12 Aug 2023

Builder Rajan Dhruv of Orbit Ventures evaded authorities, hiding in a Pali Hill flat for two hours as Economic Offences Wing (EOW) and Khar police aimed to serve a notice in an Rs 11.76-crore cheating case. Despite doorbell issues, a key maker eventually opened Dhruv's door. A 57-year-old woman had lodged a complaint against Dhruv and other directors at Khar police station. EOW took charge of the investigation. Dhruv allegedly took 11.76 crore from the complainant and failed to repay, offering a promised commercial unit instead, but not delivering. Charges include criminal breach of trust.Read more

12 Aug 2023

Tata Realty and Infrastructure Ltd. (TRIL), the real estate arm of the Tata Group, is set to acquire a 25.3-acre land parcel in Bengaluru for approximately Rs 986 crore. The strategic acquisition, located in Doddanekundi Village near the IT hub of Whitefield, underscores TRIL's expansion plans. The company aims to introduce 5 million square feet of office space through two IT parks in Hebbal and Whitefield, requiring an investment of Rs 4,000 crore. This move aligns with the trend of developers engaging in smaller land transactions for diverse developments, showcasing the dynamic nature of India's real estate market.Read more

11 Aug 2023

An ongoing independent survey directed by the Meerut divisional commissioner has uncovered around 5,000 multi-storey buildings erected on single-use plots within Vasundhara township. The committee's investigation, triggered by complaints of land use violations received by the DC's office, aims to address these concerns. The forthcoming report will be submitted to the state government for action, possibly involving extensive demolitions,. Residents have expressed dismay over the impact on infrastructure, while questions arise about regulatory oversight. Officials suggest banks verify legality before granting home loans.Read more

11 Aug 2023

Real estate prices in Mokila, neighbouring Kokapet, have surged remarkably. The Telangana government's auction of a 165-acre layout in Mokila village resulted in three times the market price per square yard. The auction, managed by the Hyderabad Metropolitan Development Authority (HMDA), saw bids reaching impressive levels, from Rs 1.05 lakh to Rs 72,000 per square yard. Out of 50 plots, 48 were successfully sold, amassing Rs 121 crore in revenue. Mokila's prominence is underlined by this achievement, where historically open plots were sold at about Rs 30,000 per square yard.Read more

11 Aug 2023

The Asia Pacific tourism and hospitality sector is bustling with activity as investments surge, occupancy rates remain high, and leisure travel demand grows. Notable transactions include Singapore's largest-ever single asset hotel sale, and Japan and Australia/New Zealand leading in investment deals. Leading hotel chains like Dusit International expand into Nepal and Japan. New hotels like Bulgari Hotel in Tokyo and upcoming openings like Dusit Thani Kyoto and Club Med Kiroro Grand highlight the sector's vibrancy. China, Malaysia, and Thailand also saw significant hotel openings. With investments and new launches, the region's tourism and hospitality industry looks poised for continued growth.Read more

10 Aug 2023

The government's Life Mission housing initiative has encountered significant setbacks due to surging steel prices. With construction costs now exceeding original estimates by over 50%, contractors are halting projects and seeking increased funding. Out of 29 sanctioned apartment complexes, only four are complete. Furthermore, the recent Life 2020 phase has only reached housing agreements with 16.34% of eligible families. Financial challenges, including local bodies' inability to provide bank guarantees for necessary loans, add to the project's complexities. Immediate resolutions are imperative for the mission's success.Read more

10 Aug 2023

Over the weekend, Gautam Buddha Nagar residents held demonstrations, pressing for urgent resolutions on halted flat registries and incomplete housing projects. Representing 25 Greater Noida West societies, the protestors emphasized the need for quick action on government commitments. Meetings between NEFOWA, GNIDA CEO Ravi Kumar NG, Jewar MLA Dhirendra Singh, and other officials took place. Civic concerns like rain water logging due to a Sector 51 wetland and other maintenance issues were also discussed. Noida Authority CEO Lokesh M proposed a survey of the problematic wetland to find solutions. Residents await tangible actions following these discussions.Read more

09 Aug 2023

Amid mounting anticipation, MHADA Mumbai Housing Lottery 2023 applicants anxiously await the draw date. Initially set for July 18 but postponed due to an extended application deadline, MHADA officials promise to reveal the date soon. Over 120,000 valid entries vie for 4,082 flats in prime locations like Juhu and Andheri, with a colossal Rs 519 crore deposited as earnest money. Speculation on MHADA profiting from bank interest is dismissed. The flats encompass various categories, including PMJAY, EWS, LIG, middle-income, and high-income units. As excitement peaks, Mumbai's hopeful residents await crucial news that will impact both MHADA and the aspirants.Read more

09 Aug 2023

A recent joint report by Knight Frank and The Royal Institution of Chartered Surveyors (RICS) predicts a meteoric rise in India's construction sector, forecasting an output of $1 trillion by 2030. The expansion is expected to generate 100 million jobs, showcasing India's impressive economic resilience. The growth is driven by rising incomes, increasing domestic demand, and an evolving business landscape. Additionally, supportive government policies and substantial Foreign Direct Investment (FDI) are further bolstering this booming sector, emphasizing India's rapid infrastructural and real estate development.Read more

09 Aug 2023

K Raheja Corp, a prominent Real Estate conglomerate in India, has introduced its Women in Leadership Program, named "SHEROES: Expand your Potential." This initiative is aimed at enhancing the company's pool of women leaders and fostering gender parity. The program's initial phase involved a select group of 24 high-potential women from various sectors of the company, such as Mindspace Business Parks, Chalet Hotels, Inorbit Mall, and K Raheja Corp Homes. The comprehensive intervention comprised a 4-month intensive learning journey, including training sessions, group coaching, and practical assignments. The program was a collaborative effort, designed by the company's internal L&D team and InspireOne Consultants, and was executed by skilled trainers, external speakers, and image consultants.Read more