2023-08-21
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has begun providing Recovery Certificates (RCs) to help troubled homebuyers. Although Noida is the largest real estate market in UP, just 5% of the RCs issued by the real estate ombudsman during 2018 have been recovered. RCs are issued when aggrieved homebuyers approach RERA against developers defaulting on refunds. These RCs are issued when aggrieved homebuyers approach RERA against developers defaulting on refunds.
2023-08-21
The Nashik Municipal Corporation (NMC) is taking steps to guarantee that buildings having a Building Completion Certificate (BCC) are subject to property taxation. In partnership with the municipal planning department, the NMC property tax department will inspect buildings to determine if property tax has been imposed on those with a BCC. In recent years, almost 30,000 properties received BCCs without submitting property tax applications. The NMC intends to boost its property tax base from 5.20 lakh to 5.50 lakh in the coming months.
2023-08-20
The Securities and Exchange Board of India (SEBI) has chosen to postpone the auction date for seven companies' properties. The rescheduled auction date of August 31 gives potential purchasers additional opportunity to participate in the bidding process. As part of its attempts to simplify the sale of properties owned by these entities, SEBI has decided to postpone the auction date. The action intends to draw bidders and investors interested in purchasing these assets.
2023-08-20
In a statement to the Bombay Stock Exchange (BSE), L&T Metro Rail (Hyderabad) Limited stated that the state government and its members had authorized the "proposed sale" of its Raidurg business undertaking to Rafferty Developments Private Limited as a going concern and based on a slump sale. The declaration states that the agreement is subject to satisfying all transactional requirements, obtaining all required approvals, and is completed and executed.
2023-08-20
According to Chief Executive Mallanna Sasalu of Provident Housing Ltd, five projects totaling 5.8 million square feet are scheduled to begin development this fiscal year under the affordable housing division of Puravankara Limited, based in Bengaluru. The project will occupy 11.25 acres at the KIADB Aerospace Park on Bagalur Road in North Bengaluru. Five high-rise towers will accommodate 1,262 apartments ranging in size from 616 to 1,390 square feet each.
2023-08-20
The state's industrial development commissioner (IDC) has instructed the Noida and Greater Noida authorities to compile a detailed report based on suggestions made by an expert panel chaired by the former Niti Aayog CEO Amitabh Kant to restart stalled real estate projects. The report's main topics of interest will be the stances that two authorities adopt regarding giving developers dues refunds and removing the connection between paying dues and maintaining registries.
2023-08-20
According to officials due to unpaid debts, the Gautam Buddha Nagar district administration plans to auction off 38 sealed Wave Group stores in Noida's Sector 18's Wave Silver Tower. The auction is expected to take place on August 28. The size of the establishments up for auction ranged from 165 square feet to 1,240 square feet, according to district administration officials. Depending on the size and other conditions, the reserve price is estimated to be between Rs 47 lakh and Rs 2.5 crore.
2023-08-19
The Bruhat Bengaluru Mahanagara Palike (BBMP) Act of 2020 and the Karnataka Municipal Corporations (KMC) Act of 1976 are the two laws that are being proposed for amendment. According to BBMP officials, several builders and developers have petitioned the high court for decisions that would lower the costs the agency charges. Their main grievance was that the BBMP was collecting fees from the developers in violation of both the KMC Act and the BBMP Act.
2023-08-19
Jio Financial Services, previously known as Reliance Strategic Investments, has leased 13,872 feet of space in Mumbai for an amount of 55.5 lakhs per month. The office is situated on the first floor of Maker Maxity in Bandra Kurla Complex, a bustling commercial district in the financial capital that is also home to the National Stock Exchange, Securities and Exchange Board of India, and other prestigious banks.
2023-08-19
The Supreme Court has upheld a Bombay High Court judgment from 2017 that the premium charged for open space insufficiency could be reduced to 10% rather than 100%. The BMC has been told by the Supreme Court to take a 10% premium deduction and return the remaining amount to Wadhwa Estate and Developer (I) Private Limited with interest within six weeks.
