{"id":679,"date":"2023-02-13T03:59:00","date_gmt":"2023-02-13T03:59:00","guid":{"rendered":"https:\/\/simplease.in\/blog\/?p=679"},"modified":"2025-08-26T12:16:39","modified_gmt":"2025-08-26T06:46:39","slug":"weekly-real-estate-news-tracker-12-february-2023","status":"publish","type":"post","link":"https:\/\/simplease.in\/blog\/?p=679","title":{"rendered":"Weekly Real Estate News Tracker- 12 February 2023"},"content":{"rendered":"\r\n

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

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INDIA UPDATES<\/p>\r\n\r\n\r\n\r\n

1. RBI hikes repo rate again, home loans to get costlier<\/p>\r\n\r\n\r\n\r\n

The Reserve Bank of India (RBI) has revised the repo rate for the last time this Financial Year (FY) 2022-23. After a 25 basis point (bps) hike, the repo rate now stands at 6.5 percent.<\/p>\r\n\r\n\r\n\r\n

Read more at:<\/p>\r\n\r\n\r\n\r\n

https:\/\/www.99acres.com\/articles\/home-loans-become-expensive-as-banks-hike-mclr-by-up-to-10-basis-points-nid.html<\/a><\/p>\r\n\r\n\r\n\r\n

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2. Delhi-Mumbai expressway: Delhi-Dausa-Lalsot stretch to be inaugurated by PM\u00a0Modi\u00a0on\u00a0February\u00a012<\/p>\r\n\r\n\r\n\r\n

A 246-kilometre stretch of the Delhi Mumbai Expressway between Delhi and Dausa and Lalsot has been built at a cost of about Rs 12,150 crore.<\/p>\r\n\r\n\r\n\r\n

Read more at:<\/p>\r\n\r\n\r\n\r\n

https:\/\/www.dnaindia.com\/india\/report-delhi-mumbai-expressway-delhi-dausa-lalsot-stretch-to-be-inaugurated-by-pm-modi-on-february-12-3023025<\/a><\/p>\r\n\r\n\r\n\r\n

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3. In Apr-Dec, Godrej Properties sales bookings rise 77% to\u00a0\u20b98,181cr<\/p>\r\n\r\n\r\n\r\n

Realty firm\u00a0Godrej Properties sales bookings<\/a>\u00a0rose 77 per cent year-on-year to\u00a0\u20b98,181 crore in the April-December period on\u00a0strong housing demand<\/a>, and will cross the target of\u00a0\u20b910,000 crore for the full fiscal, its Executive Chairman Pirojsha Godrej said.<\/p>\r\n\r\n\r\n\r\n

Read more at:<\/p>\r\n\r\n\r\n\r\n

https:\/\/www.hindustantimes.com\/real-estate\/godrej-properties-sales-bookings-rise-77-to-rs-8-181cr-in-aprdec-101675556611683.html<\/a><\/p>\r\n\r\n\r\n\r\n

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4. Puravankara records highest-ever sales at Rs 796 cr in Q3FY23<\/p>\r\n\r\n\r\n\r\n

The area sold by the developer during Q3FY23 was 1.02 msft (3% YoY). The sales value stood at Rs 796 crore (+20% YoY) while sales realisation was at Rs 7,767 per sq ft (15%y oy).<\/p>\r\n\r\n\r\n\r\n

Read more at:<\/p>\r\n\r\n\r\n\r\n

https:\/\/housing.com\/news\/puravankara-records-highest-ever-sales-at-rs-796-cr-in-q3fy23\/<\/a><\/p>\r\n\r\n\r\n\r\n

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5. Indiabulls Real Estate posts 236.77 crore loss in Oct-Dec Quarter<\/p>\r\n\r\n\r\n\r\n

Indiabulls Real Estate Ltd (IBREAL) has posted a consolidated net loss of\u00a0\u20b9236.77 crore for the third quarter of this fiscal year on a lower income. Its net loss stood at\u00a0\u20b987.04 crore in the year-ago period, according to a regulatory filing.<\/p>\r\n\r\n\r\n\r\n

