Private equity firm IIFL Realty Fund has planned to invest in redevelopment project in Mumbai. The equity firm has made an agreement to invest Rs 80 crore in a housing society-cum-slum-redevelopment project in Sion Koliwada area. Around 1.2 million sq ft of saleable area will be developed in the project. In another PE investment Sun [...]

Shortage of sand is a major crisis which is affecting the building construction in Mangalore. The government wants that the builders should start using the silt accumulated in the Lakhya dam. According to the government, if the developers start using the silt as an alternate material for Sand, it will help the dam to increase [...]

Real Estate firm Supertech Limited has planned to raise Rs 3000 Crore from PE investors. The real estate builder has also planned to construct a 10 acres housing project in Gurgaon. The project will construct 600 apartments. And some portion of the raised amount will be invested in the project. The remaining amount will be [...]

Emaar-MGF is looking at fast completion of its existing projects in India in the current financial year rather than launching new projects. The main focus of the company is on business consolidation as several of its projects are running behind the schedule and the developer is reeling from a heavy debt burden. Though some new [...]

The Reserve Bank of India has brought about many new directives and guidelines for taking Home Loans. The most controversial decision was the exclusion of stamp duty, registration fees and all other allied charges while calculating the loan to value when taking a home loan. The loan to value is the loan amount taken against [...]

A real estate builder in Punjab disappeared after taking crores from home buyers. The builder, named Jeewan Garg, sold apartments in their proposed Royal Empire and Royal Apartments in Zikarpur. The people who have invested in those projects, approached police complaining that they were cheated by the builder. The police are trying to find out [...]

Four months before the Karnataka High court has asked to stop using the residential areas as commercial places. The implementation of the verdict became a big challenge for the authority. It is being noticed that the residential properties in Bangalore are converted to bookshops, restaurants and coffee joints. Many of these shops are operating without [...]

17-acre plot of DLF in Mumbai’s Lower Parel area might be sold at Rs 2900 crore. India’s biggest real estate firm DLF has planned to sale the land to reduce its debt burden. It is said by a DLF official that the Mumbai-based builder Lodha Group and American private equity fund Vornado Realty Trust had [...]

The National Real Estate Development Council opposed the Land Acquisition Bill saying it should not be applicable to private builders as it will impact development of infrastructure across the country. The builders group feels that the suggestion by the Parliamentary committee will impact the infrastructure, industrial and township development program in the country. Setting tough [...]

Considering the cost of the properties in India it seems that the demand for the properties in India is increasing. But the scenario is opposite to what it looks like. The costs of properties are raising and the demand has fallen in all major cities in India. The main reasons of falling demand of properties [...]

L&T’s construction division has won orders valued at Rs 2,592 crore for the construction of multi-storied residential apartments in Bangalore and Gurgaon, including additional work in ongoing projects. In the commercial segment, L&T has got orders totaling Rs 1,165 crore for the construction of mixed-use development, a hospital building and institutional buildings. The company has [...]

BBMP has planned to outsource the additional work to clear mess created by the rain. They are planning to outsource the additional resources required during monsoon, as it will be a burden for the BBMP to keep more staff throughout the year. BBMP thinks that this decision will make the cleaning process faster as the [...]

The Krishna District Building Workers Union and Center of Indian Trade Unions have launched a 48-hour hunger strike demanding the State government to take necessary steps to ease the sand scarcity. The building workers vowed to protest near Sub Collector’s office until the government heeded to their demands. The workers union is protesting against various [...]

Godrej properties is planning to acquire 14 acre land in Bangalore from Housing Development and Infrastructure Ltd. The cost of the property is estimated at Rs 100 crore. According to sources, the Godrej Property may pay up to Rs 105 crore in case if HDIL obtains all permissions for construction on the land. HDIL plans [...]

The demand for commercial real estate in Mumbai has witnessing a lower trend as the market is oversupplied by available properties. As the demand for apartments in Mumbai has reduced in last year, most of the builders in Mumbai have shifted to construction of commercial properties, which has increased the supply level. Now the developers [...]

