2022-09-27
The Goa government announced the scrapping of amendments to the Town and Country Planning Act in what is being seen as a victory for protesting environmental activists and some political outfits. State Town and Country Planning Minister Vishwajit Rane said the amendments were being scrapped as even keeping them in abeyance would have caused more doubts among people on the intention of the government.
2022-09-26
Builders registering their projects with MahaRERA will now have to go through stricter scrutiny for consumers’ benefits. Currently, the state has 37,823 Real Estate (Regulation and Development) Act-registered projects. However, applications for 1,096 projects are in the process of finalisation.
2022-09-26
The UT administration is all set to hold its first auction of industrial plots on a freehold basis. Around 30 plots have been identified in the industrial area by the UT estate office for offering for sale. UT administrator Banwarilal Purohit had approved auctioning of all UT vacant/unsold industrial and commercial properties on a freehold basis.
2022-09-26
China Construction Bank Corp will set up a 30 billion yuan ($4.2 billion) fund to buy properties from developers, as policy makers beef up efforts to contain a real estate crisis that's weighing on the economy. The fund will "invest in existing assets" of real estate companies and renovate the properties into rental housing.
2022-09-26
The CHB has issued a final letter to the Punjab and Haryana governments, PGI and Chandigarh administration to give their consent and deposit 25% amount for the construction high-end flats at IT Park or else the scheme would be withdrawn in two months. The consent to purchase of flats at the IT Park, Chandigarh, along with upfront fee of 25% is still awaited.
2022-09-26
Professional services firm EY India has renewed its lease for an office spread over 40,330 sq ft on an entire floor at commercial tower The Ruby in central Mumbai’s Dadar locality for the next 30 months. The firm will be paying a total nearly Rs 20 crore as rentals for this office during the entire tenure of the lease based on monthly rentals of Rs 165 per sq ft.
2022-09-26
The Maharashtra State Energy Distribution Company Limited (MSEDCL) restored power supply for essential services in the Lavasa hill city project. The MSEDCL had disconnected 131 connections in the hill city project for non-payment of dues of running up to Rs 22.78 crore pending since August 2018. Seven of the connections were restored.
2022-09-26
Stamp duty, a tax on house purchases, will be cut to help families to afford to buy homes. The nil-band threshold for first-time buyers will also increase to 425,000 from 300,000 pounds, he told lawmakers, adding that the changes are permanent and effective immediately.
2022-09-26
Indore Municipal Corporation (IMC) claimed to have equipped over 1 lakh properties in Indore with rainwater harvesting systems. As many as 1,05,000 properties have been equipped with a rainwater harvesting system and are also geotagged under the initiative. If a 1000 sq ft building installs a rooftop rainwater harvesting system, it conserves around 50,000 litres of rainwater.
2022-09-25
Blackstone Inc will sell a stake worth up to $400 million in Embassy Office Park REIT, India's biggest real estate investment trust, via Indian stock exchange block deals. Embassy Office Parks, India's first REIT to list in 2019, owns and operates more than 42 million square feet portfolio of office parks and office buildings in cities such as Bengaluru and Mumbai. It is the largest office REIT in Asia by area.
