Realty News
The slowdown in sales of properties in Mumbai has largely hit the luxury segment. According to the real estate consulting firm Knight Frank an estimated 80,000 unsold houses under construction are in the Mumbai Metropolitan Region (MMR). The study reveals that South and Central Mumbai are the worst hit. While there are takers for units [...] Continue Reading »
Micro Technologies (India) Ltd, a leading global developer and marketer of IT, security devices and solutions, have been reportedly asked to provide a comprehensive technology and security cover for the 1.2 million square feet World Trade Park (WTP) project. For the coveted project, it has sought partnership with M/S Sincere Architects Engineers Pvt. Limited to [...] Continue Reading »
A high-level coordination committee of the Congress party asked the Oommen Chandy government in Kerala to revise existing laws and bring in suitable new laws to protect the agricultural lands from getting used for constructions in the state. Till now, around seven lakh hectares of total nine lakh hectares of farm land have been either [...] Continue Reading »
Three realtors of Surat have been caught with Rs 18.50 crore as undisclosed income to the income tax (I-T) department on Thursday. I-T officials had conducted a search and survey operation under the Income Tax Act, 1961 on few realtors in Varachha and Mota Varachha areas in Surat on Tuesday. About 45 places in the [...] Continue Reading »
In 2007, the Central Ground Water Authority (CGWA) had cautioned Gurgaon that if it continuously uses groundwater at high extent, then the resource would be exhausted by 2017. But the Haryana government overlooked the warning and continued issuing licences to real estate companies which abruptly exploited the resource. According to experts, Gurgaon has been drawing [...] Continue Reading »
Owing to declining sales and liquidity crunch scenario, real estate developers of Ahmedabad are looking for innovative offers to attract buyers. Developers and promoters are offering schemes like free parking, interest free EMIs, free club membership, and varied discounts to buyers though they may not offer direct cash discounts. Local developers in Ahmedabad have not [...] Continue Reading »
Lanco Infratech, a realtor limited to power and road projects, with nearly Rs 23,000 crore of long-term debt, is negotiating with some banks for an easier loan repayment schedule. Sources said that the company is negotiating with individual banks for extension of loan tenure and lowering of interest cost as some of its power plants [...] Continue Reading »
Real estate tycoon G L Raheja won the case against industrialist Nusli Wadia as the Bombay High Court has allowed his company, Ferani Hotels, to build on land in Malad and sell the premises without any condition. Wadia, outraged by the court’s hearing, voiced that he would appeal against the order before the Supreme Court. [...] Continue Reading »
Spat was caused between Bruhat Bangalore Mahanagara Palike (BBMP) and Residents Welfare Association of Pillana Garden area due to Bangalore Water Supply and Sewerage Board (BWSSB) asserting residents of the area to pay half the money to re-lay the footpaths that were being broken by the civic utility. According to the residents, the BWSSB broke [...] Continue Reading »
The Municipal Corporation of Gurgaon (MCG) showed signs of progressive actions as they prepared a development plan with a cost estimate of Rs. 25 crore. The project includes damaged roads, sewers, drains and other and for developing the areas under its jurisdiction the MCG sub-finance committee held an urgent meeting to clear estimates prepared by [...] Continue Reading »
