Daily Real Estate News Digest (11th June 2019)

Finance minister seeks consultants for sale of PSU land, buildings.

The finance ministry is scouting for consultancy firms for assistance in selling land and building assets of public sector companies as it works towards achieving the stiff sell-off target of Rs 90,000 crore for 2019-2020

ET Realty

Ansal API's director and VP arrested in Lucknow for breach of trust.

People have lodged 85 FIRs against the company’s officials at various police stations in Lucknow since July 2018 in which they allege that company took lakhs of rupees from them but did not give them possession of the property promised at the time of the deal.

ET Realty

Pune: Khadki cantonment board to launch lease renewal drive soon.

The board, in the past, had held multiple rounds of meetings to create awareness regarding lease renewal process, but most property owners did not attend. Neither did they respond to notices from the board. 

ET Realty

MahaRERA rule ensures new builder fulfils promises of previous developer.

 A developer is allowed to transfer his rights and liabilities in an ongoing project to a new developer, provided he has the consent of two-thirds of the allottees and approval of the MahaRERA authority.

ET Realty

Aurobindo bets on city realty with Rs 3k cr plan.

The promoters of India’s second largest pharma company, Aurobindo Pharma Ltd, are taking a realty check with nearly 14 million sq ft of commercial, retail, residential and hospitality projects in the pipeline. 

TOI

Gujarat: Housing loan growth drops to 8.7%, value falls by 15%.

Liquidity deficit, shortage of finance & focus on affordable housing responsible.

DNA

Indian commercial real estate beckons NRIs

Commercial real estate in India is driven by strong economic fundamentals, demand for quality Grade A office space, relatively affordable rents, and the new co-working office space trend in key markets.

CNBC

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