Daily Real Estate News Digest (22nd June 2018)

UP govt likely to complete land acquisition process for Jewar airport in two months

The Uttar Pradesh government has assured that the process of getting land will be completed in two months time and that the bids for PPP (Public Private Partnership) will be invited in October.

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Odisha announces amnesty scheme to regularize unauthorized buildings

The district administration said that the new circle rates that will be rolled out from August 1 will not be applicable on any of the old projects. In order to generate more revenue through sale and purchase of land, the district administration is all set to increase circle rates by 10 to 25%.

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Gurugram civic body to e-auction properties not paying tax

MCG will be conducting e-auction for properties for which taxes have not been paid despite the corporation issuing several notices in that regard.

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HNIs moving away from equities to real estate and debt

HNIs are gradually shifting away from the equity market, show the latest data from Association of Mutual Funds of India (AMFI). According to market trackers, fixed maturity instruments and real estate are back on the radar of these investors.

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Co-working spaces demand continues to rise, set to triple in 3 years

The increasing demand for flexible and co-working spaces is prompting higher absorption of the commercial real estate. While co-working companies took up 1.8 million sq ft in 2017, the first quarter of 2018 itself has exceeded the annual tally of 2017.

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No RERA registration, no finance in Karnataka

Karnataka RERA has found an effective way to ensure that developers don’t sell projects that are not registered with RERA. Cut off all sources of formal funding till the project is registered with the portal, showing all approvals and compliances and the industry toes the authority line. 

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Registration of properties in Tamil Nadu may soon need Aadhaar

Property registrations in Tamil Nadu may no longer be facilitated without Aadhaar card as the state government is mandating the 12-digit unique identification number for the purpose.

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Pune development body gives four months' extension for regularisation of illegal structures

Pune Metropolitan Region Development Authority (PMRDA) has extended the deadline for regularisation of unauthorised structures under its jurisdiction by four months till October.

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Online land registrations in Punjab from June 22

In a major push to people-friendly initiatives, the Punjab government is set to launch National Generic Document Registration System (NGDRS) which will provide online land registration facility at all sub-registrar offices of the district from June 22 onwards.

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Indiabulls Real Estate to raise Rs 480 crore via debentures

Indiabulls Real Estate plans to raise Rs 480 crore through issue of debentures on private placement basis. 
 

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West Bengal government to lauch a new housing scheme 'Nijoshree'

The West Bengal government will come up with a housing project 'Nijoshree' to provide homes to people whose monthly incomes are not enough to purchase accommodations near the city.

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