PNT Reporter

03 Apr 2023

BHIVE Workspace, in partnership with the Garuda Group, has launched a 5,000-seat co-working centre in Bengaluru to cater to the growing demand for flexible office spaces. Spanning 2 lakh square feet, the Garuda BHIVE Workspace has already leased spaces to various startups. The new centre expands BHIVE's total co-working portfolio to 14 lakh square feet and 40,000 seats across Bengaluru.Read more

PNT Reporter

03 Apr 2023

The Runwal Group, a real estate company, has announced its entry into the commercial real estate sector with a plan to develop over 10.5 million square feet of office spaces in Mumbai and Pune. The company has already started work on its Kanjurmarg project Runwal Commerz and Runwal Edge in Dombivli, with nearly 1 million sq ft in development. The projects will be developed in phases and will include premium residential projects, large open green spaces, and retail components.Read more

PNT Reporter

31 Mar 2023

The Haryana Real Estate Regulatory Authority (H-RERA) has refused to grant an extension of registration to the Shree Vardhman Victoria group housing project being developed by Shree Vardhman Infra Heights Pvt Ltd. This decision was made due to the non-compliance of RERA Act by the promoter. The authority had given 24 opportunities to the developer to comply with the mandatory requirements to renew or extend the registration of the project, but the promoter failed to comply with them.Read more

PNT Reporter

28 Mar 2023

Last week, the shares of Sobha Ltd dropped by more than four percent after the firm confirmed they had been subjected to income tax raids at their head office and in other site locations. In a statement released to the press, the company confirmed that their registered office and other locations of Sobha Ltd were currently the subject of a search by the Income Tax Department. Additionally, the company stated in its disclosure to the exchanges that as a responsible business, all affected employees and personnel are fully cooperating with officials.Read more

PNT Reporter

23 Mar 2023

According to an interview captured by Reuters with top company executives at DLF, the company intends to concentrate on developing luxury and premium projects only to cater to the growing demand in the market segment. They comment about the challenges the company would face in turning a profit if they were to pursue affordable housing projects. DLF’s Gurugram project allegedly sold out in less than 72 hours of its launch, generated more than eighty billion rupees in sales.Read more

21 Mar 2023

Gurugram based real estate company Ganga Realty is gearing up to spend Rs. 750 crores to build its first affordable housing 'Tathastu' in Gurgaon Sector 5, Sohna-Gurugram. The project spans across 22acres and will comprise of 14 buildings with about 2,972 affordable apartments in total. The project is offering 3 BHK apartments with a carpet range of 646 square feet to 1,000 square feet, starting at Rs 25 lacs. The builder aims to finish construction by the first quarter of 2027.Read more

21 Mar 2023

The Maharashtra State Human Rights Commission (HRC) has taken action against CIDCO Managing Director for his “total non-action” against a private builder in the Parsik Hill slope cutting case. The HRC has directed the CIDCO MD to file his own affidavit explaining his stand before the next hearing in the case. The HRC will take up the case next on March 27. The environment department and Navi Mumbai Municipal Corporation (NMMC) have also been directed to submit their fresh affidavits.Read more

21 Mar 2023

The Bombay High Court has stayed the development of Bhagwati Greens Phase 2 in Kharghar, Navi Mumbai, until March 29. The court's decision was made in response to an order by the Maharashtra Real Estate Regulatory Authority (MahaRERA) that rendered the grievances of more than 100 flat buyers in the housing project as superfluous. The association of flat buyers had filed a complaint with MahaRERA, alleging that the builder, Bhagwati Developers, had proposed a fourth tower in a "multi-play area." The association challenged the MahaRERA order in the HC, prompting the court to stay further development of the project.Read more

20 Mar 2023

Earlier this week, the inhabitants of BPTP Spacio in Sector 37D, Gurugram, Haryana lodged a complaint with the police against the developer claiming the latter has not taken adequate measures to ensure the proper functioning of lifts in the high-rise building. The residents have expressed concern about the unsafe elevators and requested a definite solution to the issue. They reported that the automatic rescue devices in the lifts fail frequently, and that the lifts experience severe jolts during power surges or outages.Read more

20 Mar 2023

Max Estates, a subsidiary of Max Ventures and Industries Ltd (MaxVIL), has received approval from the National Company Law Tribunal (NCLT) to acquire a stalled mixed-use project called Delhi One in Noida through the insolvency process. The project was launched by Boulevard Projects Pvt Ltd, a Special Purpose Vehicle (SPV) owned by the promoters of realty firm 3C group, around a decade ago. It consists of one commercial tower, one hotel tower, retail spaces and three residential towers, with a total development potential of 30 lakh square feet. Nearly 300 stuck customers are expected to benefit from the acquisition.Read more