{"id":565,"date":"2023-03-12T19:31:00","date_gmt":"2023-03-12T19:31:00","guid":{"rendered":"https:\/\/simplease.in\/blog\/?p=565"},"modified":"2025-09-01T14:59:21","modified_gmt":"2025-09-01T09:29:21","slug":"weekly-real-estate-news-tracker-12-march-2023","status":"publish","type":"post","link":"https:\/\/simplease.in\/blog\/?p=565","title":{"rendered":"Weekly Real Estate News Tracker- 12 March, 2023"},"content":{"rendered":"\r\n<p class=\"has-medium-font-size\">A lot of activity happened in the Real estate sector this week and you wouldn\u2019t want to miss out on any of it! Here\u2019s this week\u2019s news, Simplease Edition :<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"600\" class=\"wp-image-566\" src=\"https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/03\/Untitled-design-2-1.png\" alt=\"\" srcset=\"https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/03\/Untitled-design-2-1.png 800w, https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/03\/Untitled-design-2-1-300x225.png 300w, https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/03\/Untitled-design-2-1-768x576.png 768w, https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/03\/Untitled-design-2-1-200x150.png 200w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\r\n\r\n\r\n\r\n<p class=\"has-large-font-size\" style=\"font-style: normal; font-weight: bold;\">INDIA UPDATES<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">1. Real estate projects becoming unviable due to high construction, capital cost: Tata Realty MD &amp; CEO<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">When asked about the factors making projects unviable, Dutt pointed out, &#8220;Real estate requires a lot of capital in India, first of all to acquire land. In major cities such as NCR, Mumbai and Bengaluru, it (land cost) is almost 50 per cent of the project cost<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<br \/><a href=\"https:\/\/realty.economictimes.indiatimes.com\/news\/industry\/real-estate-projects-becoming-unviable-due-to-high-construction-capital-cost-tata-realty-md-ceo\/98466064\">https:\/\/realty.economictimes.indiatimes.com\/news\/industry\/real-estate-projects-becoming-unviable-due-to-high-construction-capital-cost-tata-realty-md-ceo\/98466064<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 56px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">2. Registration of housing properties in Hyderabad slips 3% in February<\/p>\r\n\r\n\r\n\r\n<p>The residential market includes four districts, namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. The total value of properties registered stood at\u00a0\u20b92,816 crore in February against\u00a0\u20b92,837.7 crore in the year-ago period.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www.hindustantimes.com\/real-estate\/registration-of-housing-properties-in-hyderabad-slips-3-in-february-report-101678355137765.html\">https:\/\/www.hindustantimes.com\/real-estate\/registration-of-housing-properties-in-hyderabad-slips-3-in-february-report-101678355137765.html<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 56px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">3. India\u2019s savings rate exceeds UK, US, Brazil\u2019s. Real challenge is turning it into investment<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">In &#8216;Grasping Greatness&#8217;, Ila Patnaik and Radhika Pandey analyse savings and capital formation in India<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/theprint.in\/pageturner\/indias-savings-rate-exceeds-uk-us-brazils-real-challenge-is-turning-it-into-investment\/1400591\/\" data-type=\"URL\" data-id=\"https:\/\/theprint.in\/pageturner\/indias-savings-rate-exceeds-uk-us-brazils-real-challenge-is-turning-it-into-investment\/1400591\/\">https:\/\/theprint.in\/pageturner\/indias-savings-rate-exceeds-uk-us-brazils-real-challenge-is-turning-it-into-investment\/1400591\/<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 56px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">4. Embassy Group sells 4.2 crore shares in Embassy REIT to Bain Capital for Rs 1,250-1,300 crore<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">Realty firm Embassy Property Developments Pvt Ltd has sold 4.2 crore shares in Embassy Office Parks REIT to Bain Capital for Rs 1,250-1,300 crore to pare debt.