Daily Real Estate News Digest (13th May 2019)

WeWork's starry valuation dazzles landlords, reaffirms doubters.

To its doubters, WeWork is another unprofitable unicorn they question has the ability to flourish in anything other than a hot economy.

ET Realty

Commercial land prices in Hyderabad see 20-30% jump.

Commercial land prices in Hyderabad have gone up by at least 20-30% in the last one year as builders and institutional investors are making a beeline to invest in office space in the city.

ET Realty

NBCC seeks waiver of Rs 40,000-crore claims on Jaypee Infratech.

NBCC has made these claims under the header – Reliefs and Concessions – in its revised bid that it had submitted to the Committee of Creditors (CoC). 

ET Realty

Redevelopment on 33 acre land in heart of Mumbai may get stuck.

The federation decided to call off the tender for redevelopment that was awarded to Keystone Realtors (Rustomjee), citing delay in the work as reason.

DNA

MahaRERA still have Jurisdiction over projects that have an OC.

ruling in favour of the home buyer, the authority stated that it has jurisdiction over an ongoing project even after an Occupancy Certificate was issued to the developer, adding that it can adjudicate the dispute despite an arbitration clause in the agreement.

Mumbai Mirror

Logistic major D B Schenker aims to double warehousing space to 7 million Sq.ft.

European logistics major D B Schenker aims to nearly double warehousing space to 7 million square feet in India in three years as it sees growing demand from corporates for such facilities, especially after the GST implementation 

TOI

Logistic firm Bhumika enters real estate market, to invest 300 Cr. in first project in udaipur.  

The company is developing over 10 lakh sq ft area in the first phase of this project named Urban Square. 

TOI

Third illegal beach bungalow starts crumbling at Alibaug.

About two months after the Supreme Court threw out his plea against a Bombay high court (HC) order, businessman Ashok Mittal started demolishing illegal portions of his bungalow, which is of palatial proportions

Et Realty

Leave a Reply

Your email address will not be published. Required fields are marked *