Read more at:<\/p>\r\n\r\n\r\n\r\n

https:\/\/www.livemint.com\/news\/indiabulls-real-estate-posts-rs-236-77-cr-loss-in-oct-dec-quarter-11676112000111.html<\/a><\/p>\r\n\r\n\r\n\r\n

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======================<\/p>\r\n\r\n\r\n\r\n

MUMBAI NEWS<\/p>\r\n\r\n\r\n\r\n

1. Welspun Group’s chairman buys penthouse in Worli for Rs 240 crore<\/p>\r\n\r\n\r\n\r\n

B K Goenka, chairman of Welspun Group, has purchased the triplex (through a group company) in Three Sixty West, a luxury project at Annie Besant Road, Worli.<\/p>\r\n\r\n\r\n\r\n

Read more at:
https:\/\/realty.economictimes.indiatimes.com\/news\/residential\/mumbai-welspun-groups-chairman-buys-penthouse-in-worli-for-rs-240-crore\/97789495<\/a><\/p>\r\n\r\n\r\n\r\n

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2. Damanis buy 24 luxury apartments for Rs 1,500 crore in Worli, Mumbai<\/p>\r\n\r\n\r\n\r\n

DMart retail chain founder Radhakishan Damani and his family have purchased 24 luxury apartments worth about \u20b91,500 crore in a super-premium project in Mumbai’s Worli locality, people aware of the transaction said, in what would be the country’s largest residential portfolio deal till date.<\/p>\r\n\r\n\r\n\r\n

Read more at:
https:\/\/realty.economictimes.indiatimes.com\/news\/residential\/damanis-buy-24-luxury-apartments-for-rs-1500-crore-in-worli-mumbai\/97620471<\/a><\/p>\r\n\r\n\r\n\r\n

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3. Oberoi Realty buys 63 residential units in luxury housing project in Mumbai<\/p>\r\n\r\n\r\n\r\n

Mumbai-based Oberoi Realty has bought 63 residential units comprising over 5 lakh square feet in a luxury housing project at Worli in Mumbai.<\/p>\r\n\r\n\r\n\r\n

Read more at:
https:\/\/realty.economictimes.indiatimes.com\/news\/residential\/oberoi-realty-buys-63-residential-units-in-luxury-housing-project-in-mumbai\/97620178<\/a><\/p>\r\n\r\n\r\n\r\n

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4. Brookfield in talks to sell 50% stake in Mumbai office assets to Singapore\u2019s GIC for $1.5 billion<\/p>\r\n\r\n\r\n\r\n

Brookfield Asset Management Company is in talks with Singapore\u2019s sovereign wealth fund GIC to sell half its stake in the special purpose vehicle that is holding its office assets in Powai, Mumbai for $1.5 billion, two sources with knowledge of the deal said.<\/p>\r\n\r\n\r\n\r\n

Read more at:<\/p>\r\n\r\n\r\n\r\n

https:\/\/www.thehindubusinessline.com\/news\/real-estate\/brookfield-in-talks-to-sell-50-stake-in-mumbai-office-assets-to-singapores-gic-for-15-billion\/article66462482.ece<\/a><\/p>\r\n\r\n\r\n\r\n

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5. NRI businessman Jai Mahtani buys flat in South Mumbai for over Rs 83 crore<\/p>\r\n\r\n\r\n\r\n

The deal for the apartment, spread over a carpet area of 5,211 sq ft, is valued at around Rs 1.60 lakh per sq ft, making it one of the costliest property transactions in the country.<\/p>\r\n\r\n\r\n\r\n

Read more at:
https:\/\/realty.economictimes.indiatimes.com\/news\/residential\/nri-businessman-jai-mahtani-buys-flat-in-south-mumbai-for-over-rs-83-crore\/97634374<\/a><\/p>\r\n\r\n\r\n\r\n

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6. MahaRERA allows deregistration of a real estate project by developers with conditions<\/p>\r\n\r\n\r\n\r\n

