Daily interesting real estate news
2022-08-25
Nagpur: Within a year, PMAY flats face rainwater seepage, cracks & various other problems
Due to alleged inferior quality of works done by Nagpur Metropolitan Region Development Authority (NMRDA), some 320 families residing in flats constructed under the Pradhan Mantri Awas Yojana (PMAY) are facing rainwater seepage, electric shocks and other problems within a year of taking possession. Under PMAY, NMRDA had constructed 942 flats on khasra no. 62 under mouza Tarodi. There are 48 wings with G+4 floors each. NMRDA had handed over possession of 450 flats, of which 320 are occupied.
2022-08-25
Legal ownership of land set to be provided in 400 villages in Indore
Indore district administration, in Record of Rights (ROR) under Swamitva Scheme, has started compiling a data of ‘original owners’ of a land in as many as 400 villages to provide the occupant of the properties its legal ownership. In the remaining 321 villages, the administration is facing some technical issues or the same have been listed in the ‘abandoned’ category in the existing records.
2022-08-25
SMSs for additional property tax sent inadvertently: Pune civic chief
Municipal commissioner Vikram Kumar said citizens who have received SMSs to make additional payments towards property tax should not pay the amount, as the text messages were inadvertently sent due to some technical errors. Nearly 60,000 property owners across the Pune Municipal Corporation (PMC) limits had received such messages from the civic body.
2022-08-25
Maharashtra housing federation fine with water data share, not fee
The Central Ground Water Authority (CGWA) has issued a public notice, directing old and new housing societies, and residential apartments in urban areas to register their groundwater withdrawal by September-end. The notice stated that strict action would be initiated against those not registering with CGWA. The Maharashtra State Housing Federation said its members were willing to share information on the groundwater use but refused to pay the registration fee of Rs10,000 per unit for fresh permission to withdraw the same, as demanded by the Central Ground Water Authority in a public notice.
2022-08-25
Omkar Group promoters discharged in money laundering case
MUMBAI: A special PMLA court discharged Omkar Group promoters Babulal Varma and Kamalkishore Gupta from a money laundering case. Earlier this month, the accused moved discharge pleas before the special PMLA court through their advocates Vijay Aggarwal and Rahul Agarwal.
2022-08-24
Navi Mumbai: Cidco earns Rs 298 crore from e-auction of four Nerul plots
Cidco has added Rs 298 crore to its earnings from the e-auction sale of four plots in Nerul near Palm Beach Road. The sale of the fifth plot, with the biggest area of over 25,000sqm (over six acres), has been stayed by the National Green Tribunal (NGT) following protests by environmentalists as it partially falls within the CRZ. The rates ranged from Rs 3.2 lakh to 3.9 lakh per sqm.
2022-08-24
Goa: SIT says real land owners not claiming properties
PANAJI: A senior officer of the special investigation team (SIT) — which is probing 40 land-grab cases involving over 100 properties in the state — said that in a majority of the cases being investigated, the real owners have not come forward to claim their properties. The team will identify these owners, the officer said, and submit a report to the state government. The SIT itself has registered 12 first information reports (FIRs) pertaining to land-grab, while 28 FIRs were transferred to it.
2022-08-24
Shimao Group looks to repay $11.8 billion debt over 3-8 years
Cash-strapped Chinese developer Shimao Group has proposed a two-class restructuring plan to offshore creditors to repay $11.8 billion over a period of three to eight years. Shanghai-based Shimao, which first missed a public offshore bond obligation last month, is the first major Chinese developer to kick off negotiations on restructuring terms with creditors.
2022-08-24
Slum dwellers rush to Gujarat HC over Ahmedabad civic body's demolition bid
The inhabitants of slums near Kalupur Darwaza rushed to the Gujarat high court opposing the attempt of the Ahmedabad Municipal Corporation (AMC) to demolish their hutments in order to implement an old town planning scheme in the area. The AMC filed an application on July 7 and urged the HC for an early hearing on the petition filed by the slum dwellers, who have been demanding alternative accommodation if the civic body and government want to implement TP Scheme No. 5 (City Wall Improvement) Section-3.
2022-08-24
Blackstone in talks to buy Delhi's Select Citywalk Mall
Nexus Malls, the Indian retail portfolio arm of the investment firm Blackstone group, is in talks to acquire Delhi's premium mall Select Citywalk which generates the highest sales per square foot in the country. The promoter of Select group has not added any mall to the portfolio in the 15 years of operation of Select Citywalk and with no plan for expansion, the owners want it to be part of REIT (Real estate investment trust).