Realty News
In one of the petitions filed at the Madras high court, there was instant action taken against multi storey buildings which were constructed without any kind of mandatory safety measures. The buildings are located in the George Town area where fire accidents can be stopped. There was a notice ordered on Thursday by Chief Justice [...] Continue Reading »
The Chennai Corporation has recently come up with a proposal which will widen over 10 roads which are congested. Some of them include Madras Race Club, Nelson Manickam Road, Santhome and Kodambakkam. This shall encourage the spirits of several commuters. The Corporation Council has decided to pass a total of 48 resolutions which includes several plans [...] Continue Reading »
The Delhi Development Authority has recently come to a conclusion that it will pay an interest of 8% instead of the usual 5% on the deposits of registration for all the housing schemes of the future. The vital piece of information was given away by the urban body. The decision was finalised during a meeting [...] Continue Reading »
Kotak Realty Fund, a part of the Kotak Mahindra Group, has made the first investment from its newly raised $392 million offshore fund in a residential project in Mumbai. Kotak has invested Rs.300 crore in Mumbai-based real estate firm Nirmal Group’s project in suburban Mulund. The investment has been done through the structured finance route. [...] Continue Reading »
Illegal urban housing is not only limited to slum dwellings, many high end apartment complexes too come under that ambit. The residents of the Campa Cola compound in Mumbai had staged agitations and had not allowed the demolitions a couple of times finally had to give way to the Supreme Court verdict. The Supreme Court [...] Continue Reading »
Middle Income group individuals have been waiting for home prices to reduce and hence the developers have surplus inventory of the ready to move in units. The high net worth individuals (HNIs) have been using this as an opportunity to buy these units at substantial discounts and the developers are forced to do so as the [...] Continue Reading »
A few years back Infosys was a major IT player with operations across the globe. However the profit margins had reduced in the last few years and the investors were unhappy with the low dividends. However it seems now the company is back on track with a lean management and is all set to open [...] Continue Reading »
N Baijendra Kumar the Principal Secretary with the department of commerce and industry mentioned that the state government is trying to amend the policy as there are many complications in the transfer of government land for other use. The Chhattisgarh government is trying to ease this and is working on a proposal to amend the policy [...] Continue Reading »
Union Minister of Road, Transport and Highways Nitin Gadkari is all set to give a better infrastructure to the nation and has recently cleared stalled highway projects worth Rs 40,000 crore out of the Rs 75,000 crore of stalled projects. The government is now set to sort out issues of the remaining beleaguered projects relating to [...] Continue Reading »
India’s first real estate investment trust (REIT) will be set up very soon by Blackstone Group (BX.N) and its partner, Embassy Group. This trust will be listed on one of the country’s stock exchanges too. The government is working on finalising the rules that will govern the trusts and by next month the directive will be issued [...] Continue Reading »
