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Monthly Archives: April 2019

Indian real estate offers 294 million sq ft office ass...

India has already seen its first REIT listing from Embassy Group-Blackstone joint venture last month. With a portfolio of 32.6 million sq ft, the listing is also Asia’s largest in area terms of area. MUMBAI | BENGALURU: Indian commercial real estate market is likely to provide 294 million sq ft of space that can be listed under Real Estate Investment Trusts (REITs) valued at $35 billion from the …

ABIL sells Pune land to Pristine for Rs 150 crore

Following the said land acquisition, Pristine Properties has brought in another realty developer Amar Builders through a development management agreement (DMA) to execute a commercial project on the plot. MUMBAI: ABIL Group (Avinash Bhosale Group) has sold a 5-acre land parcel in Pune’s plush Koregaon Park locality to another Pune-based realtor Pristine Properties for about Rs 150 crore. Following the said land acquisition, Pristine Properties has brought in another realty …

Floor-wise registry after polls: Noida

Since Noida Building Regulation 2010 does not provide division of plots, the matter needs amendment from the UP government. NOIDA: The Noida Authority is planning to take up the matter of floor-wise registry after the state polls are over. Since Noida Building Regulation 2010 does not provide division of plots, the matter needs amendment from the UP government. “The matter is currently with the planning department …

Homeowners in India roll up sleeves to complete unfini...

Few things illustrate the malaise in India’s property market as starkly as would-be homeowners having to dedicate untold hours to completing the flats they spent years saving up for. BY: Dhwani Pandya and Pooja Thakur Lalit Vazirani, a computer programmer from Mumbai, never reckoned on having to turn amateur property developer. Yet here he is, a decade after putting down a deposit for an apartment …

Developers can’t use buyers’ funds to repay loans, say...

HRera’s Gurgaon chief KK Khandelwal said it is probably the first-of-its-kind decision since the regulatory authority is constituted, in which it has asked the police to initiate action against the financers of the realty project. GURUGRAM | NOIDA: Developers should not repay loans taken from banks and financial institutions by using 70% of the total amount collected from buyers and allottees of a project in …

Co-working firm EFC leases 400 seats to Tech Mahindra,...

“Baker Hughes, a GE company has also leased 170 seats with us while Highbar Technocrat, an associate company of Highbar Technologies (an HCC Group Company) has taken-up 150 seats,” said Sahhaaii. NEW DELHI: Entrepreneur Facilitation Centre (EFC), a Pune-based co-working firm, has leased 20,000 sq ft space to Tech Mahindra in Mumbai, informed Umeash Sahhaaii, CEO of the company. “Tech Mahindra has taken 400 seats with us in Mumbai,” …

DDA plans rural reach as land pooling fails to take of...

DDA is now planning to aggressively reach out to landowners in Delhi’s rural belts and inform them about the benefits of the land pooling policy through pamphlets and a promotional video, which will be shown across villages. NEW DELHI: In February this year, the web-enabled, single-window portal for inviting registrations for participation in Delhi Development Authority’s ambitious land-pooling policy was launched. Since then, the portal …

Ansals API’s under lens for fund diversion

Project Audit UP realty regulator slaps de-registration on Luckow projects over potential Rs 600-crore scam New Delhi: The Uttar Pradesh Real Estate Regulatory Authority (RERA) may conduct a deeper audit on developer Ansal API’s projects after a preliminary exercise by consultant Currie & Brown found potential diversion of Rs 600 crore from the Lucknow township project, chairman of the watchdog, Rajive Kumar, told ET. “We have issued …

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