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Office leasing dips 14% in NCR in Jul-Dec: Report

“Rental values have remained stable in most of the office markets in NCR. However, lack of good quality space has put an upward pressure on rentals in key locations such as such DLF CyberCity and Golf Course Road in Gurugram and Noida -Greater Noida Expressway and Sector 62 in Noida”

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India Ratings withdraws ratings for Panchshil Corporate Park

“Panchshil Corporate Park is constructing and developing a 14-acre mixed-use project named Business Bay across Poona Club Golf Course on Airport Road in Pune”

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ITDC hands over Hotel Janpath to housing ministry

“The government initiated the process of disinvestment of hotels/properties of the India Tourism Development Corporation (ITDC) as it feels that running and managing hotels on professional lines is not the work of the government or its entities.”

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Office rentals in Bengaluru, Pune & Gurgaon continue uptrend in Q3: Report

“All the south cities and Pune market are witnessing single digit vacancy rates. While the construction of grade A commercial properties may ease some of the pressures, we do not expect inventory pressure to reverse any time soon. Despite a strong supply pipeline in most of these cities, we expect, the rental values to increase in the short term, especially, in grade A developments”

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DMRC faces biggest challenge during Delhi metro’s Phase-III expansion

“The Pink Line, in particular, intersects existing corridors at 11 locations — DMRC reached a new milestone when the Pink Line was constructed above the Airport Express Line and the pillars rose up to 23 metres, the highest point touched till date. “The Phase-III project was much more challenging than the previous two in the context of engineering challenges,” DMRC spokesman Anuj Dayal said”

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Quest Global Chairman Ajit Prabhu buys Rs 50 crore flat in Bengaluru

“The 1-million-sqft project, previously called City View, was originally owned by Goldman Sachs (73%) and Dayanand Pai’s Century Real Estate Holdings (26%). The investment bank entered into a conditional agreement to sell it to RMZ a few years ago, but failed following opposition from its minority shareholder”

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New loans on commercial property in Britain fall 24%: Survey

“North American banks were the most concerned about the market situation, considering all aspects from property market fundamentals, Brexit and a potential interest rate rise”

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Office leasing in Q3 up 2% in 8 cities at 10.4 million sq ft: CBRE

“The consultant noted that there was increased interest from EMEA (Europe, Middle East, Africa) corporates for India and their share of office space leasing rose to 14 per cent during July-September period from 9 per cent in the previous quarter.”

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Home buyers seek Rs 15,000 crore cover from Jaypee

“The proceedings have to first consider the buyers’ interest, as they are the victims in this insolvency bargain. Buyers’ investments have to be protected, and we’ve communicated that to the amicus curiae”

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Mhada plans to build 60-storey towers in South Mumbai

“Mhada CEO Milind Mhaiskar said these new flats will disrupt the real estate market as these homes will be sold at a much lower price than what private developers charge in their high-end projects. ”

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UP govt releases fund to complete Lohia housing scheme in Bijnor

“Now, the government has released Rs 4.62 crore for the completion of these houses. Directions have been issued to complete the homes before winter arrives.”

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Portal inaccessible, Greater Mohali development body extends auction of property

“The decision is based on recommendations received from various development authorities in the state, which work under the housing department. Requests for more time have come even from the bidders scattered over Punjab and neighboring states. The department is of the view that the extension will give the prospective bidders a fair chance and increase transparency of the process”

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50% drop in housing launches in NCR this Diwali: Report

“The builders are now focused on delivery. First came demonetisation, then Rera and then GST. So everything has increased a pressure on builders. So many are either working on completing their projects or trying to work through the processes of Rera at the moment. There is no significant launches in these parts except for one or two projects”

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Uttar Pradesh housing board releases Rs 31 crore for Ghaziabad Metro

“The money is expected to boost construction work, which is already in an advanced stage. No new deadline has been fixed for the completion of the project,” secretary, GDA, Ravindra Godbole”

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Haryana yet to start its website for RERA, 2 months into new law

