Listen To The Article Buying a home in India can be difficult and complicated with many steps and paperwork involved. This includes applying for a loan, obtaining a home loan sanction letter, transferring the property title, obtaining a no-objection certificate from the builder, and registering the sale deed. The home buying process can take an extended time and involve multiple agencies. To...
Listen To The Article Fortis Healthcare said that it had signed final bonds with the VPS Group to buy the Manesar based Medeor Hospital in Gurugram, for Rs 225 crore. The hospital may be operationalized gradually in roughly nine months and has a 350-bed maximum bed capacity. A combination of loans and internal accruals will be used to finance the transaction. Following IHH Healthcare's...
Listen To The Article MCG has established 16 teams to investigate cases of tax evasion involving conversions of properties from commercial to residential, industrial, or institutional usage, and they have to report their findings by April 30. There are 1,244 commercial properties have been reclassified as residential homes, 514 as industrial assets, 95 as institutional facilities, and 403 as...
Listen To The Article The Union Housing and Urban Affairs Ministry has blacklisted two firms involved in the ill-fated NBCC Green View project in Gurgaon, barring them from receiving any work from the ministry for two years for substandard work. Supreme Infrastructure India Ltd and Ramacivil Construction Pvt Ltd have also been barred from receiving work from the ministry's attached entities,...
Listen To The Article The RBI held the repo rates constant at 6.5%, which goes against the grain of prevailing predictions. The affordable and mid-segment homebuyers are especially relieved, as they were worried that the increase in the repo rate would make it even more difficult to purchase properties by using house loans. Since May 2022, the RBI has increased the repo rate by 250 basis points,...
Listen To The Article Gurugram Developers want that the city's infrastructure must be upgraded and the stilt-plus-four-floors policy restored. They claimed that because there is such a high demand for residential floors in the city, there is a need for establishing criteria for building, the environment, and other concerns associated with fourth floors. The developers met with P Raghavendra, the...
Listen To The Article The Gurugram administration raising circular rates by up to 30% throughout the district, as a result the property rates in Gurugram are expected to rise. According to the order made by the district collector of Gurugram on April 3, rates for residential, agricultural, and commercial properties in Gurugram tehsil have increased by 20%, while rates in Badshahpur tehsil have...
Listen To The Article The second phase of the structural assessments of highrise residential societies will begin on April 1 as per the decision made by the district administration. This follows a meeting to discuss the issues highlighted in the first phase between (resident welfare associations) RWAs, developers, and auditing agencies at the mini secretariat. Many highrise societies encountered...
Listen To The Article Two separate FIRs have been filed for alleged fraud against Gurugram based reputed real estate developer Vatika Limited and its managing directors. An FIR has been registered at the Sector 10-A police station for Rs 133 crore rupees fraud, while one more has been registered at the Kherki Daula police station for Rs 36 lakh rupees cheating. Both FIRs were filed on the advice...
Listen To The Article The Haryana Real Estate Regulatory Authority (HARERA), Gurugram, has rejected real estate promoter Shree Vardhman Infraheights Private Limited's application for an extension of registration for its group housing project Shree Vardhman Victoria, “over repeated non-compliance” with various rules and the Real Estate (Regulation and Development) Act, 2016. According to...
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