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The Gaurs Group, based in Noida, has acquired 18 acres of land in Sector 129 of Noida and a stalled project in Jaypee Greens, Greater Noida, for approximately 1700 crore rupees, according to three individuals familiar with the transaction. The Noida land will be utilized for a Grade-A retail and office project. In Jaypee Greens, the real estate company will complete two stalled residential towers and create an additional 1.5 million square feet of space. ...
MahaRERA has extended the deadline for 32,000 registered real estate agents to complete their competency certification from September 1 to January 1, 2024. The order specifies that only agents with valid certificates will be permitted to apply for and renew real estate registrations. ...
Architects, who are now authorized to issue occupation certificates (OCs) for residential buildings under a self-certification scheme, are calling for a seven-day time limit for their responsibilities after granting the certificates. They also propose that property owners should be held accountable if there are any rule violations or changes in the buildings after this seven-day period. ...
DLF's rental subsidiary, DCCDL, has successfully raised Rs 1,100 crore through the issuance of non-convertible debentures on a private placement basis. DLF has disclosed that the DLF Cyber City Developers Ltd (DCCDL) board has approved the allocation of these debentures. DCCDL has sanctioned the allotment of 1,10,000 senior, listed, rated, secured, redeemable, transferable, rupee-denominated NCDs (Non Convertible Debentures) with a face value of 1 lakh each, on a private placement basis to eligible investors. ...
Viacom18, the broadcasting unit of Indian billionaire Mukesh Ambani, is reportedly finalizing a lease agreement with Blackstone-owned Nucleus Office Parks for its new headquarters in Mumbai, spanning 400,000 square feet. This new office will be situated across approximately eight floors within the "One International Center" complex in Mumbai's Lower Parel business district. Viacom, known for its TV channels and the JioCinema digital streaming platform, competes with giants like Walt Disney in India. ...
In a firm response to builders, the Maharashtra Real Estate Regulatory Authority (MahaRera) has frozen the bank accounts of more than 40 real estate projects in the Nagpur division. This includes projects in Nagpur city and surrounding districts in eastern Vidarbha, such as Wardha, Bhandara, Gondia, Gadchiroli, and Chandrapur. ...
Bafna Motors (Mumbai), a prominent dealer for Tata Motors commercial vehicles, has successfully sold the leasehold rights to a prime 4-acre land parcel in Navi Mumbai's Nerul locality within the Trans Thane Creek industrial area for an impressive sum of over Rs 145 crore to Greenscape IT Park LLP. ...
On the first day of its Initial Public Offering (IPO), real estate firm Signature Global (India) witnessed a 54 percent subscription rate. The public offering garnered bids for 60,34,704 shares out of the 1,12,43,196 shares available, according to data from the NSE. Non-institutional investors subscribed 1.42 times, while the Retail Individual Investors (RIIs) category achieved an 89 percent subscription rate. ...
Bollywood actor Ranbir Kapoor has leased his luxurious apartment in Pune's Trump Towers for 36 months at a monthly rate of Rs 4 lakh. The apartment, situated on the 10th floor of one of the towers in Kalyani Nagar, spans nearly 6,100 sq ft. It has been rented to Duroshox, a Pune-based company that specializes in suspension and motion control solutions for automobile Original Equipment Manufacturers (OEMs). ...
The Maharashtra State Road Development Corporation (MSRDC), responsible for major infrastructure projects in the state, plans to monetize 24 land parcels along the Pune-Mumbai expressway. These parcels, totaling 450 hectares, will be leased to generate funds for key infrastructure projects, including the Samruddhi expressway, Pune ring road, Virar-Alibaug multimodal corridor, and Jalna Nanded expressway, among others, according to a senior MSRDC official. ...
A significant land deal has taken place on S G Road, with a plot of approximately 4,000 square yards, situated between Iskcon Circle and Prahladnagar, being sold at a record rate of Rs 3.25 lakh per square yard. The buyer is in discussions with a developer for a joint venture project on the land. This transaction is noteworthy as it is the first major land deal since the jantri revision in mid-April. ...
200 income tax officials have conducted raids at 28 locations over the past five days, uncovering alleged tax evasion of Rs 400 crore by five real estate developers, some of whom own hotels and schools in the city. The raids began on September 14 and are still ongoing. ...
The National Company Law Tribunal (NCLT) dismissed a plea from two unit buyers of a commercial complex, stating that the Insolvency & Bankruptcy Code cannot be used as a "tool for recovery." The plea sought to initiate insolvency proceedings against Orris Infrastructure for an alleged default of Rs 3.60 lakh. The NCLT bench noted that the buyers had already received full payment from Orris Infrastructure according to their agreement. ...
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken action against 388 real estate projects by suspending their registrations due to non-compliance with the mandatory quarterly updates of project information, as required by the Real Estate (Regulation & Development) Act, 2016. According to the act, real estate developers must register their projects with MahaRERA and regularly update project-related information. ...
The Delhi Development Authority (DDA) is set to unveil its next housing scheme, featuring 3,000 premium properties, ahead of Diwali. These flats will be allocated through a lottery system and will include penthouses, Super HIG, HIG, MIG, and EWS flats in locations such as Dwarka, Lok Nayak Puram, Vasant Kunj, among others. Officials have noted that several of these properties are currently under construction. ...
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