Daily Real Estate News Digest (22nd Nov 2017)










With affordable housing line, Puravankara is a hot property

Purvankara, the only real estate player with presence in over 10 cities, is emerging as a leading affording housing play for investors. Over the next 5-6 quarters, the company will be launching 15 million square feet of real estate in partnership with other companies. 

Economic Times

'Property deals to be linked to Aadhaar'

Union housing minister said property transactions will be linked to Aadhaar soon. Such a move would go a long way in sucking out black money from real estate & also help in the crackdown on benami properties. 

Economic Times

Lodha subsidiary plans $100-m overseas bonds

Lodha is raising around $100-m through an overseas issue of bonds. The proceeds will help repay intra-group debt due from its London projects to Indian operations.  

Economic Times

Amrapali told to deposit Rs. 10 cr for delay in Noida project

A consumer court has ordered builder Amrapali to deposit the compensation payable to 96 home buyers of its delayed Sapphire project in Noida, an amount that estimated to exceed Rs. 10 cr.

Economic Times

Omkar Realtors to invest Rs.1,700 crore on Mumbai housing project

Omkar Realtors will invest about Rs. 1,700 cr over the next 5 yrs to build a new housing project, comprising 1,200 flats in 6 acres at Andheri. The price of the flats will be range from Rs. 87L to 1.6cr, while carpet will vary from 355 to 710 sq.ft. 

ET Realty

Global investors eye tieups with local realtors to build commercial assets

Global private equity pension & sovereign wealth funds eyeing commercial assets in India are now looking to build these assets with local developers given that the demand is far outstripping supply of grade A assets in key markets. Blackstone, GIC, Brookfield & CPPIB have already taken most of the ready & leased assets.

ET Realty

Unsold home inventory to fall in 2018 as builders focus on completion: Fitch

Number of homes unsold is expected to fall in 2018 as most real estate developers will focus on completing their projects to comply with the RERA according to fitch rating. 

ET Realty

BMC allows terrace access to all building lifts

BMC has allowed lifts to travel right till the comman terrace areas of all buildings 

ET Realty

Gr Noida buiders to pay penalty if 15% construction not completed in first three years

As per the new definition the builders of group housing plots who have failed to start construction within the stipulated period of three years or as per the number of years mentioned in the lease deed will be charged a penalty if they have not completed the first phase (15%) of their construction during the stipulated time. Thereafter, penalty will be charged on builder every subsequent year till the project is completed.

ET Realty

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