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HRERA imposes penalty on real estate promoter for misleading ad

Updated on Apr 24, 2024 08:18 AM IST

A HRERA said the authority took strong note of the advertisement published on March 2 and sent a show cause notice to the developer

The authority, the spokesperson said, observed that despite mandatory provisions under Sections 11(2) and 13(1) of the Real Estate (Regulation and Development) Act 2016 the promoter did not properly describe the details in the advertisement, which is a punishable offence under the Section 61 of the act. (Getty image)
By, Chandigarh

NBCC secures work orders worth 23,500 crore in 2023-24 fiscal

Major business secured by NBCC in FY 2023-24 included additional Floor Area Ratio works in Amrapali worth approximately ₹10,000 crore, it said in a statement

NBCC Ltd, the government’s construction arm, said on April 23 that it had secured projects worth <span class='webrupee'>₹</span>23,500 crore during the 2023-24 fiscal year. (Virendra Singh Gosain/HT PHOTO)
Published on Apr 23, 2024 10:24 PM IST

Puravankara Ltd to redevelop housing society project in Mumbai's Pali Hill

The Mumbai redevelopment project has a cumulative estimated development potential of 4.10 lakh sq ft carpet area and a potential GDV of over ₹2,000 crore

Bengaluru-based real estate developer Puravankara Ltd has been appointed as developer for Mumbai’s Pali Hill redevelopment project, the company said in a regulatory filing on April 23. (Representational photo)
Updated on Apr 24, 2024 07:44 AM IST

UP RERA imposes penalty of 5000 on a buyer for filing multiple complaints

UP RERA imposes a penalty of ₹5000 on a property buyer who had filed repeated complaints on the same matter and for ‘wasting the time of the court’

UP RERA, has for the first time, imposed a penalty of <span class='webrupee'>₹</span>5000 on a property buyer who had filed a complaint for the fourth time for delay in possession and registration of a unit
Published on Apr 23, 2024 07:57 PM IST

Cost of real estate construction in India expected to go up by 6% in 2024

Mumbai continues to be the most expensive city with construction costs higher while Chennai offers a more cost-effective options

The overall construction cost in the country will experience an average increase of 6% across various sectors in the financial year (FY) 2024. (Picture for representational purposes only)(Pixabay)
Updated on Apr 23, 2024 12:58 PM IST

WeWork creditors demand company negotiate with potential buyers

Coworking giant WeWork Inc. should be forced to negotiate with potential buyers, a panel of lower-ranking creditors said in a court filing

Coworking giant WeWork Inc. should be forced to negotiate with potential buyers, a panel of lower-ranking creditors said in a court filing(Bloomberg)
Published on Apr 23, 2024 09:29 AM IST
Bloomberg |

World Earth Day: More than half of India’s A Grade office stock is now green

Cities leading the demand for green certified buildings are Bengaluru at 122 mn sq ft, Delhi-NCR at 80 mn sq ft and Mumbai at 73 mn sq ft

World Earth Day 2024: Almost 56% percent of India’s Grade A office stock spanning 815 mn sq ft is now green, a report has said (Picture for representational purposes only)
Published on Apr 22, 2024 10:37 PM IST

Amitabh Bachchan buys a 10,000 sq ft land parcel in Alibaug for 10 crore

Amitabh Bachchan has bought a land parcel in a project called A Alibaug, a 20-acre plotted development in Alibaug, sources said

Amitabh Bachchan has bought a 10,000 sq ft land parcel in Alibaug, near Mumbai, for <span class='webrupee'>₹</span>10 crore
Published on Apr 22, 2024 01:20 PM IST

Bengaluru-based RMZ Corporation exploring opportunities in the US, EU and UK

RMZ Corporation is planning to invest in real estate asset classes and geographies that “give better dollar returns.” These could be in Mumbai or Manhattan

Bengaluru-based RMZ Corporation is actively pursuing real estate deals in the US, EU and the UK and is hoping to close a few within the next 12 to 15 months, Mihir Menda, 25, Supervisory Board Member, RMZ Corporation told HT Digital.
Updated on Apr 23, 2024 07:43 AM IST

More than 101 land deals for approximately 2,989 acres closed in FY-24

In FY-24, over 83 land deals for over 1,135 acres closed in top seven cities alone, remaining 18 deals in tier 2 and 3 cities, including Ahmedabad and Ayodhya

Real estate developers and entities sealed approximately 101 separate land deals in fiscal year 2023-24, cumulatively accounting for nearly 2,989 acres across the country (Picture for representational purposes only)(Pixabay)
Published on Apr 21, 2024 01:39 PM IST

Fancy apartment rentals for Paris Olympics see poor demand and price cuts

Locals in Paris who’d hoped to turn a big profit by renting out their posh apartments during Olympics are now slashing prices by 30%-60%.

