Daily Real Estate News Digest (19th January 2019)

Team Pecan Reams

SC orders forensic audit of Unitech over fund diversions

The Supreme Court directed a forensic audit of real estate giant Unitech and its subsidiary companies to probe alleged financial irregularities and diversion of home-buyers' funds by its promoters and directors.

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Salarpuria buys property from Schneider for Rs 100 crore

Real estate firm Salarpuria Sattva has bought French multinational Schneider Electric’s eight lakh sq ft commercial property for over Rs 100 crore.

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Realtor Kakade Group to sell 50% stake in Lonavala project to Malpani Group

Kakade Group has entered into an agreement with Malpani Group to sell 50% stake in its under-construction luxury resort project spread over 65 acres in Lonavala

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Bengaluru: KIADB revokes building plan approval of Darshita High-Rise

The Karnataka Industrial Areas Development Board has withdrawn the building plan approval issued to Darshita High-Rise to construct a commercial highrise on an eight-acre plot.

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Jaipur development body forms three committees to redress land-related issues

To expedite the pending cases, the Jaipur Development Authority has constituted three committees which would redress land-related issues. The committee would dispose of cases related to land acquisition and its compensation, issuing lease deed of auctioned and allotted plots.

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Draft Pune civic body budget proposes 12% hike in property tax

Municipal commissioner Saurabh Rao proposed a 12% increase in the collective property tax in the Rs 6,085 crore draft civic budget for 2019-20, which was presented before the standing committee

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Central government plans changes in Waqf properties lease rules

A committee which reviewed Waqf Properties Lease Rules 2014 presented its report to Union Minister for Minority Affairs Mukhtar Abbas Naqvi, recommending a slew of changes to bring clarity in rental norms and reduce litigation.

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