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www.moneycontrol.com\/news\/companies-2\/embassy-group-sells-4-2-crore-shares-in-embassy-reit-to-bain-capital-for-rs-1250-1300-crore-10196511.html\" data-type=\"URL\" data-id=\"https:\/\/www.moneycontrol.com\/news\/companies-2\/embassy-group-sells-4-2-crore-shares-in-embassy-reit-to-bain-capital-for-rs-1250-1300-crore-10196511.html\">https:\/\/www.moneycontrol.com\/news\/companies-2\/embassy-group-sells-4-2-crore-shares-in-embassy-reit-to-bain-capital-for-rs-1250-1300-crore-10196511.html<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 56px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">5. Raheja Realty among seven prospective applicants for Asian Hotels<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">K Raheja Realty is one of the seven prospective bidders who have expressed interest for bankrupt Asian Hotels (West), which operates Hyatt Regency hotel in Mumbai, sources said.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www.thehindubusinessline.com\/companies\/raheja-realty-among-seven-prospective-applicants-for-asian-hotels\/article66596099.ece\" data-type=\"URL\" data-id=\"https:\/\/www.thehindubusinessline.com\/companies\/raheja-realty-among-seven-prospective-applicants-for-asian-hotels\/article66596099.ece\">https:\/\/www.thehindubusinessline.com\/companies\/raheja-realty-among-seven-prospective-applicants-for-asian-hotels\/article66596099.ece<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 54px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">6. Sebi revokes securities market ban on eight former promoter entities of DHFL<\/p>\r\n\r\n\r\n\r\n<p>Sebi on Friday revoked the securities market ban imposed on eight former promoter entities of Dewan Housing Finance Ltd (DHFL) in a case pertaining to alleged fraudulent financial transactions.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><br \/>Read more at:<br \/><a href=\"https:\/\/realty.economictimes.indiatimes.com\/news\/regulatory\/sebi-revokes-securities-market-ban-on-eight-former-promoter-entities-of-dhfl\/98556632\">https:\/\/realty.economictimes.indiatimes.com\/news\/regulatory\/sebi-revokes-securities-market-ban-on-eight-former-promoter-entities-of-dhfl\/98556632<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 56px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p>==============================<\/p>\r\n\r\n\r\n\r\n<p class=\"has-large-font-size\" style=\"font-style: normal; font-weight: bold;\">MUMBAI UPDATES<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">1. Over 4 lakh apartments in Maharashtra worth over Rs 1 lakh crore fall under lapsed real estate projects class.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">Of the total, 70 percent of the lapsed projects are present in Mumbai Metropolitan Region and Pune. Nashik, Aurangabad and Nagpur have 254, 102, and 202 lapsed projects, respectively.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www.moneycontrol.com\/news\/business\/real-estate\/mc-exclusive-over-4-lakh-apartments-in-maharashtra-worth-over-rs-1-lakh-crore-fall-under-lapsed-real-estate-projects-class-maharera-data-10230461.html\" data-type=\"URL\" data-id=\"https:\/\/www.moneycontrol.com\/news\/business\/real-estate\/mc-exclusive-over-4-lakh-apartments-in-maharashtra-worth-over-rs-1-lakh-crore-fall-under-lapsed-real-estate-projects-class-maharera-data-10230461.html\">https:\/\/www.moneycontrol.com\/news\/business\/real-estate\/mc-exclusive-over-4-lakh-apartments-in-maharashtra-worth-over-rs-1-lakh-crore-fall-under-lapsed-real-estate-projects-class-maharera-data-10230461.html<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 56px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p style=\"font-style: normal; font-weight: 600;\">2. Maharashtra Budget: 1% stamp duty waiver for women homebuyers to continue<\/p>\r\n\r\n\r\n\r\n<p>The Budget has proposed continuation of the 1\u00a0percent\u00a0stamp duty waiver to women homebuyers. It has also proposed a new housing scheme named &#8216;Modi Awas Gharkul Yojana&#8217; with the aim of constructing 10 lakh homes for other backward classes (OBC).<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www-moneycontrol-com.cdn.ampproject.org\/c\/s\/www.moneycontrol.com\/news\/business\/real-estate\/maharashtra-budget-1-stamp-duty-waiver-for-women-homebuyers-to-continue-10225071.html\/amp\" data-type=\"URL\" data-id=\"https:\/\/www-moneycontrol-com.cdn.ampproject.org\/c\/s\/www.moneycontrol.com\/news\/business\/real-estate\/maharashtra-budget-1-stamp-duty-waiver-for-women-homebuyers-to-continue-10225071.html\/amp\">https:\/\/www-moneycontrol-com.cdn.ampproject.org\/c\/s\/www.moneycontrol.com\/news\/business\/real-estate\/maharashtra-budget-1-stamp-duty-waiver-for-women-homebuyers-to-continue-10225071.html\/amp<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 58px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">3. Labdhi Lifestyle to take over Rajesh LifeSpaces&#8217; project in Mumbai<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">Labdhi Lifestyle will be investing over Rs 200 crore to develop a mixed-use project including repayment of debt raised from both the lenders. It will now be