Daily Real Estate News Digest (22nd June 2019)

Mumbai: Lone bidder Rustomjee offers Ariisto lenders Rs 250 crore upfront.

Realty developer Rustomjee Group has emerged as the sole bidder for Ariisto Developers, one of the first Mumbai based builders to be admitted by the National Company Law Tribunal (NCLT) for undertaking insolvency proceedings.

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Esplanade Mansion area barricaded by MHADA in Mumbai.

Maharashtra Housing and Area Development Authority (Mhada) has barricaded the area around the 156-year-old Esplanade Mansion at Kala Ghoda to restrict entry of anyone into the iconic structure.

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Mumbai slum-dwellers fear Dharavi redevelopment.

Residents of Asia's most famous slum fear a multi-billion-dollar plan to transform the area into a Singapore-like enclave featuring luxury skyscrapers and shopping malls will destroy its vast informal economy.. 

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Mumbai: Runwal-Cablecorp buys 8-acre Cable Corporation land.

 Runwal is planning a mixed-use development and total developable area will be around 1.5 million sq ft.

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Karnataka government eases rules for big-ticket realty projects.

The previous ceiling was 12,000sqm (nearly 3 acres). This is a sanction that was obtained from the BDA, which checks to see, among other things, if the layout has earmarked spaces for amenities.

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Two crore houses to be built in villages under PMAY in three years: President.

Addressing the joint sitting of both Houses of Parliament, the President said women are being given priority in the registration of houses being built under the PMAY in the rural areas.

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