UPRERA Penalizes 1,000+ Projects for QPR Non-Compliance
The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has taken punitive action against more than a thousand real estate projects for their failure to submit Quarterly Progress Reports (QPRs) accurately. The UPRERA has directed project promoters to rectify this issue…
Prestige Group to launch its largest Hyderabad township, targeting Rs 8,000 crore in sales
Bengaluru-based real estate developer Prestige Group is all set to unveil its most ambitious project yet, “The Prestige City,” in Hyderabad, with the launch scheduled for November 9. The company has high hopes for this project, with sales potential exceeding…
Trehan Iris Launches OMEGA, an office tower in Iris Broadway Greno West
Trehan Iris, one of India’s leading real estate developers, has recently launched OMEGA – a high-rise office tower. This tower is within “Iris Broadway Greno West”, a 1 million sq. ft. premium retail-led mixed-use development and entertainment destination. OMEGA has…
Challenges for NRIs Managing Bengaluru Real Estate Investments: Exploring Exit Options
Dr. Renuka Divakaruni, a seasoned real estate investor based in the United States with more than 15 years of experience, is contemplating a strategic exit from her extensive real estate holdings in Bengaluru. Her deliberation on this move is fueled…
Over 73,000 applicants for MHADA Pune lottery apartments priced from Rs 5 lakh.
In the recent MHADA Pune lottery for 2023, there has been a remarkable response, with over 73,000 applications received for the sale of 5,863 affordable homes. These homes come with a price range starting from as low as Rs 5…
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…