Country Garden’s Freefall Deepens Amid China’s Housing Crisis
Country Garden, once a beacon of China’s real estate boom, is now emblematic of the sector’s deepening crisis. The developer’s July sales plummeted by a staggering 72% year-on-year, following a similar 73% decline in June. This dramatic freefall underscores the company’s precarious financial position and the broader challenges facing China’s
HCC Reports Steep Decline in Q1 Profits
Mumbai: Hindustan Construction Company (HCC) has announced a significant downturn in its financial performance for the first quarter ended June 30, 2024. The company reported a net loss of Rs 2.5 crore, a sharp reversal from the Rs 43.6 crore net profit recorded in the corresponding period of the previous
Delhi High Court Establishes Special CBI Court to Expedite DHFL Fraud Case
The Delhi High Court has taken a decisive step to expedite the complex and high-profile Dewan Housing Finance Corporation Limited (DHFL) fraud case by establishing a dedicated special CBI court. This move comes in response to the staggering scale of the alleged fraud, amounting to Rs 34,614 crore, which has
Uttar Pradesh Government Unveils Ambitious Harnandipurm Township in Ghaziabad
The Uttar Pradesh government has unveiled its grand vision for a new township in Ghaziabad, to be named Harnandipurm. This ambitious project is set to transform the region’s skyline and elevate its standard of living. Envisioned as a meticulously planned urban center, Harnandipurm will boast state-of-the-art infrastructure, lush green spaces,
2706 New Rooms Entered in India in H1 2024 in Upscale & Premium Segment- SKYE Report
SKYE Hospitality, an end-to-end hospitality & strategy consulting company has released its maiden market analysis on the pulse of Indian hotel industry for the first six months of 2024. The analysis has shared some interesting insights and perspectives on the Indian hospitality sector. As per the analysis, 2706 rooms have
Gurugram Administration Halts Demolition of NBCC Green View
Gurugram: The Gurugram district administration has issued a stay on the demolition of NBCC Green View Society in Sector 37D. This decision comes after a protracted standoff between the National Buildings Construction Corporation (NBCC), residents, and local authorities. The NBCC had sought permission to raze the seven-tower complex following structural
Delhi LG Seeks Swift Property Verification Through NGDRS
New Delhi: In a bid to streamline property transactions and enhance transparency, Delhi Lieutenant Governor V.K. Saxena has issued a directive to officials to expedite the registration of all properties in the city under the National Generic Document Registration System (NGDRS). The deadline for this comprehensive registration has been set
UP-RERA Streamlines Quarterly Progress Report Filing
UP-RERA has introduced a new online platform to simplify the QPR filing process for developers, aiming to improve transparency and protect homebuyer interests. he Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has made significant strides in improving the process for developers to submit Quarterly Progress Reports (QPRs). Recognizing the importance
GST on Development Rights: A Legal Quagmire for Landowners
Landowners across the country are finding themselves entangled in a legal web due to the imposition of Goods and Services Tax (GST) on development rights. This tax, introduced with the intention of broadening the tax net, has inadvertently created a complex and contentious issue for property owners. The crux of
Gurugram’s ATS Marigold: A Tale of Delays and Distress
Homebuyers at Gurugram’s ATS Marigold project are facing significant delays in possession and allegations of fund diversion, highlighting the risks inherent in the real estate market. The residents of ATS Marigold, a residential project in Gurugram, find themselves entangled in a complex web of delays and financial uncertainties. Initially promised
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