Category: Construction Industry

Government to Launch Online Portal for Real Estate Sector

Government to launch an e-commerce platform for the real estate sector by January 2020.

November 4, 2019

According to the recent updates, Union Housing and Urban Affairs minister Hardeep Singh Puri stated, that the central government is going to establish an e-commerce platform for the real estate sector. On Monday, Puri said at the first National RERA conclave in Lucknow, “I had a discussion with CREDAI and NAREDCO and very soon we’ll […]

Government to launch an e-commerce platform for the real estate sector by January 2020.more

Delhi-NCR developer demands that a homebuyer complaint should be first drawn to RERA before NCLT.

Even individual homebuyers who take builders to bankruptcy court, demand by the rattling property developers of Delhi-NCR says that all consumer complaints by regulator RERA be heard before insolvency proceedings have been initiated. According to CREDAI, around 450 real-estate companies/projects across the country face insolvencies under the Insolvency and Bankruptcy Code (IBC), due to defaults […]

Delhi-NCR developer demands that a homebuyer complaint should be first drawn to RERA before NCLT.more

Indiabulls Real Estate to focus on Indian market; sells London property for 200 mn pounds to promoters.

November 2, 2019

Indiabulls Real Estate on Saturday said that, within its plan to focus on the Indian market and to cut debt, it has sold its property in London to a developer group company for 200 million pounds (around Rs 1,830 crore). On 28 September, The shareholders of the company approved a proposal for the sale of their London […]

Indiabulls Real Estate to focus on Indian market; sells London property for 200 mn pounds to promoters.more

Goregaon-Mulund link road project gets on hold as NBWL demands environmental impact report.

November 1, 2019

One of Brihanmumbai Municipal Corporation (BMC)’s most ambitious projects the Goregaon-Mulund Link Road (GMLR), has reached a roadblock with a report from the National Board for Wildlife (NBWL) seeking a municipal government to conduct an environmental impact assessment before, during and after the project’s completion. In February of this year, the NBWL had settled the GMLR […]

Goregaon-Mulund link road project gets on hold as NBWL demands environmental impact report.more

Goa Government is planning to set a construction waste recycling plant with Irish Technology.

October 31, 2019

On 29 October, Goa government, with the help of SINTEF Norway, Science and Technology Minister Michael Lobo, will set up a Construction and Demolition (C&D) waste recycling facility based in Irish technology. The facility will likely be located in North Goa while waste to energy plant is being planned in South Goa. In his speech to the reporters […]

Goa Government is planning to set a construction waste recycling plant with Irish Technology.more

NESCO provides 6 lakh sqft office space in Mumbai to various firms.

The diversified business Nesco Ltd has given companies like HERE Technologies and IndiaFirst Life Insurance with over 6 lakh sqft prime offices in Mumbai. Nesco Ltd has built ‘Nesco Tower-4’ which comprises one million sq ft of leasable area in Goregaon East, Mumbai, with an investment of about Rs 600 crores, except land cost. Nesco Ltd […]

NESCO provides 6 lakh sqft office space in Mumbai to various firms.more

Ten Bungalows at Malad West have been allegedly marked under Slum Rehabilitation Authority Scheme.

October 30, 2019

In Malad West at Orlem, owners of almost 10 bungalows, claiming they live there for decades, were allegedly told a member of a neighbouring colony of sweepers to incorporate them without their knowledge in a Slum Rehabilitation Authority (SRA) scheme. The 10 bungalows in D’Monte Lane received notifications of demolition after their owners were considered as […]

Ten Bungalows at Malad West have been allegedly marked under Slum Rehabilitation Authority Scheme.more

A society which has taken on the redevelopment under RERA is not liable for free sale flats.

The High Court of Bombay said that a housing society that terminated their redevelopment agreement with a developer due to delay and then took over redevelopment through judicial decisions cannot be held liable, under RERA, as a ‘promoter’ for buyers that have reserved free sale flat. Justice S C Gupte nullified an order from the City Court […]

A society which has taken on the redevelopment under RERA is not liable for free sale flats.more

MahaRERA in Pune allows home-buyers to complete stressed project of DSK group.

October 29, 2019

The real estate regulator of Maharashtra allowed homebuyers to complete a stuck project in Pune run by the stressed company DSK Group. More than 90% of the project has been christened “Sadaphuli” in Talegaon is finished in six years since it was launched, while buyers who have booked their apartments will now finish the rest, […]

MahaRERA in Pune allows home-buyers to complete stressed project of DSK group.more

GVK receives more than Rs 7,600 crore from its investors, plans to cut off the company’s debts.

The GVK Group has announced that it has raised more than Rs 7,600 crore from its stakeholders’ and the proceeds will be used for debt reduction and acquisition of 23.5% stake in the Mumbai International Airport (MIAL). This should prevent the bid of the Adani Group to acquire a stake in the company which operates […]

GVK receives more than Rs 7,600 crore from its investors, plans to cut off the company’s debts.more

Category: Construction Industry

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