Daily interesting real estate news

Australia's property downturn puts home buyers in double mortgage bind

Australia's housing market downturn is squeezing many home sellers into a double bind: They've taken out a mortgage for a new home but are holding out for a good deal on their old place, forcing them also to hold a bridging loan to cover their previous mortgage. And with prices now falling at their fastest pace in four decades, a sharp reversal from the 25% annual price rises seen just a year ago, the durations of those bridging loans are doubling or even quadrupling from their typical three-month span.

Tablespace Technologies leases 1.2 million sq ft in the last six months

Managed office space provider Tablespace Technologies has leased 1.2 million sq feet in the last six months, taking its total footprint to over 5 million sq feet as demand from corporates rises amidst the adoptation of work from home and hybrid work model. In one of the largest flexible office lease transactions in the country, Table Space Technologies rented 3.5 lakh sq ft office space in Outer Ring Road (ORR), Bengaluru, to Schneider Electric IT Business India, part of a French multinational company.

Trehan Iris lease out three lakh sq ft at Iris Broadway mall in Gurugram

Realty developer Trehan Iris has leased over one lakh sq ft in its Iris Broadway mall in, Sector 85 & 86, Gurugram during April-June quarter. With this, the company has leased over 3 lakh sq ft so far. The leasing includes 2.5 lakh sq ft in retail and approximately 56,000 sq ft in its 4-star hotel.

CIDCO presents 4,158 flats for sale in Navi Mumbai

The City and Industrial Development Corporation (CIDCO) has presented a scheme for the sale of 4,158 apartments in Navi Mumbai on the occasion of Ganesh Chaturthi. Under the mass housing scheme, 4,158 apartments located in Dronagiri, Kalamboli, Taloja and Kharghar nodes of Navi Mumbai have made available for sale at affordable rates.

Rajasthan CM pulls up civic officials for delaying lease deed distribution

Chief minister Ashok Gehlot pulled up officials of civic bodies for the slow speed of lease deeds distribution in Prashasan Shehron Ke Sang campaign. The government introduced hoards of amendments and decided to give lease deeds for just Rs 500, officials were dilly dallying in giving lease deeds. The CM also announced the launch of Indira Gandhi Urban Employment Guarantee Scheme from September 9. He said 1.5 lakh people have already registered for the job.

Eye on expansion, Hidco set to survey 20,000 acres around New Town, Rajarhat

Housing Infrastructure Development Corporation (Hidco) will conduct a detailed land survey in the 20,000-acre neighbourhood areas of New Town and Rajarhat. The survey aims to prepare a base map and land use development plan for development and planned urbanisation. The land survey will cover a total of 30 mouzas under different gram panchayats like Jyangra Hatiara, Patharghata, Mahisbathan II, Rajarhat Bishnupur and the erstwhile Rajarhat Gopalpur municipality that now falls under Bidhannagar Municipal Corporation.

Maan-Mhalunge scheme to be implemented in next six months: PMRDA

The PMRDA commissioner reviewed the project and said that work will be put on the fast track. He reviewed the 36-metre road work, which has been proposed from Hinjewadi to Mercedes-Benz International School.The PMRDA has allocated Rs100cr for the town planning scheme. The Maan-Mhalunge town planning scheme is modelled on Gujarat’s town planning scheme.

Mumbai: 2,200 police families in BDD chawls to get flats

Around 2,200 police families in BDD chawls will get 500 sq ft flats for Rs 15 lakh each. These are part of 2,900 police quarters owned by the Mumbai Police commissioner. The balance 900 flats will be handed over to the commissioner. The housing department issued a GR on Tuesday after the decision was announced in the legislative assembly by deputy CM Devendra Fadnavis, who also holds the housing portfolio.

District administration, Indore development body explore new avenues to raise revenue

Indore district administration, with help of Indore Development Authority (IDA), is exploring a new source of generating revenue by developing residential and commercial properties on the government land and selling the same. Collector Manish Singh and IDA CEO Ramprakash Ahirwar reviewed the land pooling process for TPS-1, 2, 3, 4, 5, 7, 8, 9 and TPS-10 proposed in Indore.

Illegal structures in Karvenagar green zone razed in second phase of Pune civic body's action

The Pune Municipal Corporation (PMC) carried out a major drive against illegal structures in the Erandwane and Karvenagar areas, focusing on constructions carried out without proper permissions, including those in the prohibited areas of the green zone. The drive was conducted by the building permissions department. This was the second phase of action against constructions in the green zone of the riverbed near DP Road in Karvenagar.