Daily interesting real estate news
2022-09-13
Chhattisgarh amends rules to simplify regularization of unauthorized development
Chhattisgarh government has amended the unauthorized development (Regularization) Act to bring more transparency and simplify the rules to regularize such development in the state. With the implementation of new provisions, the citizens will be able to easily regularize their unauthorized development.
2022-09-13
DB Realty may be acquired by Adani Realty: Media reports
Adani Realty, the luxury property arm of the leading multinational conglomerate Adani Group, is in advanced talks for a merger with Mumbai-based DB Realty, according to media reports. Shares of DB Realty hit their upper circuit. Post-merger, DB Realty would be renamed Adani Realty. The deal will allow the back-door listing of Adani Realty on the exchanges.
2022-09-13
Bosch leases 2.5 lakh sq ft office space in Hyderabad
Bosch has leased around 2.5 lakh sq. ft. office space in Hyderabad to expand its operations in one of the largest office lease deals in the city in recent times. The new facility is at Sattva Group-owned office park-Knowledge city. The software major will be paying a rental of around Rs 120 per sq. ft or around Rs 30 crore annually. The lease term has a five-year lock-in period with a 9-year lease.
2022-09-12
Punjab: Online submission of applications to get NOCs for regularization of properties
The Punjab government has introduced a facility of online submission and processing of applications for obtaining no objection certificates to ensure their timely disposal for regularization of properties situated in unauthorized colonies in the state. The state government has fixed a deadline of maximum 21 working days to complete the whole process of issuing the NOCs.
2022-09-12
Chandigarh housing board allots 18,000 vacated flats under rehabilitation scheme
Chandigarh Housing Board (CHB) has allotted about 18,000 flats under rehabilitation scheme, small flat scheme and affordable rental housing scheme. These flats have been allotted for the occupation of the allottee and their families. The teams constituted by the CHB inspects whether the flat is occupied by the allottee and his family, and whether monthly rent/licence fee/installments is being paid regularly.
2022-09-12
Bengaluru: 629 ‘faulty’ buildings, notices issued to owners of 423 to raze structures
Bruhat Bengaluru Mahanagara Palike officials are worried over the ‘poor condition’ of buildings in the city that are on the verge of collapse. As per a survey, there are 629 ‘faulty’ buildings in the city. The maximum buildings are in south zone (216), followed by west (160), east (101), Yelahanka (84), Mahadevapura (37), Bommanahalli and Dasarahalli (11 each) and nine in RR Nagar. The civic agency is issuing reminders to the building owners to raze the structures in question.
2022-09-12
Registration of homes in Hyderabad region down 36% in August 2022
Registration of residential properties in Hyderabad region fell 36 per cent year-on-year to 5,181 units on lower demand, according to Knight Frank India. In August 2021, 8,144 housing units were registered in the Hyderabad residential market that includes four districts -- Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. The total value of properties transacted in August 2022 stood at Rs 2,657.8 crore, compared to Rs 3,809 crore in the same month last year.
2022-09-12
Fractional ownership platform hBits raises Rs 20 crore from angel investors
Fractional real estate ownership platform hBits has raised about ₹20 crore in an angel round of funding from venture capital funds and marquee investors, including IIFL chairman Nirmal Jain, Snow Leopard Ventures and Incred Capital. The property technology company is planning to scale up various activities, including acquisition of new assets under management, customer acquisition and expansion of the business to newer cities.
2022-09-12
MahaRERA, registration department data integration soon
Data related to MahaRERA-registered projects may soon be integrated with that of the registration department to check for any violation of rules, senior revenue officials have confirmed. Officials said "We have nearly 3,000 developers registered with us in the state. The integration of our data with that of the registration department will keep a check on the fly-by-night operators and help citizens, who may be caught unawares.
2022-09-12
Haryana: Error in property tax ID? Submit complaints via NDC
Residents will now have to submit their objections and apply for new property IDs via the Haryana government’s no-dues certificate (NDC) portal since the MCG has decided to discontinue its grievance site for property tax. The civic body has also decided to form a separate NDC cell to immediately resolve property IDs-related grievances.