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Hindustan Construction Company sells 2.35 lakh sq meters land for Rs 95 crore

Thursday 7th December 2023

Hindustan Construction Company (HCC) has finalized a 'deed of conveyance' for the sale of a land parcel spanning 2,35,870 sq meters in Village Karnala (Tara), Maharashtra. The company has successfully sold the land for Rs 95 crore to Oak and Stone Construction.   ...

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Brigade Group to jointly develop two lakh sq ft office space in Bengaluru

Thursday 7th December 2023

Brigade Group has entered a joint development agreement with a landowner for the construction of grade-A office space on Sankey Road in Bengaluru. The project, with a developable area of approximately 0.20 million sq ft, is valued at around Rs 500 crore in gross development value (GDV). ...

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NFRA bans two auditors for up to 10 years for lapses in DHFL FY18 audits

Thursday 7th December 2023

The National Financial Reporting Authority (NFRA) has penalized two partners from Mumbai-based Chaturvedi & Shah LLP (C&S) for alleged professional lapses in auditing the FY18 accounts of the now-defunct Dewan Housing Finance Corporation Ltd (DHFL). This action is part of the ongoing regulatory measures against the auditors of the crisis-hit housing finance company. ...

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Actis, Mahindra Lifespace to make partial exit worth Rs 120 crore from Mahindra Homes

Thursday 7th December 2023

Actis and Mahindra Lifespace Developers, the real estate and infrastructure arm of the Mahindra Group, are jointly making a partial exit exceeding Rs 120 crore from Mahindra Homes. The developer has submitted an application to the National Company Law Tribunal (NCLT) to reduce equity share capital and facilitate the exit of both entities. ...

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Seller PAN-Aadhaar not linked? Pay 20% TDS on property purchase

Wednesday 6th December 2023

Ensure that when buying property, both your Aadhaar and PAN cards are linked, and verify that the seller has done the same. Failure to do so may result in a 20% TDS on your property purchase instead of the standard 1%. As per the Income-Tax Act, if the property is valued at Rs 50 lakh or more, the buyer must pay 1% TDS to the government and 99% to the seller, who can later claim it as credit. ...

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Byju reducing real estate footprint, vacates two offices in Bengaluru

Wednesday 6th December 2023

Edtech giant Byju's has relinquished 6,20,000 sq ft of office space in Bengaluru to cut costs and raise capital amid crises. The surrendered office assets include 550,000 sq ft in Kalyani Tech Park, Whitefield, and 70,000 sq ft in IBC Knowledge Park, relinquished between 2022 and 2023. ...

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Falsely named in duping case by Samir Kochhar &Varun Bangera: Architects

Wednesday 6th December 2023

Architects Pronit Nath and Amisha Nath, based in the city, refute allegations in a Rs 1 crore cheating case filed by actor Samir Kochhar and his friend Varun Bangera. They claim it was the accusers who defaulted on payment for two flats. ...

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Oberoi Realty completes acquisition of 6.4 acres land in Thane for Rs 196 crore

Wednesday 6th December 2023

Oberoi Realty has successfully acquired approximately 6.4 acres of land for around Rs. 196 crore, paid in full. ...

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UP-RERA issues standard directions for advertisements of projects

Tuesday 5th December 2023

Following a directive from the Uttar Pradesh government regarding real estate project advertisements, the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has instructed all stakeholders to adhere to specified standard guidelines for promotions and advertisements. ...

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Brigade Enterprises to jointly develop four acres project in Mysuru

Tuesday 5th December 2023

Brigade Enterprises has engaged in a joint development agreement with landowners to construct a residential project spanning four acres in Kurubarahalli, Mysuru. The project's developable area is approximately 0.40 million sq ft, with a gross development value (GDV) of Rs 300 crore. ...

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MahaRERA to set framework for quality assurance of real estate projects

Tuesday 5th December 2023

In response to a query, Minister Kishore mentioned that the Maharashtra Real Estate Regulatory Authority (MahaRERA) aims to implement a robust framework for quality assurance, mirroring Singapore's Building and Construction Authority (BCA), marking the first such initiative by an Indian regulatory authority. ...

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Over 340 proposals cleared till Nov 16 to complete stalled real estate projects: Government

Tuesday 5th December 2023

The government, as of November 16 this year, greenlit 342 proposals to revive stagnant real estate projects, benefiting over 2 lakh homebuyers and unlocking projects valued at Rs 94,367 crore. Union Minister Kaushal Kishore revealed these approvals under the Special Window for Completion of Affordable and Mid-Income Housing (SWAMIH) investment fund. ...

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About 5,000 registries across 20 projects in past four months: Greater Noida development body

Monday 4th December 2023

Over the last four months, the Greater Noida Industrial Development Authority (GNIDA) has completed almost 5,000 property registrations. This followed developers of more than 20 housing projects settling their outstanding payments and obtaining occupation certificates from the Authority.   ...

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Ericsson in talks to pick up over five lakh sq ft workspace on lease from Skootr in Gurugram

Monday 4th December 2023

Ericsson, the Swedish telecom equipment manufacturer, has entered agreements to lease up to 525,000 square feet of office space from Skootr at the Vatika One on One building in Gurgaon. This marks one of the most significant managed workspace deals in the country, as disclosed by three individuals familiar with the matter. ...

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Everest Food promoters buy two more flats in Mumbai Worli for Rs 143.50 crore

Monday 4th December 2023

Everest Food Products' promoter group, renowned for the Everest spice brand, has acquired two additional sea-view luxury apartments in a high-end residential tower on Dr. Annie Besant Road in Mumbai's upscale Worli area, totaling a transaction value exceeding Rs 213 crore, with the latest purchase amounting to over Rs 143.50 crore. ...

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