Realty News
Implementation of waste management projects will be mandatory for residential apartments in Chennai. The Chennai Corporation is working on a proposal for compulsory source segregation of waste material at large residential apartments in the city. If the residential complexes do not initiate these projects, they will be fined, as per a senior corporation official. The [...] Continue Reading »
The Bangalore Urban District Consumer Disputes Redressal Forum has ordered the SJR builder to pay compensation to a petitioner for not handing over an apartment in Bangalore on time. The complainant had booked an apartment at SJR Luxuria with SJR Enterprises situated in Arakere, Bangalore. As on April 26, 2011, the petitioner had paid Rs [...] Continue Reading »
Private equity firm IIFL Realty Fund has planned to invest in redevelopment project in Mumbai. The equity firm has made an agreement to invest Rs 80 crore in a housing society-cum-slum-redevelopment project in Sion Koliwada area. Around 1.2 million sq ft of saleable area will be developed in the project. In another PE investment Sun [...] Continue Reading »
Shortage of sand is a major crisis which is affecting the building construction in Mangalore. The government wants that the builders should start using the silt accumulated in the Lakhya dam. According to the government, if the developers start using the silt as an alternate material for Sand, it will help the dam to increase [...] Continue Reading »
Real Estate firm Supertech Limited has planned to raise Rs 3000 Crore from PE investors. The real estate builder has also planned to construct a 10 acres housing project in Gurgaon. The project will construct 600 apartments. And some portion of the raised amount will be invested in the project. The remaining amount will be [...] Continue Reading »
Emaar-MGF is looking at fast completion of its existing projects in India in the current financial year rather than launching new projects. The main focus of the company is on business consolidation as several of its projects are running behind the schedule and the developer is reeling from a heavy debt burden. Though some new [...] Continue Reading »
The Reserve Bank of India has brought about many new directives and guidelines for taking Home Loans. The most controversial decision was the exclusion of stamp duty, registration fees and all other allied charges while calculating the loan to value when taking a home loan. The loan to value is the loan amount taken against [...] Continue Reading »
A real estate builder in Punjab disappeared after taking crores from home buyers. The builder, named Jeewan Garg, sold apartments in their proposed Royal Empire and Royal Apartments in Zikarpur. The people who have invested in those projects, approached police complaining that they were cheated by the builder. The police are trying to find out [...] Continue Reading »
17-acre plot of DLF in Mumbai’s Lower Parel area might be sold at Rs 2900 crore. India’s biggest real estate firm DLF has planned to sale the land to reduce its debt burden. It is said by a DLF official that the Mumbai-based builder Lodha Group and American private equity fund Vornado Realty Trust had [...] Continue Reading »
The National Real Estate Development Council opposed the Land Acquisition Bill saying it should not be applicable to private builders as it will impact development of infrastructure across the country. The builders group feels that the suggestion by the Parliamentary committee will impact the infrastructure, industrial and township development program in the country. Setting tough [...] Continue Reading »
