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Full Disclosure

Balaji Rao
Full disclosure is integral to any investment. More so with real estate where the investment is significant. Wilfully withholding information during negotiations is illegal and immoral. Sellers should avoid it at all costs. Instead, they must disclose all vital information concerning the property during the listing itself. Brokers must ensure they are familiar with all property-related details and can guide buyers on the potential shortcomings if any. As a buyer, we must become smart and vigilant. It should become common practice to demand accountability from the broker and accurate information from the seller. When the demand is overwhelming, the supply will have to follow....
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Thiruvananthapuram Metro project advances with plans for 42-km LRT system

Vidhi Sangoi
The Thiruvananthapuram Metro, a 42.1-kilometre light rail system with 37 stations, is set to revolutionize public transport in Kerala's capital city. With two primary lines connecting key hubs like Technocity, Kazhakoottam, and Karamana, the metro aims to tackle traffic congestion, reduce pollution, and offer a modern commuting experience. Approved at a cost of INR 4,219 crore, construction begins in 2025 with completion expected by 2030. Managed by KRTL, the metro features modern amenities and seamless integration with existing transport networks. This transformative project promises to enhance connectivity, drive economic growth, and position Thiruvananthapuram as a model for sustainable urban development....
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NCRTC invites bids for commercial space on Delhi-Meerut RRTS corridor

The National Capital Region Transport Corporation (NCRTC) has invited bids to lease 45,469 square meters of commercial space across six stations along the Delhi-Meerut Regional Rapid Transit System (RRTS) corridor. This initiative is part of the larger 30,000-crore RRTS project aimed at improving connectivity between Delhi and Meerut. The leased spaces will host various facilities like healthcare units, co-working hubs, fitness centres, and mobility services. NCRTC also plans to integrate parking facilities with commercial spaces, contributing to the project's financial sustainability. Real estate experts anticipate the RRTS will boost property markets in satellite towns such as Ghaziabad, Modinagar, and Meerut, driving regional economic growth....
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India's green building footprint reaches 10.25 billion sq ft as sustainable real estate gains traction

Vidhi Sangoi
India's sustainable real estate sector is reshaping urban landscapes amidst rapid urbanisation, with green building space growing from 20,000 sq ft in 2001 to 10.25 billion sq ft by 2023. The Indian Green Building Council (IGBC) and GRIHA certifications drive adoption, offering up to 50% energy and 30% water savings. Landmark projects like Infosys' Net Zero Energy Buildings and DLF Cyber City's water recycling systems showcase the shift. Residential complexes like Tata Housing's Serein and commercial hubs like Embassy Office Parks REIT reflect investor confidence in ESG-compliant properties. Beyond cost efficiency, green buildings enhance social well-being, signalling a sustainable urban future....
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SVAMITVA Scheme to distribute 58 lakh property cards across 12 states and UTs

The SVAMITVA Scheme, launched in 2020, is set to distribute over 58 lakh property cards across 50,000 villages in 12 states and union territories, with Prime Minister Narendra Modi addressing the virtual event. The initiative aims to provide a "Record of Rights" to property owners in rural India, specifically in Village Abadi areas. Union ministers will also attend local events in various states to distribute property cards. The scheme has made significant progress, with 2.19 crore property cards finalized so far and 92% of drone mapping completed. The goal is to complete the program by 2026....
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Infrastructure

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Terminal Investment Ltd to invest INR 20,000 crore in Vadhvan Port, Maharashtra

Switzerland-based Terminal Investment Ltd (TIL) will invest INR 20,000 crore in developing Maharashtra's Vadhvan port, in collaboration with the Jawaharlal Nehru Port Authority (JNPA). A special purpose vehicle, Vadhvan Port Project Ltd (VPPL), jointly owned by JNPA (74%) and Maharashtra Maritime Board (26%), has been established for the project. Strategically located on the Arabian Sea, the port will enhance cargo efficiency, reduce logistics costs, and accommodate larger vessels. The initiative includes a skilling program for local youth and aligns with India's Sagarmala Project, emphasizing innovation, sustainability, and economic growth in the maritime sector....
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Law & Policy

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Andhra Pradesh eases building rules, allows 5-story projects without approval

