Brookfield may acquire 50% stake in RMZ Corp for about Rs 5,600 crore – ET RealEstate

BENGALURU: Brookfield Asset Management, the Canadian alternative investment firm, is said to be planning to invest $500-800 million (Rs 4,000-5,600 crore) in RMZ Corp to buy up to 50% stake in the Bengaluru-based developer’s business parks, people familiar with the matter said. RMZ is expected to create a special purpose vehicle (SPV) to house about […]

More consumers keen on home ownership over renting despite Covid-19 challenges: Survey – ET RealEstate

Real estate is emerging as a preferred investment asset class in the backdrop of economic uncertainty and rising stock market volatility with over 50% of consumers considering buying a new home in the next six months, showed a JLL India survey. The survey was conducted online covering over 2,500 prospective homebuyers from Mumbai Metropolitan Region, […]

Top eight property markets see 5.4% decline in Q1 average prices – ET RealEstate

MUMBAI: The Covid19 pandemic, subsequent lockdowns and its impact on economic growth have resulted in correction on property prices. Top 8 Indian property markets have witnessed an average 5.4 per cent drop in prices from a year ago during April-June, showed data from Liases Foras Real Estate Rating & Research. On Sequential basis, weighted average […]

Old DDA colonies may get a new lease of life – ET RealEstate

NEW DELHI: The Union housing and urban affairs ministry is working on a policy to allow redevelopment of old DDA colonies in the national capital, which will pave way for taller buildings with amenities such as parking space and facilities for lifts. As per the plan, the redevelopment work would be taken up only if […]

Delhi International Airport challenges Rs 2,600 crore property tax demand by DCB – ET RealEstate

NEW DELHI: The Delhi High Court on Wednesday sought response of the Centre on a plea by DIAL, which operates the Indira Gandhi International (IGI) Airport, challenging the demand of nearly Rs 2,600 crore property tax by the cantonment board for the 2016-19 period. The high court, however, refused to pass any interim order on […]

Gurugram MLA to raise homebuyers concern at justice meet – ET RealEstate

NEW DELHI: Residents of posh housing societies of Gurugram facing issues such as high maintenance cost, bad quality of construction and lack of infrastructure, will get a chance to raise the matter with authority convened, who will solve the issue within stipulated time. Rakesh Daultabad, Member of Legislative Assembly from Badhshahpur, which covers 70% of […]

DDA receives nearly 12,000 applications for ownership rights from illegal colonies – ET RealEstate

NEW DELHI: Delhi Development Authority (DDA) has received nearly 12,000 applications for ownership rights from residents of 1,731 unauthorised colonies in the capital under the Prime Minister-Unauthorised Colonies in Delhi Awas Adhikaar Yojana (PM-UDAY) since March 22, when lockdown was first imposed in the city. The number is nearly three times that of the number […]

Gurugram: 12 years on, Ardee City buyers wait for registry of homes – ET RealEstate

GURUGRAM: Around 300 families living in Ardee City, Sector 52, have been waiting for the rightful ownership of their houses for over a decade now. The developer hasn’t executed the registry of their homes so far, citing non-payment of maintenance amount by residents as the reason behind the delay. Buyers started getting possession of their […]

Oyo Hotels & Homes terminates lease contracts for two Gurugram offices – ET RealEstate

NEW DELHI | BENGALURU: Oyo Hotels & Homes has terminated leases at two of its flagship corporate offices in Gurugram and is renegotiating the lease on a third, sources told ET, as the cash-strapped hospitality chain — battered by low occupancies due to the Covid-19 pandemic – moves to save on real estate costs. The […]

Buyers to move SC after penalty relief for builders in Noida – ET RealEstate

NOIDA: Homebuyers are all set to move the Supreme Court seeking refunds after it recently reduced the penalty imposed on builders by authorities in the twin cities for delayed payment from 20% to 7.3% as per the State Bank of India’s marginal cost of lending (MCLR). Buyers claim that any money refunded by the authorities […]