Daily Real Estate News Digest (24th November 2018)

Now, RERA must to register new property in Karnataka

It is now illegal to buy or sell property that is not registered with RERA. The state government has banned all sub-registrar offices in the state from registering flats or plots — whether an ongoing or new project — if buyers/sellers do not quote a RERA registration number.

ET Realty

Dharavi: Maharashtra government invites tenders to redevelop Asia's biggest slum

After nearly one-and-half decades of deliberations and three attempts to redevelop Dharavi, one of the largest slums of Asia, the government of Maharashtra has invited global tenders to kick-start the process.

ET Realty

Noida: Nodal officer to hold meetings every Wednesday to resolve builder-buyer disputes

The Greater Noida Industrial Development Authority has appointed its additional CEO KK Gupta as a nodal officer for resolving disputes between the homebuyers and developers. The officials will hold meetings every Wednesday.

ET Realty

Two-week pollution halt in NCR to cause two-month construction delay: Credai

Constructions at building sites, which were stopped between November 1 and 15 to control pollution, have delayed completion schedules by at least two months, Confederation of Real Estate Developers Association has claimed.

ET Realty

Goa government notifies fees to change zone of non-settlement land

The notification not only mentions rates for the change of zones from orchard land to commercial (settlement) but also mentions that those lands shown as settlement zones in Regional Plan 2001 but marked as No Development Zones in RP 2021 can be changed to settlement zones for no fee.

ET Realty

Jewar Airport: Uttar Pradesh government okays Rs 1,260 crore for land acquisition

The Uttar Pradesh government has approved a fund of Rs 1,260 crore for acquisition of land for the proposed Jewar airport in Gautam Buddh Nagar.

ET Realty

Hyderabad see upsurge in residential sales in Jan-Sep 2018: Report

Residential sales in Hyderabad has grown by 277% among seven major markets since January to September 2018 as compared to the same period last year.

ET Realty

Chandigarh admin clears fire safety charges for commercial properties

Thousands of commercial property owners will have to pay fire safety charges to the municipal corporation, with the UT administration on Wednesday approving its proposal.

ET Realty

Kerala HC orders probe of real estate fraud by Thiruvananthapuram's Samson and Sons Builders

The Kerala High Court has ordered crime branch to take over the probe into alleged real estate fraud by Thiruvananthapuram-based Samson and Sons Builders and Developers Pvt Ltd. Samson and Sons, which had over 15 projects in Thiruvananthapuram, had allegedly cheated over 2,000 investors to the tune of Rs 130 crore.

ET Realty

West Bengal rejigs Kolkata civic body property tax rules, citizens to reap benefits

The state assembly on Thursday passed the proposal to allow the KMC assessment-collection department to offer a 10% exemption on property tax to those who have crossed 60.

ET Realty

Builders told to pay Rs 13 Lakh for giving flat late

Realtors Singla Builders and Promoters have been directed to refund money paid to them for a housing unit for failing to give possession on time. They have also been directed to pay the money paid as rent by the complainants for accommodation.

Times of India

RERA slaps Rs10 lakh fine on erring firm

The Real Estate Regulatory Authority-Bihar has imposed a penalty of Rs 10 lakh on Eastern Estate Construction and Developers Pvt Ltd for advertising its projects on its official website without registering them with the Authority.

Times of India

JLL says home sales up 40% in top cities, other analysts disagree

Home sales have gone up 40 per cent in the top seven cities in the first nine months of this year on yearly basis, a report by property consultant JLL said.

Business Standard

Report puts Kakkanad at the centre of real estate boom

Residential stocks are getting concentrated at Kakkanad, which is home to nearly 35 per cent of apartments in the metro city, according to a survey, ‘Unravelling Kerala Real Estate, A Study on Kochi, Thiruvananthapuram and Thrissur,’ carried out recently by JLL.

Indian Express

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