Daily Real Estate News Digest (24th August 2018)

Gurugram bench ruling to bring 200 more Haryana projects under RERA

At least 200 real estate projects in Haryana, which got exemptions from registration with the Rera on the basis of their developers applying for completion or occupation certificates before the Haryana rules came into effect, will now have to be registered with the regulator.

ET Realty

Liquidator can sell attached property: NCLT

India’s dedicated bankruptcy court has sought to remove legal impediments to liquidation or loan-recovery proceedings by setting aside property attachment claims of state-run utilities or operational creditors that have not been paid their dues by bankrupt private-sector borrowers.

ET Realty

Flat delay, cheque bounce put Gurugram-based ALD Infratech in dock

A court has declared a construction firm a proclaimed offender for failing to deliver a project on time and for not honouring cheques it had given to homebuyers as a refund. The court has also directed the bank branch to attach the developer’s bank account

ET Realty

Industrial plots in Mumbai region opened for commercial and residential development

The state urban development department has opened large tracts of industrial land in the Mumbai Metropolitan Region (except Mumbai) for residential and commercial development.

ET Realty

HSIIDC directs DLF to complete Manesar project affected by land scam

Haryana State Industry and Infrastructure Development Corporation have directed DLF to complete construction at DLF Express Greens, located on a portion of the land affected by the Manesar land scam.

ET Realty

Navi Mumbai: Builder cheats 15 flat buyers of Rs 2.8 crore, booked

The builder, N K Bhupeshbabu, did not complete the project for seven years despite promising to give possession in 2015. As per the FIR, Babu has cheated 15 home buyers of Rs 2.83 crore.

ET Realty

PWD to demolish 170 illegal structures in Kullu

Not just hotels but a large number of unauthorized residential houses can be demolished in Kullu district. In a drive to remove encroachments along Kullu-Bhuntar highway, the revenue department has identified 170 buildings on government land which shall be demolished very soon.

ET Realty

AltF CoWorking acquires Daftar India

AltF CoWorking has acquired Noida-based Daftar India, a shared space provider. With this acquisition, AltF CoWorking will add 14,000 sq ft and over 250 seats to its existing capacity.

ET Realty

I-T raids on realty company lead to CM’s adviser

During the search conducted by a 60-member team at 35 properties in Bengaluru, four in Mumbai and one each in Chennai and Hyderabad, officials allegedly found transaction details linking Assetz to HB Sunil, a chartered accountant, who, incidentally, is an adviser to chief minister HD Kumaraswamy’s family and private businesses.

Times of India

ATS group sells 975 flats worth Rs 1000 cr in three months

ATS group has sold 975 flats worth Rs 1,000 crore during the last three months on improved housing demand

Times of India

Mahindra Lifespace launches 5th residential project in Chennai

Mahindra Lifespace, launched its fifth residential project, Lakewoods, within the precincts of the Mahindra World City on the outskirts of the city.

Business Line

Kolte-Patil Developers Launches Oro Avenue at Its Life Republic Township Project in Pune

‘ORO Avenue’, one of the finest and prominent sectors in the heart of Life Republic, provides an attractive value-for-money proposition to buyers wherein they can avail a 1 BHK at Rs. 30.20 lakhs and 2 BHK at Rs. 46.35 lakhs all inclusive. The sector comprises of 22 storey, high-rise towers with more than 70% area free of building footprint.

Business Wire

Director of Noida-based builder's firm arrested over pending stamp duty

Satinder Bhasin, of the Mist Avenue Private Limited, was arrested and the office of the group in Sector 143 seized after the firm allegedly failed to clear a stamp duty of Rs 12 lakh.


Residential projects worth Rs 4.6 trillion stuck across major cities

India's residential sector has witnessed a slowdown in the recent years, and this has led to projects worth Rs. 4.6 trillion or 4.64 lakh crore stuck in a state of uncertainty, according to a property consultant and research firm.

IB Times

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