Daily Real Estate News Digest (30th May 2019)

Finance ministry may look at 10-year tax holiday on rental profits earned by builders.

Over the past few years, investments in the country have fallen from 36 per cent of GDP to 29 per cent, and the finance ministry believes that the primary reason for this decline is slowdown in the real estate sector.

ET Realty

Adani Group submits non-binding bid for Jaypee Infratech.

Adani has promised to infuse another Rs 1,000 crore in two equal tranches of Rs 500 crore each to settle claims of workmen as well as secured and unsecured financial creditors, besides meeting cost for insolvency proceedings.

ET Realty

Real estate agent, surveyor arrested in land grab case of 29 properties in Lonavala & Khandala.

Complainant claims that his ancestral properties, on which bungalows and row houses now exist, were grabbed using forged documents that were verified by the sub-registrar’s office. 

ET Realty

DivyaSree Developers eyes student housing market.

 The firm also has three properties coming up in Bengaluru and one in Hyderabad totalling 2,000 beds.

ET Realty

Ascendas-Singbridge plans to double India office portfolio.

The firm may enter new businesses like setting up data centres and co-working spaces.

Livemint

Proptech startups see huge potential in Indian real estate market.

Bengaluru-based proptech startup, Smarter Dharma, is aiming to bring about a change in the construction industry by improving the resource efficiency in the real estate sector.

The Week

Two real estate firms booked for ‘stealing’ flat buyers’ money in Chandigarh.

The FIR was lodged on May 22 on the complaint of the Aarcity Regency Park Apartment Buyers Welfare Association, which has accused the directors and promoters of M/s Aarcity Builders Private Limited and Hisar Real Estate Private Limited of cheating

Indian Express

Consolidation brewing in India's co-working market.

Real estate advisory company CBRE states that India's overall stock of flexible space increased by about 50 per cent, from 10 million sq. ft. in 2017 to about 15 million sq. ft. by the third quarter of 2018 .

Business Today

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