The MahaRERA said the process of deregistration is being introduced as there are instances where developers who have registered their real estate projects are unable to commence and complete the construction of the same.<\/p>\r\n\r\n\r\n\r\n

Read more at:<\/p>\r\n\r\n\r\n\r\n

https:\/\/www.moneycontrol.com\/news\/business\/real-estate\/maharera-allows-deregistration-of-a-real-estate-project-by-developers-with-conditions-10054641.html<\/a><\/p>\r\n\r\n\r\n\r\n

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7. Hindalco leases 50,000 sq ft office space in Blackstone’s Mumbai tower<\/p>\r\n\r\n\r\n\r\n

The company will be paying total rent of nearly Rs 54 crore for these five years\u00a0including a 15% rent escalation after the first 36 months.<\/p>\r\n\r\n\r\n\r\n

Read more at:
https:\/\/realty.economictimes.indiatimes.com\/news\/commercial\/hindalco-leases-50000-sq-ft-office-space-in-blackstones-mumbai-tower\/97789449<\/a><\/p>\r\n\r\n\r\n\r\n

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8. Arkade Group buys Rs 103-crore plot from Bajaj group firm in Mumbai<\/p>\r\n\r\n\r\n\r\n

Arkade Group will also launch two other projects in the second and third quarter\u00a0of 2023, for which the combined top-line is Rs 800 crore.<\/p>\r\n\r\n\r\n\r\n

Read more at:
https:\/\/realty.economictimes.indiatimes.com\/news\/industry\/arkade-group-buys-rs-103-crore-plot-from-bajaj-group-firm-in-mumbai\/97753363<\/a><\/p>\r\n\r\n\r\n\r\n

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=======================<\/p>\r\n\r\n\r\n\r\n

NCR UPDATES<\/p>\r\n\r\n\r\n\r\n

1. Haryana RERA issues arrest warrant against Shree Vardhman Infrahome’s directors<\/p>\r\n\r\n\r\n\r\n

The court of the adjudicating officer, or AO, issued the warrant on February 7 after hearing the complaints of the allottee, HRERA said in a official statement.<\/p>\r\n\r\n\r\n\r\n

Read more at:
https:\/\/realty.economictimes.indiatimes.com\/news\/regulatory\/h-rera-issues-warrant-to-shree-vardhman-infrahome-for-not-handing-over-property\/97815016<\/a><\/p>\r\n\r\n\r\n\r\n

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2. Orris Infrastructure accuses builder of cheating, Godrej Air buyers in a fix<\/p>\r\n\r\n\r\n\r\n

In December last year, the court of an additional district judge had ordered to freeze 16 bank accounts of the residential housing project after Orris had filed\u00a0a petition, alleging siphoning of funds by Godrej Properties.<\/p>\r\n\r\n\r\n\r\n

Read more at:
https:\/\/realty.economictimes.indiatimes.com\/news\/residential\/gurugram-orris-infrastructure-accuses-builder-of-cheating-godrej-air-buyers-in-a-fix\/97634289<\/a><\/p>\r\n\r\n\r\n\r\n

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3. NGT imposes Rs 113 crore environmental compensation on Wave City’s builder<\/p>\r\n\r\n\r\n\r\n

These agencies were asked to carry out a probe after a Ghaziabad resident had filed a petition in the NGT, alleging the Wave Group flouted environmental norms ranging from groundwater extraction to cutting trees and violated solid waste management\u00a0(SWM) laws as well.<\/p>\r\n\r\n\r\n\r\n

Read more at:
https:\/\/realty.economictimes.indiatimes.com\/news\/regulatory\/ngt-imposes-rs-113-crore-environmental-compensation-on-wave-citys-builder\/97753838<\/a><\/p>\r\n\r\n\r\n\r\n

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4. Survey on illegal colonies in Sohna begins, 12 found so far<\/p>\r\n\r\n\r\n\r\n

