Indian real estate news

CCI orders another round of probe against DLF
February 9, 2015

CCI orders another round of probe against DLF09-February-2015 After finding the real estate titan guilty of violating fair trade regulations in a fresh case, the Competition Commission of India has ordered for probe against the company for abusing market position. In the past, DLF had been directed to pay a penalty of Rs 630 crore for violating fair trade regulations....

Competition Commission dismisses unfair business charges against Noida Authority
February 9, 2015

Competition Commission dismisses unfair business charges against Noida Authority09-February-2015 Fair trade regulator, Competition Commission of India (CCI), dismissed charges that the NOIDA Authority, Yamuna Expressway Industrial Development Authority and the Greater Noida Industrial Development Authority had indulged in unfair business practices with regard to land allotment. A complaint had been filed against the entities stating that they had abused their dominant market positions to impose discriminatory terms on the land allottees. However, the CCI refuted all such claims....

South Delhi Municipal Corporation to notify villages for land pooling
February 9, 2015

South Delhi Municipal Corporation to notify villages for land pooling09-February-2015 South Delhi Municipal Corporation is in the process of notifying 39 villages as falling under the land pooling policy of the Delhi Development Authority (DDA). In accordance to the NCR Regional Plan, the villages which have been categorized under green belts, lal doras, forest areas or unauthorised settlements, will not be taken into consideration for land pooling....

Road Transport and Highways Ministry has high expectations of Budget 2015
February 8, 2015

Road Transport and Highways Ministry has high expectations of Budget 201508-February-2015 “The ministry has sought about Rs 50,000 crore budgetary allocations for 2015-16 to take forward its ambitious highways development plans,” announced the Road Transport and Highways Ministry. This demand followed the announcement for the construction of 30 km of highways every day in order to make up for delayed infrastructure development work....

Government seeks bids for building smart cities on Delhi-Mumbai Industrial Corridor
February 7, 2015

Government seeks bids for building smart cities on Delhi-Mumbai Industrial Corridor07-February-2015 The government has, at last, moved beyond the conceptualization stage and sought bids for developing the core infrastructure of smart cities on the Delhi-Mumbai Industrial Corridor. The Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC) has set the stage for construction in the greenfield city in the Pithampur-Dhar-Mhow Investment Region in Madhya Pradesh....

Godrej has a robust pipeline of projects
February 7, 2015

Godrej has a robust pipeline of projects07-February-2015 Headquartered in Mumbai, Godrej Properties Limited (GPL) has established a strong presence in Ahmedabad, Bangalore, Pune and the National Capital Region (NCR). The company has strong prospects with a steady line of large and geographically-diversified portfolio of both, commercial and residential projects. Last year, project launches had slowed down due to sluggish market sentiments; however, in 2015, the company has a robust pipeline of residential projects....

Press Release

CREDAI-NCR donates 04 Mobile Science Labs to Agastya Foudation
February 6, 2015

CREDAI-NCR donates 04 Mobile Science Labs to Agastya Foudation06-February-2015 With the express interest of empowering students and promoting sustainable development, the Confederation of Real Estate Developers Associations of India, National Capital Region (CREDAI NCR) donated 04 Mobile Science Labs to Agastya Foudation. This charitable education trust runs mobile hands-on science education program for economically-disadvantaged children and teachers. The Foundation will aid government schools students to learn science via experiments.

Press Release

Mona Townships launches mixed-use township in Mohali
February 6, 2015

Mona Townships launches mixed-use township in Mohali06-February-2015 Leading real estate developer, Mona Townships Private Limited (MTPL) has announced the launch of Jade Business Park, which is a sprawling 14-acre, mixed-use township. The project is located in the heart of Mohali in proximity to the state highway, international airport and the Banur-Landran-Kharar road. The township will feature all amenities that a modern homebuyer looks for, such as power back-up, green parks, three-tier security and terrace cafeterias.

Chandigarh Housing Board compensates Parsvnath with Rs 572 crore
February 6, 2015

Chandigarh Housing Board compensates Parsvnath with Rs 572 crore 06-February-2015 Parsvnath Developers received a compensation of Rs 572 crore from the Chandigarh Housing Board (CHB). This is done after both the parties agreed to accept arbitration payment in a dispute over a project construction in 2006. Even the developer has surrendered 124 acres of land. In 2006, Parsvnath had entered into a deal with CHB for developing housing and commercial facilities on 123.79 acre project in the Rajiv Gandhi Technology Park. However, after some amount was paid to the CHB between 2006 and 2008, the agreement was terminated....

