Realty News
Market regulator SEBI on June 23 had directed two Sahara group companies — Sahara India Real Estate Corp (SIRECL) and Sahara Housing Investment Corp (SHICL) — to refund the money raised from investors through optionally fully convertible debentures (OFCDs) with an annual interest of 15 per cent from the date of receipt of money. Sahara [...] Continue Reading »
Mumbai builders take Mhada for a 228 crore ride. Under Mhada rules, builders have to surrender part of the built-up area of redeveloped properties. For the past 20 years, builders have not given up surplus area. Source said that some Mhada officials are believed to be part of this nexus with the builders. On Thursday, [...] Continue Reading »
The Thane civic body has launched an online portal to clear building proposals. Director or other equivalent officer will scrutinise the proposal online and approve it. As Thane is small city and no major developments like Mumbai, online approval will work effectively for Thane. It will also help to streamline the realty sector and bring [...] Continue Reading »
The Bruhat Bangalore Mahanagara Palike (BBMP) has plans of filing a defamation suit against the Confederation of Real Estate Developers’ Associations of India (CREDAI), which levelled allegations that bribes are being demanded by corporators. “CREDAI Bangalore members have made serious allegations against corporators, ministers and MLAs, stating that they have been blackmailed and that hafta [...] Continue Reading »
The delay of Porur flyover made life difficult for motorists travelling on Mount Poonamallee Road and Arcot Road. The delay in the land acquisition process has delayed the project to construct a flyover at the busy Porur junction. The Rs.34.72-crore flyover would benefit motorists travelling on Mount Poonamallee Road and Arcot Road and expected to [...] Continue Reading »
Property dealers and research firms say investors are not keen to buy assets now, while those who do, are looking for suitable exits. “Unofficially, the prices have already corrected. Some investors and developers have already exited at lower prices,” said an industry source. Research heads from a couple of real estate research firms said the [...] Continue Reading »
July 30 Deadline to Install RWH Concerned over the depleting groundwater table, BBMP commissioner Siddaiah has appealed to property owners who own more than an acre of prime space in the city to establish rainwater harvesting (RWH) pits before July 30. On June 10, Siddaiah had written to government of India and government of Karnataka [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) as many as half-a-dozen of errant builders have been served stop-work notices over the past week as a part of BMC’s anti-malaria drive. The notices were issued by the building proposal department of the BMC. The department officials said the developers could have to cough up a penalty of up [...] Continue Reading »
BBMP Bangalore will propose that Serviced apartments in Bangalore be considered as hotels. Till now Service apartments in Bangalore are paying taxes like any residential property. If the proposal comes through, the 200-odd serviced apartments in the city may have to cough up more tax. Most service apartments in Bangalore are located in Koramangala, Jayanagar, [...] Continue Reading »
After Mantri Developers which recently witnessed widening woes on Sampige Road, now the turn of Bannerghatta Road. BBMP Bangalore aims to make it 45 metres to ease the traffic congestion. This is one of the roads notified in the Revised Master Plan 2015 to be made a 45 metre-wide road. The Mantri Developers will have [...] Continue Reading »