Mushrooming of illegal colonies in Sohna and nearby areas is posing a challenge to the civic authorities in developing infrastructure and amenities for newly created sectors.<\/p>\r\n\r\n\r\n\r\n

Read more at:
https:\/\/realty.economictimes.indiatimes.com\/news\/infrastructure\/survey-on-illegal-colonies-in-sohna-begins-12-found-so-far\/97753740<\/a><\/p>\r\n\r\n\r\n\r\n

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5. Gaming tech firm Aristocrat leases 128,000 sq ft of office space at Noida SEZ<\/p>\r\n\r\n\r\n\r\n

The leasing comes at a time when companies are avoiding SEZs and are waiting for\u00a0the Development (Enterprise and Services) Hubs Bill, 2022, to replace the Special Economic Zones Act<\/p>\r\n\r\n\r\n\r\n

Read more at:
https:\/\/realty.economictimes.indiatimes.com\/news\/commercial\/gaming-tech-firm-aristocrat-leases-128000-sq-ft-of-office-space-at-noida-sez\/97714488<\/a><\/p>\r\n\r\n\r\n\r\n

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==============================<\/p>\r\n\r\n\r\n\r\n

GLOBAL UPDATES<\/p>\r\n\r\n\r\n\r\n

1. Proptech fundraising accelerates in Asia-Pacific region on rising demand for decarbonisation in real estate industry<\/p>\r\n\r\n\r\n\r\n

Venture capital firms are speeding up fundraising in property technology in the Asia-Pacific region, as rising demand for climate-friendly upgrades to buildings fuels the fast-growing segment across the globe.<\/p>\r\n\r\n\r\n\r\n

Read more at:<\/p>\r\n\r\n\r\n\r\n

https:\/\/www.scmp.com\/business\/banking-finance\/article\/3209929\/proptech-fundraising-accelerates-asia-pacific-region-rising-demand-decarbonisation-real-estate<\/a><\/p>\r\n\r\n\r\n\r\n

\u00a0<\/div>\r\n\r\n\r\n\r\n

2. Median New York rent passes $4,000 a month in January<\/p>\r\n\r\n\r\n\r\n

CNBC\u2019s Robert Frank joins \u2018Power Lunch\u2019 to discuss why New York rents are remaining high even as rates in the rest of the U.S. drop, increases in the flow of people moving into New York City and the housing deficit there.<\/p>\r\n\r\n\r\n\r\n

Read more at:<\/p>\r\n\r\n\r\n\r\n

https:\/\/www.cnbc.com\/video\/2023\/02\/09\/median-new-york-rent-passes-4000-a-month-in-january.html<\/a><\/p>\r\n\r\n\r\n\r\n

\u00a0<\/div>\r\n\r\n\r\n\r\n

3. London<\/a>\u00a0house prices fell by an average of \u00a311,000 in the first month of 2023, according to new data.\u00a0<\/p>\r\n\r\n\r\n\r\n

The average\u00a0value of homes<\/a>\u00a0fell by roughly \u00a311,073 from \u00a3541,472 to \u00a3530,396 in January compared to the month before.\u00a0According to new data from Halifax, properties across the capital were losing an average of \u00a3350 off their price tag a day.<\/p>\r\n\r\n\r\n\r\n

Read more at:<\/p>\r\n\r\n\r\n\r\n

https:\/\/www.msn.com\/en-gb\/money\/other\/london-house-prices-fell-by-11000-on-average-in-january\/ar-AA17cUEO<\/a><\/p>\r\n\r\n\r\n\r\n

\u00a0<\/div>\r\n\r\n\r\n\r\n

4. Billionaire Wee Cho Yaw\u2019s UOL Buys Singapore Suburban Redevelopment Property For $295 Million<\/p>\r\n\r\n\r\n\r\n

A joint venture between\u00a0UOL Group<\/a>\u00a0and Singapore Land\u2014both controlled by billionaire\u00a0Wee Cho Yaw<\/a>\u2014is buying the Meyer Park condominium in the eastern Singapore suburb of Katong for S$392.2 million ($295 million) as the real estate developer continues to replenish its landbank to tap into resilient housing demand in the city-state.<\/p>\r\n\r\n\r\n\r\n

