Daily Real Estate News Digest (31st July 2018)

Blackstone in talks with Singh brothers, Dhillon family to acquire realty assets

Blackstone Group is in advanced talks with Ranbaxy’s Singh brothers and Dhillon family to acquire their real estate portfolio spread over 1 million sq ft office properties for over Rs 1,000 crore

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Haryana RERA strips Orris Infra and The 3C of their rights over prime land

HARERA has not only pulled up realty developers for delaying a project but also stripped them of their rights over prime land. In a matter related to the Greenopolis Project being developed on 47 acres in Gurugram, the authority has restrained both the joint developers Orris Infrastructure and The 3C Shelters from alienation or creation of any kind of rights, encumbrance, sale, transfer on remaining available 10 acres of prime land until further orders.

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With no trust in builders, self-redevelopment takes off in Mumbai

Mhada is set to clear two proposals of Shatabdi society at Kannamwar Nagar, Vikhroli, and Orion society in Charkop to redevelop their properties themselves without a builder. In self-redevelopment, residents themselves reap the construction bonanza earlier enjoyed by the builder. Societies appoint their own architect, contractor and project management consultant to execute the project.

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Bombay HC dismisses ACC's plea challenging validity of Tata's bid for BDD chawl redevelopment

The Bombay High Court dismissed a petition filed by ACC India Pvt Ltd, challenging the validity of an Rs 11,000-crore redevelopment project that was awarded to Tata Projects Limited.

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SC directs Supertech to deposit Rs 7 crore by September 5

The Supreme Court directed realty firm Supertech Ltd to deposit Rs 7 crore by September 5 to refund 111 home-buyers who had taken loans from banks and opted out of its building project in Uttar Pradesh's Noida area. 

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CoWrks inks deals for 4 lakh sq ft of office space

CoWrks has signed deals for 400,000 sq ft of office space across Mumbai, Delhi and Bengaluru to expand its presence in the country.

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PNB Housing Finance shareholders okays foreign investment limit to 74%

The shareholders of PNB Housing Finance have approved proposal to raise the investment limit of foreign investors to 74 per cent from exiting 24 per cent.

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MahaRERA backs flat owners, tells developer to provide all amenities

The MahaRERA has directed a Pune developer Build Supreme Union to provide all the basic amenities to the flat allottees by the end of September.

Maha RERA Secretary To Execute Agreement For Sale On Behalf Of Defaulted Builder

While hearing a complaint, Adjudicating Officer, MahaRERA, said, “In case of respondents’ failure to execute and register the agreement, the Secretary of MahaRERA shall execute and register the agreement on behalf of the respondents at the cost of the complainant.”

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