2022-10-29
In an attempt to restart over 500 dead slum redevelopment projects, the Slum Rehabilitation Authority (SRA) has invited applications from private builders to get empanelled with the agency. Once empanelled, the SRA will float tenders and award contracts to empanelled builders to complete the dead projects.
2022-10-29
It’s common for builders to advertise and sell dwelling units in their housing projects, claiming that the site would soon be connected with Metro or multi-lane roads. Now the NCDRC has warned that such builders will have to refund money to homebuyers if Metro or road link is not constructed by the authorities during the promised time-frame.
2022-10-29
The BMC has decided to appoint a professional agency to provide search reports of property cards of properties to be auctioned over tax default. The agency to be appointed needs to have expertise in accessing search reports for property tax. The search reports are part of revenue records of the state government and search reports can be for a decade or two.
2022-10-29
Saint-Gobain sees its energy and raw material costs soaring by slightly more than 3 billion euros this year because of rising inflation. "If the material cost comes down we need to also then adapt and adjust ourselves in the market to make sure that we don't stand out as the only one who is looking for the price," company's Finance Chief Sreedhar Natarajan said.
2022-10-28
The Nashik Municipal Corporation (NMC) has started work on the development of the 26 gaothan areas within its limits through cluster projects. The state government had introduced the unified development control promotion and regulations (UDCPR) in December 2020. The new unified DCPR includes development for gaothan areas, but the area requirement is at least 4,000 sqmt (1 acre) of land.
2022-10-28
Egyptian property developer SODIC has offered to buy Orascom Real Estate for $125 million, the residential compound builder's parent company Orascom Development Egypt said. Abu Dhabi's Aldar Properties and state holding company ADQ bought a controlling stake in SODIC late last year, and the purchase of Orascom Real Estate would further expand their Egyptian real estate business.
2022-10-28
Sales of new U.S. single-family homes dropped in September and data for the prior month was revised lower, more evidence that higher mortgage rates are choking the housing market. New home sales decreased 10.9% to a seasonally adjusted annual rate of 603,000 units last month. August's sales pace was revised down to 677,000 units from the previously reported 685,000 units.
2022-10-28
To avoid unnecessary disputes and litigations during sale and purchase of property, finance minister Harpal Singh Cheema and revenue minister Brahm Shanker Jimpa decided to reduce the process of issuing no objection certificates (NOCs) from 21 days to 15 working days. NoC will be issued in 5 working days under Tatkal for the convenience of NRIs and other such persons who need it in a short time span.
2022-10-28
Bengaluru-based property developer Century Real Estate is in talks with global and domestic funds to raise over Rs 1000 crore for commercial property development. The company, which currently has a 2.5 million sq ft portfolio of commercial properties, plans to double its office portfolio in the next four to five years.
2022-10-28
PNB Housing Finance has reported an increase of 11.66 per cent in its net consolidated profit during the quarter ended September 30, 2022. Its profit after tax (PAT) stood at Rs 262.63 crore in Q2 FY23 as against Rs 235.21 crore it recorded in the corresponding quarter of the previous fiscal.