“I have sent multiple complaints to DTCP officials about the issues related to two projects I have invested in. However, after multiple mails, they told me that the complaints were not in the proper format and hence could not be processed”

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Noida authority reopens reschedulement policy for 2 months for builders

“In order to ensure possession, the chairman has decided to re-introduce its reschedulement policy so that the builders can pay a part of their dues and get the no dues certificate (NDC). After getting the NDC, the builder can get the occupancy certificate required to give start giving possession”

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Actress Jacqueline Fernandez goes house-hunting

“Jacqueline has been busy with work commitments for the last few months and is expected to kick off Remo D’souza’s next directorial, Race 3, with Salman Khan, by October-end. In between projects, she has been house-hunting in Bandra. She plans to ring in the New Year at her new place”

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20,000 families in Jharkhand get houses under PMAY

“Though the preparations for the event were on for a long time, the urban development department managed to complete 20,051 of 91,000 houses sanctioned under PMAY”

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Godrej Properties inks pact to develop 59-acre residential project in Pune

“The code is currently applicable to only commercial buildings. The building should be designed in such a way that the energy consumption is minimum. Discussions are going on with local self-government department to bring the buildings, for which they give permission, to adhere to the Code. We need to include the Code in the Kerala Municipal Building Rules to implement it in LSGD level”

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Kerala set to get its first ‘energy-efficient’ buildings

“The code is currently applicable to only commercial buildings. The building should be designed in such a way that the energy consumption is minimum. Discussions are going on with local self-government department to bring the buildings, for which they give permission, to adhere to the Code. We need to include the Code in the Kerala Municipal Building Rules to implement it in LSGD level”

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Pune civic body turns down waiver of property tax for small houses

“The civic administration has already been providing various benefits to small house owners. There has been exemption to the slum rehabilitation schemes. We have replied after studying all these aspects”

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Rajasthan RERA to impose 10% of project cost on builders

“Under section 3 of RERA Act, 2016 developers were provided 90 days to register after the Act came into effect on May 1 in the state. After RERA Act came into force, chief minister Vasundhara Raje launched the RERA website on June 1. It became mandatory for all the builders and real estate agents to register on the website till July 31. However, on the request of developers an extension of one month was provided (till August 31) to register with regulatory authority after depositing Rs 50 per square metre.

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Singapore: Private home prices rise in Q3 for first time in 4 years

“It’s expected because sentiments have been buoyant and prices and volumes have already picked up for both new sales and re-sales over the last couple of months. This is particularly the case in new home sales”

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Deposit forms for PMAY till October 3: Punjab govt

“Department of local government has already directed its 163 urban local bodies (ULBs) to accept applications on October 3, the working day next to October 29 as October 30, October 1, and October 2 were holidays on account of Saturday, Sunday and Gandhi Jayanti”

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Godrej properties adds a new residential project in Bangalore

“With the commissioning of Real Estate Regulation Authority (RERA) and implementation of Goods and Services Tax (GST), there is a feeling of confidence in the market. Land prices are at an all-time low thanks to a steady slowdown in the industry in the last few years. Therefore, now is a good time to invest in real estate”

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Interest on refunds from builders adds to tax burden for homebuyers

“Increasingly, the Supreme Court and several high courts have come to the rescue of investors who have booked flats in projects that were delayed for years, with no sign of completion in sight. Additionally, several errant builders, prior to coming into force of The Real Estate Regulatory Authority Act (RERA), have refunded the down payments plus interest to the buyers”

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Steady growth in real estate sector likely: Builders’ body

“With the commissioning of Real Estate Regulation Authority (RERA) and implementation of Goods and Services Tax (GST), there is a feeling of confidence in the market. Land prices are at an all-time low thanks to a steady slowdown in the industry in the last few years. Therefore, now is a good time to invest in real estate”

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Gr Noida authority to set up recovery cell to collect its outstanding dues from defaulting allottees

“As per the notice, we have warned allottees that default in allotment amount and three consecutive instalments will lead to cancellation of allotment of plot/flat,” said B.K Tripathi, Additional CEO (ACEO), GNIDA. “Compound interest on the defaulted amount shall be levied quarterly as per the norms as indicated in the brochure or lease deed. No interest will be waived off for defaulters”

