Realty News
The building bylaws of 1983 have no provision for the structural safety and stability of existing buildings. More perturbing is the data from the Susceptibility Atlas of India (2007), which shows that out of 33.8 lakh buildings, over 31 lakh are at medium risk during an earthquake and 1.46 lakh are at high risk. On [...] Continue Reading »
Recently lashed out at South Delhi Municipal Corporation for glossing over illegal constructions mushrooming in Mehrauli was lashed out by the Delhi High court. As far as its assurance of taking action is concerned the court was quick to discover that most of the claims of the SDMC were superficial. Justice S K Mishra gave [...] Continue Reading »
In north India after completing the first phase of Rs 5,000-crore knowledge hub, Kochi Smartcity, by next year, the Dubai-based Tecom will plan a similar project, with an investment to the tune of Rs 10,000 crore. The source said that the first phase comprises a building of 6.5 lakh sq ft built-up area, spread across [...] Continue Reading »
After the new government takes charge the lackluster real estate sector is unlikely to revive soon. For concrete signs of revival experts are looking at a timeframe of anything between 12 and 18 months from the time of the new government. That too is conditional. An upswing in the realty sector will be possible only [...] Continue Reading »
NHAI is a lot more optimistic about FY15 after a dismal FY14, in which approximately 1,400 km of expressways were awarded for construction, and hopes to get back to levels seen in FY12, reports sources in New Delhi. However, NHAI’s commentary is pessimistic and it says projects in the EPC mode are dependent upon it [...] Continue Reading »
According to Minister for Urban Affairs Manjalamkuzhi Ali the state government is going to introduce a slew of measures to streamline the real estate sector. Some of the steps are setting up a Real Estate Authority, online registration facility for developers and amendments to the Coastal Regulation Zone Act. The minister was at Recon 2014, [...] Continue Reading »
The National Highways Authority of India (NHAI) is looking at ways to ensure against unduly aggressive bids with a large number of developers abandoning flagship projects — the GMR Group walked out of the Kishangarh-Ahmedabad project in FY13. While the GMR Group had bid a first-year premium of Rs 636 crore for this project, the [...] Continue Reading »
Embassy Group and Sobha Developers shelled out over Rs. 1,500 in what can be termed as one of the biggest real estate deals in the country. Embassy Group and its joint venture partner, private equity firm Blackstone, acquired 60 per cent stake in a 106-acre business park for Rs. 1,200 crore. Sobha Developers shelled out [...] Continue Reading »
Residents rue that repair and tarring work of the road was progressing at a snail’s pace. They alleged there was foul play in delay being caused.The Janhit Manch, Kullu, headed by Mahender Thakur, held a protest at the camping site near Raison, 11 km from here, recently with residents of Raison, Dobhi and Shirad, along [...] Continue Reading »
Subsequent to Enforcement Directorate charged its join owners Mr Shahid Usman Balwa and Mr Vinod Goenka with money laundering in the 2G scam along with more than a dozen other accused, DB Realty shares plunged more than 5.5 per cent. On the Bombay Stock Exchange, The stock ended at Rs 70.65, down 5.10 per cent. [...] Continue Reading »
