Apartment News
The Ghaziabad Development Authority (GDA) has sealed 170 flats at Ghaziabad under the Amrapali Village Apartments in Nyay Khand-II, Indirapuram for violating building bylaws. The authority has found that the builder illegally constructing two towers with 68 and 102 flats inside its already existing Amrapali Village housing complex in Indirapuram. An inspection team has found [...] Continue Reading »
Implementation of waste management projects will be mandatory for residential apartments in Chennai. The Chennai Corporation is working on a proposal for compulsory source segregation of waste material at large residential apartments in the city. If the residential complexes do not initiate these projects, they will be fined, as per a senior corporation official. The [...] Continue Reading »
The Bangalore Urban District Consumer Disputes Redressal Forum has ordered the SJR builder to pay compensation to a petitioner for not handing over an apartment in Bangalore on time. The complainant had booked an apartment at SJR Luxuria with SJR Enterprises situated in Arakere, Bangalore. As on April 26, 2011, the petitioner had paid Rs [...] Continue Reading »
Private equity firm IIFL Realty Fund has planned to invest in redevelopment project in Mumbai. The equity firm has made an agreement to invest Rs 80 crore in a housing society-cum-slum-redevelopment project in Sion Koliwada area. Around 1.2 million sq ft of saleable area will be developed in the project. In another PE investment Sun [...] Continue Reading »
Real Estate firm Supertech Limited has planned to raise Rs 3000 Crore from PE investors. The real estate builder has also planned to construct a 10 acres housing project in Gurgaon. The project will construct 600 apartments. And some portion of the raised amount will be invested in the project. The remaining amount will be [...] Continue Reading »
The Reserve Bank of India has brought about many new directives and guidelines for taking Home Loans. The most controversial decision was the exclusion of stamp duty, registration fees and all other allied charges while calculating the loan to value when taking a home loan. The loan to value is the loan amount taken against [...] Continue Reading »
17-acre plot of DLF in Mumbai’s Lower Parel area might be sold at Rs 2900 crore. India’s biggest real estate firm DLF has planned to sale the land to reduce its debt burden. It is said by a DLF official that the Mumbai-based builder Lodha Group and American private equity fund Vornado Realty Trust had [...] Continue Reading »
The National Real Estate Development Council opposed the Land Acquisition Bill saying it should not be applicable to private builders as it will impact development of infrastructure across the country. The builders group feels that the suggestion by the Parliamentary committee will impact the infrastructure, industrial and township development program in the country. Setting tough [...] Continue Reading »
Considering the cost of the properties in India it seems that the demand for the properties in India is increasing. But the scenario is opposite to what it looks like. The costs of properties are raising and the demand has fallen in all major cities in India. The main reasons of falling demand of properties [...] Continue Reading »
L&T’s construction division has won orders valued at Rs 2,592 crore for the construction of multi-storied residential apartments in Bangalore and Gurgaon, including additional work in ongoing projects. In the commercial segment, L&T has got orders totaling Rs 1,165 crore for the construction of mixed-use development, a hospital building and institutional buildings. The company has [...] Continue Reading »
