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| 24 January, 2021, 07:11 AM IST | E-Paper
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    Property / C'struction

    UP RERA imposes Rs 2.5 crore penalty on 11 developers who failed to comply with past orders

    “The authority as per RERA Acts and rules will continue to take actions and impose heavy penalties against the errant promoters so that the promoters start complying with the orders and homebuyers can get the possession of their dream houses,” Rajive Kumar, Chairman, UP RERA said.

    Mahindra Lifespace Developers sees Rs 195 crore in sales during Q3, up 70% sequentially

    The real estate and infrastructure development business of the Mahindra Group has collected Rs 297 crore in residential business, recording a sequential growth of 122%, the company said in a regulatory filing.

    Association of senior living to come with standards and accreditation matrix for senior care

    The certificate, which will be issued after validation and assessing of various criteria and quality standards, will carry the endorsement of ASLI, SWII and The Commonwealth Association for Ageing.

    Allahabad High Court dismissed petition by developer against order of UP RERA

    The Real Estate Regulatory Authority (RERA) of Uttar Pradesh) had passed an order asking the realtor to refund amount paid by the homebuyer along with the interest as it could not give the possession of the booked flat.

    Emaar India’s CEO Ajay Munot resigns; Hadi Badri takes charge

    Emaar India will be managed by Hadi Badri, who heads Emaar’s international business, until further notice, the company said.

    Migsun forms JV to develop 103 acre township in Gr Noida; to invest Rs 250 cr on 1st phase

    "We have entered into a joint development agreement (JDA) with Royal Golf Link City Projects Pvt Ltd to develop this 103 acre township," Migsun group Managing Director Yash Miglani said.

    Emaar accuses former partner MGF, Shravan Gupta of fraudulent transfer of land parcels

    The public notice elaborates that Emaar has approached National Company Law Tribunal (NCLT) alleging illegal conduct by Shravan Gupta and MGF Group, causing losses of properties and funds to Emaar India, previously Emaar MGF Land.

    Migsun to invest Rs 250 crore in Greater Noida project

    “We have acquired two land parcels of 7 acre and 2 acre and have entered into a revenue share agreement with the land owner. We have already sold inventory worth Rs 421 crore and are in talks to acquire more land in the same township,” said Yash Miglani, MD, Migsun group.

    Indian commercial real estate witness strong appetite from global investors, says Knight Frank

    The share of office and warehousing PE investments have jumped remarkably over the last decade from 24% in 2011 to 62% in 2020 and 6% to 24% during the same period respectively.

    Indian real estate attracted $5 billion institutional investments in 2020: Report

    Office projects, Q4 deals drive investments to nearly 93% of 2019 performance.

    Average apartment size increases for the first time since 2016: Report

    Average apartment size increases for the first time since 2016: Report

    Past 4-year trends, however, indicate that average apartment sizes were reducing y-o-y since 2016. 2017 saw the maximum yearly decline of 13% in average apartment sizes in the top 7 cities against the preceding year – from 1,440 sq ft in 2016 to nearly 1,260 sq ft in 2017.

    DDA amends Master Plan to increase FAR, ground coverage for warehousing

    DDA amends Master Plan to increase FAR, ground coverage for warehousing

    While there has been demand for warehousing space in NCR, most of the activity is limited to Gurgaon because of favourable policy and easy land availability.

    CREDAI urges UP government to reduce stamp duty on property registration

    CREDAI urges UP government to reduce stamp duty on property registration

    The members of CREDAI Western UP apprised the minister that the state government had revised registration fee of property in the state from February 2019, making it 1% of property cost, which was earlier only Rs 20,000.

    Small, Mid-size offices resilience to be tested in 2021 as Rs 6,800 cr lease renewals due

    Small, Mid-size offices resilience to be tested in 2021 as Rs 6,800 cr lease renewals due

    The expected pattern of lease renewals and expiries in smaller size offices this year is likely to result in occupiers and tenants considering more flexible and co-working spaces.

    Investment in residential properties to increase in UP after the tenancy ordinance

    Investment in residential properties to increase in UP after the tenancy ordinance

    On January 8, the UP government promulgated a tenancy ordinance to reduce the dispute between tenants and landlord. The Uttar Pradesh Regulation of Urban Premises Tenancy Ordinance, 2021, will make rent agreement mandatory for any property to be given on rent now.

    NCLT agrees to hear plea alleging mismanagement in Omaxe

    NCLT agrees to hear plea alleging mismanagement in Omaxe

    Terming the matter as "exceptional" and having "compelling circumstances" against the realty firm, a two-member Chandigarh-based NCLT bench has granted the waiver in the filing criteria under Section 244 of the Companies Act, over the plea filed by the Omaxe former joint managing director Sunil Goel and his wife.

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