May 2024

Mumbai: The real estate market is reeling from a sharp spike in Slum TDR rates, which is impacting their profit margins and sending construction timelines of ongoing projects for a toss. According to industry executives, the TDR in Mulund has shot up from ₹3,500 per sq ft six months ago to ₹6,000 currently. In Borivali, the rate has increased from ₹3,000 per sq ft to ₹5,700 in the last six...

Real estate major DLF plans to launch new real estate projects spanning approximately 11.6 mn sq ft with a sales potential of almost ₹36,000 crore this fiscal. The key launches planned for the year are expected to be in Gurugram, Goa and Mumbai, Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd, told Hindustan Times Digital on May 15. Real estate major...

Mumbai: In a bid to ensure homebuyers get better quality homes, the Maharashtra Real Estate Agency (MahaRERA), has floated a draft regulation where developers will now have to provide self-certification declaration for real estate project quality assurance and provide detailed information on the project’s technical aspect. Maharashtra Real Estate Agency (MahaRERA) has floated a draft...

(Bloomberg) -- China is considering a proposal to have local governments across the country buy millions of unsold homes, people familiar with the matter said, in what would be one of its most ambitious attempts yet to salvage the beleaguered property market. China is considering a proposal to have local governments across the country buy millions of unsold homes, people familiar with the...

The Central Bureau of Investigation (CBI) has arrested Dheeraj Wadhawan, promoter of Dewan Housing Finance Ltd (DHFL), in connection with the ₹35,000 crore fraud with a consortium of 17 banks led by Union Bank of India, people familiar with the development said. Dheeraj Wadhawan. (File) Dheeraj, along with his brother Kapil Wadhawan, who is already lodged in prison, are accused of...

Realty major DLF has set a 15% growth target in sales bookings this fiscal at ₹17,000 crore as it plans to launch many luxury housing projects across Gurugram, Goa and Mumbai amid strong consumer demand, its MD Ashok Tyagi said. DLF has set a 15% growth target in sales bookings this fiscal at ₹17,000 crore as it plans to launch many luxury housing projects across Gurugram, Goa and Mumbai...

IKEA, the Swedish furnishing brand, has signed an Memorandum of Understanding (MoU) with Rhenus, a global logistics leader, to set up an over 1.5 lakh sq ft warehousing facility near Gurugram to provide home delivery services in the Delhi-NCR region. IKEA, the Swedish furnishing brand, has signed an Memorandum of Understanding (MoU) with Rhenus, a global logistics leader, to set up an over 1.5...

Agile Group Holdings Ltd., a Chinese developer of villa apartments and high-rise homes, defaulted for the first time on publicly issued dollar bonds, underscoring lingering distress amid the nation’s unprecedented property crisis.  Chinese Builder Agile Defaults for First Time on Dollar Bonds The company, based in the southern province of Guangdong, hasn’t paid interest within a grace...

Real estate company on Tuesday reacted after an old post featuring its advertisement on the now-collapsed hoarding in Mumbai's Ghatkopar. The company said it had rented the advertisement space for five days in April last year and that it does not own or manage the space. A 100-foot tall billboard was fell on a petrol pump and nearby houses at the Cheddanagar Junction in the Ghatkopar area.(X)...

Three people -- two delivery executives and an elderly resident of Paras Tierea Society in Sector 137, Noida -- had a narrow escape after a lift at the society malfunctioned on Sunday night and shot upwards, coming to a crashing halt on the 25th floor of Tower 25,senior police officers saidon Monday. The three people were going from the eighth floor to the ground floor when it suddenly reversed...