New Town is appearing as the latest commercial hub of Kolkata. As the demand for office space is increasing by the IT industry and several expansions of secondary and tertiary industries increasing in Kolkata, New Town is coming up as the destination of the real estate projects in Kolkata. It is noticed that commercial transaction [...]

The size of Mumbai is increasing. According to 1991 development plan, the size of the city was 437.71 sq km. While at the latest city plan it is observed that the area of the city has been increased to 457.17 sq km. This increase happened due to the change in definition of the open spaces. [...]

Before applying to home loans any individual must look into his income, current expenses and track record from Credit Bureau as these are very much important for availing any home loan. According to a higher official of HSBC, buyers must opt for floating rate of interest in the current economic scenario while going for any [...]

Panchshil Realty has bought back its stake in three projects from Merrill Lynch and IREO for over Rs 720 Crore. Panchshil realty has acquired 50% stake from IREO Real Estate in two projects – EON SEZ at Kharadi and a high-end residential project at Hadapsar for R480Cr. The third buy back was done in the [...]

Prestige Group has launched its new project Prestige Summer Fields in Bangalore. The project is composed of independent villas. Prestige Summer Fields located at Sarjapura Road. The project is spread over 12 acres of lush green land. 91 twin houses and independent villas will be constructed under the project. The project will provide ample carpet [...]

Prestige construction is a well-known brand name in the market of real estate in India. So far the builder has constructed over 161 projects covering more than 45.82 million sq ft area. The group has constructed real estate properties in all segments residential, commercial, retail, hospitality. The company has been awarded with ‘Crisil DA1′ rating [...]

The shifting proposal of the Jewar international airport has left a negative impact among Greater Noida domestic and multinational companies and the real estate business. Companies that were planning to expand business in Greater Noida are now thinking about their decision. According to the Association of Greater Noida Industries, this decision is an anti-industry decision. [...]

The Uttar Pradesh Power Corporation Limited  has disconnected the power supply of nearly 12 apartments in Lucknow. According to Lucknow development authority, those apartments had not got their plans sanctioned and they are illegally constructed. These apartments are in posh residential colonies like Mahanagar and Chinhat without any kind of approval from the development authority. [...]

When several real estate developers in India have refused to abide by the code of conduct lay down by CREDAI, the builders association has expelled those developers, while some have resigned discontinuing their involvement with the organization. The builders have refused to sign the association’s code of conduct as they are not convinced by the [...]

Real estate developer Ansal Properties & Infrastructure has planned to expand its two big townships in Lucknow and Greater Noida by a total of about 4,000 acres. The builder has already applied for approval to expand its township. The company is currently developing a 3,500-acre township Sushant Golf City at Lucknow, while the Megapolis Township [...]

The capital value-based regime and contending new property tax rule of Mumbai goes to High Court for proper justice. In a petition the applicant has said to the court that the present tax hike for the properties in Mumbai is unequal and is injustice to certain property-owners in the city. Under the new tax regime, [...]

As the builders are claiming that the delays in project clearances are raising the cost of projects, the Chennai Metropolitan Development Authority has planned to introduce an automated system to scrutinize building plans. Scrutinizing building plan takes 3 to 5 days when done manually. While computers will run through the soft copy of the plans [...]

The Greater Hyderabad Municipal Corporation has planned to introduce online application and approval system for building application. With this movement the building permission approvals will just be a click away. An IT firm is providing the software where scrutinizing and approval of building plans will be provided online. Several civic bodies of Mumbai, Pune, Thane, [...]

The builders of Mumbai are witnessing rising demand for the low and mid segment housing projects in Mumbai. Hence the builders are planning to launch a new affordable housing project in and surrounding areas of Mumbai. It is also noticed that the demand for 1 BHK house is increasing than larger apartments. Earlier real estate [...]

Builders of Kochi are discouraging the use of river sand and are maximizing the use of m-sand for constructions . The builders association has directed all the construction in Kochi to be done with the help of m-sand, and they are limiting the use of river sand only for plastering. The builders took the decision [...]