Read more at:<\/p>\r\n\r\n\r\n\r\n

https:\/\/www.msn.com\/en-us\/money\/realestate\/billionaire-wee-cho-yaw-s-uol-buys-singapore-suburban-redevelopment-property-for-295-million\/ar-AA17jIJn<\/a><\/p>\r\n\r\n\r\n\r\n

\u00a0<\/div>\r\n\r\n\r\n\r\n

5. Wuhan eases housing curbs, paves way for other cities in China<\/p>\r\n\r\n\r\n\r\n

With a population of 13 million, Wuhan is the first major city to clearly allow homeowners to buy additional units, easing a ban put in place in many metropolitan areas to prevent speculation.<\/p>\r\n\r\n\r\n\r\n

Read more at:<\/p>\r\n\r\n\r\n\r\n

https:\/\/www.hindustantimes.com\/real-estate\/wuhan-eases-housing-curbs-paves-way-for-other-cities-in-china-101675750760382.html<\/a><\/p>\r\n","protected":false},"excerpt":{"rendered":"

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. RBI hikes repo rate again, home loans to get costlier The Reserve Bank of India (RBI) has revised the repo rate for […]<\/p>\n","protected":false},"author":2,"featured_media":1533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[65,19,20,18],"tags":[57,64,56,54,47,52,49,6],"class_list":["post-679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global","category-gurgaon","category-india","category-mumbai","tag-gurugram","tag-gurugramrealestate","tag-mumbai","tag-mumbairealestate","tag-propertymanagement","tag-realestate","tag-residentialrealestate","tag-simplease"],"yoast_head":"\nWeekly Real Estate News Tracker- 12 February 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=679\" \/>\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 February 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! 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RBI hikes repo rate again, home loans to get costlier The Reserve Bank of India (RBI) has revised the repo rate for […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/simplease.in\/blog\/?p=679\" \/>\n<meta property=\"og:site_name\" content=\"Simplease Insights\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-13T03:59:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-26T06:46:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/02\/BLOG-IMAGE-21.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=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/simplease.in\/blog\/?p=679\",\"url\":\"https:\/\/simplease.in\/blog\/?p=679\",\"name\":\"Weekly Real Estate News Tracker- 12 February 2023 - Simplease Insights\",\"isPartOf\":{\"@id\":\"https:\/\/simplease.in\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/simplease.in\/blog\/?p=679#primaryimage\"},\"image\":{\"@id\":\"https:\/\/simplease.in\/blog\/?p=679#primaryimage\"},\"thumbnailUrl\":\"https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/02\/BLOG-IMAGE-21.png\",\"datePublished\":\"2023-02-13T03:59:00+00:00\",\"dateModified\":\"2025-08-26T06:46:39+00:00\",\"author\":{\"@id\":\"https:\/\/simplease.in\/blog\/#\/schema\/person\/84a6dfa3bbe895553569525a7dd38f83\"},\"breadcrumb\":{\"@id\":\"https:\/\/simplease.in\/blog\/?p=679#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/simplease.in\/blog\/?p=679\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/simplease.in\/blog\/?p=679#primaryimage\",\"url\":\"https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/02\/BLOG-IMAGE-21.png\",\"contentUrl\":\"https:\/\/simplease.in\/blog\/wp-content\/uploads\/2023\/02\/BLOG-IMAGE-21.png\",\"width\":600,\"height\":400,\"caption\":\"Real Estate Weekly News Tracker\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/simplease.in\/blog\/?p=679#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/simplease.in\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Weekly Real Estate News Tracker- 12 February 2023\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/simplease.in\/blog\/#website\",\"url\":\"https:\/\/simplease.in\/blog\/\",\"name\":\"Simplease Insights\",\"description\":\"Real Estate Made Simple & 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 February 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=679","og_locale":"en_US","og_type":"article","og_title":"Weekly Real Estate News Tracker- 12 February 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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