Daily Real Estate News Digest (28th July 2018)

Jolt for residents in row over society registration

In a setback to residents of a housing complex in Bhandup days after their appeal was upheld, the assistant registrar on Thursday issued a fresh order in favour of the developer. The order allows the developer to form the co-operative society within 21 days and if he fails to do so, residents can then form the society.

ET Realty

Paytm buys 10 acres land for over Rs 120 crore in Noida for mega campus

Paytm has purchased 10 acres of land in Noida to establish a new headquarters to accommodate its staff, in one of the largest real estate deals by an Indian consumer internet startup in recent times.

ET Realty

Builders in Maharashtra tweak agreements to flout open space norms

In a clear departure from the provisions of Real Estate Regulations Act, 2016, many developers have uploaded “agreement pro formas” on the authority’s website not in consonance with the norms.

ET Realty

MoEF okays forest land diversion for Pushpak Nagar development near Navi Mumbai airport

In what may be considered as a major step in the development of townships around the Navi Mumbai international airport, the Ministry of Environment and Forest has accorded approval for diversion of 22.55 hectares of forest land required for developing Pushpak Nagar.

ET Realty

Activists allege irregularities in allotment of flats in redevelopment of cessed buildings

MRRB official got allotted flat to her daughter Pragati Kuttapan. As per procedure, this flat should have been advertised, applications should have been invited from residents of the transit camp, if the original tenant is dead then succession certificate should have been asked by authorities, but the entire process was bypassed and prime location flat admeasuring 430 sq.ft.

ET Realty

Real estate firm told to pay Rs 86.38 lakh to four clients

The state consumer disputes redressal forum directed Chandigarh Royale City Promoters Private Limited to pay Rs 86.38 lakh to four complainants for failing to share plot buyer's agreement after receiving a huge amount and not handing over the plots.

Times of India

Real estate sales fall despite price dipping to record low

For home buyers, it has never been this attractive. Price of residential properties in Kolkata has dipped the lowest this decade, driven by discounts offered by developers faced with mounting inventory and low sales velocity. The slide in property price since December 2016 has, however, failed to generate higher sales.


Times of India

Hyderabad realty sector sees positive growth

Hyderabad is showing significant signs of growth in the real estate sector. The city has witnessed a healthy 15 per cent jump in office space transactions in the first half of 2018 (January-June) at 2.69 million sq ft compared to 2.33 million sq ft registered in the corresponding period of the previous year.

Telangana Today

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