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Construction resumes at stuck housing project of Jaypee, homebuyers to monitor work
Kalypso Court is among the five projects at Wish Town that are promoted, sold, and developed by JAL, not Jaypee Infratech Ltd, which is in insolvency resolution. The promoter has submitted details of project financials along with a plan for completion of the project.
PNB housing finance failed to get any bidder for Vipul Ltd project in Gurgaon
As per an estimate by PNB, the market value of the property was...
Banks cannot auction project without the approval of buyers, authority: Haryana RERA
Gurgaon bench of Haryana Real Estate Regulatory Authorit...
Supreme Court asks SBI Capital to fund 6 Amrapali Group housing projects
A bench of Justices Arun Mishra and U.U. Lalit directed SBI CAP to begin funding for six projects, after the financial institution, which manages the stressed asset fund for stuck realty projects, informed the top court that it cannot fund all the projects.
PM Narendra Modi to launch projects in 5 batches till Sept 23
Prime Minister Narendra Modi is expected to announce a slew of projects worth several hundred crores of rupees in poll-bound Bihar in five phases starting September 10.
NBCC informs SC about completion of 230 units in Amrapali project
The NBCC also sought an assurance regarding future funds as it has employed almost 12000 workers at different sites. The bench directed the NBCC and receiver to give details of the funds requirement.
Construction software helped Bhubaneshwar authority to offer extra space at housing project
The software enabled Inventaa to control the project in a centralized manner right from design to planning, monitoring and improving upon the execution of the project on-site. Trimble said that the tight block layouts at various parts and narrow approach for elements and crane positioning further added on to the already restricted site-space challenge.
Delhi HC restrains Ajanara from creating third party rights in its project 'Times Square'
Further Ajnara India and its subsidiary have been asked by the Court to explain why they should not be directed to secure an amount of Rs. 50.51 Crores (approx.) that is admittedly owed to RR Buildtown.
At Rs 861.9 crore, Tata Projects outbid L&T for Parliament work
The Tata group company offered to execute the project for Rs 861.9 crore, only Rs 3.1 crore less than L&T’s bid of Rs 865 crore.
Mahindra Lifespace Developers to focus on land acquisition, project alliances
The company is already receiving several proposals for acquisition of land parcels including few with approved plans that considerably reduces the time gap between land acquisition and the project’s launch, said Arun Nanda, Chairman, Mahindra Lifespace Developers.
No proposal to make India the export hub of Apple products: Piyush Goyal
In a separate reply, he said that in the last six financial years (2014-20), India has received foreign direct investment (FDI) inflow worth $358.30 billion which is 53% of the FDI reported in the last 20 years. “However, no data regarding total investment under Make in India is maintained centrally,” he said.
LIC Housing Finance slashes home loan rate to all-time low of 6.9%
The mortgage lender said it’s total loans under moratorium was below 25%, out of which 60% of the construction finance book was under moratorium. From its total construction book of Rs 13,000 crore, upwards of Rs 8000 crore of loans are under moratorium. The silver lining is more than 46,000 borrowers largely retail, have started paying their dues, Mohanty said.
Housing Minister says open to 100% FDI in affordable rental accommodation projects
“I can tell you up front, I am all for it (100 per cent FDI in affordable rental housing), because am clear as to what our objectives are. Our objectives are that we have to cater to a situation where the urban population in the year of the 2030 will be around 600 million,” the minister said.
RBI’s decision on one time loan restructuring will help stressed projects: Housing secretary
Durga Shankar Mishra, Secretary (HUPA) Ministry of Housing and Urban Affairs said that RBI has been proactively taking decision and will positively decide on one time loan restructuring.
Income from investments in rental housing for lower income groups to be exempted from income tax
“Affordable Rental Housing Complex” is included in the Harmonized Master List of Infrastructure Sub-sectors by insertion of a new item in the category of ‘Social and Commercial Infrastructure’, with a footnote defining Affordable Rental Housing Complex,” the Board said in a notification Friday.