Sobha to Raise Rs 2,000 Crore Through Rights Issue
Sobha Ltd’s board has approved a Rs 2,000 crore rights issue to raise capital. This move aims to strengthen the company’s financial position and support its expansion plans. The article details the implications of the rights issue, the company’s strategic goals, and the potential impact on shareholders and the real
India’s Housing Ministry Calls for Industry Reform to Meet Upcoming Challenges
The Housing Ministry has called on the real estate sector to prepare for upcoming housing challenges leading up to 2029. Highlighting the need for affordable housing, sustainable development, and improved infrastructure, the ministry emphasizes the importance of proactive measures and strategic planning to meet the growing demand and evolving needs
IMC India Signs Landmark Deal in Mumbai’s BKC
IMC India has leased office space in Mumbai’s Bandra-Kurla Complex (BKC) at a rate of Rs 700 per square foot per month. The lease, noted for its high rental rate, is for a short tenure, reflecting the premium value and strategic importance of BKC as a commercial hub. The article
Holiday Home Demand Dips as Rentals Decline
The demand for holiday homes has significantly tapered off as rental prices continue to fall. This trend is observed in popular vacation destinations where the market is experiencing an oversupply of rental properties, leading to decreased profitability for property owners. The article examines the factors contributing to this decline and
Godrej Properties’ Kandivali Project in Limbo Over Defence Clearance
Godrej Properties’ luxury residential project in Kandivali, Mumbai, faces uncertainty as the Central Ordnance Depot (COD) objects to its proximity to a sensitive military establishment. The COD requested a stop-work notice from the municipal corporation citing a violation of regulations, but Godrej Properties claims they have all necessary approvals. Godrej
Godrej Properties’ Kandivali Project Avoids Stop-Work Notice
The Municipal Corporation of Greater Mumbai (MCGM) has decided not to halt construction on a Godrej Properties project in Kandivali, Mumbai, despite a request from the Central Ordnance Depot (COD) citing security concerns. Godrej Properties’ residential project in Kandivali, Mumbai, has been given a reprieve. The Municipal Corporation of Greater
Union Cabinet Approves Construction of 3 Crore New Homes Under PMAY
In a major push towards affordable housing, the Union Cabinet, led by Prime Minister Narendra Modi, approved government assistance for the construction of 3 crore (30 million) new houses under the Pradhan Mantri Awas Yojana (PMAY) scheme. This decision, announced during the first cabinet meeting of the Modi 3.0 government,
Shivraj Singh Chouhan Appointed as Rural Development Minister
In a recent cabinet reshuffle, Shivraj Singh Chouhan has been appointed as the Minister of Rural Development. The appointments are seen as strategic moves to strengthen rural governance and development. New Delhi, India – In a significant cabinet reshuffle, Shivraj Singh Chouhan has been appointed as the new Minister of
Manohar Lal Khattar Appointed as New Housing and Urban Affairs Minister
Manohar Lal Khattar has been appointed as the new Housing and Urban Affairs Minister, a pivotal role in shaping India’s urban development policies. His appointment comes at a crucial time when urbanization and housing demands are escalating. The article explores Khattar’s background, his potential impact on the ministry, and the
Developers, Homebuyers Object to UP-RERA’s Occupancy Certificate Rule
A recent decision by the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) mandating an Occupancy Certificate (OC) before issuing possession letters to homebuyers has sparked opposition from both developers and homebuyers. The CREDAI (Confederation of Real Estate Developers’ Associations of India) has urged UP-RERA to reconsider the order, arguing it
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