Daily interesting real estate news

CBRI develops 'affordable' smart face mask for construction workers

Researchers at Roorkee-based Central Building Research Institute (CBRI) have developed a battery-powered smart face mask for labourers deployed at building construction sites. The researchers said the smart face mask gives pure air for breathing to users as it has multi-layer filters such as electrostatic, HEPA and laser arrangements.

Kajaria Ceramics' net profit dips 42.26% in Q2 FY23

Kajaria Ceramics has reported a dip of 42.26 per cent in its net consolidated profit during the quarter ended September 30, 2022. Its profit after tax (PAT) stood at Rs 68.89 crore in Q2 FY23 as against Rs 119.32 crore it registered in the corresponding quarter of the previous fiscal.

Telangana government to regularise land in 44 colonies in six assembly segments

In a relief to people living in 44 colonies spread across LB Nagar and five other assembly constituencies, the state government has decided to regularise land up to 1,000 square yards. a nominal amount of Rs 250 per square yard would be charged for regularisation.

PM inaugurates 3,024 newly constructed flats for EWS in Delhi

PM Narendra Modi inaugurated 3,024 newly constructed flats for the Economically Weaker Sections in Delhi as part of an in-situ slum rehabilitation project. The in-situ slum rehabilitation in 376 Jhuggi-Jhopri clusters is being undertaken by the Delhi Development Authority in line with the pm's vision to provide housing for all.

Maharashtra to push e-registration of first-sale units by developers

The state property registration department is gearing up ensure that at least 20% of first-sale (brand new) units are registered online by builders, after starting e-registration from developers’ offices. The total expected units to be registered from developers’ offices is around 1.43 lakh units. For now, daily registration is limited to 10-15 documents.

China Evergrande unit gets notice for $4.48 billion loan from Shengjing Bank

Debt-laden property developer China Evergrande Group's unit received a notice of enforcement for unrecoverable funds from Shengjing Bank Co Ltd. The bank said it failed to recover funds totalling 32.595 billion yuan ($4.48 billion), which was provided to the unit from 2020 to 2021, according to Evergrande.

RERA scam in Kalyan: Out of 65 developers, bank accounts of 40 frozen

The Special Investigation Team (SIT) probing the RERA scam in Kalyan-Dombivli have got freeze orders for the bank accounts of 40 developers out of 65 developers from Kalyan-Dombivli, who were involved in the RERA scam. developers had sold many of the flats from these illegal buildings constructed in the last three years.

Bhopal civic body issues notices to 800 property tax defaulters

Civic body issued notices to 121 shop keepers and 687 property tax defaulters. BMC moves comes at the end of the concession period on October 31. Effective recovery of dues is planned by BMC By identifying 50 ‘big defaulters’ for each ward directions for attachment of properties or closure of shops has been mandated.

Guwahati civic body to issue SOP to stop piling up of construction materials on roadsides

Guwahati Municipal Corporation (GMC) will soon come up with a standard operating procedure (SOP) to prevent the practice of piling construction materials on roadsides, thereby causing heavy traffic congestion, blocking footpaths and siltation of drains. GMC is currently imposing a small amount of penalty as “a symbolic enforcement”, so that people become aware of its harmful impact and avoid such a practice.

Delhi: 586 teams formed to ensure implementation of ban on construction work

Delhi environment minister Gopal Rai said the city government has set up 586 teams to ensure strict implementation of the ban on construction and demolition activities in the national capital in view of worsening air quality. The Commission for Air Quality Management (CAQM) has directed the authorities in the NCR to implement curbs, including a ban on construction and demolition activities, under stage III of the Graded Response Action Plan, Rai said.