Construction

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...

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...

(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...

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....

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...

The Yamuna Expressway Industrial Development Authority (Yeida) on Friday said the enforcement directorate (ED) has sought the details of Greenbay project that was being developed by Orris Group in Sector 22D. Yeida, on February 12, 2018, during an audit found out that eight real estate developers, including Oriss Group, diverted ₹860 crore collected from homebuyers, a contention that was...

Bank of America, through its non-banking subsidiary, has leased two commercial units in Malad for 10 years at a starting monthly rent of ₹91.5 lakh, documents accessed by FloorTap.com showedThe two office units are located in Prism Tower, Malad. Bank of America through its non-banking subsidiary has leased two commercial units in Malad for 10 years at a starting monthly rent of ₹91.5 lakh....

Rekha Jhunjhunwala, who is the wife of late billionaire Rakesh Jhunjhunwala, has purchased an apartment in Mumbai for ₹11.76 crore, documents accessed by IndexTap showed. Rekha Jhunjhunwala, who is the wife of late billionaire Rakesh Jhunjhunwala, has purchased an apartment in Mumbai for ₹11.76 crore. (Picture for representational purpose only) (Pratik Chorge/HT Photo) The apartment is...

Is Egypt ready for its next energy crisis?  Egypt’s special talent is in announcing bold megaprojects with the nation-building potential of the Suez canal, El Dabaa nuclear plant, or its new capital city outside Cairo, and then frittering the opportunity away amid counterproductive regulations, corruption and...

Britain is a big tent, not a narrow tabernacle With the ascension of Zambian-born Vaughan Gething as Welsh Labour leader and first minister-elect, all senior elected offices in the British Isles are held by ethnic minorities. The prime minister, Rishi Sunak is, by ethnic origin, Hindu- Punjabi; Scotland’s...