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PE firms help investee realtors finish work

Both developers and institutional investors were hoping for a recovery in housing sales this summer, but the virus outbreak and ensuing lockdown have raised new barriers. With the slowdown hitting the economy hard, these PE firms have now stepped up interaction with investee developers to help them deal with cash crunch and stalled construction activity.

UP-RERA gives six months extension to projects

All registered projects for which the completion date expires on or after 25th March, 2020, the registration and completion date is automatically extended by six months due to outbreak of COVID-19 pandemic. The authority also decided that the time limit for various compliances is extended up to June 30 without any payment of late fee.

Upgradation of industrial infra to help attract investors, says experts

Last week, Finance Minister Nirmala Sitharaman announced that a scheme will be implemented in states for industrial cluster upgradation of common infrastructure facilities and connectivity.

'Sales of under-construction flats dip 16% in FY20 in 9 cities; demand of completed units up 19%'

US-based News Corp-backed housing brokerage firm, in its report Real Insight Q4'2020, also highlighted that the share of completed apartments in the total housing sales grew to 20 per cent during the last fiscal from 15 per cent in the previous financial year.

Developers demand restructuring of loans, waiver of stamp duty

“We have raised the matter on several platforms but nothing concrete has happened. Developers do not have the money to pay salaries if liquidity issue is not resolved. We are not getting loans since restructuring has not been done. After restructuring, the EMI should start a year later, since we are not going to get any money from sale,” said RK Arora.

Construction work restarts at over 100 projects in NCR

Construction groups have received permission to restart work in the National Capital Region, after getting permission from local authorities and fulfilling government mandated conditions.​​ The companies have imposed a ban on gutka, pan masala, pan and any form of tobacco at their sites to maintain hygiene.

Developers in NCR to resume construction work

However, developers fear that despite easing on construction ban, it will be difficult to convince workers to stay if they have the option of going back. They also say that projects may take some more time to effectively take off till sufficient workforce could be brought in.

Projects worth Rs 100 crore or more to be under CCTV monitoring

The Centre is likely to initiate construction activities in ‘green’ and ‘orange’ districts—areas where there have been no Covid-19 cases for 14-28 days—in a staggered manner in June.

Realty Associations should form own NBFCs to support business, says Nitin Gadkari

According to him, central and state government is planning to buy housing quarters for employees at large scale and if associations come forward with some plans that can be proposed to the government, it will certainly help the developer in liquidity and generate the economy.

Back at work: Sections of stranded labourers returned to work in infrastructure projects

Interstate movement of citizens has been barred and some states have enforced stringent measures even on interdistrict travel — for example, from a contaminated red zone to a virus-free green district and vice-versa. This is prompting local administrations to either transport labourers to work sites or instruct contractors to employ only those who are stationed near the sites.

NCLAT gives conditional go-ahead to NBCC for Jaypee Infratech

NCLAT gives conditional go-ahead to NBCC for Jaypee Infratech

The appellate tribunal also directed Jaypee Infratech's Interim Resolution Professional (IRP) Anuj Jain to constitute an interim monitoring committee, comprising representatives of the NBCC and its three main lenders IDBI Bank, IIFCL and LIC.

L&T's construction arm wins 'significant' contracts for Buildings & Factories Business

L&T's construction arm wins 'significant' contracts for Buildings & Factories Business

The business has also secured an order to construct a Technology Park in Trivandrum over a total built up area of 2.3 million square feet.

Reliance Infrastructure resumes toll operations at its road projects

Reliance Infrastructure resumes toll operations at its road projects

As part of the government's initiative to restart operations in a phased manner, RInfra has resumed toll operations at its road projects from midnight of April 20, the company said in a statement.

Private contractors told to ensure labour hygiene

Private contractors told to ensure labour hygiene

As some sectors of the country go back to work to Monday as part of an easing of the nationwide lockdown to arrest the spread of Covid-19 outbreak, implementation on ground, from social distancing to behavioural changes in labourers, remains a concern.

Fresh exemptions for lockdown period, construction allowed in rural areas

Fresh exemptions for lockdown period, construction allowed in rural areas

The lockdown was first announced by Prime Minister Narendra Modi on March 24 in a bid to combat the Coronavirus endemic. It was further extended till May 3. On Wednesday, the Home Ministry had announced a series of exemptions given to different people and services during the lockdown.

Construction work on govt projects to resume from Apr 15: Uttar Pradesh Deputy CM

Construction work on govt projects to resume from Apr 15: Uttar Pradesh Deputy CM

While speaking to ANI amid coronavirus pandemic on April 13, the Deputy Chief Minister of Uttar Pradesh, Keshav Prasad Maurya said, “Construction on government projects will resume from April 15 in Uttar Pradesh while maintaining norms of social distancing by workers.”

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