2022-09-25
In a good news for the hassled home buyers of Amrapali Group, the Supreme Court was informed that 11,858 flats will be delivered in 2 to 3 months of which 5, 428 units will be handed over the possession in October. In the upcoming festive season next month 5,428 flats which have been completed by the NBCC will be given to the home buyers with electricity and water connection.
2022-09-25
The Pune Municipal Corporation has sealed 1,355 properties in its limits for tax default. The civic administration had issued notices for recovery of tax. But the owners did not respond to them.The civic administration has recovered Rs92 crore from some owners who cleared the dues after the sealing process started.
2022-09-25
UP RERA has imposed penalty of Rs 1 crore 39 lakhs against 13 promoters after reviewing the status of compliance of its orders by the promoters. The authority is making constant efforts to ensure enforcement of its orders and provide speedy justice to the aggrieved allottees. The action of penalty against the guilty promoters is an important step towards compelling them to comply with the orders of the authority.
2022-09-25
British landlord Land Securities Group Plc had sold 21 Moorfields, EC2 office property in London to an investment vehicle managed by Australia's Lendlease Group for 809 million pounds ($917.08 million). A 568,500 square feet property, 21 Moorfields was fully pre-let to Deutsche Bank on a 25-year lease for housing the German firm's London headquarters.
2022-09-25
The Bombay high court has recently set aside the NMMC declared reservations on Cidco-owned plots. Cidco had alleged that NMMC had illegally exercised its power. The reservations form part of the draft development plan. Builders have moved HC and filed two separate PILs.
2022-09-25
Indore district administration sent a proposal for revenue department to declare 7.911 hectare (19.548 acres) land of illegally developed Heena Palace Colony and Shriram Griha Nirman Sanstha as of government’s property and further developing ‘Suraaj Colony’ for poor people. Instructions have been issued to IMC, T&CP and the revenue department to put a ban on giving any permission along with registration of property (sale/purchase) of the land.
2022-09-25
An engineers’ body has filed a complaint against the Greater Ludhiana Area Development Authority (Glada) with the chief minister’s office (CMO) over illegal colonies mushrooming under its jurisdiction. There are many more such illegal localities mushrooming in various locations like Rahon Raod, Jaspal Bangar, Churpur Road, Balloke, Hambran Road.
2022-09-24
SoftBank Group Corp. has slashed the valuation of Oyo Hotels on its books by more than 20% as once high-flying Indian startup prepares for an initial public offering.Oyo, formally known as Oravel Stays Ltd., filed a fresh round of financial documents with India’s market regulator as it plans for a stock-market debut after cost cuts and recovery in travel helped it reduce losses.
2022-09-24
In a relief to developers and flat-buyers, the Supreme Court has upheld the eco-sensitive zone (ESZ) notifications for the Sanjay Gandhi National Park (SGNP) in 2016 and for the Thane Creek Flamingo Sanctuary in 2021. The move came after a Supreme Court order on June 3 that there should be no development within 1km of the ESZ around a national park, sanctuary or protected area.
2022-09-24
High-end properties in Delhi that have been converted from leasehold to freehold before March 2000 can be registered without a no-objection certificate (NOC) from the Land and Development Office (L&DO), the department clarified. L&DO, which comes under the Union housing and urban affairs ministry, had in July issued directions to the Delhi revenue department, asking not to register any property without the NOC.
