Daily Real Estate News Digest (10th June 2019)

Allahabad Bank’s South Mumbai plot up for third auction.

The second auction by the public sector bank attracted only one bid from a developer.

ET Realty

If flat value and claim is over Rs 1 crore, dispute to be taken to NCDRC.

Maharashtra state consumer disputes redressal commission recently held that the price of a flat will decide which commission has jurisdiction to hear disputes filed under Consumer Protection Act.

ET Realty

Greater Noida: All buildings in Shahberi illegal, to be demolished.

The Authority, however, is yet to decide on whether people staying in these buildings would be relocated or those who have invested in projects in Shahberi compensated. 

ET Realty

Maharashtra: Flats may cost more as buyers to pay input tax.

 

Prices of flats in the state are likely to rise by Rs 200 per square foot with the Confederation of Real Estate Developers Association of India (Credai), Maharashtra, deciding to pass the burden of input tax credit to purchasers.

TOI

Kamal Amrohi's studio to be turned into 21k cr office park.

The Bengaluru-headquartered RMZ Corp, one of the country’s largest office park developers, along with Avinash Bhosale Infrastructure and DB Realty, is set to embark on a 7 million sq ft project valued at nearly $3 billion (roughly Rs 21,000 crore).

TOI

Warehousing sees surge in private equity investment and leasing activity.

 Institutional capital in the sector is estimated to grow to Rs 50,000 crore by 2020, says real estate consultancy Knight Frank India. “Of all the PE investments in India in real estate, 26 per cent have come into warehousing alone.

Business Standard

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