Daily Real Estate News Digest (30th December 2019)

Maharashtra government's guidance sought for registering projects with OC

As per the Real Estate (Regulation and Development) Act (Rera), projects that were issued occupancy or completion certificates prior to the implementation of the act do not need to register with MahaRERA. The property registration department, however, has been insisting on registering such projects with MahaRERA as per the notification issued by the previous government in September last year.

ET Realty

Mercedes-Benz leases 3.5 lakh sq ft in Bengaluru for India R&D centre

The world’s largest luxury carmaker Mercedes-Benz has picked up 3.5 lakh sq ft of commercial space in Bengaluru’s eastern peripheral area of Brookefield on a 15-year longterm lease. The company is expected to lease 1 million sq ft here including the second tranche of 4 lakh sq ft next year.

ET Realty

BMC issues stop-work notice to SBUT on Bhendi Bazaar cluster redevelopment

The BMC has issued a stopwork notice to the Saifee Burhani Upliftment Trust (SBUT) for initiating construction work on one of its proposed seven clusters, without the mandatory commencement certificate from the building proposal (BP) department.

ET Realty

Madhya Pradesh to raise funds from auction of land parcels

 The Madhya Pradesh government, which has sustained its economy by auctioning key minerals, now plans to sell valuable land worth almost a billion rupees belonging to the Public Works Department (PWD) in Bhopal, Indore and Jabalpur to breathe new life into the drained treasury.

ET Realty

MahaRERA takes action against 21 developers

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken suo moto action against 21 real estate developers who have not renewed their Real Estate (Regulation & Development) Act registration, and directed them to submit the list of buyers who have booked flats in their project under Section 7 and 8 of RERA for further action

Mumbai Mirror

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