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The Nagpur Municipal Corporation (NMC) has compiled a list of 1,664 properties, including hotels, clubhouses, lawns, hospitals, and theaters, with outstanding property tax payments totaling Rs 66.38 crore. Private hospitals, which have been criticized for misusing parking spaces and causing traffic problems, top the list of defaulters, owing the corporation Rs 27.29 crore collectively. ...
To safeguard home buyers from potential fraud, the Gujarat Real Estate Regulatory Authority (Rera) will take proactive measures and impose penalties on builders involved in soft launches or pre-Rera marketing without obtaining the mandatory Rera registration number. Many developers sell units at lower rates before obtaining Rera approval, which violates Rera regulations and leaves buyers unprotected under the law. ...
Co-working spaces firm EFC India is exploring various options, including a Follow-on Public Offer (FPO), to raise funds for expanding its capacity to accommodate 60,000 seats by the end of this fiscal year. The company recently announced the acquisition of approximately 5 lakh square feet of office space in Pune, Noida, Hyderabad, and Kolkata. ...
Godrej Properties (GPL) has purchased 49% of Godrej Skyline Developers' (GSDPL) equity shares for Rs 37.64 crore from the existing shareholder. Following this acquisition, the company, along with its wholly-owned subsidiary Godrej Projects Development (GPDL), now holds 93% of GSDPL's equity share capital. ...
The Municipal Corporation (MC) commissioner, Sachin Gupta, conducted a review meeting of the property tax branch on Tuesday and instructed them to send notices to 22 government property tax defaulters who collectively owe Rs 23.84 crore to the MC. ...
LinkedIn, the social media platform focusing on business and employment, has extended its lease for approximately 18,000 square feet of office space in the Maker Maxity commercial project located in Mumbai's business district, Bandra-Kurla Complex (BKC). This lease renewal is for a long-term tenure of five years. ...
With the updated GRAP set to be enforced from October 1, the Delhi Pollution Control Committee (DPCC) has instructed construction companies to register on a designated web portal to be allowed to carry out their activities. DPCC has also reinforced the importance of adhering to a 14-point dust mitigation plan for all construction and demolition activities in Delhi. Additionally, they have introduced a 27-point checklist for projects exceeding 500 square meters in a bid to reduce dust pollution. ...
Cement manufacturers have recently increased prices by approximately 12-13% in response to rising input costs, even though the expected post-monsoon demand surge has not yet materialized. This move is seen as a bold departure from the cautious approach cement companies had taken in setting prices in previous months. ...
Representatives from the Noida, Greater Noida, and Yamuna Expressway authorities are scheduled to convene in Lucknow on Thursday to discuss strategies for reviving stalled real estate projects in their respective regions. They will also deliberate on the recommendations put forth by a committee chaired by bureaucrat Amitabh Kant regarding potential waivers for developers to facilitate the completion of delayed projects. ...
In a money laundering case, a Delhi court has acknowledged the charge sheet submitted by the Enforcement Directorate against the chairman and promoter of the Supertech real estate group. Special Judge Devender Kumar Jangala has stated that there appears to be sufficient incriminating evidence against the accused in the case. ...
The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has labeled the advertisements for Sarvottam World as "misleading and fraudulent." UP RERA has cautioned prospective buyers and investors about an upcoming project called 'Megapolis/Sarvottam Megapolis' within the hi-tech township of 'NEWOIDA,' which is being promoted by 'Sarvottam World.' These misleading advertisements have been disseminated across various media platforms, including newspapers, radio, and digital channels, according to an official statement. ...
Godrej Fund Management, the real estate private equity arm of the Godrej Group, is nearing the sale of office space spanning three floors in the Godrej BKC commercial project located in Mumbai's Bandra Kurla Complex. The deal, valued at approximately ?900 crore, is in its final stages, with both parties having signed a term sheet, and property due diligence is underway. ...
Japan's Sumitomo Corporation Group has finalized a long-term lease agreement for a nearly 3-acre land parcel in Mumbai's Bandra-Kurla Complex, in collaboration with the Mumbai Metropolitan Region Development Authority (MMRDA), for a sum exceeding Rs 2,067 crore. This land parcel was acquired through an 80-year lease agreement by Goisu Realty, a subsidiary of Sumitomo Realty & Development Company. ...
The Allahabad High Court has requested that banks which provided financing to the Jaypee Group clarify their positions in a case related to the cancellation of 1,000 hectares of land allocated to the group by the Yamuna Expressway Industrial Development Authority (YEIDA). Notably, this disputed land includes the Buddh International Circuit, where the three-day MotoGP event concluded on Sunday. ...
The construction of residential buildings in south and east Delhi may soon become more expensive due to the Municipal Corporation of Delhi (MCD) considering the imposition of "compensatory regulatory charges." Previously, this fee was only applied in north Delhi by the former north corporation. The proposed fee will be calculated based on the built-up area of new residential constructions or renovations to existing residential buildings. ...
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