Real estate pros push for sops in Budget
February 6, 2015

Real estate pros push for sops in Budget06-February-2015 “We expect attractive tax norms for real estate investment trusts (REIT)...We'd be most happy if interest rates for home loans are reduced, which will boost the sector and help bridge the gap between demand and supply…,” says P Sahel, Vice-chairman, Lotus Greens India Inc. Along with the CREDAI, developers have put forth the sops they are expecting in the upcoming Budget to the ministries....

Noida properties become costlier as circle rates head north
February 6, 2015

Noida properties become costlier as circle rates head north06-February-2015 Allotment rates were increased a few months ago and now circle rates in Noida and Greater Noida are following suit. It is expected that the UP stamp and registry department will hike circle rates by 17-20 per cent. Assistant inspector general S K Singh confirmed this fact although he did not mention whether the spike in rates will be applicable immediately or in the new financial year....

Dwarka projects plagued by lack of basic civic amenities
February 6, 2015

Dwarka projects plagued by lack of basic civic amenities06-February-2015 Dwarka is the hotspot for those looking for cost effective living in the country's capital. However, the area is plagued by lack of basic civic amenities, such as electricity, water and roads. Those who have moved in to their newly-built flats are now blaming the developer and the government. The problems faced by the residents of the area are such that even subsidized power supply and water supply through private tankers are not providing any solace to the residents....

Lessons to learn from Hyderabad real estate
February 6, 2015

Lessons to learn from Hyderabad real estate06-February-2015 Now that the Telangana issue is out of the way, Hyderabad is seeing plenty of infrastructure and residential development. There are government plans of improving safety measures as well as de-congesting the city. With better road connectivity, introduction of the Green Channel and solar metering system, Hyderabad can set a brilliant example to the other cities of India....

Mumbai office realty see rising demand
February 5, 2015

Mumbai office realty see rising demand05-February-2015 It’s a double pronged factor that is propelling Mumbai office demand – there is some rise in demand which is further pushed by lack of good office spaces. According to a Colliers International report – India Office Trends To Watch For In 2015 – Mumbai’s office space is geared to witness a rise this year after several years of a downtrend....

Residential property sale dip in top 6 cities but prices continue to soar
February 5, 2015

Residential property sale dip in top 6 cities but prices continue to soar05-February-2015 A study conducted by research firm Liases Foras state that home sales in Delhi-NCR, Mumbai, Pune, Bangalore, Chennai and Hyderabad have collectively fallen by eight per cent in the quarter ending December. However, this did not impact property prices, which increased by an average of 7 per cent during the same span. Unsold inventory in all these cities stood at 832.09 million sq ft....

Affordable housing – Is it a myth or soon-to-be reality?
February 5, 2015

Affordable housing – Is it a myth or soon-to-be reality?05-February-2015 Thanks to the soaring prices of property and stagnating sales, BJP’s promise of affordable housing continues to remain elusive. The average cost of a residential apartment in Mumbai is Rs 3.03 crore, which is far from being affordable for the common man. With further increase in the ready-reckoner rate, any lingering hope for correction has been shattered....

Does provisions of Land Acquisition Act guarantee fairness for farmers?
February 4, 2015

Does provisions of Land Acquisition Act guarantee fairness for farmers? 04-February-2015 The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act (LARR) has been one of the most debated topics since 2013. Farmers claimed that the LARR have not provided sufficient compensation to those who lose their land to developers. Social movements supporting farmers argued that the Act contained loopholes, including exempting irrigation projects, while permitting private companies to continue acquisition....

SC directs developers to pay additional compensation to Noida farmers
February 4, 2015

SC directs developers to pay additional compensation to Noida farmers   04-February-2015 The Supreme Court of India upheld the Allahabad High Court’s order which directed developers to pay an additional 64.7 per cent as compensation to farmers in Noida and Greater Noida whose land had been acquired. This judgment came as a major blow to developers. Earlier, the HC had cancelled land acquisition in three villages and directed government authorities to pay higher compensation in addition to 10 per cent of developed land in 60 villages nearby. The Noida Authority had challenged the order....