HomeArchive by category: Daily News

Archive by category: Daily News

DNA: After delay in flat possession, builder delays giving interest.

DNA Picture for representation After delay in possession a leading developer is now even delaying the interest he had promised to pay a homebuyer for the delay. A homebuyer had approached Maharashtra Real Estate Regulatory Authority (MahaRERA) in October 2017, because of delay in the possession of the flat. The builder and the homebuyer mutually agreed to settle the matter in …

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The Hindu Business Line: ‘The residential realty market has matured and sales are picking up’ .

The Hindu: Day after, stop work notice to Lodha Group in Mira Road . Meetings with developer, complaints to MBMC futile: residents Mumbai: Two days after a four-storey building in Green Wood Complex developed a massive crack, the Mira Bhayandar Municipal Corporation (MBMC) on Thursday issued a notice to Lodha Group, asking it to stop all construction work in the …

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The Afternoon Desptach & Courier: Developer asked to make immediate payment of rent to tenants.

In a landmark judgement, Justice G S Patel at the Bombay High Court, on Wednesday, directed a developer to pay tenants, stipulated monthly rent by 5th of every month, failing which the permission granted for redevelopment project located at Wadala West, will be cancelled, without even a show cause notice. The judge also directed that there will be an annual …

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TOI: Brookfield eyes Hotel Leela stake

MUMBAI: Brookfield Asset Management, one of the most influential infrastructure and real estate investors globally, is in advanced talks to buy into the troubled Hotel Leelaventure, said people directly aware of the matter. Canadian investor Brookfield’s discussions are centered around assuming the debt held by JM Financial Asset Reconstruction Company. The marquee Indian hotel chain runs nine luxury properties, of which they …

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ET: Brookfield in talks with JM Financial ARC to acquire stake in Hotel Leelaventure

Brookfield Asset Management is in talks with lender JM Financial Asset Reconstruction Company for acquiring a stake in debt-ridden hospitality chain Hotel Leelaventure, people familiar with the development said. “Three to four investors are in the fray. Brookfield is one of them. Nothing has been finalised yet,” Dinesh Nair, managing director at Hotel Leelaventure told ET. A consortium of BlackRock, SSG Capital and …

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ET: 343 infrastructure projects show cost overrun of Rs 2.23 lakh crore

As many as 343 infrastructure projects, each worth Rs 150 crore or above, have shown cost overrun of Rs 2.23 lakh crore owing to delays and other reasons, a report said. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. “Total original cost of implementation of the 1,332 projects was Rs 16,26,675.52 crore and their anticipated completion …

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DNA: Union Ministry’s drone nod gets real estate industry excited

The Union Minister for Civil Aviation’s clearance for flying drones has got the real estate industry excited. Using drone will help increase efficiency and produce quality results in real estate marketing, say experts. Which means drones will soon be part of every developers’ team providing aerial footage, high-quality visuals of the site and timely updates. Experts say this will help …

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DNA: Realty firms see construction ban lifted

Though the Supreme Court has stayed all construction in Maharashtra, Chandigarh, Madhya Pradesh and Uttarakhand for not having framed a policy under the Solid Waste Management Rules, 2016, the realty players are not worried much. They say the apex court’s order has not only stayed real estate construction but also other construction that includes road activity or infrastructure work. Among …

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Mumbai Mirror: 15 years on, tenants have a shot at getting homes back

After initially losing the plot, the tenants of a building in IC Colony in Borivali finally have a shot at getting back the homes they vacated more than 15 years ago apparently for “repairs”. Small Causes Court Judge KV More last week granted six tenants of Xavier Building a relief by restraining their landlord Michael Rodrigues (son of the original landlord) from …

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