HomeGlobalWeekly Real Estate News Tracker- 19 March 2023
Weekly Real Estate News Tracker- 19 March 2023
March 20, 2023
A lot of activity happened in the Real estate sector this week and you wouldn’t want to miss out on any of it! Here’s this week’s news, Simplease Edition :
1. Godrej Properties acquires 28 acres land parcel in Bengaluru
Godrej Properties has entered into a sale deed agreement to acquire land parcel of approximately 28 acres near Whitefield, Bengaluru to develop a mixed-use project comprising apartments and supporting retail development, the company said.
2. Amazon cracks leasing deal with DLF Downtown, Jayabheri Properties to acquire 8 lakh square feet of space in Gurgaon and Hyderabad
According to a lease registration document shared by Propstack, Amazon will be paying a rent of Rs 45 to Rs 52 per sq. ft. for the Orange Towers property in Hyderabad, while the Downtown property in Gurugram will attract a rent of Rs 110.5 per sq. ft. for the lease period.
1. Bajaj Auto’s chairman buys penthouse in Mumbai’s Malabar Hill for Rs 252.5 crore
The apartment is on the 29th, 30th and 31st floors of the super-luxury residential tower, Lodha Malabar, located on the plush Walkeshwar Road, opposite the governor’s estate, touching both the Arabian Sea and the Hanging Gardens.
2. MahaRERA issues notices to 14 projects for advertising without registration number
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has initiated Suo Moto action against realty developers that are advertising housing projects without a registration number from the regulator.
3. HDFC Capital invests Rs 1,450 crore in Kalpataru’s projects, land parcels’ portfolio
Kalpataru will utilise the proceeds for the development of residential apartments across new mid-income projects and also to support completion of existing projects in the Mumbai Metropolitan Region and Pune.
4. Bombay HC restrains Avarsekar Realty from selling unsold flats across projects
Bombay high court recently restrained a builder, Avarsekar Realty Pvt Ltd, from selling any of its unsold flats as on date in a proposed plush 42-storey highrise at Mahim and its other projects till further orders.
8. Dalmia Nisus Finance invests over Rs 125 crore in Puranik Builders’ two projects
The residential projects—Rumah Bali and Tokyo Bay—are spread over a total 30 acres with cumulative development potential of over 3.2 million sq ft in Thane’s Ghodbunder Road and Anand Nagar localities.
Fadnavis further said that the state government will come out with an amnesty scheme for those who have not paid rent and have been sent notices to pay rent, with a penalty and interest over the due amount.
2. Draft master plan for Delhi-2041 likely to be notified by March-end
The Delhi Development Authority (DDA) had earlier this month approved the draft master plan with Lt Governor VK Saxena highlighting its thrust for inclusive development, sustainability and innovative interventions such as transit- oriented development hubs, land pooling, heritage and Yamuna rejuvenation, and regeneration of the city.
3. DDA offers buyback, reconstruction, flat swap options to owners of Signature View apartments
Residents of the structurally damaged Signature View Apartments here have been offered three options — buyback, rent for the time period till the flats are reconstructed or apartments at other locations — by the DDA, officials said on Thursday
4. Gurugram: DTCP directs Chintels India to shift tower E, F residents & pay rent
In a letter to Chintels India, the developer, district town planner (enforcement) Manish Yadav said it has to provide monthly rentals to residents of these two towers at the rate of Rs 15 per square foot.
5. NCLT gives approval to Max Estates’ bid to acquire ‘Delhi One’ project in Noida
“Our resolution plan for Delhi One project has been approved by the NCLT. A Committee of Creditors (CoC) had approved our plan in 2019,” Max Ventures and Industries Ltd MaxVIL MD and CEO Sahil Vachani told reporters on Friday.
6. Delhi HC dismisses plea by home buyers against loan EMIs without possession of flat
The petitioners before the court included Supertech Urban Home Buyers Association (SUHA) Foundation, consisting of 123 home buyers, and other similarly placed people who have taken home loans from banks and financial institutions on the basis of subvention scheme
8. Not paid tax dues? Gurugram civic body set to serve notices to defaulters, seal properties
Moreover, the commissioner also asked the officials to recheck the properties which have been registered for change in use. Around 1,244 commercial properties have changed their use to residential properties, causing revenue loss to the civic body
1. The U.S. housing market could face 2 big changes in the wake of Silicon Valley Bank’s collapse, says Zillow
The recent collapse of Silicon Valley Bank has sent shock waves through the real estate industry as builders and agents alike scramble to understand what it means for mortgage rates and the economy at large.
4. Singapore’s CapitaLand in talks to buy Vietnam property assets from Vinhomes
Asian real estate giant CapitaLand Group is in talks to acquire assets worth roughly $1.5 billion from Vietnam’s biggest listed property firm Vinhomes JSC (VHM.HM), two sources familiar with the matter told Reuters.
6. Australia records largest drop in house and unit values within one year, CoreLogic data shows
Australia has recorded its largest decline in property values on record, with values dropping by 7.9 per cent in a year and the median value of dwellings in more than 200 suburbs dipping below $1 million.