022-10-27
The Ontario government was raising the real estate speculation tax for foreign buyers to 25% from 20% under a plan to tackle a housing crisis in Canada's most populous province. Ontario, home to Canada's financial capital of Toronto, is projected to have more new households than new homes by 2030, according to Canada's national housing agency.
