Karnataka RERA Orders Developer to Register Pre-Act Completion Project
In a recent development, the Karnataka Real Estate Regulatory Authority (KRERA) has directed Mantri Developers Pvt Ltd to register its residential project, Mantri DKS Pinnacle, located in Bengaluru, as an ongoing project. This directive comes in response to a complaint…
Prestige Group Receives Stop-Work Order from BMC for Alleged Violation of Guidelines
Mumbai’s civic body, the Brihanmumbai Municipal Corporation (BMC), has issued a “stop work” notice to a unit of the publicly-listed real estate company, Prestige Group, for allegedly failing to adhere to air pollution control guidelines in the city. The BMC…
DLF Records Impressive 30.32% Growth in Net Profit for Q2 FY24
DLF has released its latest financial report for the quarter ending on September 30, 2023, and the results are indeed impressive. The real estate giant has shown a robust 30.32% growth in its consolidated net profit, a significant achievement in…
Karnataka High Court Annuls FIR Against Mantri Group
“After filing the initial FIR in 2020, homebuyers communicated with the Enforcement Directorate (ED) in June 2022, alleging misappropriation of funds. On June 25, 2022, the ED stated that Mantri Developers and its subsidiaries had collected funds from homebuyers for…
Kolkata witnessed a total of 4,347 apartment registrations, marking a 25% y-o-y decline
In September 2023, the Kolkata Metropolitan Area (KMA) recorded 4,347 apartment registrations, reflecting a 25% year-on-year decrease. Since the beginning of the calendar year 2023, a total of 31,026 apartments have been registered in the region. These findings come from…
Embassy Office Parks REIT’s Q2 net operating revenue grew 4% YoY to Rs 889 crore
In Q2 FY2024, Embassy Office Parks REIT reported leasing 2 million square feet (msf) of office space through 25 deals, resulting in operational revenue of Rs 889 crore, marking a 4% increase, according to an October 26 regulatory filing. This…
Telangana Beats the Heat with New Cool Roof Policy
The Government of Telangana has put forward the Cool Roof Policy 2023-2028, with a vision to make Telangana a thermally comfortable and a heat resilient state. The Policy comes in the wake of rapid urbanization leading to higher temperatures, poor…
5 Real Estate Micro Markets Homebuyers Should Monitor for Mumbai’s Air Quality
Mumbai has witnessed a concerning decline in air quality over the past two years, posing significant health risks to its residents. As air quality once again reaches alarming levels, the Brihanmumbai Municipal Corporation (BMC), Mumbai’s civic body, has issued guidelines…
Yamuna Expressway authority set to roll out 2,000 more plots
Following the resounding success of its recently concluded residential plots scheme, the Yamuna Expressway Industrial Development Authority (YEIDA) is planning to introduce a similar scheme in January-February 2024. This new scheme is expected to encompass over 2,000 residential plots of…
2300 DDA flats were sold within 100 days of housing scheme launch
Approximately 100 days after initiating its housing scheme, the Delhi Development Authority (DDA) has successfully sold close to 2,300 flats. The housing scheme, which was launched on June 30, offered 5,600 flats in one, two, and three BHK configurations in…