2023-08-26
Real estate firm Magicbricks' Rental Index shows that across 13 major Indian cities, rental searches increased by 18.1% quarter over quarter while listings increased by 9.6% and rentals increased by 4.9%. The three cities with the biggest quarterly increases in average rent were Gurugram (5.1%), Navi Mumbai (8.1%), and Bengaluru (8.1%). The rentals, however, slightly decreased from one quarter to the next in Mumbai (-0.1%) and Delhi (-0.9%).
2023-08-26
The Chennai-based reality company Casagrand has announced its desire to invest 8,000 crores over the next three years, despite the fact that there are a lot of unsold apartments in the Mumbai metropolitan area (1,93,908 units). The company's managing director, Arun MN, told reporters on Monday that he intends to build 20 million square feet in Mumbai and Pune. Casagrand is the second large player to research the market in Maharashtra after the Prestige Group of Bengaluru.
2023-08-26
Emaar Properties, a Dubai-based developer of real estate, has signed a joint venture agreement with Worldwide Resorts & Entertainment to develop a 73.60-acre plot of land in Gurgaon for Rs 278 crore. This was Emaar India's third contract since December 2021, and it was signed in June 2023. Emaar and Worldwide Resorts & Entertainment had agreed to jointly build a 119-acre land lot for Rs 375 crore in December 2021.
2023-08-26
As Patna Smart City Limited (PSCL) moves forward with its plan to install 3,300 closed-circuit television (CCTV) cameras throughout the city, locals are pushing for the extension of surveillance systems into residential neighborhoods and link roads. Locals are emphasizing the need to prevent minor crimes like pickpocketing and snatching in these places because a sizable number of cameras are already in operation.
2023-08-26
On Tuesday, Uttar Pradesh RERA chairman Sanjay Bhoosreddy urged real estate promoters in the state to register their projects with the authority and fulfill their role of protecting the interests of stakeholders, particularly homebuyers. He also emphasized to promoters the importance of contributing to the development of a strong and evolving real estate sector by complying with the regulations. The UP RERA has so far registered 3,467 projects. According to a formal announcement, of these, 1,598 are registered in the National Capital Region (NCR), and 1,869 are in portions of the state outside the NCR.
2023-08-25
According to records discovered by IndexTap.com, Sumir Chadha, Co-Founder and Managing Director (MD) of investment firm West Bridge Capital, paid Rs 96 crore for an apartment in Mumbai's Oberoi 360 West with a total area of 6,779 square feet (sq ft). According to records discovered by IndexTap.com, Sumir Chadha, Co-Founder and Managing Director (MD) of investment firm West Bridge Capital, paid Rs 96 crore for an apartment in Mumbai's Oberoi 360 West with a total area of 6,779 square feet (sq ft).
2023-08-25
According to a survey by Knight Frank, prices in Mumbai's premium residential districts increased by 5.2 percent in the second quarter of the calendar year 2023 (Q2 CY2023) compared to the prior year, ranking as the sixth-highest yearly gain in prices. Bengaluru placed 20th with a growth of 3.6 percent year-over-year (YoY) in Q2 2023, and New Delhi ranked 26th with an increase of 0.2 percent YoY, as per the Prime Global Cities Index Q2 2023 report.
2023-08-25
An interim order by the Deputy Registrar of Cooperative Societies (DRCS) staying the registration certificate of the residents' association registered under the Cooperative Societies Act in Bengaluru was overturned by the Karnataka High Court, providing relief to more than 200 homebuyers of the Klassik Landmark apartment. The DRCS had previously granted an interim stay on the Residents Welfare Association (RWA) of Klassik Landmark flats' registration certificate under the Karnataka Cooperative Societies Act (KCSA), 1959. The court has now given the Deputy Registrar of Cooperative Societies two months to consider the appeal and dispose of the case.
2023-08-25
Developers of real estate Shriram Properties Limited (SPL) and ASK Property Fund (ASK) have disclosed a joint investment of Rs 206 crore to acquire 100 percent development rights in a stressed project that is currently under construction in Chennai. The project is being introduced as Shriram 122 West and will be bought through Shrivision Elevations Private Limited, a wholly-owned subsidiary of SPL.
2023-08-25
The wait just got longer for hundreds of prospective homeowners. The Maharashtra Real Estate Regulatory Authority (MahaRERA) has extended the deadline for developers of seven projects in Maharashtra. In their request for an extension, the developers listed a number of justifications, such as financial difficulties, legal issues, Covid-19 lockdowns, and so on. Six of the seven projects granted extensions are in the Mumbai Metropolitan Region, with one nearing completion in Pune. Four of the seven projects are residential, and three are in the business sector.
