Category: Other Cities

Karnataka government plans to raise funds by selling Bengaluru housing sites.

April 14, 2020

As per Chief Minister B.S. Yediyurappa on 13 April, with the coronavirus pandemic and subsequent 21-day lockdown causing a financial crisis, cash-starved Karnataka agreed to auction 12,000 housing sites to raise funds. “The government will auction 12,000 corner sites, idle in Bengaluru, to collect funds for development work,” Yediyurappa said following a meeting with ministers […]

Karnataka government plans to raise funds by selling Bengaluru housing sites.more

Home Ministry permits 15 industries to start their work with social distancing norms.

April 13, 2020

Two days until the slated end of the lockdown, the government has enabled more than 15 types of industries to begin their work on a single shift basis with minimal manpower and distancing norms. These involve large electrical goods such as transformers and circuit vehicles, telecom equipment and components like fibre optic cable, compressor and […]

Home Ministry permits 15 industries to start their work with social distancing norms.more

PHD Chamber suggested all under-construction projects to be treated as assets for granting credit to the developers.

April 11, 2020

PHD Chamber of Commerce and Industry (PHDCCI) has suggested that ongoing projects must be treated as assets for providing credit to developers, zero- period interest waiver in Uttar Pradesh should be provided for two years amid COVID-19, and developers who have applied for partial or partial project competition must be issued completion certificates to prevent […]

PHD Chamber suggested all under-construction projects to be treated as assets for granting credit to the developers.more

RBI shows its study for the residential market disruption with a small price drop in the sector.

According to a study by Reserve Bank of India, the residential real estate market has continued to suffer from weak demand and significant inventory overhang. Due to new launches dropping indicating the broad inventory overhang, all India house price levels moderated with Mumbai and NCR exhibiting a small price drop of almost 5 per cent. […]

RBI shows its study for the residential market disruption with a small price drop in the sector.more

Kolte-Patil Developers and a UK based real estate company will jointly develop a 5.4 acre in Pune.

April 10, 2020

Kolte-Patil Developers, a real estate developer based in Pune, has signed an agreement with UK-based real estate company Planet Smart City to jointly build a more than a 5.4-acre parcel of land in Pune. Kolte-Patil would get Rs 91 Crore for his plot’s monetization. Kolte-Patil’s I-Ven Townships (Pune) a Kolte-Patil subsidiary and the UK developer […]

Kolte-Patil Developers and a UK based real estate company will jointly develop a 5.4 acre in Pune.more

DHFL under resolution process, declared to not make any payments to lenders and bondholders.

April 8, 2020

Dewan Housing Finance Corporation (DHFL) said on Tuesday it would not make any interest or principal payments to lenders and bondholders as the firm is under resolution process. The Corporate Insolvency Resolution Process (CIRP) was started against the debt-ridden corporation in compliance with the 2016 Insolvency and Bankruptcy Code regulations with effect from December 3, […]

DHFL under resolution process, declared to not make any payments to lenders and bondholders.more

PCMC collected Rs 198 crore property tax through an online payment system.

April 7, 2020

Pimpri Chinchwad Municipal Corporation’s (PCMC) property tax department raised Rs 198 crore tax via the online payment system, making up the largest portion of Rs 490.11crore’s overall property tax collection for fiscal 2019-20. Smita Zagade, Assistant Commissioner, said this represents the increasing demand for online payment methods. The tax was paid online by owners of […]

PCMC collected Rs 198 crore property tax through an online payment system.more

PMI: UK construction industry experiences the steepest decline in activity in March 2020.

Britain’s construction industry experienced the sharpest decline in activity following last month’s financial crisis, a survey revealed on Monday, despite seeing far less pressure than other sectors that are affected due to coronavirus pandemic lockdown. Also reported last week’s figures from financial data provider IHS Markit and the Chartered Institution of Procurement and Supply (CIPS), indicating the British business sector as a whole is shrinking at the highest pace in more than 20 years. The construction Purchasing Managers’ Index (PMI) plunged to 39.3 in March from 52.6 in February, its lowest since April […]

PMI: UK construction industry experiences the steepest decline in activity in March 2020.more

Maharashtra RERA Rules in Place to Protect Homebuyers from May 1

K-RERA allows three months deadline extensions on all RERA projects.

April 6, 2020

The Karnataka Real Estate Regulatory Authority (RERA) has provided a deadline extension for all residential buildings throughout the city, taking into account the lockdown declared by the state and the union governments. Much of the mass exodus of migrant workers who decided to return to their hometowns before the coronavirus outbreak, the continuing construction projects […]

K-RERA allows three months deadline extensions on all RERA projects.more

Multiplex Association of India (MAI) request for complete rent waiver.

Cinema halls and multiplex operators have requested the malls’ landlords and developers to fully waive the rent and common area maintenance (CAM) during this lockdown and recuperating period. Unlike other industries, the cinema operators, according to the Multiplex Association of India (MAI), have “zero” revenue during the lockdown period and before that when several state […]

Multiplex Association of India (MAI) request for complete rent waiver.more

Category: Other Cities

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