2022-08-19
CapitaLand Investment, a leading global real estate investment manager (REIM) said it is promoting a 2.6 million sq ft International Tech Park on the Pallavaram – Thoraipakkam Radial Road in the city at a cost of 1,400 crore. To be developed in two phases of 1.3 million sq ft each, the first phase will be ready by the end of March, 2023 and the second by December, 2024.
2022-08-19
The Supreme Court asked the board of management of Unitech Group to upload on its website the timeline for completion of its stalled projects for the benefit of the hassled home buyers. also to upload the newly revised payment plan under which the home buyer is required to make payments and asked the flat buyers to give their suggestions or feedback, if any. A bench of Justices DY Chandrachud and MR Shah said that the funds receivable from the home buyers or unsold inventories shall be used only for the construction purpose and would not be allowed to be diverted for any other purposes.
2022-08-19
Observing that flat-purchasers were not responsible for delayed possession, Maharashtra Real Estate Appellate Authority (MahaREAT) refused to extend time to the developer of a project at Vakola, Santacruz (E) to hand over possession to them. It also directed the developer to pay Rs25,000 cost to the flat purchasers. The direction was passed on an appeal by Satyam Developers against a February 2020 order of Maharashtra Real Estate Regulatory Authority (MahaRERA) to pay the allottee interest from January 1, 2018, till actual date of possession.
2022-08-19
The solid waste management department of Nashik Municipal Corporation (NMC) has started penalising builders and developers if the mud from construction site gets onto the roads, causing inconvenience to motorists. Solid waste management (SWM) director Dr Avesh Palod said the NMC was forced to take such an action against the builders and developers as the situation often turned grim near the construction sites leading to accidents.
2022-08-19
U.S. homebuilding fell to the lowest level in nearly 1-1/2 years in July, weighed down by higher mortgage rates and prices for construction materials. Housing starts plunged 9.6% to a seasonally adjusted annual rate of 1.446 million units last month, the lowest level since February 2021. The Fed, which is struggling to bring inflation back to the U.S. central bank's 2% target, has hiked its policy rate by 225 basis points since March. Mortgage rates, which move in tandem with U.S. Treasury yields, have soared even higher.
2022-08-19
SG Road has been a site of a number of deals after it was widened. Corporates have focused on this area as have those developing residential projects. The latest deal is expected to result in the construction of about 15 lakh square feet of high-end residential development. Sheetal Infrastructure CMD Paras Pandit said: "We have initiated the deal to buy about 17,500 sq yard plot near Vaishnodevi Circle and it will be complete soon."
2022-08-19
Developers expect the trend to continue during the festive period till November. "The real estate sector is back to the pre-pandemic levels - both in terms of registrations and revenue," a registration department official said. Maharashtra recorded registration of eight lakh documents from April and July. Nearly one lakh property documents have been registered till mid-August. "The registration department, which had a revenue target of Rs32,000 crore for this financial year, has already achieved 40% of it," the official said.
2022-08-18
This building, part of an 8.8-acre mixed-use development, is scheduled to break ground in the first quarter of 2023 and be completed in the fourth quarter of 2025. In India, Hines has completed two commercial projects -- 'One Horizon Center' and 'Skyview Corporate' -- in Gurugram comprising 1.4 million square feet. The company has exited from investments in these two projects. At present, it has over 16 million square feet of development across Bengaluru, Delhi-NCR, and Pune.
2022-08-18
The accused identified as Anil Kumar Tulsiani (58), was a native of Prayagraj was arrested from Vibhutikhand crossing in Lucknow. The accused used to show properties of the government at cheaper rates as his own and in order to appear genuine got prepared fake registration papers and sold the flats/land property to innocents.
2022-08-18
Ingka Centres, part of Ikea's retail operator Ingka Group, said it will invest 900 million euros (nearly Rs 7,245 crore) in India to set up two centres for business, meetings and shopping over the next few years. Ingka Group (which also includes IKEA Retail and Ingka Investments) started construction work of its first 'Ingka Centre' with an investment of 400 milion euros. It plans to set up a similar centre at Noida too.
