2022-09-26
China Construction Bank Corp will set up a 30 billion yuan ($4.2 billion) fund to buy properties from developers, as policy makers beef up efforts to contain a real estate crisis that's weighing on the economy. The fund will "invest in existing assets" of real estate companies and renovate the properties into rental housing.
2022-09-26
The UT administration is all set to hold its first auction of industrial plots on a freehold basis. Around 30 plots have been identified in the industrial area by the UT estate office for offering for sale. UT administrator Banwarilal Purohit had approved auctioning of all UT vacant/unsold industrial and commercial properties on a freehold basis.
2022-09-26
Builders registering their projects with MahaRERA will now have to go through stricter scrutiny for consumers’ benefits. Currently, the state has 37,823 Real Estate (Regulation and Development) Act-registered projects. However, applications for 1,096 projects are in the process of finalisation.
2022-09-25
An engineers’ body has filed a complaint against the Greater Ludhiana Area Development Authority (Glada) with the chief minister’s office (CMO) over illegal colonies mushrooming under its jurisdiction. There are many more such illegal localities mushrooming in various locations like Rahon Raod, Jaspal Bangar, Churpur Road, Balloke, Hambran Road.
2022-09-25
Indore district administration sent a proposal for revenue department to declare 7.911 hectare (19.548 acres) land of illegally developed Heena Palace Colony and Shriram Griha Nirman Sanstha as of government’s property and further developing ‘Suraaj Colony’ for poor people. Instructions have been issued to IMC, T&CP and the revenue department to put a ban on giving any permission along with registration of property (sale/purchase) of the land.
2022-09-25
The Bombay high court has recently set aside the NMMC declared reservations on Cidco-owned plots. Cidco had alleged that NMMC had illegally exercised its power. The reservations form part of the draft development plan. Builders have moved HC and filed two separate PILs.
2022-09-25
British landlord Land Securities Group Plc had sold 21 Moorfields, EC2 office property in London to an investment vehicle managed by Australia's Lendlease Group for 809 million pounds ($917.08 million). A 568,500 square feet property, 21 Moorfields was fully pre-let to Deutsche Bank on a 25-year lease for housing the German firm's London headquarters.
2022-09-25
UP RERA has imposed penalty of Rs 1 crore 39 lakhs against 13 promoters after reviewing the status of compliance of its orders by the promoters. The authority is making constant efforts to ensure enforcement of its orders and provide speedy justice to the aggrieved allottees. The action of penalty against the guilty promoters is an important step towards compelling them to comply with the orders of the authority.
2022-09-25
The Pune Municipal Corporation has sealed 1,355 properties in its limits for tax default. The civic administration had issued notices for recovery of tax. But the owners did not respond to them.The civic administration has recovered Rs92 crore from some owners who cleared the dues after the sealing process started.
2022-09-25
In a good news for the hassled home buyers of Amrapali Group, the Supreme Court was informed that 11,858 flats will be delivered in 2 to 3 months of which 5, 428 units will be handed over the possession in October. In the upcoming festive season next month 5,428 flats which have been completed by the NBCC will be given to the home buyers with electricity and water connection.
