Daily interesting real estate news
2022-08-24
Draft master plan for Thiruvananthapuram proposes a new airport
The draft master plan-2040 for Thiruvananthapuram city has included a proposal for a new airport. The plan, set to be presented in the corporation council, pitches the new airport near the outer ring road in city’s border and suggests land acquisition through land pooling. It also proposes an integrated terminal for domestic and international services as part of the development of the existing airport.
2022-08-24
Over 350 families don't want to give land for Noida airport Phase 2
The villagers have decided not to take the compensation that is being offered by the government and vowed to protest any attempt to displace them from their land. For the second phase of the Noida airport, about 1,185 hectares of private land will have to be acquired across Karauli Bangar, Dayanatpur, Kureb, Ranhera, Mundrah and Birampur villages. Besides, there are 124 hectares of government land.
2022-08-24
Court denies bail to businessman in Rs 34,615-crore DHFL scam
A Delhi court has denied bail to businessman Ajay Ramesh Nawandar in a Rs 34,615 crore bank fraud case involving Dewan Housing Finance Limited (DHFL), on account of his possible influence on both evidence and witnesses. The court held that the accused was prima facie complicit at some stage in the diversion of the "humongous funds" originating from the loans. The Central Bureau of Investigation (CBI) had earlier conducted searches at Nawandar's premises and recovered a large collection of uber-luxury watches worth crores of rupees, including Rolex Oyster Perpetual, Cartier, Omega, and Hublot, and two paintings worth Rs 33 crore, the officials said.
2022-08-23
Maharashtra government plans to fast-track Dharavi redevelopment, fresh bids likely soon
The redevelopment of Dharavi, Asia’s largest slum spread over 600 acres of prime land in Mumbai, will be a big opportunity for slum-dwellers and will also help urban planners, human rights activists and the state government to transform the face of Mumbai city altogether.
2022-08-23
Drone mapping of land completed in 41% villages of Rajasthan
Drone mapping has been completed in 4,582 (40.53%) villages in Rajasthan under the central government's SVAMITVA scheme, which aims to provide 'record of rights' to village household owners possessing houses in inhabited areas, a ministry of panchayati raj data stated. In all, drone mapping has been completed in 1,63,795 villages across the country. States need to sign a memorandum of understanding (MoU) with SoI for implementation of the scheme. So far, 31 states/Union territories have signed MoUs.
2022-08-23
LIC Housing Finance & Bajaj Housing Finance hike lending rates by 0.50%
Mortgage lenders Bajaj Housing Finance and LIC Housing Finance on Monday announced a 0.50 per cent hike each in their lending rates. The revisions come amid a rising interest rates scenario, which has seen the RBI hiking its key lending rate by 1.40 per cent since May to tame inflation. Bajaj Housing Finance hiked its rate by 0.50 per cent, and the lowest priced product for the salaried and professional applicants will be 7.70 per cent now, as per an official statement.
2022-08-23
Adani Group likely to launch open offer for ACC & Ambuja Cements on August 26
The Adani Group is likely to launch next week an open offer worth Rs 31,000 crore to acquire 26 per cent stake each in Swiss firm Holcim's two Indian listed entities Ambuja Cements and ACC, from public shareholders. In May this year, the Adani Group announced that it has clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion.
2022-08-23
Gurugram: Builders are ditching affordable housing projects
GURUGRAM: Builders in the city are preferring to develop projects on plots under the Centre’s Deen Dayal Awas Yojana (DDJAY) than construct affordable houses. Although both schemes are intended at building affordable homes for the people, developers are increasingly inclining towards DDJAY for a flurry of reasons, including the lack of a price cap. The developers said affordable housing projects were no longer viable for them because the government had locked the price at Rs 4,200 per sqft.
2022-08-23
Over 4,000 unauthorised constructions sealed in Chennai
According to a report shared in a recent meeting by the Works department of the corporation, 2,261 buildings among the 4,224 were issued lock and seal notices in the last fortnight, and 242 were given notices this fortnight. The corporation has also locked and sealed 39 constructions in the last month, while stop work notices have been issued to 2,665 new constructions.
2022-08-23
Nagpur development body allots PMAY flats in quota to general category applicants
The Nagpur Metropolitan Region Development Authority (NMRDA) has considered applicants from general category for various quotas, like physically handicapped (PH), Schedule Tribe (ST), Schedule Caste (SC) and state government officials, for allotment of subsidized flats under the Pradhan Mantri Awas Yojana (PMAY). In another violation of state government norms, NMRDA has engaged a private bank to make the software and conduct the entire process of allotment of flat under PMAY, allegedly without mandatory tendering process.