Bangalore
In 1985, BDA passed a notification to acquire survey number 75 in Nagawara for forming the HBR II Stage layout, and the related acquisition was done in 1988. Bangalore Development Authority (BDA) officials on Tuesday recovered four acres of prime land worth Rs 300 crore in Nagawara, North Bengaluru. A building and sheds were erected there illegally, said, officials. [...] Continue Reading »
Listed real estate professionals are now more careful about debt level and new launches. They are centring on completion and deliveries of residential flats, helping them to push down their debt but also accumulating more market share. As per ICRA, India’s top 10-builders sold 14.55 mn sq.ft. in H1 FY2020. The Y-o-Y growth in sales [...] Continue Reading »
The Karnataka Govt plans to revisit existing affordable housing schemes that offer subsidies on home loans and replace them with interest-free home loans. This is part of the government’s mission to support PM Modi’s ‘Housing for All’ scheme. The government plans to build 19 lakh houses in 30 months. If everything goes as per the [...] Continue Reading »
State Bank of India (SBI) and Finance Ministry (MoF) are exploring for a legal frame where the suggested Alternative Investment Fund (AIF) for strengthening delayed housing projects will have the first charge on assets and cash flow of companies getting funding. That will finance 1,600 delayed housing projects carrying 4,58,000 housing units across the country. [...] Continue Reading »
BENGALURU: The high court has burned down as unconstitutional the allocation of houses/sites of the Karnataka Housing Board (KHB) under two sections of “persons in public life” engraved within the 10 percent discretionary quota. Beneath category A, 25 percent of the discretional quota sites were placed at the conclusion of KHB, to be administered to [...] Continue Reading »
BENGALURU: The industrial society for real estate, the Confederation of Real Estate Developers’ Associations of India (Credai), has driven the Karnataka government for a specific unit to revive the division. Credai-Karnataka has prompted the state to do continue with the No Objection Certificates (NOCs) for program penalty, in sequence to mark down the time missed [...] Continue Reading »
A day after declaring Rs 25,000 crore Alternative Investment Fund (AIF) for stalled housing projects by FM Nirmala Sitharaman, has made it clear that residential housing projects facing litigation in High and Supreme Court will not be cover under this funding plan. At the same time, the government suggested homebuyers to interact with lenders for [...] Continue Reading »
Providing relief to lakhs of homebuyers, FM Nirmala Sitharaman announced an alternative investment fund of Rs 25 crore to help the real estate sector for 1,600 stalled housing projects covering 4.58 lakh units. Government’s aim to give incentive to the real estate market to improve. The decision was approved by the Union Cabinet at a [...] Continue Reading »
From the beginning of November, a one-time password (OTP)-based verification will be compulsory for all property registrations in the state. This OTP-based property registrations is intended for restricting duplication and other irregularities during property registration. This move also comes in the wake of the Kaveri Software, which contains the property records database, being hacked. Karnataka has [...] Continue Reading »
Shapoorji Pallonji Real Estate, marks its foray into the Bengaluru market with its residential project Parkwest in Bangalore. The project offers 2 and 3 BHK, garden duplexes and penthouses of size ranging 1245 sqft to 2921 sqft. The project is spread across sprawling 47 acres landmark destination with lush greenery and ample open spaces is [...] Continue Reading »
