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In the last 1.5 years, a coalition of small-scale developers, with support from property brokers, has elevated land speculation in Navi Mumbai. After securing Cidco plots in auctions by quoting exorbitant rates—sometimes three to four times the reserved price—they proceeded to sell apartments without the necessary permissions or allotment letters from Cidco. ...
DLF Building and Services Pvt Ltd, an entity within the DLF group, has acquired 31,254 sq ft of high-end office space at Horizon Centre on Golf Course Road in Gurgaon for Rs 81 crore, as revealed by documents on FloorTap.com, a commercial property marketplace. ...
MahaRERA has taken decisive action by suspending the registration of 248 projects, including three MHADA projects in Pune and Beed. These projects, registered in February, face suspension due to their failure to update quarterly progress reports. Additionally, registration for 224 projects registered in March is on the verge of suspension for similar non-compliance regarding quarterly project reports. ...
Property registrations in Delhi came to an abrupt standstill on Monday following a directive from the Real Estate Regulatory Authority (RERA). The directive instructed all sub-registrars not to register new properties that contravene the maximum number of dwelling units permitted on a certain plot size under the Unified Building Bye Laws for Delhi, 2016 (UBBL). ...
The Uttar Pradesh government is gearing up to unveil a rehabilitation package for legacy stalled projects. The package, based on recommendations from an expert panel led by former Niti Aayog CEO Amitabh Kant earlier this year, is highly anticipated by realtors and homebuyers. It is expected to include a rescheduling scheme enabling builders to settle dues owed to the state in manageable instalments. ...
The promoter group of Everest Food Products, renowned for its Everest spice brand, has successfully purchased a sea-view luxury apartment in Mumbai's plush Worli locality. This upscale residence, located on the 37th habitable floor of the Oberoi Three SixtyWest tower, spans an impressive 6,130 sq ft carpet area. The transaction, valued at over Rs 73.50 crore, reflects a premium rate exceeding Rs 1.16 lakh per sq ft. ...
BMC chief I S Chahal directed 96 squads to file FIRs against developers ignoring air pollution mitigation measures. Despite stop-work notices, some construction sites continue without pause. ...
Delhi High Court granted bail to former Amrapali Group director Ajay Kumar in four cheating and fraud cases filed by police on complaints from homebuyers in Greater Noida. Homebuyers allege stalled projects despite payment. ...
Priyanka Chopra Jonas, busy with Hollywood projects, sold two Mumbai apartments in Andheri to director Abhishek Chaubey for a total of Rs 6 crore. ...
The Bombay High Court has ruled that the 50% rebate for developers on additional Floor Space Index (FSI) during the pandemic, granted by the state government, applies until project completion. The court directed BMC to renew building permissions without insisting on differential premiums. ...
A recent notification from the state urban development department mandates city builders in Mumbai to incorporate transfer of development rights (TDR) from the Dharavi redevelopment project. The directive specifies that 40% of TDR utilized in a building project must originate from the Dharavi initiative. Market observers express concerns about a potential surge in real estate prices in Mumbai when TDR from the Dharavi redevelopment project becomes accessible. ...
In the context of the Insolvency and Bankruptcy Code process, Adani group, JSW Cement (owned by Sajjan Jindal), and ArcelorMittal Group are potential buyers for Vadraj Cement, an ABG Shipyard group company. The Bombay High Court had ordered Vadraj Cement's winding up in August 2018 following a legal dispute with a trade creditor, Beumer Technology India. ...
Brigade Group has entered into a joint development agreement (JDA) with Krishna Priya Estates and Micro Labs for the development of a 14-acre land parcel in Yelahanka, Bengaluru. The project aims to create a residential housing space with a total area of approximately two million sq ft, carrying a gross development value (GDV) of Rs. 2,100 crore. ...
Paresh Parekh and Vijay Parekh, directors of Suraksha Realty, recently acquired two luxury apartments in Mumbai's Worli area for a combined sum of Rs 100 crore. These residences, situated on the top floors of Naman Xena, offer 6,458 sq ft of carpet area each on the 26th and 27th floors of the ongoing construction project. ...
Sahara Group asserts full control over its real estate assets, including Aamby Valley City near Mumbai and Pune, following the passing of founder Subrata Roy at the age of 75 in Mumbai. The group emphasizes that these assets are operating at their full potential. ...
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