Parisians hoping to rent out their splashy apartments at a premium during this summer’s Olympics are starting to temper their lofty ambitions, as they come to terms with a tepid demand and an oversaturated market. (Representational photo)(Pixabay)
Published on Apr 20, 2024 07:21 PM IST
Bloomberg |

NBCC to set up shadow lender to help save over $100 million, sources say

NBCC plans to set up its own non-banking finance company (NBFC) later this year to lower its borrowing costs for key infrastructure projects, sources said

NBCC plans to set up its own non-banking finance company (NBFC) later this year to lower its borrowing costs for key infrastructure projects,
Published on Apr 19, 2024 03:54 PM IST
Reuters |

South Indian states lead with 62% share of the senior living housing segment

The north zone holds 25% of the senior living market share followed by the central zone, which accounts for 13% of the market

South Indian states lead with 62% share of the organized senior living and care segment followed by the north zone with 25% and the central states with 13%: CBRE (Representational photo)(Pixabay)
Published on Apr 19, 2024 03:24 PM IST

Buildings are big GHG emitters; here’s how to decarbonise them

According to IPCC, efficient policies in the real estate sector can reduce GHG emissions by up to 90% in developed and up to 80% in developing countries

Noida: Buildings emit GHGs by using more fossil fuel-based electricity than solar energy, having inefficient designs, requiring artificial lighting even during the daytime, and using air-conditioned cooling (HT FILE PHOTO/SUNIL GHOSH)
Updated on Apr 18, 2024 10:12 PM IST

Pune realty market records 52% YoY surge in property registrations in March 2024

Maharashtra government's stamp duty collections in Pune for March 2024 marked a 30% YoY increase at ₹804 crore from ₹621 crore in March 2023

As many as 21,744 properties were registered in Pune in March 2024, resulting in a 52% increase compared to the 14,309 in the previous year. (REPRESENTATIVE PHOTO)
Published on Apr 18, 2024 09:16 PM IST

New York’s first electric skyscraper promises luxury with lower emissions

An apartment tower in downtown Brooklyn has ditched fossil fuel heating and appliances as new city rules on energy efficiency are phased in

Surrounded by buildings that rely heavily on gas and oil for energy, 505 State Street is New York’s first all-electric skyscraper. (Representational photo)(Pixabay)
Published on Apr 18, 2024 08:30 PM IST
Bloomberg |

Standard Chartered Bank appoints C&W to deliver property services across Asia

The five-year mandate will include global asset and transaction management and property services across Asia, including integrated facilities management

Standard Chartered Bank has appointed global real estate services firm, Cushman & Wakefield, to provide services to support its Asia workplace transformation.(AFP Photo)
Published on Apr 18, 2024 08:02 PM IST

ED attaches Raj Kundra's assets worth 97.79 cr in Bitcoin ponzi scheme case

The properties include a residential flat in Juhu presently in the name of Shilpa Shetty, a residential bungalow in Pune and equity shares in Raj Kundra's name.

Businessman Raj Kundra.(Raju Shinde/HT)
Updated on Apr 18, 2024 01:05 PM IST

Elon Musk-led Tesla hunts for showroom space in New Delhi and Mumbai

Elon Musk-led company Tesla has held preliminary talks with real estate developers, including DLF and officials of Maker Maxity in Mumbai, sources said

Elon Musk-led Tesla has held preliminary talks with a bunch of real estate developers, including the largest player DLF, and Maker Maxity, for showroom space in Delhi and Mumbai. (Representative picture)
Published on Apr 18, 2024 12:13 PM IST

Quess Corp’s founder buys property worth 67.5 crore in Bengaluru

The per sq ft price of the billionaire street deal works out to be around ₹70,300 per sq ft, making it the most expensive deal in Bengaluru so far

Ajit Isaac, chairman and managing director of Bengaluru-based company Quess Corp, has bought a 10,000 sq ft property worth <span class='webrupee'>₹</span>67.5 crore in Koramangala area (Photo for representational purposes only)(Pixabay)
Published on Apr 17, 2024 11:50 PM IST

