Real Estate News, Updates, Trends in india @TheRealtyPaper
      

Next Orbit-Interups partner to launch the 1st hospitality REIT

mumbai

City-based venture capital firm Next Orbit Ventures on Thursday said it has entered into an agreement with US-based Interups to launch the country’s first hospitality Real Estate Investment Trust (REIT). To be called Bharatham Hospitality REIT, the joint venture (JV) is expected to raise around Rs 1,000 cr. The regulatory More...

Govt to amend rules mandating compensation in litigations on immovable properties

capital

The central government has moved an amendment Bill in Lok Sabha to prevent the government from having to pay huge compensations at prevalent market rates in case of litigation on immoveable properties acquired in the past for national security and defence purposes. The Requisitioning and Acquisition of Immoveable Property (Amendment) Bill introduced in Lok Sabha shields the government from paying enormous compensation amounts at prevalent market rates in case an old acquisition case is challenged More...

JSW Group in talks with West Bengal govt to set up 2,500-acre industrial park at Salboni

kolkata

JSW Group that has acquired nearly 4300 acres of land at Salboni for setting up various units under its paints, cement and steel and power business has found that it will need only about 1500 acres of land for setting up these units. The remaining amount or 2500 acres had been identified by the group as surplus for which it has no possible use as of now. JSW Group is now in talks with West Bengal government to set up an industrial park on the surplus 2500 acres of land at Salboni. We are expanding More...

Top 8 cities record 12.5 mln sqft office absorption in H1 2017: Report

mumbai

According to a Cushman & Wakefield report, the top eight property markets across India recorded a total net absorption of 12.5 mln sqft office space during the first half of 2017. The figures are down 11% from the year ago period, with about 57% of the net absorption taking place in the second quarter of 2017. Compared to the year ago period, Chennai was the only market among these cities to witness a growth of over 110% in net absorption, with the rest of the seven cities registering a decline More...

Hyderabad and Bengaluru beat IT blues, remain top office markets

bengaluru

The IT hubs of Bengaluru and Hyderabad remained the most active office markets in India in the second quarter of 2017, despite constraints of supply, subdued business sentiments and recent layoffs by technology companies. According property consultant JLL India, both of these IT hubs together accounted for about 47% of the total office space leased among the country’s top seven cities in the April-June period. “Outsourcing work continues to come to India. There was deferment of plans earlier, More...

Realty fund inflow jumps 40% on-year in 2017 so far

maximum

With RERA set to bring in more transparency in real estate transactions and the central government’s push to affordable housing, Indian real estate is witnessing a robust rise in investment inflow as both foreign and domestic institutional investors are infusing more funds into the sector. There has been a 40% on-year jump in inflow of funds in the Indian property market since the beginning of this year. Institutional investors, including private equity, pension funds, sovereign funds, domestic More...

Haryana RERA: Homebuyers threaten to move HC if Act gets diluted

capitalcomment

With the Haryana state government set to notify its version of the Real Estate (Regulation and Development) Act by July 31, a group of homebuyers has cautioned that it will not shy away from moving the high court if what gets notified is found to be diluting any of the provisions of the central law. Haryana state government had published draft rules of Haryana RERA towards the end of April, when it met with widespread protests from homebuyers who found certain provisions of the draft rules “pro-builder.” More...

Solid waste mgmt projects get exemption from taking prior green nod

capital

In a move to give a boost to its Swachh Bharat Mission, the environment ministry has allowed a blanket exemption to all solid waste management projects from seeking prior environmental clearances. The exemption from prior environmental clearances for projects, with the exception of landfill sites, comes as a major relief for Modi government’s cleanliness initiative as it would reduce the time taken by waste treatment projects to start their work. As per admission by urban development ministry officials More...

Housing societies on govt plots may get ownership in Maharashtra

mumbai

The state revenue department is expected to let collector land be converted into freehold plots upon payment of a premium. The move would benefit around 3,000 housing societies in the city area alone, and also some 22,000 such societies spread out across the state. Salil Rameshchandra, a resident of Chembur’s Shivshristi housing society, said conversion to freehold would simplify things and rid them of red tape. “Now for every change, transfer we need prior permission from the government. More...

Tamil Nadu to create RERA-like rent authority under act

bengaluru

The Tamil Nadu state government on Friday introduced a bill in the assembly to promulgate the Tamil Nadu Regulation of Right and Responsibilities of Landlords and Tenants Act, 2017. The bill was tabled in the House by Housing and urban development minister Udumalai K Radhakrishnan. The new legislation will repeal and replace the existing Tamil Nadu Building (Lease and Rent) Control Act, 1960. As per provisions of this act, the government wants to create a rent authority, a court and tribunal to deal More...