Real Estate

Haryana CM directs HSVP to repair flats in Gurugram’s Sector 47

Delhi/NCR Chief Minister Manohar Lal Khattar on October 17 inspected affordable flats built in Sector 47 under the Ashiana scheme and directed officials of the Haryana Shehri Vikas Pradhikaran(HSVP) to get them repaired within a month. He also asked the officials to prepare a list of beneficiaries and allot these flats to them within the stipulated …

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Minister tells officials to note demands for rehabilitation of Chikhali, Ambewadi residents

The long wait of the flood-affected residents of Chikhali and Ambewadi villages for permanent rehabilitation is likely to end soon. Satej Patil, the district guardian Minister, has instructed the authorities to take note of the villagers’ demands, especially related to the plot requirement for permanent settlement. Patil has visited both the villages several times and has spoken with the …

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Irdai moots premium hike for rebuilding in disaster areas

The insurance regulator has mooted the introduction of a differential premium for insured properties that are rebuilt on sensitive terrain after a natural disaster. This followed an observation that even industries are reconstructing in the same location after a disaster event. Highlighting the growing risk of climate change and natural catastrophe for the Indian insurance industry, Insurance Regulatory and …

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BEE to adopt Indo-Swiss technology to construct 28 lakh houses in Andhra Pradesh

The Union power ministry-led Bureau of Energy Efficiency has finalised an action plan to implement the building Energy Efficiency Project (BEEP) in the state housing scheme. The BEEP project is aimed at adopting ‘Indo-Swiss energy-efficient building technology’ to promote energy-efficient building design in the construction of the proposed 28 lakh houses in Andhra Pradesh. According to officials of the …

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Punjab CM launches scheme to give property rights to people living within ‘lal lakir’

Chandigarh Punjab Chief Minister Charanjit Singh Channi on October 17 launched ‘Mera Ghar Mere Naam’ scheme to give ownership rights to people living in houses within the ‘lal lakir’ of villages and cities. ‘Lal lakir’ refers to land that is part of the village habitation and is used for non-agriculture purposes only. Addressing a gathering during a …

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Sunteck Realty acquires 110 acres land near Mumbai

Mumbai Sunteck Realty has acquired approximately 110 acres of land parcel under the asset light Joint Development Agreement (JDA) strategy along the Pen-Khopoli Road to develop second home project, the company said in a media release. This land will be used for plotted and bungalows development. The project is located close to Pen city and has a development potential of …

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Embassy REIT raises Rs 4,600 crore debt to refinancing existing borrowing

Embassy Office Parks REIT (Embassy REIT) has raised Rs 4,600 crore coupon-bearing debt at an interest rate of 6.5%. The proceeds from this debt raise will be utilized by Embassy REIT to repay its existing zero-coupon bond outstanding of Rs 4,530 crore. The debenture committee approved the allotment of Rs 3,100 crore Series V rupee-denominated, listed, rated, secured, …

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CG Power to sell Kanjurmarg property to Evie Real Estate for Rs 382 crore

Mumbai CG Power and Industrial Solutions on October 18 said it has signed a binding term sheet with Evie Real Estate to sell its property at Kanjurmarg in Mumbai, for Rs 382 crore by March 2022. “As per the term sheet signed with the buyer (Evie Real Estate Pvt Ltd), the sale consideration has been fixed at Rs 382 crore, …

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Rajasthan: Against target of 32,000, only 1,000 lease deeds issued

Jaipur The tall claims of Rajasthan government have fallen flat as urban local bodies have so far issued 1,011 lease deeds (pattas) to old settlements till October 14 under section 69A of the Municipalities Act, against a target of 32,000, which is only 3.15 percent.  Terming the section 69A of the Act ‘magical and game-changer’ in …

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Kolkata civic body kicks off drive to raze rickety buildings around Burrabazar

Kolkata The Kolkata Municipal Corporation has started a demolition drive to ensure the safety of the tenants in the city’s dangerous dilapidated buildings. Four deaths that occurred due to the collapse of some portions of dilapidated buildings in a radius of 1.5km in Burrabazar in a gap of 10 days prompted the civic body to conduct the demolition drive.  …

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