2022-09-19
Red brick manufacturers in the state are protesting a new notification of the central government which has put certain restrictions on use of bricks and made brick manufacturing more difficult. The Gujarat Brick Manufacturers Federation has resolved to not start production in the new season from October, to protest the new notification as well as the increase in GST rates.
2022-09-19
M.S.Ramaiah Developers and Builders (MSRDB) plans to invest over Rs 3000 crore to expand its retail and commercial real estate portfolio across Bangalore, Goa and Andhra Pradesh. The company is looking at doubling its retail and commercial portfolio to over 8 mn sq. ft. from 4.5mn sq. ft. it is developing currently.
2022-09-19
GURUGRAM: From raising the compensation amount to Rs 4 lakh in case of death of construction workers at workplace to providing annual free health checkups for their near and dear ones, Haryana CM Manohar Lal Khattar made a number of announcements for workers and their families. “The financial assistance of Rs 2.5 lakh given to a family in case of death of a construction worker at the workplace will be raised to Rs 4 lakh. Similarly, the financial assistance given to a worker in case of disability due to an accident at the workplace will also be doubled,” the CM said.
2022-09-19
Airports Authority of India (AAI) is planning to acquire about 300 acres in chunks to increase the passenger handling capacity of Chennai airport after commissioning the new integrated terminal in December/January. The decision was made after AAI Chairman Sanjeev Kumar and the board evaluated the new terminal's construction and talked about the need for more airport land so that more facilities such as parking lots and parallel taxiways could be built to boost passenger capacity to 55 million per year.
2022-09-19
Regulatory agency Insolvency & Bankruptcy Board of India (IBBI) has allowed splitting of companies to attract more participants into the corporate resolution process as it seeks to provide flexibility and increase realisation. The move to split assets is seen to be beneficial in cases involving real estate players and other entities with multiple projects, all of which may not be viable, or there may be some assets which will generate higher value.
2022-09-18
BENGALURU: In a relief for Bagmane Developers, the high court on Friday directed the authorities to not take any coercive steps regarding their 5.5-lakh-sqft tech park in Mahadevapura till the due process of law is accomplished. According to the petitioner, the commercial building in the schedule property was constructed as per the sanctioned plan and it has not deviated from the same.
2022-09-18
US-based alternative investment fund (AIF) Varde Partners has invested Rs 400 cr in Chennai-based real estate developer Casagrand Builder for purchase of land in Chennai for development. The money was invested against a portfolio of real estate projects and the builder has already drawn down Rs 200 crore.
2022-09-18
The Haryana Real Estate Regulatory Authority (H-Rera) has restrained the sale and purchase of units in two projects after their developers repeatedly failed to produce the documents required for registering them with the authority. H-Rera has also served show-cause notices to two other projects for not completing the registration process, which is mandatory.
2022-09-18
CHANDIGARH: A proposed change in building byelaws will make it mandatory for 10 marla (250 sq yard) area and above houses to have rooftop solar power plants, a condition applicable for houses of 500 marla (1 kanal) above at the moment. Complaints that mandatory provisions regarding capacity of solar plant and category of properties couldn't be adhered to because of building byelaw constraints had been pouring in regularly.
2022-09-18
The Dehradun Municipal Corporation (DMC) inaugurated its new software for tax payments, property mutation and grievance registration.Authorities believe the new software will be more user-friendly. Complaints from users about the online portal not working properly prompted the civic corporation to revamp its system.
