March 2024

Luxury homes priced above ₹50 crore and above witness a 1.5X y-o-y increase

Luxury homes priced above ₹50 crore and above witness a 1.5X y-o-y increase

Luxury homes priced ₹50 crore and above have seen a surge in sales value from ₹2,859 crore in 2022 to ₹4,319 crore in 2023, an increase by almost 1.5X. Mumbai witnessed the maximum number of transactions on the back of demand for luxury properties, an analysis by JLL has said. Luxury homes priced ₹50 crore and above have seen a surge in sales value from ₹2,859 crore in 2022 to...

State-owned corporations have pre-emptive redevelopment rights, like any other landowner: HC | Mumbai news

State-owned corporations have pre-emptive redevelopment rights, like any other landowner: HC | Mumbai news

MUMBAI: The Bombay High Court ruled that a state-owned corporation, like any private landowner, has the pre-emptive right to redevelop an area under its ownership that has been declared a slum. Subsequently, the court invalidated a letter of intent issued in favour of a private developer, emphasising the corporation’s preemptive rights. The Bombay high court said the primary focus of elected...

RERA update: Uttar Pradesh real estate regulatory authority passes 5 orders to safeguard homebuyers’ interests

RERA update: Uttar Pradesh real estate regulatory authority passes 5 orders to safeguard homebuyers’ interests

The Uttar Pradesh Real Estate Regulatory Authority has passed several orders over the last few weeks to protect the interest of homebuyers. It has directed real estate developers to sell housing units only on the basis of carpet area and has also asked them to register their projects with the same name as recorded in the sanctioned map. Another order is to do with inclusion of names of co-allottees in...

Real estate investors turn to lawyers after ‘huge’ CO2 shock

Real estate investors turn to lawyers after ‘huge’ CO2 shock

(Bloomberg) -- Real estate investors already battered by high interest rates now face the prospect of significant write downs triggered by new European regulations. Real estate investors already battered by high interest rates now face the prospect of significant write downs triggered by new European regulations. (Picture for representational purposes only)(Pexels) Property owners across the...

MCD to raze its staff flats on Delhi’s Minto Road, replace them with high rises | Latest News Delhi

MCD to raze its staff flats on Delhi’s Minto Road, replace them with high rises | Latest News Delhi

The Municipal Corporation of Delhi (MCD) plans to raze the existing single-storey flats for the civic body’s officials at Minto Road in central Delhi and redevelop them as high rises, officials aware of the matter have said. MCD flats on Minto Road in New Delhi on March 13. (Arvind Yadav/HT Photo) The site currently has 41 flats, ranging from Type-2 to Type-5, that were built in the 1940s....

HRERA takes action against 20 developers for violating norms

HRERA takes action against 20 developers for violating norms

The Gurugram bench of the Haryana Real Estate Regulatory Authority (HRERA) has taken action against 20 developers for violating norms and seized an amount of ₹7 crore, which they had deposited as security. HRERA Gurugram said that the developers had been granted conditional registration and asked to comply with norms but they did not meet these and action was taken. The Gurugram bench of the...

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