GCCs, third-party IT service providers lease over 46% of office space in India

By 2030, there will be an estimated 2,400 GCCs across India as it emerges as a global technology and services hub, a report by Knight Frank has saidin

Global firms outsourcing jobs to India have become a major occupier of office space in India with global capability centres and third-party IT service providers contributing to over 46% of office leasing in 2023 (Representational picture)
Published on Apr 17, 2024 11:15 PM IST

Delhi Court dismisses default bail plea of Unitech's former promoters

A Delhi court has dismissed default bail pleas of Unitech's former promoters in a money laundering case relating to cheating of multiple homebuyers

A Delhi court has dismissed default bail pleas of Unitech's former promoters, Sanjay Chandra and Ajay Chandra, in a money laundering case relating to cheating of multiple homebuyers of several crore rupees.(Mint File Photo)
Published on Apr 17, 2024 07:45 PM IST
PTI |

Brigade Enterprises records sale bookings of 6,013 crore in FY24

The Bengaluru-based real estate firm, Brigade Enterprises, said it has achieved pre-sales of ₹6,013 cr in FY24 and ₹2,243 cr in the fourth quarter of FY24

Bengaluru-based Brigade Enterprises Limited reported an almost 46% increase in its annual sale bookings to record sale bookings of <span class='webrupee'>₹</span>6,013 crore in FY24
Published on Apr 16, 2024 09:50 PM IST

Kanodia Group acquires land in Gurugram for 153 crore

Kanodia Group said that the luxury project is scheduled to be launched by the end of the year and is expected to be completed within 48 to 60 months

Kanodia Group, which is into the cement business, has acquired a 1.74 acre land parcel in Gurugram for <span class='webrupee'>₹</span>153 crore. (Representational photo) (Photo by Parveen Kumar/Hindustan Times)
Published on Apr 16, 2024 09:35 PM IST

Haryana RERA imposes penalty of 6 lakh on Vatika Ltd

Vatika Ltd said it will appeal the order "because all the facts of the case and the company’s representations have not been considered”

The Haryana Real Estate Regulatory Authority (RERA) has penalized the real estate company Vatika Limited with more than <span class='webrupee'>₹</span>6 lakh for violating the builder-buyer agreement provisions . (Picture for representational purposes only) (Getty Images)
Published on Apr 16, 2024 08:42 PM IST

Dubai mansion sales soar as wealthy flock to palm-shaped island

Sales of homes with a price tag of $10 mn or more climbed 19% in Dubai during the first quarter as the world’s ultra-wealthy continue to flock to the city

Sales of homes with a price tag of $10 million or more climbed 19% in Dubai during the first quarter (Getty/ Representational image)(Getty)
Published on Apr 16, 2024 08:20 PM IST
Bloomberg |

Industrial and warehousing supply in Q1 2024 touches 7 mn sq ft

Mumbai and Chennai drive demand for industrial and warehousing with 27% share each; 3PL players contribute over 40% of quarterly demand

Industrial and warehousing supply inches towards 7 million sq ft during Q1 2024, (Photo for representational purposes only)(Pixabay)
Published on Apr 16, 2024 10:03 AM IST

Brigade Group to invest 400 crore to develop office space in Chennai

Brigade Group has entered into a JDA with Agni Estates & Foundations Pvt Ltd to develop the project with a leasable area of 8.36 lakh sq ft

Brigade Enterprises Limited will be investing <span class='webrupee'>₹</span>400 crore to develop a commercial project in Chennai (Picture for representational purposes only)(Pexel)
Published on Apr 15, 2024 08:31 PM IST

Wellknown Polyester's CMD buys two luxury apartments in Mumbai for 270 crore

Lodha has sold two luxury apartments to the chairman and managing director of Wellknown Polyesters Ltd Anil Gupta. The two units were registered on April 12

Macrotech Developers has sold two apartments in its luxury project Lodha Malabar for <span class='webrupee'>₹</span>270 crore to the chairman and managing director of Wellknown Polyesters Ltd, Anil Gupta, registration documents showed.
Published on Apr 15, 2024 05:09 PM IST

Muji bets its minimalist retail will work for homes, hotels

Globally, Muji aims for an annual net increase of about 50 stores in Southeast Asia and plans for bigger flagship stores in New York and Paris

 Muji, a Japanese brand, is bringing its minimalist aesthetic to habitation. (Picture for representational purposes only)(Pixabay)
Published on Apr 15, 2024 04:55 PM IST
Bloomberg |
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