Daily Real Estate News Digest (22nd August 2019)

Bombay HC temporarily restrains BMC from acquiring gaothans.

The petition stated that there are 189 gaothans. It added when the draft DP was published on February 25, 2015, it was riddled with errors and only 52 gaothans were marked.

ET Realty

Mumbai: Construction allowed up to 10 metres of army depots.

A recent urban development department (UDD) clarification comes as a huge relief to thousands of residents living near two army ordnance depots in Kandivli and Malad.

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Income Tax department raids Oberoi Realty and Capacit'e Infraprojects.

The Income Tax (I-T) Department on Tuesday carried out searches at Oberoi Realty group and its biggest vendor Capacit’e Infraprojects for suspicious transactions, including alleged purchase from dubious entities, receipt of ‘on-money’ and price manipulation and cash deposits during demonetisation period, sources in the know of the development told ET. 

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Clearance for realty projects to soon be reduced to 60 days: Environment Minister.

Speaking at the 15th national convention of the National Real Estate Development Council (NAREDCO), Javedekar said that his ministry intends to reduce the whole process of environmental clearance to real estate project to 60 days, in a few days from now.

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Maharashtra sits on ordinance for property tax waiver for 500 sq ft homes.

To be on the safe side, BMC hasn’t issued property tax bills to around 2.5 lakh buildings, which have homes that fit the criterion.

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Rera to issue recovery notice to builders to retrieve Rs 300 crore to compensate flat owners.

District administration of Gautam Budh Nagar plans to recover over Rs. 300 crore from various builders.


Accel invests in estate, construction materials platform Infra.Market.

Business-to-business marketplace for real estate and construction materials Infra.Market has raised Rs 25.04 crore in a seed funding round from Accel.


Amazon opens biggest global campus in India, can accommodate 15,000.

Spread across 9.5 acres to accommodate over 15,000 employees, the new campus is Amazon’s first own office building and is the single-largest building globally. 


DHFL lenders may be forced to convert their debt into equity: Union Bank.

Resolving the crippled mortgage lender DHFL's over Rs 90,000 crore debt is "not so easy" and banks are considering converting their outstanding into equity.

ET Realty

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