Noida Authority to Auction Prime Land for Massive Revenue Boost
The Noida Authority is set to inject a significant financial impetus into its development plans through a robust land auction program. The authority has earmarked 550,000 square meters of prime land for sale during the fiscal year 2024-25, with an ambitious target of generating ₹3,750 crore in revenue. This strategic
NAREDCO Applauds Union Budget 2024 for Boosting Real Estate Sector and Economic Growth
New Delhi, 26th July 2024: NAREDCO (National Real Estate Development Council) welcomes the Union Budget 2024, applauding its comprehensive approach to stimulating the real estate sector and overall economic growth. The budget’s focus on affordable housing, urban development, and infrastructure has been met with enthusiasm from industry leaders. Mr. G
DLF Posts Strong Q1 Results with 23% Profit Surge
Real estate behemoth DLF has kicked off the new fiscal year on a high note, reporting a robust 23% increase in consolidated net profit to ₹645.61 crore for the April-June quarter. This impressive performance is underpinned by a significant jump in total income to ₹1,729.82 crore, compared to ₹1,521.71 crore
WeWork India Expands Footprint with New Bengaluru and Noida Spaces
Flexible workspace provider WeWork India has announced a significant expansion of its footprint with the leasing of over 1.4 lakh square feet of office space across Bengaluru and Noida. This strategic move will see the addition of approximately 2,400 new seats to the company’s portfolio. The new locations, situated in
NCLT Orders Mahindra Homes to Inform Homebuyers About Share Capital Cut
In a significant development, the National Company Law Tribunal (NCLT) has directed Mahindra Homes to provide comprehensive information to homebuyers regarding its proposed share capital reduction. The company had sought approval to cancel a portion of equity shares held by its major shareholders, Actis and Mahindra Lifespace Developers. Given the
Noida builders who signed up for reschedulement policy to be screened for second wavier
Noida developers who availed of the debt recast scheme may receive a second waiver to offset financial losses incurred during the NGT-imposed construction halt. The Noida Authority is scrutinizing these developers to determine their eligibility for a second waiver. This potential relief would encompass the period during which construction was
NCLT Greenlights Vantage Point’s Acquisition of Alchemist Infra Realty
The National Company Law Tribunal (NCLT) has approved the takeover of debt-laden Alchemist Infra Realty by Vantage Point Asset Management. This development marks a significant milestone in the resolution of the troubled real estate developer’s insolvency proceedings. Alchemist Infra Realty had accumulated substantial debts, leading to insolvency proceedings. The acquisition
Karnataka’s Digital Push Against Land Fraud
The Karnataka government is taking decisive steps to curb the rampant issue of illegal land registration within its borders. A cornerstone of this initiative is the comprehensive integration of e-khata records for all properties across the state. By digitizing land ownership details and making them publicly accessible, the government aims
NAREDCO Announces Launch of Uttarakhand Chapter, Strengthening Real Estate Sector in the State
New Delhi, 26th July 2024: The National Real Estate Development Council (NAREDCO) announced the launch of its Uttarakhand chapter, marking a significant milestone in the development of the real estate sector in the state. NAREDCO is the apex national body representing the real estate sector and plays a crucial role
Noida Residents Demand Urgent Action on Mounting Civic Issues
A delegation of concerned residents from Noida recently met with the city’s CEO to demand immediate attention to a growing list of civic problems that have significantly deteriorated their quality of life. The residents’ association presented a comprehensive overview of the issues plaguing the area, including rampant encroachments on public
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