March 2024

Planning to buy a property via a bank auction? Here are 7 things you must know

Planning to buy a property via a bank auction? Here are 7 things you must know

Several banks auction real estate properties in a final attempt to recover their dues after borrowers fail to repay their loans and the banks are forced to initiate recovery proceedings against them. Recently, an international bank had issued a public notice that said it plans to auction a bungalow in Mumbai located next to Amitabh Bachchan’s property named Jalsa. The reserve price for the prime...

Banks to ensure builders comply with RERA norms when handling public money

Banks to ensure builders comply with RERA norms when handling public money

Gurugram: Following a recommendation from the Haryana Real Estate Regulatory Authority (HRERA), Gurugram, the department of financial services (DFS) under the Union finance ministry has asked all public sector banks to ensure that real estate developers comply with public norms related to withdrawal of funds from the escrow accounts, meant for construction of buildings. HRERA Gurugram...

Mahindra Lifespaces acquires 9.4 acres land parcel in Whitefield, Bengaluru

Mahindra Lifespaces acquires 9.4 acres land parcel in Whitefield, Bengaluru

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced the acquisition of 9.4 acres of land in Whitefield, Bengaluru, the company said.  Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced the acquisition of 9.4 acres of land in Whitefield,...

Fractional ownership market expected to surpass  bn by 2030

Fractional ownership market expected to surpass $5 bn by 2030

The Indian fractional ownership market is currently estimated at around $500 million and is expected to grow 10 times in the next five years to surpass $5 billion of Asset Under Management (AUM) by 2030, according to an analysis by JLL and Propshare. The Indian fractional ownership market is currently estimated at around $500 million and is expected to grow 10 times in the next five years to...

Property elite head to Cannes without much to celebrate

Property elite head to Cannes without much to celebrate

(Bloomberg) -- As real estate’s great and good gather in Cannes for Europe’s biggest annual property event, there are a growing number of notable absences. New faces will be representing some of the big names – now troubled names – from the world of real estate at the annual Mipim conference that starts Tuesday in Cannes. (Picture for representational purposes only)(Pixabay) The end...

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