Delhi NCR
New Delhi-based realty major Emaar MGF to sell its under-construction 550-flat residential complex Emaar MGF Palm Drive, one of the popular residential developments in Gurgaon neighborhood of Delhi-NCR, for Rs 1200 crore. Emaar MGF is learnt to be in an advanced stage of selling its apartment in a bulk deal for Rs 1200 crore to [...] Continue Reading »
Acquiring property in the name of the husband by his wife would be Benami no more. The government to amend the Benami Transaction (Prohibition) Act The government plans to amend the Benami Transaction (Prohibition) Act. Under the existing law, the law defines a benami transaction as a deal in which a property is transferred to [...] Continue Reading »
A bench of Chief Justice Dipak Misra and Justice Sanjiv Khanna said the government should construct the shelter home for destitute pregnant women in the city. The bench asked counsel Najmi Waziri to inform the government to construct the third shelter-home for destitute pregnant and lactating women to check child deliveries on footpaths. The bench [...] Continue Reading »
Delhi high court slammed the stakeholders — the DERC, Delhi government and private discoms — on tariff mess The Delhi high court slammed the stakeholders — the DERC, Delhi government and private discoms — for their functioning. The Delhi high court asked the Delhi Electricity Regulatory Commission (DERC) to issue a fresh tariff order. “The [...] Continue Reading »
If a tenant has paid the rent regularly according to the agreement, landlord cannot evict the tenant for at least five years. If present and prevalent market rent assessed and fixed between the parties is paid by the tenant, then the landlord shall not be entitled to take any action for his eviction against such [...] Continue Reading »
Housing demand falls by 20 per cent following a court order directing return of land to the original owners. The Allahabad High Court has denotified more than 150 hectares of land acquired for residential development by the Greater Noida Authority and directed the entire land to be returns to their owners. Following the court order, [...] Continue Reading »
The Pune Special Cell held gang of fraudulent real estate managers for cheating more than 200 people in Delhi and Pune of crores of rupees. The fraudulent real estate managers tricked people into buying land in Masharashtra towns at ‘low rates’ and fled. “With the arrest of one Arvind Kumar, a resident of Paschim Vihar, [...] Continue Reading »
The slack in demand due to slower sales and tardy implementation of infrastructure projects has slowed demand for cement used to build reinforced concrete roads, dams, bridges and houses. Leading cement manufacturers have started offering discounts of as much as Rs 10-20 per 50 kg bag in the last two months as slow sales begin [...] Continue Reading »
Sensible economics suggests that if developers can’t sell at high prices, they should cut rates and find buyers. Anecdotal evidence suggests that many builders are selling land holdings to finance loans, rather than cut prices. This too is good, because it will bring more land back into the market, creating further pressure for property prices [...] Continue Reading »
Tata Housing Development Company Ltd to invest Rs 2000 crore to build a luxury housing project in Gurgaon and also announced its plans to foray into the overseas market this fiscal. “We are launching a luxury housing project, ‘Tata Primanti’ in Gurgaon, comprising 1,100 units. The investment to develop this project will be Rs 2,000 [...] Continue Reading »
