PNT Reporter

30 May 2023

A panel in Gurugram has lifted the ban on property registrations owned by Chintels India, which is expected to expedite the compensation process for owners of towers D, E, and F of Chintels Paradiso. Chintels India had claimed that the ban had severely affected its cash flow, making it difficult to pay rent to families that had relocated. The panel has directed residents of towers E and F to vacate immediately, deeming the structures unfit for living. Some residents have requested that property registrations be allowed only after the developer has collected the necessary funds for compensation and rent payment.Read more

PNT Reporter

29 May 2023

Awfis, a flexible workspace provider, has announced its expansion plans in the National Capital Region (NCR) by launching two new centres in Gurgaon and Noida. The Suncity Success Towers in Gurgaon will cover 40,000 square feet and accommodate 650 individuals, while the Knowledge Boulevard centre in Noida will span approximately 44,000 square feet and accommodate 700 individuals. These centres will offer adaptable workspaces designed with elements of natural light, biophilia, and collaborative environments to enhance employee well-being.Read more

PNT Reporter

29 May 2023

In a strategic move to generate funds for new real estate ventures, the Adani Group is set to liquidate non-core real estate assets, according to insiders. This initiative includes a potential sale of Inspire BKC, a commercial project in Mumbai's Bandra-Kurla Complex, and a 16-acre plot in Thane, near Mumbai, both expected to collectively fetch approximately INR 15,150 crore. The initiative is part of Adani's wider strategy to invest in significant projects, such as the redevelopment of Dharavi, one of the world's largest slum clusters.Read more

PNT Reporter

29 May 2023

The Atal Apartments project in Ludhiana has been postponed for about 15 years, but the authorities are currently awaiting the MC chief engineer's clearance for the revision of the total cost. The increased estimate is anticipated to be around Rs 225 crore and is owing to an increase in building costs. However, many who have received letters of allotment for the units are worried about the project being finished in the three years that were promised. Modern conveniences like a swimming pool, gym, parks, and a clubhouse have now been included in the project.Read more

PNT Reporter

26 May 2023

The Jharkhand Real Estate Regulatory Authority (RERA) has taken strong action against M/s Rebloon Impex and its partners for failing to register their projects and violating regulations. This is the first instance of blacklisting in Jharkhand. The firm and its partners were found to be non-compliant with a court order and various norms set by the authority. As a result, they have been barred from undertaking any new projects. The authority aims to protect home buyers, resolve pending complaints, and promote transparency in the real estate sector.Read more

PNT Reporter

26 May 2023

Supertech, a prominent real estate company, has recently informed the administration that it has successfully resolved 32 recovery certificates (RCs) issued by the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera), amounting to a total of Rs 7.6 crore. Additionally, the company stated that it has made a payment of Rs 3 crore to the administration. These developments come as Supertech strives to address the concerns of its customers and settle any outstanding complaints amicably. The company has been offering alternative units or other suitable arrangements to allottees in an effort to find mutually agreeable solutions.Read more

PNT Reporter

25 May 2023

The Chhattisgarh State Consumer Disputes Redressal Commission (SCDRC) has repeatedly issued notices to the Superintendents of Police (SPs) in Bilaspur and Durg on various dates, including November 17, 2020, March 25, 2021, February 24, 2023, and March 24, 2023. The purpose of these notices was to ensure the arrest of realtors Sardul Singh and Raspal Singh, and their subsequent appearance before the consumer court during the upcoming hearing scheduled for June 19, 2023. The SCDRC aims to enforce legal action against the mentioned individuals and resolve the consumer dispute case.Read more

PNT Reporter

25 May 2023

In a recently held review meeting, Ritu Maheshwari, the chief executive officer of Greater Noida Industrial Development Authority (GNIDA), issued a directive to initiate a survey through the consultant firm, Currie & Brown. The survey aims to assess the status of various group housing plots that have been lying idle. Maheshwari's decision highlights the authority's proactive approach in addressing the issue of unutilized plots. By commissioning the survey, GNIDA intends to gather crucial data regarding the status and potential utilization of these plots.Read more

PNT Reporter

25 May 2023

Real estate company BCD Group has unveiled Vanaprastha, a senior living community experience inspired by the Vedic age, to meet the rising demand for retirement options in India. The project, located in Hoskote, offers state-of-the-art amenities such as recreational centres, fitness facilities, and 24/7 medical services. The company plans to collaborate with specialized UK-based healthcare companies to provide personalized services. Vanaprastha at BCD Emprassa will be the country's first rental senior community living experience of its scale, offering affordable pricing. BCD Group aims to replicate this model in Chennai and NCR, investing over Rs 200 crores in each project.Read more

PNT Reporter

25 May 2023

Gurugram residents anxiously await the release of the final audit report for four towers of Chintels Paradiso in Sector 109. The Shri Ram Institute has submitted a sealed test report to the district administration, which is now being analysed by IIT-Delhi for recommendations on the habitability of the structures. Towers D, E, and F have already been declared unsafe, leading to an ongoing compensation settlement process. Chintels India, the developer, has offered residents the choice between compensation or having their flats repaired or rebuilt. The findings of the audit report will play a crucial role in determining the future of these towers.Read more