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In a joint meeting with five builders on Saturday, the Authority has instructed a builder to remit Rs 1.07 crore as water dues. The meeting, attended by builders and residents' bodies, directed water department officials to ensure that Sethi Buildwell Pvt Ltd settles the dues promptly. ...
Dozens of high net worth individuals who invested tens of crores a decade ago to secure luxury apartments in the 3,500-crore Palais Royale, a skyscraper in Worli, may find a glimmer of hope. Standing at 294m (56 floors), it ranks among the tallest residential towers in the country. ...
The Haryana government is proposing a 30%-80% increase in circle rates for land and properties in the city, with finalization expected by month-end. Objections and suggestions can be submitted until December 17. ...
A week after introducing a new three-tier guideline value for apartment complexes in Chennai and its suburbs, the state government has decided to retract the order and revert to the street and road-based composite value for registration. ...
The BMC's credit note policy, involving payments of Rs 450 crore to builders for constructing 35,000 tenements for project-affected persons, is under scrutiny for non-payment of GST. ...
Arun Kumar, the new chief of the Haryana Real Estate Regulatory Authority's city bench, directed senior officials on his first day to resolve allottees' complaints within the stipulated time limit. ...
The new guidelines from the UP government regarding purchasable floor area ratio (FAR) declare any additional FAR as illegal. If applied after construction, it is subject to demolition—an established practice in the NCR region. In multi-storey buildings, developers were previously allowed to purchase FAR in case of slight deviations from the sanctioned layout map. ...
The NCLT Mumbai has granted approval for the sale of certain real estate assets of telecom company Reliance Communications, according to a regulatory filing on Wednesday. ...
Two promoter entities, Satguru Infocorp Services and Starlight Systems, have sold their entire 4.1% stake in Mumbai-based real estate developer Sunteck Realty for Rs 288 crore through open market transactions. ...
The Mumbai bench of the Income-Tax Appellate Tribunal (ITAT) has ruled in favor of a taxpayer who, along with her husband, jointly purchased a flat. The tribunal stated that the sum of Rs 24.3 lakh, representing her share of the difference between the agreement value and the stamp duty value at the time of registration, cannot be taxed in her hands. ...
Promoters are required to audit project accounts and upload the audited balance sheet on the Uttar Pradesh Real Estate Regulatory Authority (UPRERA) website within six months of the financial year's end. In case of significant discrepancies or complaints, the authority may appoint an auditor from its panel to audit the project accounts, with the promoter bearing the associated costs. ...
The National Company Law Tribunal (NCLT) has accepted IIFL Finance's application to recognize its claim against Satra Properties as financial debt in an ongoing dispute with Vistra ITCL (India), the property developer's financial creditor. ...
Provident Housing, a 100% subsidiary of Puravankara, intends to invest Rs 600 crore in acquiring new land parcels. Additionally, it plans to allocate Rs 750-1,000 crore in the financial year 2024-25 for the development of these acquired land parcels. ...
Ashiana Housing plans to invest between Rs 650-700 crore in land and construction during the financial year 2023-24, aiming for area bookings totaling Rs 1,500 crore. The company aims to add 7-8 million sq ft in the next three years. ...
Niraj Ved, a builder associated with Shreenath Developers, faced arrest by Pant Nagar police for allegedly deceiving a flat buyer. Ved appeared before a local court on Monday and was remanded in two days of police custody. The arrest followed an FIR filed by a flat buyer who claimed non-delivery of a 1,640 sq ft flat in a Ghatkopar project after paying the builder Rs 3.31 crore. ...
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