The Andhra Pradesh government has introduced new regulations permitting builders to construct up to five-story buildings without prior town planning approval. Builders can begin work upon submitting applications and paying fees to municipal bodies, streamlining the process and addressing delays in obtaining permits. While offering flexibility, the policy enforces strict adherence to submitted plans, with penalties for deviations. Municipal commissioners are empowered to issue stop-work orders for significant violations. The move aims to boost the construction sector amid rising costs and labor shortages, potentially driving economic growth and setting a precedent for building regulation reforms in other states....
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Karnataka High Court denies land restoration to SC grantees citing 12-year delay

The Karnataka High Court has upheld the denial of land restoration to the heirs of Lakshmaiah, a Scheduled Caste member who was granted land in 1981, citing an unreasonable 12-year delay in seeking restitution after its transfer in 1995. The court emphasised the importance of timely legal action, referencing precedents like the Nekkanti Rama Lakshmi case, which rejected a 25-year delay in land disputes. While the Karnataka SC/ST Act was recently amended to remove time limits for land restoration, this ruling highlights ongoing challenges in balancing the rights of original grantees with those of subsequent owners. The decision underscores the need for timely legal recourse in property disputes....
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Uttar Pradesh government to streamline township handovers ensuring better services for residents

The Uttar Pradesh government is working to address long-standing delays in township handovers from private developers to local civic bodies. Currently, residents face poor maintenance and dual charges due to incomplete transfers. A meeting in Lucknow with representatives from cities like Ghaziabad and Kanpur will focus on standardizing the process. The Ghaziabad Development Authority's recent handover of Indirapuram after a 7-year delay highlights the challenges. A planned committee will develop SOPs to ensure smoother transitions, reducing resident burdens and improving services. This initiative aims to enhance transparency, accountability, and management across townships statewide....
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Hubballi-Dharwad Municipal Body to inspect Aryabhata Tech Park over land misuse claims

The Hubballi-Dharwad Municipal Corporation (HDMC) has launched an inspection of Aryabhata Tech Park in Navanagar following complaints of improper land utilization by ten IT-BT companies. Spread across 26 acres, the park was allotted in two phases for industry development, but concerns have arisen over companies not meeting investment and employment commitments. A house committee, including senior HDMC officials, will investigate compliance with operational timelines and job creation goals. Companies like Diksha Technologies and Ion Idea Enterprises Solutions have faced scrutiny for underutilizing or returning land. HDMC aims to ensure accountability, improve infrastructure, and attract more companies to position Hubballi as a tech hub....
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Telangana RERA fines Paradise Peak INR 11.5 lakh for failing to register its real estate project

The Telangana Real Estate Regulatory Authority (TG RERA) has fined Paradise Peak Private Limited INR 11.5 lakh for failing to register its 12-acre layout project, violating the Real Estate (Regulation and Development) Act. The penalty followed a complaint by buyer M Santhosh, who highlighted irregularities and ongoing disputes between the landowner and developer. TG RERA barred the developer from advertising, marketing, or selling plots until the project is registered and ordered compliance within 15 days. Chaired by N Satyanarayana, TG RERA emphasized safeguarding buyers and enforcing transparency in Telangana's real estate sector....
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Kerela: Maradu demolition sparks inquiry into future construction and CRZ compliance

The demolition of four flat complexes in Maradu, Kerala, due to Coastal Regulation Zone (CRZ) violations has displaced 343 families and stalled new investments in the area. An amicus curiae, Gaurav Agarwal, visited the site under Supreme Court orders to assess permissible future construction. Maradu municipality chairman Antony Ashamparambil criticised the lack of housing solutions for displaced families and the government's inaction against former panchayat president K.A. Devasia, implicated in approving illegal constructions. The crisis highlights the need for stricter enforcement of CRZ rules and sustainable urban planning. Stakeholders await actionable recommendations from the inquiry to rebuild trust and resolve housing issues....
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Taxation & Finance

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Ludhiana Municipal Corporation urges timely property tax payments to avoid penalties

The Ludhiana Municipal Corporation (MC) has reminded residents to pay their 2024-25 property tax by December 31 to avoid a 10% penalty. Payments made before the deadline will incur no penalties, while delays beyond March 31 will attract a 20% penalty and 18% annual interest on outstanding amounts. To facilitate timely payments, Suvidha Kendras will remain open on December 28 and 29. The MC is also promoting digital payment options for convenience. Property tax revenues fund essential city services such as waste management, road maintenance, and community projects. Residents are encouraged to act promptly to contribute to Ludhiana's development....
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Private equity investments in Indian real estate rise to USD 4.2 billion in 2024 led by warehousing and residential sectors

