In a judgment closing a 20-year-old battle, the Supreme Court ordered that two open spaces at the Juhu-Vile Parle Development Scheme (JVPD) be maintained as open spaces only. It upheld a 2017 Bombay High Court Order labelling Mhada’s decision to approve construction on the two layout open spaces as an “illegality” and “set off with […]
SC concludes 20-year old battle, declares two JVPD plots as an ‘Open Spaces’.more
Written by Mr Apurva Gupta, Chief Marketing Officer, Rivali Park CCI Projects India’s escalating residential sector is one of the highest suppliers to the country’s total carbon releases that is to account for 22% of India’s over-all annual carbon releases. Buildings account for up to forty percent of the whole energy consumption in India, of which […]
The emergence of sustainability in the ambit of Real Estatemore
Motilal Oswal Real Estate (MORE) raised Rs 1,150 crore from high net worth individuals for its fourth realty fund to invest in housing and commercial ventures around six major cities, a senior company official stated. The fundraising exercise for the India Realty Excellence Fund IV (IREF IV) started in September 2018, and a pledge of […]
Motilal Oswal Real Estate allocates Rs 1,150 crore to invest in housing and commercial project.more
The updated guidelines for ongoing construction projects provided by the Center on April 15 have come as a significant relief to the builders as workers stationed at such sites are now able to begin construction work. The updated guidelines, however, also confirmed that such work cannot be performed in places designated as COVID-19 hotspots. Mumbai […]
Mumbai and Pune city may not get the relief benefit for the construction projects.more
Invoking the force majeure clause in the context of the COVID-19 lockdown, the promoters of the X BKC project in Kala Nagar, Bandra requested MIG Colony’s original tenants not to deposit their cheques for the May-June period. Citing financial problems and bad market conditions, MIG (Bandra) Realtors and Builders Pvt Ltd, part of the DB […]
X BKC project promoter declines to pay rent by citing force majeure clause.more
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 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
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
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
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
