Daily Real Estate News Digest (23rd January 2019)

Sun Pharma promoters pledged firm's shares for Suraksha Realty

Suraksha Realty, owned by Sudhir Valia, the brother-in-law of Sun Pharma promoter Dilip Shanghvi, has raised money using Sun Pharma shares as collateral at least on three occasions in the past two years with the latest pledge coming from his firm and another owned by Shanghvi.

ET Realty

Homebuyers in Noida to move high court against sub-lease rule

Homebuyers of Noida, under the umbrella body of Noida Extension Flat Owners Welfare Association, are all set to contest a proposal by the district administration to convert homeowners to sub-lessees of their own property.

ET Realty

Leasing activity up in Kochi: CBRE

CBRE said in a report that Kochi has witnessed a quarterly increase in leasing activity, driven by pharmaceutical and healthcare companies, followed by technology corporates.

ET Realty

RTI activists accused of blackmail by real estate developers to be probed

Police's Crime Branch has been tasked with probing a handful of RTI activists, who have been accused of blackmailing, and abusing provisions of the law, to extort huge amounts of money from real estate developers in the Mumbai Metropolitan Region.

Mid Day

NRI accuses builders of cheating him of Rs 6.5 crore

A Sharjah-based businessman with roots in Ahmedabad approached Vejalpur police station after a group of real estate developers allegedly cheated him of Rs 6.47 crore over five years.

Times of India

RERA seeks action against engineer for false documents

At a time when the Tamil Nadu Real Estate Regulatory Authority is cracking down on erring developers, the investigation into an incomplete housing project has revealed that a structural engineer had issued false certificates to keep the project outside the purview of the real estate regulator.

Times of India

Government offices to distribute affordable housing forms

Application forms for buying flats in privately developed societies under the affordable housing scheme will be available from government offices. This was decided by Haryana Real Estate Regulatory Authority after it received complaints about malpractices during allotment of flats under the scheme.

Times of India

Realty sector to bulk up in Global Investors Meet; office space in focus

This time, the Global Investors Meet will also showcase the realty sector in Tamil Nadu. Official sources claim the government has managed to woo Rs 25,000 crore worth investments in the realty sector alone.

Indian Express

Residential realty inventory declines 9.5 per cent in November 2018: Report

Real estate inventory in the residential segment on a pan-India basis declined 9.5% year-on-year to 1.3 billion sq ft in November 2018 as developers cut down on new launches and sales improved.

Financial Express

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