2022-10-14
Chinese local governments have started buying up homes to bring down high unsold housing stock. Homebuyers have moved cautiously even though more than 200 cities have taken steps to boost demand, offering subsidies, group-buying discounts, smaller down payments and cuts in mortgage interest rates.
2022-10-14
BENGALURU urban development department has asked the rural development and panchayat raj department to hand over e-property data of two gram panchayats to BBMP. This comes in the backdrop of several areas of Kaggalipura and Somashettyhalli gram panchayats being brought under BBMP’s ambit. The Palike has implemented e-property software for ease of services.
2022-10-14
Citizens applying for sanctioning building plans for residential properties in "special category" will no longer require a NOC from the fire service department as the Municipal Corporation of Delhi has relaxed norms. Earlier, obtaining a prior no-objection certificate from the fire department was "mandatory" for the sanction of plans for residential buildings.
2022-10-14
The nation's largest lender State Bank's home loan book has surpassed the Rs 6-lakh-crore-mark, making it the largest in the industry. To mark the occasion, the bank also announced a festive offer for home loan buyers, offering up to 25 bps discount on interest rate starting at 8.40 per cent and also the waiver of the processing fee till January 31, 2023.
2022-10-14
Institutional investments in Delhi-NCR's real estate market jumped 2.5 fold year-on-year to USD 754 million during January-September, according to Colliers India. As per the data, Delhi-NCR attracted institutional investments worth USD 754 million during the first nine months of this year, compared to USD 301 million in the year-ago period.
2022-10-13
As part of its expansion plan, Smartworks has signed up approx. 1.7 lakh sq ft in Jaipur and Indore. With this, the company's operations has expanded to 11 cities. It plans to add centres in three more tier-II cities in FY23. Smartworks plans to add another three million sq ft this fiscal year, bringing its total portfolio to 10 million sq ft.
2022-10-13
Sales booking of realty firm Sobha Ltd increased 13% to Rs 1,164.2 crore for the second quarter of 2022-23 fiscal year on higher price realisation. Its sales bookings stood at Rs 1,030.2 crore in the year-ago period. In volume terms, sales bookings dropped to 13,36,828 square feet in July-September quarter of the 2022-23 fiscal year from 13,48,864 square feet in the corresponding period of the previous year.
2022-10-13
JSW Cement plans to invest more than Rs 3,200 crore to establish an integrated greenfield cement manufacturing facility in Madhya Pradesh as well as a split grinding unit in Uttar Pradesh. The combined cement capacity across both these units will be 5 MTPA. The proposed investment includes an integrated cement plant with 2.5 MTPA clinker capacity, 2.5 MTPA grinding capacity, 15 MW Waste Heat Recovery System in Madhya Pradesh and a 2.5 MTPA grinding unit in Uttar Pradesh.
2022-10-13
Punjab Chief Minister Bhagwant Mann gave nod to hike minimum wages of of construction workers by Rs 715 per month. The CM said minimum wages of unskilled workers have been hiked to Rs 9,907 from existing Rs 9,192 whereas wages of skilled workers have been increased to Rs 11,584 from Rs 10,869.
2022-10-13
Realty developer Rustomjee Group has entered into an agreement to jointly develop a nearly 2 million sq ft affordable residential project on a 12-acre land parcel in Kalyan, near Mumbai. The company, which is currently in the process of raising funds through its initial public offer (IPO), is planning to invest over Rs 500 crore to develop the project that will be completed in the next five years.
