Embassy Office Parks REIT’s profit dips 8% in Q1 FY21 – ET RealEstate

NEW DELHI: Embassy Office Parks REIT reported a dip of 8 per cent in its consolidated net profit during the first quarter of the financial year 2020-21. Its profit after tax (PAT) stood at Rs 2,042.39 million in Q1 FY21, as against Rs 2,220.37 million it registered in the corresponding quarter previous fiscal, the company […]

Canara Bank slashes MCLR by up to 30 bps across various tenors – ET RealEstate

NEW DELHI: State-owned Canara Bank on Thursday slashed its marginal cost of fund-based lending rate (MCLR) by up to 30 basis points across various tenors. The overnight and one-month lending rates have been cut by 20 basis points (bps) to 7 per cent each. The three-month MCLR has been revised to 7.15 per cent from […]

Chandigarh’s costliest housing scheme faces closure – ET RealEstate

CHANDIGARH: A second rejection from the UT administration to increase the floor area ratio (FAR) of the city’s costliest housing scheme planned in Sector 53 has almost spelt its death. The Chandigarh Housing Board (CHB) had submitted a revised proposal before the administration to revive scheme that was offering three bedroom-hall-kitchen (BHK) flat for Rs […]

Bengaluru: Buyers file complaint against Fortuna Urbanscape, Embassy – ET RealEstate

NEW DELHI: Home buyers have filed a complaint against Fortuna Urbanscape (FUPL), its directors, Embassy group company, its directors and landowners under sections 403, 406, 409, 429, 420, 421, 120-B and 90 IPC among other offences in Bengaluru. The complainants, through their counsels advocate Ashwarya Sinha and Priyanka Sinha are demanding investigation by the Economic […]

Norway house prices up 5% y-o-y, fastest growth in three years – ET RealEstate

OSLO: Norwegian seasonally adjusted housing prices rose 0.9% between June and July and are up 5% for the last 12 months, a real estate industry association said on Wednesday. It was the fastest annual growth since June 2017, driven by cheaper mortgage rates, as the Norwegian central bank cut its key policy rate to a […]

Noida: Jaypee Wish Town buyers left in lurch as construction gets stalled – ET RealEstate

NOIDA: Thousands of Jaypee Wish Town homebuyers are at their wits’ end as no construction work has taken place at the project site in the past 5-6 months. This, despite the National Company Law Appellate Tribunal (NCLAT) giving conditional approval to the state-owned NBCC to complete the pending 20,000 Wish Town flats in April. A […]

Standard Chartered Bank’s subsidiary leases one million sq ft in Chennai – ET RealEstate

Standard Chartered Bank’s wholly-owned subsidiary Standard Chartered Global Business Services (GBS) has entered into an agreement to pick up over 1 million sq ft office space on a long-term lease in Chennai in one of the largest commercial real estate transactions so far this year, said two persons with direct knowledge of the development. The […]

Facebook leases 7.3 lakh sq ft space at Farley Building in New York – ET RealEstate

NEW YORK: Facebook has leased all the office space at the landmark Farley Building, a 1912 Beaux Arts former post office in Manhattan, in a deal that marks a major expansion of the company’s business operations in the city. Terms of the deal were not disclosed by Facebook Inc and the property’s majority owner, Vornado […]

MHADA to use summary powers to force un-cooperative residents of BDD chawl out – ET RealEstate

File photo MUMBAI: The Maharashtra Housing and Area Development Authority (MHADA) wants to invoke summary powers to evict BDD chawl residents who are not cooperating with its redevelopment project. A senior MHADA officer, on the condition of anonymity, has confirmed that a proposal has been sent to the Urban Development Department (UDD). Once the department […]

Mumbai: Prabhu Niwas’ residents in lurch as BMC issues demolition notice – ET RealEstate

MUMBAI: Eighteen families residing in the four-storey, Prabhu Niwas building in Vile Parle (east) have been hunting for rental accommodations after civic officials issued a demolition notice two weeks ago. The 60-year old, dilapidated building can’t be redeveloped. The reason? It is located in the vicinity of the Mumbai airport, but, more importantly, it stands […]