Daily interesting real estate news
2022-09-12
Bengaluru: CID arrests Mantri Developers' director, son after complaints from buyers
Sleuths from Criminal Investigation Department (CID) arrested city-based Mantri Developers Private Limited promoter-director Sushil Panduranga Mantri and his son Pratik Mantri, who is also a partner in the company, in the backdrop of complaints from homebuyers over not handing over flats in different projects across the city. Several homebuyers had filed complaints with Subramanyapura police stating that they were cheated of money by the builders, who had lured them with attractive offers, misleading brochures and fake schemes.
2022-09-11
Allow sand mining at fixed sites, says South Goa MP
South Goa MP Francisco Sardinha, reacting to the recent Curchorem murder case linked to illegal sand extraction, said that the government should take immediate steps to regularise sand mining by earmarking sand extraction sites. He demanded that the sand extraction by traditional methods be permitted with restrictions such as not being carried out in the vicinity of bunds or bridges.
2022-09-11
Indian Overseas Bank, Bank of Baroda raise MCLR rates by up to 0.10%
Bank of Baroda and Indian Overseas Bank have raised their MCLR rates by up to 0.10 per cent, which will make most loans costlier for the customers. The benchmark 1-year tenor marginal cost of funds based lending rate (MCLR) has been revised to 7.75 per cent against the existing rate of 7.65 per cent.
2022-09-11
Air India Group starts vacating its offices from government-owned properties
Air India has decided to vacate its offices in government-owned properties, and will house them jointly with other Tata group airlines, including Vistara, in a modern campus in the national capital region by March next year. Airline staff in this office as also the ones in Delhi's Safdarjung Complex, GSD Complex and IGI Terminal One will be temporarily located in an office space in Gurugram beginning this month and will move to a newly-built Vatika complex in early 2023.
2022-09-11
Adani Group's open offer for ACC, Ambuja Cements gets mild response from investors
Adani Group's Rs 31,000-crore open offer to acquire 26 per cent additional stakes in Swiss firm Holcim's two Indian listed entities ACC Ltd and Ambuja Cements. around 40.51 lakh equity shares were tendered against the original offer of 4.89 crore shares, which is just 8.28 per cent. Similarly, for Ambuja Cements only 1.35 per cent of shares were tendered.
2022-09-11
Officials to face FIRs if any illegal registry found: Gurugram deputy commissioner
GURUGRAM : Revenue officials will face penal action for executing illegal registries. The deputy commissioner has ordered the registration of FIRs against any revenue official found to be involved in executing an illegal registry. He also urged residents not to go for the registry of a floor in a house constructed on less than 180 square yards. “The registry will get cancelled and officials involved in the registration process will be penalised,” he warned.
2022-09-11
Plan for Noida Metro's Aqua Line extension till Bodaki ready
A detailed project report (DPR) for a 2.6km extension of Noida Metro's Aqua Line from Greater Noida's Depot station to Bodaki was presented at the 127th Board meeting of GNIDA in Lucknow. As per the DPR, prepared by Delhi Metro Rail Corporation (DMRC), there will be two stations - Junpat and Bodaki - on the 2.6 km-long track.
2022-09-11
NGT issues notice to Rajasthan government over pollution by brick kilns
National Green Tribunal (NGT) central zone bench Bhopal issued notice to the state government on a petition over pollution caused by brick kilns using coal. The next hearing of the case is on October 18. The use of large quantities of coal and pet coke in brick kilns contributes significantly to the emission of carbon dioxide (CO2), and particulate matter (PM).
2022-09-11
Highrises along Noida Expressway to get facade lights
On the lines of famous cities like New York, Singapore and Dubai, high-rise buildings along the 25-km-long Noida expressway will soon get facade lighting. The Noida Authority has changed the building bylaws to make facade lighting mandatory on these buildings. Advent Building, One Sky, Amity University and ATS Tower will get the lights in the first phase.
2022-09-10
ZippMat raises $10 million in funding led by Matrix Partners India
ZippMat, a service platform for construction supply chain, has raised $10 million in an equity and debt round led by Matrix Partners India. ZippMat will utilise the latest funds to scale up its user base, digitise the supply chain, bring in product innovation, and expand its team from the current 25 people.