Ownership
After the rolling out of chief housing schemes under which around 26,000 flats will be made on offer, the Delhi Development Authority has proposed to approve the ownerships of the flats only after the flat has been in possession of the owner for five years. This initiative is going to be taken to do away [...] Continue Reading »
Mumbai – Residents staying on private forest land have denied to shell out extra money to the government to regularize their flats. After hearing a forest land appeal last week, the Supreme Court Chief Justice asked the court registry to hire a three-judge bench to hear the matter but the appointment is pending for 18 months. Over [...] Continue Reading »
In 2008, conveyance deed was first introduced in the real estate market to protect the interest of home buyers. But this year, hardly 1,200 housing societies have applied for conveyance certificate out of 88,000 and only 700 of them got the deed. The Chief Minister Prithviraj Chavan in a recent meeting said that a statewide drive will [...] Continue Reading »
Blackstone Group, US-based private equity major, is set to acquire 36% ownership in the tenanted office space group of Embassy Property Developments, for about $230 million (Rs 1,300 crore). The deal is expected to be Blackstone’s biggest real estate deal in India, giving it part ownership of more than 12 million sq. ft. The Blackstone [...] Continue Reading »
Realty builders of Bangalore are unauthorised to sell parking spaces, but still they collect money and provide ownership of the space to their tenants. Taking advantage of the ignorance of their tenants almost all the builders in the city have made it a practice to sell parking spaces in apartment complexes, gated communities and so [...] Continue Reading »
The Bruhat Bengaluru Mahanagara Palike (BBMP) has planned to install a biometric system in order to make flawless issue of permanent khatas (property ownership documents) and to eliminate corruption in property transactions, including doctoring of khatas. This move will safeguard the genuine property owners’ interests. The fingerprints will be matched in order to authenticate the ownership. [...] Continue Reading »
The Mayfield Gardens residents are themselves in a huge confusion in concern with the ownership of their properties. The residents are completely clueless after they got to know about the department of town and country planning (DTCP) announced to takeover the township from builder. Also, the DTCP announced that the property owners who are paying [...] Continue Reading »
The rate of slums in India are more than countable. Even though slums are emerging from two or three decades, it comes as a surprising news that only less than 1000 families claim ownership. Even today Dharavi in Mumbai, once Asia’s largest slum till date has more than 59,000 tenements in it and hardly 20 [...] Continue Reading »
Land worth crores belonging to Nainwal gram panchayat measuring across 165 acres has been restored by Gurgaon district administration. This panchayat land was repeatedly converted into Shamlat Deh (village common land) only to benefit the private shareholders without seeking relevant court orders. Sub-divisional magistrate (SDM) of Gurgaon was also held in this similar land case [...] Continue Reading »
