Lucknow: Upkeep firms warned over poor facilities in apartments – ET RealEstate

LUCKNOW: No power backup, poor fire tender equipment, paint peeling off walls, no grills on windows, broken tiles and no numbering of flats. These are some of the anomalies found by the Lucknow Development Authority (LDA) officials during a recent inspection of apartments under their jurisdiction. The LDA has issued showcause notices to the private […]

Now, Jaipur development body’s nod must to put up gates on colony roads – ET RealEstate

JAIPUR: Giving relief to city residents, the Jaipur Development Authority (JDA) on Friday decided to remove colony gates on sector roads which are over 60-ft wide and not to allow residential welfare societies to put up gates without the permission of zone commissioners. The decision was taken at a meeting of the traffic control board, […]

SoftBank reaches settlement with former WeWork CEO Adam Neumann – ET RealEstate

File photo BENGALURU: SoftBank Group Corp said on Friday it has reached a settlement with WeWork‘s special committee and the company’s co-founder and former chief executive, Adam Neumann, putting to rest a legal battle dating back to 2019. SoftBank, the new owner of the office-sharing firm, did not disclose terms of the settlement. Media reports […]

Gurugram: Lifts defunct in Sare Homes, upkeep company booked – ET RealEstate

Representative Image GURUGRAM: Police booked the maintenance company of a residential society for non-functional lifts that are posing a safety risk to the residents. The residents have alleged that despite paying annual maintenance charges (AMC) they have not been provided with any upkeep facility and lifts have not been working for a long time. Around […]

Madhya Pradesh: In Shajapur, PMAY houses named after daughters – ET RealEstate

INDORE: Taking ‘Beti Bachao – Beti Padhao’ campaign forward, Shajapur administration has started naming houses constructed under Pradhan Mantri Awas Yojana (PMAY, Rural). As many as 1000 such houses of various villages of Shajapur district have been painted, beautified and named after girl child of the family in the last ten days. “Thousand houses have […]

Tenant can’t be denied flat owner’s parking space: Maharashtra court – ET RealEstate

MUMBAI: The Maharashtra state cooperative appellate court has said a tenant or a leave and licence holder has the right to park their car in the space allotted to a member on the society premises. It has “temporarily restrained” a cooperative housing society at Nepeansea Road from preventing a flat owner from allowing a person […]

Institutional investments in Indian real estate to increase by 14.6% in 2021: Report – ET RealEstate

NEW DELHI: Institutional investments in Indian real estate will grow by 14.6% to Rs 396 billion from Rs 346 billion in 2020, according to a recent report by Colliers International India. Institutional investments in 2020 had witnessed a drop of 23% from 2019. “The investment climate in India is very buoyant with global investors’ interest […]

Chandigarh administration plans to extend solar plant installation deadline by 6-9 months – ET RealEstate

CHANDIGARH: The UT administration plans to extend solar plant installation deadline, ending on March 31, by six to nine months. Sources said, “The administration is contemplating extending the deadline till September-end or December-end. The final decision will be taken by UT administrator VP Singh Badnore.” The last deadline had ended on March 31, 2020. As […]

Relaxo’s Ritesh Dua buys bungalow in South Delhi for Rs 70 crore – ET RealEstate

Ritesh Dua of Relaxo footwear has bought a sprawling 1250 square yard bungalow in South Delhi’s Vasant Vihar for around Rs 70 crore, three persons aware of the deal said. There have been at least half a dozen high value transactions in South Delhi’s posh areas like Vasant Vihar, Western colony and Shanti Niketan, post […]

New home sales in U.S. increase by 4.3% in January – ET RealEstate

WASHINGTON: Sales of new U.S. single-family homes increased more than expected in January, boosted by historically low mortgage rates and an acute shortage of previously owned houses on the market. The report from the Commerce Department on Wednesday suggested the housing market would continue to underpin the economy’s recovery from the COVID-19 recession. Momentum could, […]