2022-09-08
A winding-up petition has been filed against cash-strapped property developer Sunac China at the Hong Kong High Court, the judiciary's website showed. The firm is working to restructure its offshore debt after missing some bond payments earlier this year, adding to a wave of defaults in China's debt-laden property sector.
2022-09-08
The town planning department of the city corporation has warned that registered engineers would be held responsible for deviations or violations of building plans. In an online meeting organized by the city corporation, executive engineer (planning) K Karupathal warned that registered engineers would face action if there were any violations found in the building construction.
2022-09-08
The Nashik Municipal Corporation (NMC) has brought 3,000 additional properties under the tax net over the past two months, bringing in revenue of Rs 4.5 crore. As per the norms, it is mandatory for the builders to obtain building completion certificates (BCCs) from the civic body after the completion of the buildings.
2022-09-08
India is developing its engineering sector to become a global superpower. The Engineering Export Promotion Council (EEPC) promotes the export of Indian engineering goods, products, and services worldwide. Ishan International has been a certified star export house recognized by EEPC for the past 26 years due to its 80% market share in the Southeast Asian market.
2022-09-08
Municipal Corporation of Delhi (MCD) authorities have taken a strict action against property tax defaulters, and nine properties in its Rohini Zone were attached for defaulting. The owners of these properties have a total accumulated due tax worth Rs 80 lakh. Property tax department of the Rohini Zone was pursuing these cases for a long time and had sent many notices under appropriate sections of Delhi Municipal Corporation Act, 1957, in the past.
2022-09-08
Max Ventures & Industries Ltd (MaxVIL) will acquire Acreage Builders at an enterprise value of Rs 322.50 crore as part of its strategy to expand its real estate business in Delhi-NCR. Acreage Builders owns 7.15 acres of land at Golf Course Road in Gurugram. MaxVIL, which is part of Max Group, plans to develop a commercial project with a leasable area of 1.6 million square feet on this land parcel, marking its entry into Gurugram real estate market.
2022-09-08
The government of Maharashtra has started the e-registration of properties to be sold by realty developers in a bid to digitise it involve usage of blockchain technology. With this, Maharashtra has become the first state to enable e-registrations of properties. Initially the facilty will be enabled for e-registration of agreement of first sale and resale transactions will not be part of it.
2022-09-07
Chinese property developer Kaisa Group aims to finalise an offshore debt restructuring proposal in the fourth quarter after China's party congress in October. Kaisa is working to restructure its offshore debt after missing some debt obligations last year. With $12 billion of offshore debt, it is China's largest issuer of offshore debt among developers after China Evergrande Group.
2022-09-07
Property registration in the state may become free of hassles. The government is set to launch a software, Cauvery 2.0, to ensure seamless registration of properties in all sub-registrar offices. Revenue minister R Ashoka told reporters the new software, which is both people- and department-friendly, is being tested at a sub-registrar's office in Chincholi of Kalaburagi district. It will be launched across the state from November 1.
2022-09-07
Canara Bank has hiked the benchmark 'marginal cost of funds-based lending rate' (MCLR) by up to 0.15 per cent, a move that will make loans costlier. The benchmark one-year MCLR will be 7.75 per cent against the existing rate of 7.65 per cent. The one-year rate is used to fix most consumer loans such as auto, personal and home loans.
