Listen To The Article The Reserve Bank of India's decision to raise the repo rate by 50 basis points to 5.9 percent, far higher than the pre-pandemic level of 5.40 percent, is likely to restrict the pace of expansion in the residential real estate industry. The city's realtors believe the move will have a long-term impact on the sector's growth and could have been postponed until after the...
Listen to The Article After the Reserve Bank of India (RBI) raised the policy repo rate by 50 basis points (bps) to 5.9% in its Monetary Policy Committee (MPC) meeting on Friday, leading housing finance provider HDFC Ltd. raised its lending rate by 50 basis points. HDFC has executed seven rate hikes in the last five months. “Effectively from October 1, 2022, HDFC bank increases its Retail...
Listen to The Article Gurugram and Nuh districts are all set to get the 10,000-acre jungle safari park. "The planned jungle safari park will be the world's largest such endeavour," it claimed in a statement. Sharjah now has the world's largest curated jungle safari park outside of Africa. The Sharjah Safari will occupy over 2,000 acres when it opens in February 2022. Haryana will create the...
Listen to The Article Nucleus Office Parks, the operating platform for Blackstone Group's fully owned office property in India, has leased over 7.50 lakh commercial projects this year throughout its Pan-India portfolio, and these rentals are likely to increase as rental income increases. Annual revenue of approximately Rs 1,100 crore. The operational platform has completed nearly 2.5 million...
Listen to The Article The Land and Development Office (L&DO) stated on Thursday that high-end properties in Delhi that were converted from leasehold to freehold before March 2000 may be registered without a no-objection certificate (NOC). L&DO, which reports to the Union Housing and Concrete Affairs Ministry, instructed the Delhi income division in July not to register any property...
Listen to The Article DLF will build a new premium low-rise independent floors housing complex in Gurugram with a sales value of more than Rs 1,800 crore, stated the company’s Group Executive Director Aakash Ohri on September 26. The Grove, located in DLF5, Gurugram, is a low-rise luxury development with 292 units offering 4 BHK and 4 BHK plus entertainment lounge, as well as a staff room...
Listen To This Article Here is the good news for Amrapali Group's troubled home buyers, the Supreme Court was notified on Friday that 11,858 apartments will be delivered in 2 to 3 months, with 5,428 units being turned over in October. Court receiver senior lawyer R Venkataramani informed a bench of Chief Justice UU Lalit and Justice Bela M Trivedi that during the impending Christmas season...
Listen to This Article 400 companies, including nine blue-chip firms, have purchased industrial land. The overall investment from these enterprises is estimated to be around Rs 9,000 crore, with 51,000 people directly employed once operations commence. Model Economic Township Limited (METL) is a wholly owned subsidiary of Reliance Industries Limited that is developing an integrated industrial...
The Haryana real estate regulatory authority (HRERA) fined ISH Realtors Rs 12 lakh on Wednesday for selling flats in a commercial project without a licence from the relevant department. The DTCP (Department of Town and Country Planning) granted a licence to seven landowners working with Jitender Jhangu for the building of a commercial project on 3.7187 acres of land in the revenue estate of village...
The department of town and country planning (DTCP) has directed developers of 17 residential societies undergoing structural audits to deposit the cost in an escrow account. The funds will then be distributed to the four agencies conducting the audit. During the 45-day process, the structural audit will cover more than 200 towers, covering an area of around 2.5 crore sq. ft. in 17 residential...