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Starting from September 13, the Bangalore Development Authority (BDA) requires all properties under its jurisdiction to transition to the e-khata system, replacing the old paper-based khata system. This move impacts over 2 lakh properties in Bengaluru under BDA's purview and aims to improve transparency in property dealings, making it easier to identify double registrations, financial irregularities, and other fraudulent activities. ...
The Gujarat Real Estate Regulatory Authority (GujRERA) is planning to ease the rules for submitting quarterly progress reports (QPR) for real estate projects. The upcoming changes, expected soon, will remove the automatic quarter lock in case of delayed QPR submissions. Instead, developers will face a daily penalty for late submissions, aiming to improve compliance and ensure better transparency for homebuyers. ...
Dalmia Bharat announced on Friday that it will engage with the interim resolution professional (IRP) of Jaiprakash Associates Ltd (JAL) to discuss acquiring JAL's cement assets. Source: ET Realty ...
On Friday, the Real Estate Regulatory Authority (RERA) in Gurugram inspected eight under-construction real estate projects that are set to receive extensions for their completion and handover to buyers, an official reported. Source: ET Realty ...
Mortgage disbursals are significantly outpacing the amount of outstanding home loans, signaling rapid industry growth and a marked increase in incomes. This trend has led end-users to prepay liabilities or reduce debt through lump-sum payments ahead of schedule. Source: ET Realty ...
The National Company Law Appellate Tribunal (NCLAT) recently approved Suraksha Group's resolution plan for Jaypee Infratech Limited (JIL). Suraksha Group is expected to take control of the debt-ridden company following a meeting scheduled for next week. Source: ET Realty ...
China is set to levy a record fine on PricewaterhouseCoopers LLP and suspend some of the global auditor’s local operations due to its involvement in one of the country's largest alleged financial fraud cases, according to sources familiar with the matter. ...
The Enforcement Directorate announced on Thursday that it has attached properties valued at over Rs 290 crore belonging to an amusement and recreation services company. This includes assets in the popular GIP Mall in Noida, as part of an ongoing money laundering investigation. Source: ET Realty ...
Columbia Pacific Communities (CPC), a leading entity in senior living, is set to merge with KITES Senior Care, a geriatric care provider, aiming to expand nationwide to 10,000 senior living units and 2,000 geriatric care center beds outside hospitals within five years. Source: ET Realty ...
The Insolvency Appellate Tribunal (NCLAT) has confirmed the approval of Adani Goodhomes' resolution plan for Radius Estate, which involves a 93 percent reduction in debt for creditors. A two-member panel, including the NCLAT Chairman, dismissed the objections from two dissenting financial creditors, citing the "commercial wisdom" of the Committee of Creditors (CoC) that approved the payouts to various creditors. Source: ET Realty ...
In a landmark ruling, the Bombay High Court has determined that transit rent, paid by developers to flat owners/tenants during dispossession, is not considered a revenue receipt and thus not taxable for the recipient. Consequently, developers are not required to deduct tax at source (TDS) from these payments. Source: ET Realty ...
Godrej & Boyce Manufacturing Company has sold an office space of nearly 58,500 sq ft, spread across two floors in one wing of the Godrej One commercial complex in Vikhroli, Mumbai, to Godrej Industries for Rs 157 crore. Source: ET Realty ...
The Noida Authority has submitted a report to the Uttar Pradesh government regarding the cancellation of two commercial plot allotments due to alleged violations of terms and noncompetitive rates. On May 10, the state government revoked the allotments to Lavish Buildmart and Skyline Propcon, subsidiaries of the Gurgaon-based real estate company M3M, following a complaint about the ineligibility of the realtors. Source: ET Realty ...
On the first day of bidding, the initial public offering (IPO) of co-working space operator Awfis Space Solutions was subscribed twice over. The Rs 599 crore IPO received bids for 17,446,143 shares compared to the 8,629,670 shares available, according to data from the NSE. Sourcec: ET Realty ...
L&T Realty, the real estate division of engineering giant Larsen & Toubro, has signed an agreement to jointly develop a 12.2-acre land parcel in Thane’s Panchpakhadi area. This project, which involves the rehabilitation of a large slum area, has a total development potential of over 3.12 million square feet. Source: ET Realty ...
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