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L&T Finance puts Rs 150 crore in Pune housing projects

“An email query to L&T Finance Holdings remained unanswered until the time of going to press. Saarthi Group could not be reached for a comment, while transaction advisor Elysium Capital Advisory declined to comment”

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Oshiwara home buyers settle row with Windsor Realty, to get keys

“Lawyers on both sides, including Vikram Kamath and Gautam Bhatekar for 40-odd flat purchasers who had not given up claims, and senior counsel Dinyar Madon for the developer, told Justice K R Shriram on Monday that settlement talks, a suggestion by the court last month, resulted in all buyers getting possession in a time-bound manner with claims on either side, being kept alive for some. Close to 20 buyers had signed a no-claims letter and taken possession earlier”

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JP Associates gets shareholders’ nod to raise up to Rs 2,000 crore

“Jaiparaksh Associates is a diversified infrastructure company and is engaged in segments as engineering, construction and real estate development, manufacture and marketing of cement, hospitality and sports management”

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Gartner leases 300,000 sq ft of office space in DLF Cyper Park

“Even though the residential sector is struggling in the National Capital Region (NCR), the commercial market has been performing well in the last few years. Among NCR, most of the office take-up has been in Gurugram”

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Home buyers of Noida’s IRIDIA project meet DM over land acquisition dispute

“We have asked the district magistrate to help us resolve the matter. In a memorandum sent to chief minister Yogi Adityanath, we have demanded possession of the project post completion or return of investment with interest”

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Union govt’s PPP policy to boost affordable housing

“Confederation of Real Estate Developers’ Associations of India (Credai) has been making this demand for a long. In April, we had made a presentation before the Prime Minister’s Office and insisted that if the government wanted to achieve its target, PPP models must be promoted,” said Maharashtra Credai president Shantilal Kataria, adding that the new policy would facilitate construction of affordable houses in the city”

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39 flat buyers get keys in building built under Bombay HC lens

“Dadarkar was present at a similar key-handing ceremony then but this time, three of the court-appointed panel Ajay Dedhia, D M Prabhudesai and Darshan Jhala did the honours, as they had completed construction. The court had constituted the committee last November with a representative each from the builder, flat buyers and society . The two wings only had a skeletal structure up to 17 floors at the time. Dedhia, a local builder, represented by advocate Viraj Maniar, stepped in to help and was appointed by the high court, as were Prabhudesai, a flat buyer, and Jhala an original society member”

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Dwarka Expressway: Home buyers at NHAI door for faster completion

“The six-lane elevated highway sounds like an ambitious plan to ease traffic and pollution level, but still there is no concrete plan from the government side for the timely completion of Dwarka expressway”

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Benami property secret informers to get reward of Rs 1 crore

“According to the official, the information will have to be acute and identity of the informer will be kept secret. The department will never disclose the identity as this could endanger the informer. The Benami Property Law introduced last year lacked this provision. It is a common practice by the Enforcement Directorate, the Income Tax department and Directorate of Revenue Intelligence to reward informers. The reward, however, is not so lucrative”

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Greater Noida nod to 10% initial payment for housing land

“Our decision has been taken in order to help buyers,” said Debashish Panda, CEO, GNIDA. “This will ensure that only serious builders come forward to develop group societies”

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Noida vows 10,700 flats by December after Greater Noida’s 17,000

“Officials further said that nine projects of builders including Gardenia AIMS Developers, Colourful Estate, Divine India, Perfect Prop Builders, Sunshine Infrawell, IV County, Supertech and Ajnara India have promised to hand over another 5,000 residential units by December 2017 once they obtain completion certificates”

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NTR housing scheme has gained momentum: Andhra Pradesh Chief Minister

“He further said that the Prakasam and the Kurnool districts are ahead of the schedule in the urban housing scheme, whereas the construction of houses in the Nellore and the Guntur districts are in full swing, under the rural housing scheme”

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