2022-09-30
Police have registered a case of cheating against 27 property developers in Maharashtra's Thane district for allegedly fabricating documents for the registration of their constructions under the Real Estate Regulatory Authority (RERA). The accused developers had allegedly cheated home buyers from 27 villages and the Kalyan Dombivli Municipal Corporation (KDMC) as part of a racket.
2022-09-30
Struggling Chinese property developer Sunac China is seeking to extend the repayment for a 4 billion yuan ($558.35 million) bond for the third time by pushing out the deadline by another 6 months. After the adjustments, Sunac will not pay the two remaining amortization payments scheduled for this year, and the last instalment will be delayed to March 31, 2024 from Sept 30, 2023.
2022-09-30
The state government has instructed the MHADA to waive charges to the tune of Rs 560 crore for 4,000 houses built under Basic Services for Urban Poor (BSUP) scheme in Kalyan-Dombivli. This will help the KDMC to allot 4,000 houses to the beneficiaries free of charge.
2022-09-30
Dysfunctional streetlights on many stretches of the Pune Cantonment Board (PCB) limits have made commuting difficult at night. An internal survey by the electrical engineering section of the PCB revealed that about 20% (800) of the total 4,000 street pole lights in the area are not functional owing to a lack of maintenance.
2022-09-30
The BMC's property tax collection in the first six months of the current financial year is Rs 665 crore, just 9.5% of the Rs 7,000-crore target it had set and announced in its budget for 2022-23. However, the property tax collection for the same period in the last financial year was Rs 603 crore.
2022-09-30
German transnational company Continental Automotive has bought 8.5 lakh sq. ft of office space in Bangalore for around Rs 850 crore. Earlier, Continental occupied the same building on lease and now it has bought it from the builder. The building was leased for 15 years in 2022 with an option to buy.
2022-09-30
Investors dumped shares and bonds of Chinese property developers, after a media report that CIFI Holdings (Group) Co had defaulted, adding to worries over the crisis-stricken real estate sector. Hong Kong-listed shares of CIFI Holdings tumbled 26% in morning trading to a record low, after credit intelligence provider Reorg reported that the Chinese developer had missed payment on certain non-standard debt.
2022-09-29
Godrej Properties has acquired a 7-acres land parcel located in the vicinity of Indiranagar, Bengaluru. The project is estimated to have a developable potential of approximately 0.6 million sq ft of saleable area and will have an estimated booking value potential of approximately Rs 750 crore.
2022-09-29
Hong Kong private home prices fell 2.256% in August from a month earlier to the lowest since February 2019, as market sentiment was hurt by rising interest rates. The drop in home prices in one of the world's most unaffordable housing markets last month followed a revised 1.44% decline in July.
2022-09-29
The National Company Law Tribunal (NCLT) has approved the sale of infrastructure lender IL&FS' headquarters, a 10-storey iconic property in Mumbai's business district Bandra-Kurla Complex (BKC), to global alternative investment major Brookfield Asset Management. Brookfield's affiliate company Chronos Properties has emerged as the successful bidder to acquire the marquee property for over ₹1,080 crore.