the lenders. It will now be the lead developer of the project giving it a revenue earning potential of Rs. 600 crore, expected to be completed within the next two years<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<br \/><a href=\"https:\/\/realty.economictimes.indiatimes.com\/news\/industry\/labdhi-lifestyle-to-take-over-rajesh-lifespaces-project-in-mumbai\/98506479\">https:\/\/realty.economictimes.indiatimes.com\/news\/industry\/labdhi-lifestyle-to-take-over-rajesh-lifespaces-project-in-mumbai\/98506479<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 56px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">4. Pune citizens clamour for speedy disposal of MahaRERA cases<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">With over 6,000 complaints pending with the Maharashtra Real Estate Regulatory Authority (MahaRERA), citizens&#8217; groups have demanded speedy disposal of cases and appointment of more adjudicating members to hear the pending cases at the earliest.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/timesofindia.indiatimes.com\/city\/pune\/pune-citizens-clamour-for-speedy-disposal-of-maharera-cases\/articleshow\/98487583.cms\" data-type=\"URL\" data-id=\"https:\/\/timesofindia.indiatimes.com\/city\/pune\/pune-citizens-clamour-for-speedy-disposal-of-maharera-cases\/articleshow\/98487583.cms\">https:\/\/timesofindia.indiatimes.com\/city\/pune\/pune-citizens-clamour-for-speedy-disposal-of-maharera-cases\/articleshow\/98487583.cms<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 56px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">5. Luxembourg realty investment company\u2019s India arm buys land, bungalow in Mumbai\u2019s Santacruz<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">Luxembourg-based real estate investment company Luxembourg REO Company SARL\u2019s subsidiary Picard Angst India has acquired a bungalow spread over a 2.8-acre land parcel in Mumbai\u2019s western suburb of Santacruz for over Rs 86.52 crore.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<br \/><a href=\"https:\/\/tinyurl.com\/2h9k6pya\" data-type=\"URL\" data-id=\"https:\/\/tinyurl.com\/2h9k6pya\">https:\/\/tinyurl.com\/2h9k6pya<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 53px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">6. K Raheja Corp buys rights for 1.53 lakh sq ft FSI in Mumbai\u2019s Wadala for Rs 275 cr<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">Realty developer K Raheja Corp has acquired floor space index (FSI) rights of nearly 1.53 lakh sq ft in central Mumbai\u2019s Wadala locality for over Rs 275 crore from a joint venture between MM Developer and Saroj Landmark Realty LLP.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<br \/><a href=\"https:\/\/tinyurl.com\/39aduvy3\" data-type=\"URL\" data-id=\"https:\/\/tinyurl.com\/39aduvy3\">https:\/\/tinyurl.com\/39aduvy3<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 55px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">7. Sunteck Realty leases Mumbai office space to Upgrad for Rs 2,000 cr for 29 years<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">Listed developer\u00a0<a href=\"https:\/\/www.moneycontrol.com\/india\/stockpricequote\/constructioncontracting-real-estate\/sunteckrealty\/SR05\">Sunteck Realty Ltd<\/a>\u00a0(SRL) has signed a lease deal with edtech firm\u00a0<a href=\"https:\/\/www.moneycontrol.com\/news\/tags\/upgrad.html\">Upgrad<\/a>\u00a0for the former\u2019s premium commercial project, Sunteck BKC51, in\u00a0<a href=\"https:\/\/www.moneycontrol.com\/news\/tags\/bandra-kurla-complex-(bkc).html\">Bandra Kurla Complex (BKC)<\/a>\u00a0commercial hub in Mumbai. The lease is expected to generate Rs 2,000 crore for 29 years.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www.moneycontrol.com\/news\/business\/real-estate\/sunteck-realty-leases-mumbai-office-space-to-upgrad-for-rs-2000-cr-for-29-years-10186251.html\" data-type=\"URL\" data-id=\"https:\/\/www.moneycontrol.com\/news\/business\/real-estate\/sunteck-realty-leases-mumbai-office-space-to-upgrad-for-rs-2000-cr-for-29-years-10186251.html\">https:\/\/www.moneycontrol.com\/news\/business\/real-estate\/sunteck-realty-leases-mumbai-office-space-to-upgrad-for-rs-2000-cr-for-29-years-10186251.html<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 52px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p>===================================<\/p>\r\n\r\n\r\n\r\n<p class=\"has-large-font-size\" style=\"font-style: normal; font-weight: bold;\">GURUGRAM UPDATES<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">1. NCLT gives approval to Max Estates&#8217; bid to acquire &#8216;Delhi One&#8217; project in Noida<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">Max Group&#8217;s realty firm Max Estates on Friday said the National Company Law Tribunal (NCLT) has approved its bid to acquire a stalled mixed-use project &#8216;Delhi One&#8217; in Noida through insolvency process &#8211; a development that will bring relief to nearly 300 stuck customers.