Daily Real Estate News Digest (23rd July 2018)

Mapletree Investments, GIC, Blackstone & Brookfield eye Chennai's SP Infocity

Mapletree Investments, GIC of Singapore, Blackstone and Brookfield Asset Management have placed separate bids to acquire SP Infocity, a 2.7-million-sqft office park in Chennai, for an estimated Rs 2,500 crore.

ET Realty

Emaar India buyers protest over a nine-year delay in delivery of homes

Buyers of the Emerald Hills township staged a protest outside the office of developer Emaar India near Sikandarpur on Saturday, demanding completion of their long-delayed homes.

ET Realty

Increased FSI may boost redevelopment of old Thane buildings, feel experts

Chief minister Devendra Fadnavis's announcement to grant 2 floor space index for the redevelopment of buildings in old Thane has brought cheer for thousands of residents here who claim it will help incentivize the initiative and not burden the residents. 

ET Realty

Phoenix Mills inks JV for retail development in Ahmedabad

The Phoenix Mills has entered into a 50:50 joint venture with the Ahmedabad-based BSafal group to acquire a 5.16-acre land located on Sarkhej – Gandhinagar Highway in Thaltej, Ahmedabad.

ET Realty

Nashik civic body administration rejects GB’s decision to roll back property tax hike

The civic administration said it would not accept the resolution passed by the Nashik Municipal Corporation’s general body earlier in the week that rolled back the property tax hike. The general body curtailed the tax hike of at least 40% proposed by the administration to 18%. Also, farmlands were given respite by the general body.

ET Realty

Architects peeved with online building plan approval system of Nagpur civic body

The Nagpur Municipal Corporation (NMC) is planning to roll out online system ‘Building Plan Management System’ (BPMS), which will ease out the strenuous process of building plan sanctioning.

ET Realty

Housing sales: Noida, Greater Noida on top in NCR; Gurgaon down by 52% in April-June

Housing sales in Noida and Greater Noida rose by 51 % to 5,715 units during April-June period but fell by more than half in Gurgaon to 1,922 units, according to PropTiger.

Financial Express

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