MahaRERA Dismisses Complaint Against Lodha’s New Cuffe Parade Project in Mumbai
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has clarified that it is not within its purview to oversee construction beyond the registered project boundaries. This decision came as MahaRERA dismissed a complaint against Macrotech Developers, popularly known as Lodha, concerning…
UPRERA Mandates Sale of Apartments Based on Carpet Area, Not Super Area
The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has mandated that builders should sell apartments based solely on the carpet area, rather than the super area, as per officials. Selling units based on super area is deemed unjustifiable under the…
Bengaluru’s Commercial Real Estate Landscape Faces Headwinds with a 14% YoY Transaction Decline in 2023
According to a report by Knight Frank India, cumulative commercial transactions in Bengaluru experienced a 14.3% dip in CY2023, totaling 12.5 million square feet (msf). The decrease in transactions is attributed to inflationary trends in the US markets and a…
“Realtors Urged to Compile Financial Details for Stalled Housing Projects in Noida and Greater Noida
Realtors in Noida and Greater Noida have been instructed by the local authorities to compile updated details regarding their financial obligations related to stalled housing projects. This move aims to address ongoing issues and facilitate the registration of apartments, as…
MahaRERA’s Tough Stance Spurs Surge in Quarterly Updates from Real Estate Projects
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has experienced a notable increase in project compliance with the mandatory Quarterly Progress Reports (QPR), driven by the regulator’s proactive measures against non-compliance. Out of 480 projects registered in April 2023, over 46.25%…
Indian Real Estate Sees Strong Institutional Investment Momentum, Reaches USD 5.4 Bn, Approaching Pre-Pandemic Levels
Institutional investments in Indian real estate sector maintained a steady momentum at USD5.4 billion, rising 10% YoY during 2023. The year witnessed highest levels of investment inflows since 2020 showcasing India’s resilience despite uncertainties in global markets otherwise. While foreign investments…
YEIDA Unveils Plots Scheme 2024 in Proximity to Noida Airport, Jewar
The Yamuna Expressway Industrial Development Authority (YEIDA) has rolled out an enticing opportunity for investors and businesses with its announcement of the allotment of mixed land-use plots in Sector 24, Noida, under the scheme code MLU-2023-24/09. The scheme, commencing on…
DCB’s Innovative Drone Survey Quadruples Property Tax Revenue to Rs 6.5 Crore
The Dehuroad Cantonment Board (DCB) achieved a significant boost in property tax collection, reaching Rs 6.5 crore in 2023, a fourfold increase from the previous Rs 1.8 crore. The successful enhancement was attributed to the innovative use of drones for…
SEBI Imposes Significant Penalties on Unitech Advisors for Real Estate Fund Violations and Non-Compliance
The conclusion of SEBI’s recent actions brings a glimmer of year-end optimism for numerous investors, as the regulatory body imposes a noteworthy penalty of Rs 1 crore on Unitech Advisors (India) Pvt Ltd and its directors, Ajay and Sanjay Chandra….
Mumbai Sees Second-Highest Property Registrations in 11 Years, Records 4% Revenue Growth in December
In a significant uptick for Mumbai’s real estate sector, property registrations in December soared to the second-highest level in 11 years, marking a year-on-year increase of about a third. According to state government data, the city witnessed the registration of…