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<br \/><a href=\"https:\/\/realty.economictimes.indiatimes.com\/news\/industry\/nclt-gives-approval-to-max-estates-bid-to-acquire-stalled-mixed-use-project-delhi-one-in-noida\/98556207\">https:\/\/realty.economictimes.indiatimes.com\/news\/industry\/nclt-gives-approval-to-max-estates-bid-to-acquire-stalled-mixed-use-project-delhi-one-in-noida\/98556207<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 57px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">2. Branded real estate developers make a beeline for Noida and Gurugram with luxury launches<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">Most of these are expected to be priced at Rs 10,000-20,000 per square foot and offer separate clubs, spas, Italian flooring and concierge services as the rise in work-from-home post-pandemic spurs demand for luxury apartments.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www.moneycontrol.com\/news\/business\/branded-real-estate-developers-make-a-beeline-for-noida-and-gurugram-with-luxury-launches-10227521.html\" data-type=\"URL\" data-id=\"https:\/\/www.moneycontrol.com\/news\/business\/branded-real-estate-developers-make-a-beeline-for-noida-and-gurugram-with-luxury-launches-10227521.html\">https:\/\/www.moneycontrol.com\/news\/business\/branded-real-estate-developers-make-a-beeline-for-noida-and-gurugram-with-luxury-launches-10227521.html<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 54px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">3. RateGain&#8217;s founder buys bungalow in Delhi&#8217;s Golf Links for Rs 127.5 crore<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">According to registry documents accessed by Zapkey, the property was registered on February 24 in the names of Bhanu Chopra and Megha Chopra, and they paid Rs 6.79 crore in stamp duty to Rategain founder Bhanu Chopra for the transaction.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><br \/>Read more at:<br \/><a href=\"https:\/\/realty.economictimes.indiatimes.com\/news\/residential\/rategains-founder-buys-bungalow-in-delhis-golf-links-for-rs-127-5-crore\/98532060\">https:\/\/realty.economictimes.indiatimes.com\/news\/residential\/rategains-founder-buys-bungalow-in-delhis-golf-links-for-rs-127-5-crore\/98532060<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 54px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">4. Baring PE Asia looks to pick up stake in Shriram Housing Finance<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">BPEA EQT, formerly Baring PE Asia, is in advanced negotiations to buy into Shriram Housing Finance Ltd (SHFL), a mortgage subsidiary of Shriram Finance, people familiar with the matter said.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<br \/><a href=\"https:\/\/tinyurl.com\/mrxxmjts\" data-type=\"URL\" data-id=\"https:\/\/tinyurl.com\/mrxxmjts\">https:\/\/tinyurl.com\/mrxxmjts<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 50px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">5. Big relief for 20,000 homebuyers: NCLT approves Jaypee Infra<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">In a big relief for over 20,000\u00a0homebuyers, the National Company Law Tribunal (NCLT) on\u00a0Tuesday cleared the Mumbai-based Suraksha group&#8217;s bid to buy\u00a0Jaypee\u00a0Infratech Ltd through the insolvency process.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<br \/><a href=\"http:\/\/timesofindia.indiatimes.com\/articleshow\/98479093.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst&amp;pcode=461\">http:\/\/timesofindia.indiatimes.com\/articleshow\/98479093.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst&amp;pcode=461<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 52px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">6. Noida International Airport may spur 30-40% increase in land prices: CEO YEIDA<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">Noida International Airport, the flagship project of the Uttar Pradesh government, is expected to lead to a 30 to 40 percent increase in current land prices in the next one-and-a-half years, according to a top official.