2022-09-27
IDFC First Bank has picked up a total of 18 floors of office space spread over nearly 4.5 lakh sq ft in a commercial project Quantum in Thane from Hiranandani Group on a long-term lease of 10 years including a renewal option. This is one of the largest office lease transactions concluded this year. The private-sector bank will be paying Rs 202.5 crore as rental for the office space over the first five-year tenure.
2022-09-27
Andhra Pradesh is moving towards purification of land records to eventually reach a stage in future where the state would stand a guarantor to every genuine patta holder. The government's recent memorandum of understanding (MoU) with Hyderabad-based Nalsar's Centre for Tribal and Land Rights (CTLR) is seen as a step in the right direction because CTLR has acquired expertise in the area of rights of people over land in various areas.
2022-09-27
Jaipur Metro Rail Corporation Limited (JMRCL) officials are apprehensive about the fate of Line-2 of Jaipur Metro as the state government is ‘still showing no interest’ in the project and project cost is escalating. The cost for Line-2 was almost Rs 10,000 crore. Since the government was reluctant to spend such a huge amount, Metro officials prepared another DPR in 2021 in which the project cost came down to around Rs 4,600 crore.
2022-09-27
District Consumer Forum Kanpur Nagar ordered Kanpur Development Authority (KDA) to pay interest at the rate of seven percent for keeping with it the money of the complainant for two years. The Forum also directed to pay a sum of Rs 5000 as legal expenses to the complainant.
2022-09-27
MUMBAI: A developer has encroached upon a 6,000 sqm plot reserved for a playground in Khar (w), flouting a 1995 Supreme Court order. The report states that the rehab building is constructed up to the plinth level and compound wall is still to be constructed. It also informs that on vacant land (play ground), there exists labour sheds measuring 137.79 sqm.
2022-09-26
Indore Municipal Corporation (IMC) claimed to have equipped over 1 lakh properties in Indore with rainwater harvesting systems. As many as 1,05,000 properties have been equipped with a rainwater harvesting system and are also geotagged under the initiative. If a 1000 sq ft building installs a rooftop rainwater harvesting system, it conserves around 50,000 litres of rainwater.
2022-09-26
Stamp duty, a tax on house purchases, will be cut to help families to afford to buy homes. The nil-band threshold for first-time buyers will also increase to 425,000 from 300,000 pounds, he told lawmakers, adding that the changes are permanent and effective immediately.
2022-09-26
The Maharashtra State Energy Distribution Company Limited (MSEDCL) restored power supply for essential services in the Lavasa hill city project. The MSEDCL had disconnected 131 connections in the hill city project for non-payment of dues of running up to Rs 22.78 crore pending since August 2018. Seven of the connections were restored.
2022-09-26
Professional services firm EY India has renewed its lease for an office spread over 40,330 sq ft on an entire floor at commercial tower The Ruby in central Mumbai’s Dadar locality for the next 30 months. The firm will be paying a total nearly Rs 20 crore as rentals for this office during the entire tenure of the lease based on monthly rentals of Rs 165 per sq ft.
2022-09-26
The CHB has issued a final letter to the Punjab and Haryana governments, PGI and Chandigarh administration to give their consent and deposit 25% amount for the construction high-end flats at IT Park or else the scheme would be withdrawn in two months. The consent to purchase of flats at the IT Park, Chandigarh, along with upfront fee of 25% is still awaited.
