Daily Real Estate News Digest (9th September 2019)

Mumbai collector demands over Rs 35 crore to renew leases of three Parsi Baug.

Land leases of three landmark Parsi enclaves- Rustom Baug and Jer Baug at Byculla, and Ness Baug at Nana Chowk-that came up in the early part of the 20th century have expired.

ET Realty

Real estate relief package likely to focus on stalled projects.

The real estate sector relief package expected this week may include solutions for stalled housing projects for the stressed home buyers where projects could not be completed due to funding issues.

India Today

Insolvency proceedings start against Raheja Builders.

The National Company Law Tribunal (NCLT) has begun insolvency proceeding against the real estate firm Raheja Developers. As a part of the process, a public notice has been issued informing creditors to submit their claims against the NCR-based firm. 

Outlook


Realty firm to invest Rs 730 cr in state.

Punjab-based realty firm SBP Group has signed agreements with the state government to invest Rs 730 crore for developing housing and commercial projects in the hilly state.

The Tribune

Rajasthan government to shelve UD tax on small plots.

With an eye on the upcoming municipal elections, the state government has decided to shelve the proposal of levying urban development (UD) tax on plots smaller than 300 square yards, which were exempted till now.

ET Realty

Illegal land sale soars in Jewar airport's vicinity.

Flights taking off from the Jewar international airport may be years away, but land mafia in nearby villages are flying high already.

ET Realty

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