2022-09-13
Adani Realty, the luxury property arm of the leading multinational conglomerate Adani Group, is in advanced talks for a merger with Mumbai-based DB Realty, according to media reports. Shares of DB Realty hit their upper circuit. Post-merger, DB Realty would be renamed Adani Realty. The deal will allow the back-door listing of Adani Realty on the exchanges.
2022-09-13
Chhattisgarh government has amended the unauthorized development (Regularization) Act to bring more transparency and simplify the rules to regularize such development in the state. With the implementation of new provisions, the citizens will be able to easily regularize their unauthorized development.
2022-09-13
IGE India, one of the investment vehicles of the Dabriwala family, has bought two super-luxury sea-view residential apartments in a nearly-completed mixed-use skyscraper Three Sixty West in Mumbai’s plush Worli locality for Rs 151 crore. The company has purchased both the apartments spread over a total of 16,072 sq ft on the 58th and 59th floors of the project from the developer, Oberoi Realty’s subsidiary Oasis Realty, that is executing the project.
2022-09-13
LUDHIANA : In a big decision taken by the brick kiln owners as part of their ongoing protest against the Central government, they have decided to halt the sale of bricks for six days. The development might lead to crisis for the construction industry and also impact ongoing residential and commercial construction projects in the city.
2022-09-13
Residents of BPTP township in Sector 37D protested against the developer's decision to hike the maintenance fee to Rs 3.50 per sq ft from Rs 2.19 per sq ft. The residents pointed out that the developer has levied the cost of dewatering, water supply and electrical supply faults, which was supposed to be payable by them. Moreover, the developer has raised the bill of Rs 1500 per family for club charges without any explanation or prior discussion.
2022-09-13
The Pune Metropolitan Region Development Authority (PMRDA) is planning to use remote sensing satellite images and the Geographical Information System (GIS) data along with drones to identify illegal constructions in the area. A pilot was launched in April-May this year which helped identify over 100 constructions. The PMRDA has procured two drones and plans to use them to keep a check on illegal constructions, said officials.
2022-09-13
Sunteck Realty has acquired a 7.25 acres land parcel at Beverly Park, Mira Road, Mumbai under the joint development agreement (JDA) model. The project is estimated to have development potential of approx 2.5 million sq ft built up area and a revenue potential of around Rs 3,000 crore. Post pandemic, Sunteck Realty has done multiple acquisitions to the tune of 25.5 million sq ft in areas taking the total development portfolio to 52.5 million sq ft across 20 projects.
2022-09-12
Sleuths from Criminal Investigation Department (CID) arrested city-based Mantri Developers Private Limited promoter-director Sushil Panduranga Mantri and his son Pratik Mantri, who is also a partner in the company, in the backdrop of complaints from homebuyers over not handing over flats in different projects across the city. Several homebuyers had filed complaints with Subramanyapura police stating that they were cheated of money by the builders, who had lured them with attractive offers, misleading brochures and fake schemes.
2022-09-12
Residents will now have to submit their objections and apply for new property IDs via the Haryana government’s no-dues certificate (NDC) portal since the MCG has decided to discontinue its grievance site for property tax. The civic body has also decided to form a separate NDC cell to immediately resolve property IDs-related grievances.
2022-09-12
Data related to MahaRERA-registered projects may soon be integrated with that of the registration department to check for any violation of rules, senior revenue officials have confirmed. Officials said "We have nearly 3,000 developers registered with us in the state. The integration of our data with that of the registration department will keep a check on the fly-by-night operators and help citizens, who may be caught unawares.
