Bangalore
Builders in collusion with the officials have encroached upon vast extent of lake land to construct apartment complexes and form layouts. Their modus operandi is simple: Dump debris to fill the lake. Once a portion is levelled off, usurp it by creating fictitious documents. The defiant act doesn’t end there. A survey of 842 lakes [...] Continue Reading »
Fearing land sharks, Bangalore citizens want their properties protected. But in their rush to do that, they often fall prey to conmen, adept at fabricating documents, falsifying survey numbers and every other trick in the real estate trade. The issue of khatha is a major problem, particularly for the residents of the new BBMP areas. [...] Continue Reading »
International Finance Corporation (IFC) is strengthening its affordable housing team in India. Senior investment and property development managers and green specialist from its global office are expected to join the Indian arm by August. The low-cost housing initiative is currently headed by Subrata Dutta Gupta who was earlier involved in IFC’s housing finance business. It [...] Continue Reading »
HC: Not to discriminate while demolishing the encroachments/unauthorized constructions. The Karnataka high court on Tuesday asked BBMP Bangalore not to discriminate while demolishing the encroachments/unauthorized constructions. It further observed that no notice is necessary in clearing/removing such encroachments. The bench directed BBMP to furnish through an affidavit by August 4 the complete list of encroachments/unauthorized [...] Continue Reading »
Three gulmohar trees and one parkia tree faced the axe in the past four days. Many trees will face the same fate in the next few days. While Residents of Malleswaram oppose tree-felling on Sankey Tank Bund Road, residents of Rajajinagar are happy to see trees in their area cut. All because their roots are [...] Continue Reading »
Builders are tapping domestic PEs and NBFC to raise cash as banks turn wary of financing construction projects. Under a receivable financing deal, which is generally for 12-18 months, money generated through installments paid by home buyers is put in an escrow account by the builder and used only for repayment to the lender and [...] Continue Reading »
The farmers accused Karnataka Industrial Areas Development Board (KIADB) of handing over the excess land through an absolute sale deed, instead of dropping the acquisition, thus depriving them of their homes. Over 100 farmers had been protesting for the past three days. On Saturday, two farmers fell unconscious. The farmers allege that that NICE, which [...] Continue Reading »
PropEquity, an online data and analytics search platform, has conducted an extensive study of the construction delays in real estate projects and the impact on the industry. Data points covering over 10,000 projects being executed by over 1,500 developers across 11 cities in prime residential locations have been studied to arrive at the trends contained [...] Continue Reading »
According to a research report by Crisil Research, large builders like DLF, Unitech, Parsvnath, Omaxe, Ansals and Emaar MGF have already diversified into smaller cities of the country. The cities like Bhopal, Bhubaneswar, Coimbatore, Indore, Jaipur, Lucknow, Nagpur, Surat, Vadodara and Visakhapatnam are expected to add 354 million sq ft of residential development in the [...] Continue Reading »
Industrial waste which was earlier getting illegally dumped directly into the outflow tank of the plant at the exit gate has been stopped and security personnel man both entrances and exit gates and have barricaded the outflow area. After the incident of assault on chief conservator of forest U V Singh on February 20, BWSSB [...] Continue Reading »
