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Haryana RERA imposes penalty on Countrywide Promoters for misleading advertisement

Monday 20th May 2024

The Gurugram bench of the Haryana Real Estate Regulatory Authority (HRERA) has fined Countrywide Promoters Private Limited Rs 50 lakh for publishing a misleading advertisement about its Green Oaks project in a newspaper. The authority issued a show cause notice to the promoter after noting the advertisement in an English daily on March 2, according to an official.   Source: ET Realty ...

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MAHARERA to make amenities deadlines disclosure mandatory

Wednesday 1st May 2024

MAHARERA on monday said that developers have to mentioned end dates by which the amenities will be available for use to the buyers.Prospective buyers are often lured by the vision of swimming pool, gym or a community centre, but agreement to sale remains silent regarding usage and specifications of the amenities.  "The proposed order now makes it mandatory to specify the exact date by which these amenities and facilities will be made available to the residents.  Details of amenities like swimming pools, badminton court, spa, gym , table tennis court , squash , basketball court etcwill have to be provided along with deadline.        ...

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DLF acquires 29 acres land in Gurugram for Rs 825 crore

Wednesday 28th February 2024

According to a BSE filing, DLF has entered into an agreement with Deutsche Investments India, DB International (Asia), Singapore, Standard Chartered Bank, Singapore Branch, and the company for the purchase of privately placed, listed, secured, nonconvertible, redeemable bonds with a face value of Rs 600 crore. The bond issuer has defaulted on repayment of the bonds, along with accrued interest. ...

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EaseMyTrip co-founder buys office space in Gurugram for Rs 99 crore

Wednesday 28th February 2024

Rikant Pittie, a co-founder of EaseMyTrip, paid Rs 99 crore for an office building in Gurgaon. The 65,000 square foot office building is located in sector 32, and Egis India is a tenant in part of the property. ...

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SC refuses bail to Radius Groups MD in Yes Bank money laundering case

Wednesday 28th February 2024

On Thursday, Sanjay Chhabria, a realtor, filed a plea with the Supreme Court challenging the Bombay High Court's decision to deny him default bail in the Yes Bank money laundering case. Judges Bela M. Trivedi and Pankaj Mithal's bench stated that the offense is grave and that the high court took all relevant factors into account. ...

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Bollywood writer, director Krishna DK buys duplex for Rs 35.50 crore in Mumbai

Wednesday 28th February 2024

Krishna Kuppuswami Dasarakothapalli, popularly known as Krishna DK, is a Bollywood writer, director, and producer. He paid more than Rs 35.50 crore for a lavish duplex flat in the Goregaon area of Mumbai.   Source: ET Realty ...

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Nisus-BCD Fund invests Rs 60 crore in Project High Cliff

Monday 26th February 2024

A real estate credit fund called Nisus Finance has contributed Rs 60 crore to High Cliff, a late-stage residential development in Bellandur, Bengaluru, through listed nonconvertible debentures. ...

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Registries to begin in Noida with 1,000 flats first to get green light

Monday 26th February 2024

After much anticipation, the city will launch its long-awaited registry of flats, with 1,084 buyers who have already taken possession of their properties receiving the initial go-ahead. ...

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Gurugram: One-time settlement scheme for EDC dues extended till March end

Monday 26th February 2024

The Haryana government on Wednesday gave builders until March 31 to fulfill their outstanding external development costs under a one-time settlement arrangement, the terms of which have also been modified. ...

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Insolvency & bankruptcy code doesnt give immunity to promoters, directors: SC

Monday 26th February 2024

The Supreme Court has ruled that promoters and directors of an insolvent firm are not entitled to the shield of protection under the Insolvency and Bankruptcy Code, and that proceedings may be brought against them. This decision is a relief to homebuyers, many of whom are left in the dark after real estate companies enter insolvency proceedings and a moratorium is imposed under the code. ...

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Ghaziabad: NGT directs Nipun Builders & Developers not to continue with its group housing project

Tuesday 20th February 2024

A relator in Ghaziabad has been instructed by the National Green Tribunal to halt their group housing project because it does not adhere to environmental standards. ...

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Seven builders in Noida agree to pay 25% dues as part of new policy to revive stuck projects

Tuesday 20th February 2024

In order to cover the cost of registering apartments for more than 1,000 customers, seven Noida developers have committed to pay 25% of the total amount owed to the authorities. ...

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Jamshyd Godrej resigns as nonexecutive director of Godrej Properties

Tuesday 20th February 2024

Godrej Properties, a real estate company, announced on Tuesday that Jamshyd Godrej, who was 75 years old, has stepped down as a non-executive director, effective January 24. The resignation is effective as of January 24. ...

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Kolte-Patil acquires two society redevelopment projects in Mumbai

Tuesday 20th February 2024

Two new society redevelopment projects worth a combined 3.06 lakh sq ft of saleable area have been signed by Kolte-Patil Developers in the western suburbs of Mumbai. This translates into a potential top-line of roughly Rs 545 crore. ...

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Sobha approves issuance of equity shares upto Rs 2,000 crore

Thursday 15th February 2024

The issuance of equity shares of Sobha for a sum not to exceed Rs 2,000 crore through a rights issue to the qualified equity shareholders of the firm has been evaluated and approved by the board of directors, according to a BSE filing. ...

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