Real Estate News India

  NEW DELHI: The SDMC (South Delhi Municipal Corporation) demolished 8 gates of residential colonies in Safdarjung Enclave and Green Park Extension. A day after that the South Delhi civic agency on Saturday said that notices would also be issued to other colonies asking them to follow norms    An official of SDMC said, “We will do a survey of other areas and issue notices to RWAs/residents to obtain permission from the traffic police and NOC from the fire department. If norms are still not followed, gates will be removed from other colonies as well. Also, it will be ensured that the colony gates remain open for the general public during daytime. ” Adding to his statement, “In case of the two neighbourhoods, the matter was discussed with the residents before taking the action. Some residents had earlier complained about the gates remaining closed during the daytime. ” On Saturday, the RWA members of Green Park Extension met the south zone’s deputy commissioner. Neha ...

  AHMEDABAD: Stated by the CAG despite Rs 35 Crore being unsused ,the government has failed to launch a housing scheme for the salt workers and there was lacking and negligence for taking up the welfare schemes. The report further stated that even after long 5 years there is no housing scheme been launched and the salt workers have to build temporary huts or shelters as they stay in remote locations. Adding the adversity they have to face harsh weather conditions as well.   In October 2010, the industries and mines department has laid standard terms of salt leases and it doesn’t state any condition where the lease holders should be providing with proper houses and medical facilities to salt workers. In Surendranagar, due to lack of planning and co-ordination among the departments no water supply scheme was planned.   Various schemes like The Vira-Sanghad Water Supply Scheme in Kutch district and Vallabhipur Zone Water Supply Scheme (VZWSS) and Bhavnagar-Ghogha wat...

  Greater Noida: Sector-18 is been reserved for affordable housing by the Yamuna Expressway and a plot of around 12.35 acres has been selected for the same. Along the highway, multiple industrial clusters are being planned and for long it is felt the need to have proper accommodation for workers. YEIDA CEO Arunvir Singh said, “We will go through the models being followed in other industrial townships. Since many workers migrate to big cities in search of green pastures, rental housing is also gaining traction. We want to create a sustainable township.” Along with this he mentions that they have asked private firms to come ahead to share ideas and design concepts for the affordable units. A take off in the industrial activity is expected by YEIDA in coming 2-3 years. Thus, affordable housing units will be required for people engaged in such units. The authority will share the details of the scheme along with the possession timeline to the firm planned in the area. Some schemes...

  PUNE : With the decision of hike in the maintenance fee by several housing societies made residents upset and unhappy.     Rupali Naik, resident of  NIBM road said, “We have suffered pay cuts and we’re trying to make ends meet in a limited budget. Though the income had reduced, bills have not. From this month, the management committee of our housing society has also increased the maintenance fee by 10%.”   “I thought that the society is overcharging me but I found out that these are additional costs for sanitation that will be added to the maintenance charge. We don’t know whether it will be for the next few months or more. They have said that it is a temporary increase. In addition, we also have to pay for regular checkups for domestic help and security staff,” said by Wanowrie  resident Rahul Agarwal said,   “Living in a housing society is getting very expensive. This year, the rent has been increased because the flat owner has to pay th...

  BENGALURU: A deal worth Rs 700 Crore between Godrej and Century Group took place. The real estate focused private equity arm of Godrej Group i.e. Godrej Fund Management  ( GFM ) bought a land parcel in north Bangalore.  Godrej FM on this new land area would develop a new commercial property of 700,000 Sq.ft that will shake the Bangalore’s property market.     “Century has sold a part of the 2.4 mn Sq. ft office land and is looking to divest some land parcels and raise equity to generate liquidity,” said people aware of the deal. Under the Rs 3,200-crore Godrej Build to Core-I’ (GBTC-I) fund this investment has been undertaken. GFM has two funds—$450 million Godrej Build to Core and a $150 million  Godrej Office Fund . Jointly if both the funds are invested they can develop office assets valuing over $1 billion. “Century is in talks with Godrej Fund to monetise 15 acre land in North Bangalore as part of the land monetisation drive. The f...

  CHANDIGARH: A proposal of Chandigarh Housing Board (CHB) has been rejected by the employees of UT administration to build 11-storey tower under the housing scheme 2008.        As directed by the Central Government, under the scheme different proposals were being explored by the administration for the flats construction. Also, in recent times the administration recalculated the flat rates that are to be build for different categories as directed by the Centre.   The proposal by the board to build 11-storey tower with increased FAR (Floor Area Ratio) and the allottee will only be charged for the flat’s built-up area instead of the total area of the project, which includes land for road and green belt. Dr. Dharmender, General Secretary of UT Government Employees Housing Welfare Society stated that this proposal will delay the project. Along with this, UT plans to construct an 11-storey tower to adjust almost 4,000 allottees will create mess and nu...

  As Ola looks forward for its expansion across the city and consolidate its various offices, has decided to lease over 4.25 Lakh Sq.ft of office space in Bengaluru. This new facility will have over 4000-5000 employees set up and will come up in Prestige Startech in Koramangala, Bangalore.      The leasing will be done for around 15 years with 15% rental escalation every three years. As per the source aware of the deal, “Ola currently operates out of 6-7 offices spread around 2.5 lakh sqft in Bangalore and will now move into one property as it looks to save cost.” Ola will be operating their existing business including financial service at the centre and will also undertake the expansion of the electric mobility business for the firm. Another source person quoted that, “This is the largest real estate office deal post the lifting of lockdown.” Ola yet has not responded to the detailed mail sent by Economic Times, whereas Knight Frank who brokered the d...