Private equity (PE) investments in Indian real estate reached USD 4.2 billion in 2024, a 32% rise from the previous year, driven by warehousing and residential sectors. Warehousing led with USD 1.9 billion (45% of total), a 136% increase, fueled by e-commerce growth. Residential investments doubled to USD 1.2 billion, showing a 104% rise due to recovering housing demand. Mumbai attracted 50% of PE inflows, with USD 2 billion largely in warehousing. The UAE emerged as the top foreign investor, contributing USD 1.7 billion. Despite a 38% drop in office sector investments, the market shows strong potential across key segments and regions....
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IndiQube plans INR 850 crore IPO to expand managed workspace network

IndiQube Spaces, a Bengaluru-based managed workspace provider, has filed its draft red herring prospectus (DRHP) with SEBI for a INR 850 crore IPO. The offering includes a fresh issue of INR 750 crore and an offer for sale (OFS) of INR 100 crore by promoters Rishi Des and Meghna Agarwel. The funds will support expansion plans, with INR 462.6 crore allocated for new centers, INR 100 crore for debt repayment, and the remainder for corporate purposes. Operating 103 centers across 13 cities, IndiQube manages 7.76 million sq ft, catering to hybrid work demands. With FY24 income at INR 867.6 crore, the IPO reflects the rising demand for flexible workspaces. ICICI Securities and JM Financial are the lead managers....
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Hubballi-Dharwad Municipal Corporation targets INR 25 crore property tax collection from railway properties

The Hubballi-Dharwad Municipal Corporation (HDMC) has initiated efforts to collect property tax from railway properties following a 2009 Supreme Court ruling affirming their taxability. Spread across four zones, these properties include workshops, hospitals, quarters, and the main railway station. In collaboration with South Western Railways, HDMC plans to assign Property Identification Numbers (PIDs) to assess tax rates based on property usage. With projected revenue of INR 25 crore, this initiative aims to bolster HDMC's finances for infrastructure and public services. The process, set for completion by March, highlights inter-agency coordination to enhance civic administration....
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Builders & Projects

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Hyderabad plans 100-acre housing colonies and 2 million homes under Indiramma initiative

Hyderabad's Housing Minister, Ponguleti Srinivas Reddy, announced plans for four 100-acre housing colonies across Greater Hyderabad, catering to low, middle, and higher-income groups. Additionally, the Indiramma housing initiative aims to construct 500,000 houses in its first phase, with a long-term goal of building 2 million homes within four years. The government will provide financial assistance of INR 5 lakh per family in four installments to ease construction costs. With over 80 lakh applications for Indiramma houses and 32 lakh reviewed, the initiative addresses Hyderabad's pressing affordable housing needs. Public-private partnerships are also being explored to accelerate development and improve housing quality....
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Ghaziabad authorities take action against 61 societies for unauthorized borewells

The groundwater department has issued notices to over 61 residential societies in Ghaziabad for operating unauthorized borewells, giving them 30 days to submit compliance reports. Triggered by complaints, the investigation revealed illegal water extraction practices in societies like Shipra Suncity and ATS Advantage, amid a 7-meter drop in groundwater levels. Many residents cite unreliable Ganga water supply as the reason for borewell dependency. Hydrologists stress the need for stricter NOC regulations, while locals demand improved water management. With urbanization driving water scarcity, the situation highlights the pressing need for sustainable solutions and collaboration among authorities, builders, and communities....
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Avalara India acquires premium office space at Panchshil Business Park East, Pune

Avalara India, a leader in tax compliance automation, has secured approximately 1,80,000 square feet of office space at Panchshil Business Park East in Viman Nagar, Pune. This acquisition highlights Avalara's strategy to expand its presence in India and leverage world-class infrastructure to support innovation and operational efficiency. Known for its cloud-based tax automation solutions, Avalara simplifies tax challenges across industries. The deal, facilitated by CBRE India, further establishes Panchshil Business Park East as a premier destination for global enterprises....
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Trending Project

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Samak The Empire Tower

Mumbai City, India

By Samak Constructions Pvt Ltd

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Warehousing & Logistics

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IFC anchors India's first sustainability-linked bond for warehousing sector

