Realty News
HUDA authorities find violations in building layouts in newly constructed houses within its jurisdiction, architects will be issued notices, not house owners. Usually a house owner is sent notices if HUDA finds any discrepancies at the time of issuing the completion certificate. The home owner is not issued such a certificate in case of a [...] Continue Reading »
The Madras high court ruled against the government’s regularisation drive. The order is expected to lead to complete demolition of the commercial complex Vigneswar Cresta at Lakshmi Mills junction in the city. After the order, the Local Planning Authority (LPA) and Coimbatore Municipal Corporation had initiated measures to demolish the illegal floors of the building. The cost [...] Continue Reading »
The joint venture real estate company of Dubai’s Emaar Properties and India’s own MGF Group is seriously considering the idea of what it calls an “iconic” building in India. The venture has since its launch in the country in 2005, remained focused on high-end residential and commercial properties (in the ratio of 9:1). The development activities of [...] Continue Reading »
In one of the first real estate sentiment indices, Industry body FICCI and residential and commercial property consultancy, Knight Frank India have concluded an overall negative sentiment for realty across all zones including the National Capital Region (NCR) and Mumbai Metropolitan Region (MMR). The index further cited that the mood have got worse than what it was in the last [...] Continue Reading »
The Maharashtra government plans to close down around 22 toll collection booths, in addition to about 65 which had already been shut. Roads constructed with expenditure below Rs 10 crore are expected to be toll free soon. The move is an attempt to escalation of confrontation with opposition parties, especially the Maharashtra Navnirman Sena (MNS). [...] Continue Reading »
The Mumbai high court sought response to social activist Vikrant Karnik’s letter alleging illegalities in sale of flats. The bench comprising of bench of Justices S J Vazifdar and B P Colabawala issued notices to the state chief secretary, leading developers, Income-Tax and municipal commissioners of Thane and Mumbai. In early 2013, the court had, [...] Continue Reading »
The World Bank and the government of India signed a loan pact on Wednesday as per which USD 175 million will be provided by the multi-lateral lending institution to fund a second highways project in the state of Gujarat. As per a Finance Ministry release, “The loan agreement for World Bank (IBRD) assistance of USD 175 million for second [...] Continue Reading »
Famed Realty firm, Ambience Group will invest about Rs 1,800 crore to develop an integrated township and two housing projects over the next four years. The Delhi based group plans to launch two housing projects in Noida and Gurgaon, comprising a total of 1,100 housing units and a 350-acre township at Panipat. The 150-acre project in Gurgaon, named as [...] Continue Reading »
Punjab Government, after spending crores on preparing Detailed Project report of the proposed Ludhiana Metro project (since 2011), estimated to cost a whopping Rs 10,330 crore, has on Wednesday dumped the project and doled out much ‘cheaper and economical’ Bus Rapid Transit System (BRTS) for Ludhiana which will cost Rs 1,250 crore only. The Government [...] Continue Reading »
The Union minister for urban development (UD), Kamal Nath, accorded an in-principle approval for the Pune metro project on Wednesday, helping the project move a step further towards realization. The project is planned to cover a 31.51 km stretch along two corridors—PCMC building to Swargate and Vanaz to Ramwadi. The approval will enable the state to fast track [...] Continue Reading »
