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
Property Websites that go beyond advertisements and allow developers and home buyers to sell/purchase must be registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA) within the next two months. The housing authorities have determined that such websites could be defined as real estate agents. In a recent order, the regulatory officer has indicated that portals […]
Real Estate Websites have to register with MahaRERA in next 2 months.more
On 18 October 2019, the Supreme Court refused to entertain a plea filed on behalf of scam-hit bank account holders Punjab and Maharashtra Cooperative (PMC), seeking to lift restrictions imposed on cash withdrawals by the Reserve Bank of India (RBI). The petitioner Bejon Kumar Mishra told the lawyer Shashank Sudhi to file his petition on […]
Supreme Court rejects depositors’ plea for increasing withdrawals limit on PMC bank.more
More than 500 properties worth over Rs 800 crore located in Chennai, Coimbatore, Mumbai, Kolkata, Delhi, Bengaluru and Hyderabad will be sold through digital auction by the public sector bank India Overseas Bank (IOB). On 21 October 2019 and 30 October 2019, the mega e-auction will take place. For the e-auction, the public sector bank has associated with […]
IOB will e-auction more than 500 properties spread across different cities.more
The Central Government is going to notify the newly established Union territories of Jammu & Kashmir and Ladakh of their implementation of the Real Estate (Regulation and Development) Act, which will prepare for the development of property in the two regions. “The act would be notified by the State Government in Jammu and Kashmir, while […]
J&K, Ladakh will soon receive RERA notification from Centre.more
On October 15, the Delhi High Court sought the Unique Identification Authority of India (UIDAI) response on the demand to link movable and immovable property documents with the Aadhaar number to prevent corruption, black money and benami transactions. UIDAI, which issues a 12-digit unique identification number called Adhaar, received a notice from a bench of […]
UIDAI approach to link property with Aadhaar number to prevent black money, Delhi HC seeks clarification.more
Unlike before, the heat of the total residential slowdown in 2019 begins to feel in the resilient markets of South India according to a report. According to recent research by ANAROCK, in the first three-quarters of 2019 residential sales dropped by 5% compared to the corresponding period in 2018 in Bengaluru, Hyderabad and Chennai. Whereas, The Western […]
Southern Cities experienced a decline in residential demand, whereas Mumbai and Pune saw a 33% increase during the same period.more
The Maharashtra Real Estate Regulatory Authority has proposed registering realty developers and project promoters Self-Regulatory Organization (SROs) along with the authority. According to the regulator, this will help improve the integrity of property builders, strengthen their practices, uphold the code of conduct and prevent dishonest promoters. The regulator specified in a circular, SRO registration shall be […]
MahaRERA declares SROs to be registered by the realty developers and project promoters.more
Apex consumer commission NCDRC has strongly imposed a fine of Rs 25 lakhs for unfair trade practices on a Mumbai-based real estate company and its Director for failure to hand over possession to two home buyers. Anamika Real Estate Private Limited and its director Nitin N Mehta have been placed on “stern advice of caution” […]
Anamika real estate developer in Mumbai fined by NCDRC for delaying possession.more
On Friday, the Central Board of the Reserve Bank of India (RBI) reviewed the current economic situation, international and domestic problems and various fields of activity. The analysis is taking place in the midst of a more marked economic slowdown and recent PMC loan manipulations flagging a new threat to banking governance and NPA frauds. […]
RBI reviews the ongoing slowdown and the economic situation happening in various sectors.more