2023-09-02
Since the developer of the Shriram Summitt project in Bengaluru failed to deliver the apartment by the construction agreement, the Karnataka Real Estate Regulatory Authority (KRERA) has ordered Shriram Properties to pay delayed interest on the pre-EMI component paid by the homebuyer. The project was supposed to be handed over in 2019 and was booked for about Rs. 72.4 lakhs. KRERA rejected the developer's appeal, citing COVID-19 as the cause of the holdup, and ordered the developer to pay accrued interest at the SBI Marginal Cost of Funds based Lending Rate (MCLR).
2023-09-01
According to officials, some 300 developers in Maharashtra have decided to e-register the first sale of properties from their own offices. As more developers volunteer to register the documents from their own offices, the two-year-old e-registration initiative has gathered pace. According to representatives for property registration, this has encouraged more developers to choose this facility by reducing foot traffic at the sub-registrar's offices for new properties.
2023-09-01
Co-working space provider 91Springboard said on August 30 that it had inaugurated a new location in Pune, Maharashtra's IT hub, more precisely in the Baner micro market. The area is 32,000 square feet. According to a statement from the company, the facility, which has seating for over 800 people, is located in Baner's Sadanand Business Centre, just off the Mumbai-Bengaluru expressway and ten minutes from Balewadi High Street.
2023-09-01
After COVID-19, many prospective homeowners around the nation have thought about moving up to larger homes. Mumbai, the most expensive real estate market in the nation, is experiencing the same trend. According to data, owners of 1 BHK apartments are switching to 2 BHK units, and owners of 2 BHK apartments are switching to 3 BHK units. In Mumbai, the launch ratio of 1 BHK apartments has decreased by 5%, while the launch ratio of 2 BHK apartments has stayed unchanged, with the launch ratio of 3 BHK apartments increasing by 5% (MahaRERA).
2023-09-01
The MICL Group, located in Mumbai, has presented plans for a sizable 10-acre rehabilitation project with the goal of transforming the urban environment through creative design and cutting-edge infrastructure. The project is an important development for the city's real estate market and has the potential to transform the neighborhood and spur Mumbai's expansion. The company hopes to build a vibrant community hub that seamlessly combines residential, commercial, and recreational amenities by utilizing its vast knowledge. This tactical strategy aims to meet a variety of demands, improving the quality of life for locals while promoting economic growth.
2023-09-01
According to sale deed records, the director of a business that makes interdental brushes paid Rs 61.70 crore for a bungalow in Delhi's wealthy Nizamuddin neighborhood. The paperwork indicated that the plot has an area of 873 square yards. The buyer, GlobalDent Aids director Renu Khuller, paid a stamp duty of about Rs 3 crore. This is possibly one of the most expensive deals in the Nizamuddin East area that has been transacted at a per sq ft rate of around Rs 62,000 per sq ft.
2023-09-01
The Delhi Development Authority (DDA) is getting more accommodative. It has approved changes to land use for the expansion of the Ram Manohar Lohia (RML) Hospital and the establishment of the Communist Party of India (Marxist) or CPI(M) office in Delhi. These changes to housing regulations allow people to purchase DDA properties even if they already own a flat or plot in the national capital. The DDA also approved the development of six state bhavans, or guesthouses, in Sector 17, Dwarka.
2023-08-31
The Indore Development Authority (IDA) has approved Rs 2 billion for development projects under the IDA's TPS Schemes. Notably, tenders of Rs 13.72 billion were approved, concentrating mostly on internal development in line with the TPS plans' master plan and road infrastructure. Additional funding for Scheme No. 155 includes Rs 60 million for electrification and Rs 50 million for beautification.
2023-08-31
Sources claim that Ingka Centres, a subsidiary of the Ingka Group that also owns IKEA Retail and Ingka Investments, is in search of land in the capital city, ideally in places like South Delhi and Dwarka. Experts estimate that the cost of a licensed or approved site in the South Delhi and Dwarka districts will range from Rs 50 crore to Rs 75 crore per acre. A source claimed that the retail giant has been searching for suitable 25-acre parcels, ideally in these locations.
2023-08-31
Residents are concerned about Indian billionaire Gautam Adani's capacity to follow through on his pledge to rehouse a million people living in one of Asia's largest slums due to high-profile financial problems and reports that Prime Minister Narendra Modi's associates granted him preferential treatment. After years of futile attempts, the Maharashtra state government authorized Adani's $614 million contract offer to renovate the slum, which is renowned for producing leather goods, in July.
