Daily Real Estate News Digest (22nd September 2018)

Registration of sale deeds stopped in Jalandhar

After the sub-registrar stopped registering sale deeds of properties in the city, three Congress MLAs of Jalandhar have taken up the matter with chief minister Amarinder Singh. The row erupted following a list of unauthorized colonies prepared by the Jalandhar municipal corporation.

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Goa govt gives 30 more days to regularise structures

The state government has notified the Goa Regularisation of Unauthorized Construction Act (amendment), which gives individuals 30 additional days to apply to regularize their unauthorized constructions.

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MahaMetro and PMRDA seek share in revenue from building nods

MahaMetro and PMRDA have sought share in the revenue generated from building permissions along the Metro corridor. 

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CPPIB, Prestige may team up for commercial rental platform

Canada Pension Plan Investment Board is in advanced talks with Prestige Estates Projects to set up a $250-million commercial assets rental portfolio platform, said two persons familiar with the development.

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Mumbai: 118 Backbay buildings have no legal right over land

A total of 118 buildings in the city’s toniest address — the Backbay reclamation area, extending from Nariman Point and Cuffe Parade to Girgaum Chowpatty — have got no legal right over the land. None of them has signed a lease agreement with the government.

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Anti-Profiteering authority holds builder guilty of profiteering for not passing ITC benefit

The National Anti-Profiteering Authority has pulled up Pyramid Infratech for profiteering and not passing on the Input Tax Credit to homebuyers in the company’s affordable housing project.

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MahaRERA orders Soham Estates to pay interest for delayed possession

The Maharashtra Real Estate Regulatory Authority has directed the Soham Estates to pay interest to 8 flat buyers from the agreed date of possession till the date when the occupation certificate was obtained. The earliest agreed possession date was in December 2016, and latest in December 2017.

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Haryana govt notifies regularisation of 535 colonies in state

Haryana CM Manohar Lal Khattar approved the notification of 535 different colonies under the Haryana Management of Civic Amenities and Infrastructure Municipal Areas (Special Provisions) Act, 2016 paving the way for provisioning of major essential services in these colonies. 

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Mahindra Lifespace eyes stressed realty assets

Mahindra Lifespace Developers is looking to acquire distressed real estate assets across key property markets, especially the Delhi-National Capital Region. This would be in addition to the company’s growth strategy to focus on both greenfield and stressed assets in mid-premium and affordable segment to cater to end users.

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Nashik: MIDC serves notices to firms for letting out plots illegally

MIDC has slapped show-cause notices to around 80 units at Satpur for allegedly subletting their industrial plots for commercial use without sanction.

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Sebi slaps Rs 50 lakh fine on Karmbhoomi Real Estate, five directors

Sebi has imposed a fine of Rs 50 lakh on Karmbhoomi Real Estate and its five directors for collecting money from investors through illegal collective investment schemes.

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Land registrations declined by 50% in Kochi in August

Several parts of Ernakulam were ravaged by floods in August and the district witnessed a 50% decline in property registrations compared to the same period last year.

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