Daily Real Estate News Digest (16th April 2019)

Realtors appeals to housing ministry to cut GST rate.

The Association of Certified Realtors of India has appealed to the housing ministry to reduce the 18% goods and services tax (GST) levied on brokers on the brokerage they earn from builders on each transaction.

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Gaurs Group to invest Rs 350 crore in a residential project at Yamuna Expressway.

According to UPRERA's website, the company plans to complete the project by February 2027. It will have 828 commercial studio apartments with price starting from Rs 15.49 lakh.

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Boeing India arm picks up office space in Bengaluru.

Global aerospace major Boeing’s India arm has picked up over 1.50 lakh sq ft of office space in Bengaluru’s Hebbal locality on a long-term lease spanning over 9 years. 

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Stop uploading land documents, UIDAI tells Telangana, Andhra Pradesh.

Finger prints uploaded at the time of Aadhaar enrolment were captured online in the property documents. These prints were being used by third-party agencies to generate sim cards or land documents.

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PE-backed Shriram Properties gets regulatory nod to float IPO.

Chennai-based real estate developer Shriram Properties Ltd, which counts TPG Capital, Tata Capital, and Walton Street Capital as its private equity investors, has received a regulatory nod to float an initial public offering .


Mumbai housing complex goes green, to cut power bill by 70%

In what is, perhaps, the largest renewable energy project in the city, a housing society in the suburbs is looking at cutting its electricity bill by 70% by generating 700-kW solar energy from its solar plant.


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Lenders with vested interest shouldn't be in CoC: NCLT.

In a decision likely to have major impact on insolvency proceedings, the Chennai bench of the National Company Law Tribunal (NCLT) has said that any lender with vested interest in, or having relations with, a corporate debtor should not be part of the Committee of Creditors in a resolution process.

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