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www.moneycontrol.com\/news\/business\/real-estate\/noida-international-airport-may-spur-30-40-increase-in-land-prices-ceo-yeida-10207001.html\">https:\/\/www.moneycontrol.com\/news\/business\/real-estate\/noida-international-airport-may-spur-30-40-increase-in-land-prices-ceo-yeida-10207001.html<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 50px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p>==============================<\/p>\r\n\r\n\r\n\r\n<p class=\"has-large-font-size\" style=\"font-style: normal; font-weight: bold;\">GLOBAL UPDATES<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">1. Luxury home sales plunge 45%, with Miami and the Hamptons hit hardest<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">The U.S. housing market is taking a hard hit from higher mortgage rates, and luxury home sales are seeing the worst of it.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www.cnbc.com\/2023\/03\/10\/luxury-home-sales-plunge-miami-hamptons.html\">https:\/\/www.cnbc.com\/2023\/03\/10\/luxury-home-sales-plunge-miami-hamptons.html<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 51px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">2. Sizing up Silicon Valley Bank\u2019s real estate exposure<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">The stunning failure of Silicon Valley Bank, which was\u00a0<a href=\"https:\/\/www.reuters.com\/business\/finance\/global-markets-banks-wrapup-1-2023-03-10\/\" target=\"_blank\" rel=\"noreferrer noopener\">shut down<\/a>\u00a0by state regulators and taken over by the Federal Deposit Insurance Corporation on Friday morning, sent shockwaves through the tech industry. But it could have major implications for real estate too.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/therealdeal.com\/sanfrancisco\/2023\/03\/10\/sizing-up-silicon-valley-banks-real-estate-exposure\/\">https:\/\/therealdeal.com\/sanfrancisco\/2023\/03\/10\/sizing-up-silicon-valley-banks-real-estate-exposure\/<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 54px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">3. US Real estate brokerage firm Douglas Elliman loses $18M in Q4<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">Perhaps no other\u00a0<a href=\"https:\/\/therealdeal.com\/magazine\/national-march-2023\/nycs-top-residential-brokerages\/\">residential brokerage\u2019s financials<\/a>\u00a0better illustrate the market\u2019s fall from 2021 to the end of 2022 than those reported in Douglas Elliman\u2019s fourth-quarter earnings.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/therealdeal.com\/national\/2023\/03\/10\/douglas-elliman-loses-18m-in-the-fourth-quarter\/\">https:\/\/therealdeal.com\/national\/2023\/03\/10\/douglas-elliman-loses-18m-in-the-fourth-quarter\/<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 53px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">4. London Has Become the Land of the \u00a31 Million Home<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">There was a time when being a property millionaire, with a home worth north of \u00a31 million\u2014or about $1.186 million\u2014meant something in the British capital. Today, not so much.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www.wsj.com\/articles\/london-has-become-the-land-of-the-1-million-home-b610de5f?reflink=desktopwebshare_permalink\">https:\/\/www.wsj.com\/articles\/london-has-become-the-land-of-the-1-million-home-b610de5f?reflink=desktopwebshare_permalink<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 59px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">5. Spotlight: real estate ownership issues in Singapore<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">Here&#8217;s all you need to know about the intricacies of real estate ownership in Singapore<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www.lexology.com\/library\/detail.aspx?g=bac1216a-13cb-4a8a-8c56-9d2433f7e817\">https:\/\/www.lexology.com\/library\/detail.aspx?g=bac1216a-13cb-4a8a-8c56-9d2433f7e817<\/a><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 51px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\" style=\"font-style: normal; font-weight: 600;\">6. CoreLogic reveals house prices across Australia have plummeted to record low with Sydney leading the decline<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\">The property market in Australia has faced the largest annual decline on record.\u00a0CoreLogic Australia on Thursday revealed house prices had dropped 7.9 per cent over the year to February, the largest 12-month decline ever recorded.