Today’s Top Real Estate Stories

  • Indiabulls Housing raises Rs 630 crore by selling another stake in OakNorth
    This is the second such transaction in less than a month. Earlier this month, the housing finance firm offloaded its part stake in OakNorth Holding for Rs 440 crore earlier this month. Read more »
  • Brookfield REIT plans $600 million IPO
    The Canadian asset manager is filing the Draft Red Herring Prospectus (DRHP), making it the third REIT to be listed in the country after Embassy Office Parks and Mindspace, they added. Read more »
  • Hong Kong's TEC leases one lakh sq ft office space in Mumbai, Bengaluru
    TEC entered India in 2008 with its first property in Mumbai.At present, it has around 30 centres in India spread over 8 lakh sq ft with a capacity of 8,000 desks, across major cities. Read more »
  • Investors exit as land prices soar in Hyderabad's IT corridor
    The city’s IT corridor is now the most expensive in south India, beating Bengaluru and Chennai – the two other IT destinations – courtesy escalating land prices. Read more »
  • Telangana to soon regularise unregistered notary properties in Hyderabad
    In a meeting held at GHMC head office, the minister said that there are 24.5 lakh properties in the city. Out of these, only 16.5 lakh properties have been assessed. Read more »
  • Rent paid by developer to flat owners not free money: Tamil Nadu REAT
    ​​The tribunal also underscored that rent paid by the developer to the owners, for accommodation during the construction period, was ‘not free money’. Read more »
  • Maharashtra: GR that stalled cessed buildings' redevelopment set to be axed
    On September 8, Housing Minister Jitendra Awhad had announced in the state legislative assembly that the GR stood cancelled but Mhada officials said that they had not received anything in writing. Read more »
  • WeWork sells control of China unit to Trustbridge Partners
    WeWork said it will maintain a minority stake and "participating interest." Concurrent with the deal, the division has received $200 million in funding from existing investors. Read more »
  • Land owners can't be punished in joint ventures: Tamil Nadu RERA
    The state’s realty regulator underscored that the ‘promoter’ is alone liable for action against whom homebuyers can proceed for violation of RERA Act. Read more »
  • HDIL's Sarang Wadhawan now held for Rs 131 crore housing fraud
    The Wadhwans were arrested last year for their alleged roles in the Rs 4,700-crore Punjab and Maharashtra Cooperative (PMC) Bank loan fraud case. They are currently in jail. Read more »

Latest Real Estate News from India

  • Hyderabad: Govt. to spend Rs 50,000 crore on infra upgrades
    Telangana government has plans to infuse a sum of Rs 50,000 crore to uplift the infra status in Hyderabad in the next five years. KT Rama Rao, Minister for Urban Development and Municipal Affairs (MA&UD) has shared that the fund would be utilised for the development of the Hyderabad Urban… Read more »
  • Nagpur civic body to levy triple tax on buildings without OC
    The Nagpur Municipal Corporation (NMC) has proposed a penalty of threefold property tax on residential structures lacking the Occupancy Certificate (OC). As the Nagpur Municipal Corporation (NMC) plans to levy threefold property tax on residential structures lacking the Occupancy Certificates (OCs), it may affect as many as 90 percent of the buildings… Read more »
  • Mumbai: Authority commences work on a new underground metro corridor
    The Mumbai Metropolitan Region Development Authority (MMRDA) has begun the construction of 3.1 km-long new Metro Line 7A. The proposed metro corridor would comprise two stations and would connect Line 7 with the Chhatrapati Shivaji International Airport. The Mumbai Metropolitan Region Development Authority (MMRDA) has commenced the development of the Metro… Read more »
  • PMAY progress report: Centre approves 93 percent of total housing units
    The Central Government has approved around 93 percent of the total planned housing units under the Pradhan Mantri Awas Yojana-Urban (PMAY-U). By far, as many as 1.03 crore housing units have been sanctioned across the country under the said scheme. To provide affordable pucca houses to the homeless population of… Read more »
  • Ahmedabad: Over 4.6 lakh properties registered in last two years
    Ahmedabad witnessed registration of over 4.6 lakh property and land deals between February 2018 and February 2020. While the number of listings in 2018 was 2.31 lakh, it increased by 0.34 percent, i.e. 2.33 lakh in 2019. Despite the overall slowdown in the real estate market, Ahmedabad observed as many… Read more »
  • Environment Ministry proposes new norms for clearance of realty projects
    The Ministry of Environment, Forest and Climate Change (MoEFCC) has drafted the Environment Impact Assessment (EIA) notification 2020 to curb the construction violations across the country. The new draft would replace the EIA notification 2006. The Ministry of Environment, Forest and Climate change (MoEFCC) has proposed a new set of… Read more »
  • Hyderabad: GHMC to table new reform to add 50 more wards
    The Greater Hyderabad Municipal Corporation (GHMC) has decided to increase the number of municipal wards in Hyderabad through delimitation process. An Act in this regard is expected to be passed soon. Amid the preparations to roll out a new reform, the Greater Hyderabad civic body, GHMC has plans to add 50… Read more »