Daily Real Estate News Digest (28th February 2019)

Haryana assembly passes PLPA bill

The Haryana Assembly passed amendments to an act, opening up thousands of acres to real estate and other non-forest activity that were protected under it for over a century.

ET Realty

Delhi govt allocates Rs 3,913 crore for housing and urban development

The Delhi government allocated Rs 3,914 crore for the housing and urban development sector in the 2019-20 budget, with Rs 1,600 crore is proposed for development works in unauthorised and resettlement colonies.

ET Realty

Kerala: 231 families get new houses under Care Home project

As many as 231 families, who lost their houses in the August floods that battered the state, were given newly-constructed houses by the government.

ET Realty

Around 35 commercial buildings violating rules sealed in Kodaikanal

Officials of Kodaikanal municipality sealed as many as 35 commercial buildings which were constructed in violation of building rules in the tourist town. With 220 more buildings to be sealed, officials said the work will be completed in five to six days.

ET Realty

ANAROCK sells residential inventory worth Rs 22,000 crore since 2017

Property consultant ANAROCK has announced selling residential inventory worth Rs 22,000 crore through its 300 mandates across India and in the Gulf region till date.

ET Realty

Shriram Properties, Kotak Fund partner for Kolkata affordable housing project

Shriram Properties has entered into a partnership with Kotak India Affordable Housing Fund-I for development of next phase of its affordable housing project Shriram Grand 2, as part of Shriram Grand City at Uttarpara in Kolkata.

ET Realty

India Ratings maintains negative outlook on real estate sector for FY20

Ind-Ra has kept a stable outlook for players in tier-I residential real estate, commercial office and retail property development and operations and a negative outlook for the rest.

ET Realty

I-T dept raids realtor in Hyderabad, ‘finds deals’ tied to Andhra Pradesh CM’s kin

Income Tax department conducted searches on Sandhya RealtorsPvt Ltd and Sandhya Hospitality Pvt Ltd and found crucial real estate and land sale transactions by family members of Andhra Pradesh chief minister N Chandrababu Naidu.

Times of India

2 held for RERA website con

Police have arrested two men in connection with a URL that was deceptively similar to that of the Gujarat Real Estate Regulatory Authority website. In this case of typosquatting, an attempt was made to dupe hundreds of gullible promoters.

Times of India

Real estate sector to touch $1 trillion by 2030, contribute 13% to GDP by 2025: Report

According to a recent report presented by Colliers Research, the real estate sector in India is expected to reach USD 1 trillion by 2030 from USD 120 billion in 2017. The report said that the real estate sector would also contribute 13 % of the country’s GDP by 2025.

Zee Business

25% of 132 Noida housing projects unviable

UP Rera said that about 25% of the 132 housing projects, in Noida and Greater Noida, which had been taken up for an audit to ascertain project status, have “serious issues”. UP Rera is contemplating legal action against builders whose projects fall in this category. They will de-register these projects as a punishment if the builders do not address the issues

Hindustan Times

Kotak Realty bets Rs 350 crore on stressed property deals over a year

Kotak Realty Fund is looking to acquire stressed loans with underlying real estate, with an aim to turn them around. This is at a time when the sector is passing through one of the worst phases of a liquidity crunch.

Business Standard

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