Daily Real Estate News Digest (24th January 2019)

Blackstone, Xander eye 4.4-million sq ft tech park in Bengaluru

Blackstone Group is in talks to acquire Coffee Day founder V G Siddhartha's 4.4-million-sq ft tenanted office park in a deal estimated at about Rs 2,200 crore. Xander has also initiated discussions for a potential buyout of the park.

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Affordable houses in Uttar Pradesh likely to cost Rs 2 lakh more

The UP government is planning to increase the cost of flats under Pradhan Mantri Awas Yojana by Rs 2 lakh. As of now, each flat under the scheme costs Rs 4.5 lakh.

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RERA panel members bat for builders

Intense lobbying has started within a government-appointed panel to bar homebuyers – under the guise of "removing difficulties" for effective enforcement of the real estate regulation law – from approaching consumer forums and National Company Law Tribunal against erring builders.

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Pimpri Chinchwad development body's draft budget lays focus on low-cost housing

Affordable housing was the focus of the PCNTDA’s Rs 679.89-crore draft budget for 2019-20 presented.

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Property registration in Purandar taluka nose dives 44% in five years

Even after the announcement of a new airport in the taluka. Property registration in the seven villages, where land is supposed to be acquired for the proposed airport, has nosedived by 44% in the last 5 years.

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Forum directs Mohali's Emerging India to pay fine for selling plots without permission

District Consumer Disputes redressel forum UT Chandigarh directed Emerging India Real Assets to pay Rs 35,000 compensation for selling plots before seeking necessary permissions without taking development license from the concerned authority. 

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Awfis opens 15,000 sq ft co-working space in Zirakpur

Awfis has opened a 15,000 sq ft co-working facility in Motia's Royal Business Park, Zirakpur. 

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