2023-08-23
According to a building official, around 150 structures that threaten residents and passersby have been recognized. Particular focus is being placed on 50 of these homes where urgent section removal is required. This action will be eased by an express order issued under Section 411 (4) of the Kolkata Municipal Corporation (KMC) Structures Rule, which authorizes the municipal commissioner to demolish unsafe components of old buildings that are beyond repair.
2023-08-23
Raymond Realty intends to develop a premium 2,3,4 BHK apartment complex in Mumbai's Bandra micro-market, with a target revenue of Rs 2,000 crore. Depending on clearances, the company hopes to begin construction on the 0.6 million square foot project by the end of the current fiscal year. Overall, including the Bandra project, the company has a topline potential of roughly Rs 27,000 crore, taking into account the 100-acre land block it holds in Thane, near Mumbai.
2023-08-23
Vaishnavi Group, a real estate company based in Bengaluru, intends to invest 1,850 crore over the following four years to expand its commercial sector. According to a top firm official, the move is in reaction to the city's increased demand for commercial real estate. Up until five years ago, the developer's primary focus was on residential developments, with occasional ventures into the commercial sector. However, a large rise in the market for commercial real estate in 2015–16 prompted this change in approach.
2023-08-23
A team of experts made many recommendations to the Centre for reviving dormant real estate projects in the nation, including changes to the insolvency law and the creation of a program giving discounted interest rates. According to the Committee's Report on Legacy Stalled Real Estate Projects, a plan granting subsidized interest rates, similar to MSME, is recommended to incentivize financial institutions to fund stalled projects.
2023-08-22
Two unlawful colonies were the subject of a demolition operation carried out by the District Town Planner's (DTP) office in the village of Haripur Chaopar. The Periphery Control Area and the 1975 Urban Areas Development and Regulation Act executed this initiative. Due to a violation of the construction regulations, seals were applied to a residence in DLF Valley. A member of the Public Health Engineering Department, a Subdivisional Engineer, an Assistant District Town Planner (ADTP), and a police demolition squad participated in the demolition project.
2023-08-22
According to people familiar with the discussions, HDFC Capital's Rs 1,000-crore joint platform for plotted developments with Emerald Haven Realty (TVS Emerald) has initiated discussions to close three transactions for land parcels totaling 45 acres in Chennai and Bengaluru. These land parcels in the newly developed residential neighborhoods of Bengaluru and Chennai will serve as the platform's seed assets because it focuses on intended and low-rise development in the South Indian real estate markets.
2023-08-22
A property owned by actor and current BJP member Sunny Deol has been put up for auction by the state-owned Bank of Baroda in an effort to raise Rs 56 crore through an online auction that will take place on August 25. Sunny Villa, located on Gandhigram Road in the Tony Juhu district of Mumbai, has been seized by the bank, and the reserve price for the auction has been set at Rs 51.43 crore, with an earnest money deposit of Rs 5.14 crore.
2023-08-22
The Slum Rehabilitation Authority (SRA) recently issued a circular prohibiting defaulting builders from submitting any new bids to SRA for new projects since they still owe slum residents approximately Rs 620 crore in rent. The SRA circular stated that no new applications from defaulting developers, firms, partners, or directors who haven't paid transit rent will be approved unless all dues are paid. As a result, developers who have fallen delinquent on rent payments to slum dwellers aren't allowed to begin any new SRA projects.
2023-08-22
Bhumika Group, a real estate developer based in Rajasthan, plans to enter the NCR real estate market and introduce its first high-street commercial property on Mathura Road in Faridabad. The project will likely cost Rs 600 crore, and the company plans to finish it in four years. The project, which will span five acres in sector 21 of Faridabad in the Haryana state, will be a joint venture with the Amolik Group of Faridabad.
2023-08-22
Between January and August 18, 2023, 59 deals totaling over 2,018 acres ended nationwide. According to a survey by the real estate consultancy firm Anarock, Ahmedabad tops the charts in terms of space with 740 acres, while the Mumbai Metropolitan Region (MMR) leads in terms of deals with 17. Ahmedabad had the three largest land parcels, totaling over 740 acres, followed by Ludhiana and Bengaluru, each of which had a sale for more than 300 acres of land. Despite having the most agreements, only 95 acres were actually traded, according to MMR.