The International Finance Corporation (IFC) has invested USD 75 million in NDR InvIT Trust, marking India's first-ever Sustainability-Linked Bond (SLB) issuance by an Infrastructure Investment Trust (InvIT). The funds will expand NDR's warehousing operations, achieve EDGE Certification for green building standards, and reduce greenhouse gas emissions and water consumption. With warehousing space projected to grow from 300 million sq ft in FY23 to 500 million sq ft by 2030, the initiative sets a benchmark for sustainable infrastructure development in India. IFC's support includes ESG target achievement and gender-inclusive practices, aligning with India's climate and economic goals....
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International News

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Norway's Sovereign Wealth Fund acquires 100% stake in eight prime U.S. office properties

Norway's sovereign wealth fund, the world's largest with assets of 1.75 trillion dollars, has acquired a 100% stake in eight prime office properties in Boston, San Francisco, and Washington D.C. for 976.8 million dollars. This deal raises the portfolio's total value to 1.95 billion dollars. Previously co-owned with U.S. insurer TIAA, the properties span 3.7 million square feet and are considered high-quality assets. Despite challenges in the U.S. office market, including rising interest rates and remote work trends, the fund views this as a strategic investment opportunity, reflecting confidence in the sector's recovery and long-term value potential....
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Home Loan Rates

For Salaried For Self-Employed
Bank RLLR From (%) To (%) From (%) To (%)
SBI Term Loan 9.15 8.5 9.65 8.5 9.65
HDFC Bank -- 8.75 9.95 8.75 9.95
Canara Bank 9.25 8.5 11.2 8.55 11.25
ICICI Bank -- 9.25 9.9 9.4 10.05
Kotak Mahindra Bank -- 8.75 9 8.75 9
Punjab & SindBank 8.45 8.5 10 8.55 10
Bank of Baroda 9.15 8.4 10.6 8.4 10.6
Federal Bank -- 8.8 10.25 10.2 10.3
IndusInd Bank -- 8.35 10 8.35 10
Bank of Maharashtra 9.3 8.35 10.4 8.45 10.9
Punjab National Bank 9.25 8.4 10.1 8.9 10.6
Bandhan Bank -- 9.16 13.33 9.16 13.33
RLLR - Repo Linked Leading Rate
* Last updated on 03-10-2024
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Deal News

A residential flat spanning 702 square feet sold in Logipark Pristine O2 World Part 1 in Pune's Wagholi for INR 1.84 crores

A residential flat spanning 996 square feet sold in Shubharambh Clara in Pune's Ravet for INR 89.96 lakhs
A residential flat spanning 847 square feet sold in Shree Sonigara Punamiya Vivanata Next in Pune's Tathawade for INR 74.76 lakhs
A residential flat spanning 626 square feet sold in Divine Palm Springs Ph- II D- Wing in Pune's Wakad for INR 69.43 lakhs
A residential flat spanning 795 square feet sold in Silver Gardenia in Pune's Chikhali for INR 60.16 lakhs
A residential flat spanning 702 square feet sold in Logipark Pristine O2 World Part 1 in Pune's Wagholi for INR 1.84 crores

Bank Auctions

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Residential
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Choryasi, Surat

Bank of Maharashtra is hosting an auction for a flat in Choryasi, Surat, on 28th January 2025. The bidding will be open from 1:00 PM to 5:00 PM, allowing interested buyers a four-hour window to participate.

EMD: ₹ 140000

Property Dictionary

Piling in construction

Piling in construction involves the use of long, slender columns or piles to create a stable foundation for structures. Piling prepares the ground to carry heavy loads, such as buildings, skyscrapers, bridges, roads, etc. This method is usually used when traditional shallow foundations are inadequate due to weak or unstable soil. Piles are usually made of timber, steel or concrete. Its shape, circumference and weight may vary depending on the conditions of the soil and the demands of the project.

Iconic Building

Eden Project

The Eden Project, located in Cornwall, England, is far from an ordinary botanical garden. This iconic environmental complex is a testament to sustainable design and innovation, serving as both a tourist attraction and a global hub for environmental education and conservation. Opened in 2001, the Eden Project has become one of the UK's most visited and unique landmarks. The Eden Project is primarily known for its vast series of geodesic domes, known as Biomes, which house different ecosystems from around the world. The domes are made from hexagonal and pentagonal glass panels, creating a honeycomb-like structure that is both visually striking and highly functional. The design was created by architect Sir Nicholas Grimshaw and has been celebrated for its combination of cutting-edge technology and environmentally conscious principles. Inside the Biomes, visitors can explore diverse habitats ranging from tropical rainforests to Mediterranean climates. The Tropical Biome is the largest of ...

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Financial News

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