Daily interesting real estate news
2022-08-28
West Bengal government to auction six more Alipore plots
KOLKATA: After the 5.6 acre land parcel in Alipore attracted the highest bid of over Rs 400 crore by a Mumbai-based real estate developer, the state plans to e-auction six more land parcels in Alipore totalling 11 acres as part of the Alipore totalling 11 acres as part of the Alipore Green City development project. Mumbai-based Phonex group gave the highest bidding price of about Rs 410 crore and is likely to win the bid. Hidco had fixed a starting bid price of Rs 236.7 crore for the plot at Rs 42.3 crore per acre.
2022-08-27
RLDA calls bid to lease 3.5 acres land in Dharmavaram for commercial development
Rail Land Development Authority (RLDA) has called bids for leasing a land parcel of 3.5 acres at Dharmavaram in Anantapur district for commercial development. RLDA will grant the land parcel for period of 45 years on lease. It has put the reserve price at Rs. 9.58 crore. RLDA vice-chairman Ved Prakash Dudeja said that the last date for submission of e-Bids is September, 13.
2022-08-27
Ahmedabad: Builder held for cheating two of Rs 4.4 crore after promising flats
City crime branch arrested a builder from Navrangpura area in connection with two complaints of cheating after he allegedly duped an NRI woman of Rs 3 crore and an Ambawadi resident of Rs 1.40 crore after promising to sell them houses. According to the cops, two FIRs were filed against Saurin Panchal at Ellisbridge and Detection of Crime Branch (DCB) police stations on April 28 and May 14 respectively.
2022-08-27
Bhubaneswar: Odyssa Homes & Commercials' MD held for cheating buyers of Rs 20 crore
The economic offences wing (EOW) of the state Crime Branch arrested the managing director of a real estate company, for allegedly duping several home buyers of nearly Rs 20 crore. Aurobinda Santara, MD of Odyssa Homes & Commercials Pvt Ltd, had floated an apartment project under the banner of Ganapati Homes near Kalinga Studio Chhak here in 2013. He also started accepting the booking amount from buyers.
2022-08-27
Mumbai: Special CBI court cancels builder Satyen Tandon's bail
A special CBI court cancelled the bail granted to builder Satyen Tandon for breach of conditions after he did not furnish the surety on time, and no plea was filed for extension of time. Tandon was arrested immediately after the court’s orders and remanded to judicial custody for 3 days. He Arrested in May in the scam case involving DHFL, Tandon was granted bail in July. The court had then observed that though there was prima facie evidence against him, since he had deposited Rs 4 crore, it was a mitigating factor for granting bail.
2022-08-27
DMRC takes steps to prevent pollution due to Patna metro construction
Delhi Metro Rail Corporation (DMRC), the nodal agency for the Patna Metro rail project, has taken environment-friendly measures to prevent pollution during the ongoing construction work on the Corridor II, which will have 14.45km-long network from Patna junction to Patliputra bus terminal. To ensure that the soil and muck dug out during the construction work on underground and elevated section do not spill on the road, the DMRC has procured automatic 'Wheel Wash Facility' at all the construction sites.
2022-08-27
GIC Housing Finance to raise up to Rs 2,500 crore via bonds
The housing financier will seek approval from its shareholders on the capital raise plan in the upcoming annual general meeting on September 23, 2022. "Seeing the long-term borrowing requirement of the company and to augment resources at a cheaper rate of interest, approval is sought to mobilise some more funds by way of issue of redeemable NCDs/bonds on private placement basis," GIC Housing Finance said in its annual report 2021-22.
2022-08-27
Bombay HC slams builder for encroachment on playground plot
The Bombay high court slammed a developer whose construction encroached on an adjacent 6,000sqmt plot reserved for a playground next to St Elias High School in Khar (west), flouting a Supreme Court order passed more than 27 years ago. The high court in November 2021 had restrained further construction on it. The PIL said that in 2019 the developer began construction for an SRA project in the neighbouring plot. In August 2021, excavation commenced on the playground reserved plot. The petitioners wrote to authorities to urgently demarcate and develop the playground in vain. The school has nearly 2,000 students.
2022-08-27
Kochi: Immovable properties of Holy Faith Builders and Developers frozen
KOCHI: Revenue authorities have frozen immovable properties of the builder of the builder of the demolished H2O Holy Faith apartment complex in Maradu as he has failed to provide compensation to the flat owners. H2O Holy Faith was one among the four apartment complexes which were demolished in January 2020 for violation of coastal regulation zone rules.
2022-08-26
Indore civic body seals nine commercial outlets
Indore Municipal Corporation (IMC) Launching a drive against people violating building permission norms and property taxes for that sealed nearly a dozen commercial establishments. Three establishments of Bicholi Mardana area including two food outlets and an automobile service station were sealed for operating without completion certificates.