\u00a0<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\">Read more at:<\/p>\r\n\r\n\r\n\r\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www.skynews.com.au\/australia-news\/corelogic-reveals-house-prices-across-australia-have-plummeted-to-record-low-with-sydney-leading-the-decline\/news-story\/2b30bd6973c7bac2fb2185bb19bc894a\">https:\/\/www.skynews.com.au\/australia-news\/corelogic-reveals-house-prices-across-australia-have-plummeted-to-record-low-with-sydney-leading-the-decline\/news-story\/2b30bd6973c7bac2fb2185bb19bc894a<\/a><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>A lot of activity happened in the Real estate sector this week and you wouldn\u2019t want to miss out on any of it! Here\u2019s this week\u2019s news, Simplease Edition : INDIA UPDATES 1. Real estate projects becoming unviable due to high construction, capital cost: Tata Realty MD &amp; CEO When asked about the factors making [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[57,64,56,54,47,6],"class_list":["post-565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-weeklynewstracker","tag-gurugram","tag-gurugramrealestate","tag-mumbai","tag-mumbairealestate","tag-propertymanagement","tag-simplease"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Weekly Real Estate News Tracker- 12 March, 2023 - Simplease Insights<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/simplease.in\/blog\/?p=565\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekly Real Estate News Tracker- 12 March, 2023 - Simplease Insights\" \/>\n<meta property=\"og:description\" content=\"A lot of activity happened in the Real estate sector this week and you wouldn\u2019t want to miss out on any of it! Here\u2019s this week\u2019s news, Simplease Edition : INDIA UPDATES 1. Real estate projects becoming unviable due to high construction, capital cost: Tata Realty MD &amp; CEO When asked about the factors making [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/simplease.in\/blog\/?p=565\" \/>\n<meta property=\"og:site_name\" content=\"Simplease Insights\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-12T19:31:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-01T09:29:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/03\/BLOG-IMAGE-22.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Research Team Simplease\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Research Team Simplease\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/simplease.in\/blog\/?p=565\",\"url\":\"https:\/\/simplease.in\/blog\/?p=565\",\"name\":\"Weekly Real Estate News Tracker- 12 March, 2023 - Simplease Insights\",\"isPartOf\":{\"@id\":\"https:\/\/simplease.in\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/simplease.in\/blog\/?p=565#primaryimage\"},\"image\":{\"@id\":\"https:\/\/simplease.in\/blog\/?p=565#primaryimage\"},\"thumbnailUrl\":\"https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/03\/BLOG-IMAGE-22.png\",\"datePublished\":\"2023-03-12T19:31:00+00:00\",\"dateModified\":\"2025-09-01T09:29:21+00:00\",\"author\":{\"@id\":\"https:\/\/simplease.in\/blog\/#\/schema\/person\/84a6dfa3bbe895553569525a7dd38f83\"},\"breadcrumb\":{\"@id\":\"https:\/\/simplease.in\/blog\/?p=565#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/simplease.in\/blog\/?p=565\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/simplease.in\/blog\/?p=565#primaryimage\",\"url\":\"https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/03\/BLOG-IMAGE-22.png\",\"contentUrl\":\"https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/03\/BLOG-IMAGE-22.png\",\"width\":600,\"height\":400,\"caption\":\"Real Estate Weekly News Tracker\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/simplease.in\/blog\/?p=565#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/simplease.in\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Weekly Real Estate News Tracker- 12 March, 2023\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/simplease.in\/blog\/#website\",\"url\":\"https:\/\/simplease.in\/blog\/\",\"name\":\"Simplease Insights\",\"description\":\"Real Estate Made Simple &amp; Easy\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/simplease.in\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/simplease.in\/blog\/#\/schema\/person\/84a6dfa3bbe895553569525a7dd38f83\",\"name\":\"Research Team Simplease\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/simplease.in\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1d5715c4817090f9ae024d19107f54ac034cdb6ee5939e0b7b4194b002a74ebb?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1d5715c4817090f9ae024d19107f54ac034cdb6ee5939e0b7b4194b002a74ebb?s=96&d=mm&r=g\",\"caption\":\"Research Team Simplease\"},\"url\":\"https:\/\/simplease.in\/blog\/?author=2\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Weekly Real Estate News Tracker- 12 March, 2023 - Simplease Insights","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/simplease.in\/blog\/?p=565","og_locale":"en_US","og_type":"article","og_title":"Weekly Real Estate News Tracker- 12 March, 2023 - Simplease Insights","og_description":"A lot of activity happened in the Real estate sector this week and you wouldn\u2019t want to miss out on any of it! 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