Realty News
CIDCO (City and Industrial Development Corporation) had appointed a Committee, headed by Mr. N V Mirani the former Principal Secretary, to survey the present condition of buildings constructed nearly 20-25 years ago in Navi Mumbai. The Mirani Committee, which submitted its report recently, stated that the buildings have become decrepit due to the lack of [...] Continue Reading »
An upcoming housing project, Sports City, in Sector 150 of Noida will have to obtain Environmental Clearance (EC) before the commencement of any work. This was directed by the National Green Tribunal today and the developers of an upcoming housing project, Sports City have to strictly follow that. A green bench headed by Justice Swatanter Kumar [...] Continue Reading »
The Braj Parikrama route, spans across the three states of Uttar Pradesh, Haryana and Rajasthan. The National Green Tribunal has banned any new construction within the100 metres on both the sides of Braj Parikrama route and declared it as it as a ‘No Development Zone’. The Braj Parikrama route spans across the Mathura district of [...] Continue Reading »
The Competition Commission of India (CCI) had levied a penalty on DLF on August 12, 2011. In another case, which also related to unfair conditions imposed on buyers, it had asked DLF to ‘cease and desist’ but did not levy any penalty. The Supreme Court on Thursday continued its July order and barred the CCI [...] Continue Reading »
The Reserve Bank of India (RBI) has dropped the threshold for partial take-out financing by new lenders to a minimum of 25 % of the outstanding loan from 50 % now. The guidelines for refinancing the project loans were eased to quite an extent and the RBI declared that the reworked loan will not be considered [...] Continue Reading »
The Ajay Piramal Group is exploring the possibility of buying into Infrastructure Leasing & Financial Services (IL&FS). The Piramal Group is an Indian multinational Company with presence in Pharmaceuticals, Healthcare Services, Life Sciences, Glass Manufacturing and Real Estate. The company’s legal and finance teams are busy charting out the contours of the proposed deal, which has been under negotiation [...] Continue Reading »
Kotak Realty Fund is all set to sell its luxury golf villa project near Sarjapur Road in Bangalore for an undisclosed sum. This will be bought by the realty firm Assetz Homes Pvt. Ltd and real estate private equity firm Avenue Venture Partners LLP. The project, Clover Greens, has an 18-hole operational golf course and will [...] Continue Reading »
Prime Minister Narendra Modi’s vision of “housing for all by 2022” may turn out to be a difficult mission to accomplish. The developers are not showing much interest in the low-cost housing projects citing regulatory hurdles, high land cost and low returns making such projects non attractive and difficult to maintain. Currently, there is a shortage [...] Continue Reading »
Non-resident Indians planning to buy property in India jointly with their spouses holding foreign passports could soon be allowed to do so. The Reserve Bank of India (RBI) is planning to relax the restrictions under the Foreign Exchange Management Act (FEMA), which make such acquisitions difficult. Currently if an NRI wants to buy a house or any [...] Continue Reading »
In order to expose the murky land deals of the state, a new book Gustkahi Maaf-Haryana has been released at New Delhi on Monday. According to writer of the book and senior journalist Pawan Bansal, he has tried to reveal in the book how the farmers’ previous land was looted by powerful colonizers by misusing [...] Continue Reading »
