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  • - Monday 16th January 2017

    Founded by Sumit Jain, Vikas Malpani and Lalit Mangal in 2007, CommonFloor has seen a series of employee layoffs.” We will continue to invest in and build QuikrHomes, CommonFloor and Grabhouse as leading franchises in the Indian online real estate industry, “Quikr said. Quikr Homes, the real estate vertical of the classifieds site, also acquired Sequoia-backed Grabhouse in November to enter the managed property rental business.

    The real estate space has seen rapid consolidation since with News Corp-backed PropTiger merging with SoftBank-backed Housing .com in an all-stock deal.

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  • - Monday 16th January 2017

    CM Devendra Fadnavis recently launched an app for residents ofNashik and Wardha which helps in downloading a digitized copy of the land records. The problem with the application is that it does have a login interface, but no information about the process. “. There could be many who may have not registered because of lack of knowledge. The application should have the option of ‘sign up’ to ensure re-direction of the consumer to the website or programme,” an official said.

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  • - Monday 16th January 2017

    The government is looking to provide higher tax incentives on home loans to boost demand and prop up the faltering realty sector that has been further hit by demonetization. Some concessions may be offered in the Union Budget to increase the tax benefit on payment of interest beyond the annual Rs 2 lakh which may benefit the employment-intensive segment.

    Companies which were already holding back on capacity addition due to high debt and low demand are unlikely to rush in with fresh investment over the next few quarters given that consumers are holding back purchases post-demonetization. 

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  • - Monday 16th January 2017

    The Securities and Exchange Board of India (SEBI) had been working on easing regulations on REITs and InvITs to woo more investors to India's capital-starved property sector. A fund would not be able to invest more than 5 percent of its net asset value in units of a single issuer of REIT or InvITs, the regulator said in a statement.The maximum allowed investment in the alternative instruments by a single fund would be capped at 10 percent, it added.

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  • - Monday 16th January 2017

    “We have already received 6 applications for housing finance licenses,” Sriram Kalyanaraman, national director & chief executive officer, NHB.

    Modi’s announcement of interest subsidy up to 4% on loans borrowed under the Pradhan Mantri Awaas Yojana triggered a lot of interest to enter the affordable housing financing lending space.NHB provides 6.5% subsidiary on Rs 6 lakh loan amount to (EWS) and (LIG) groups. The sops may bring down land prices, allow more builders to enter the affordable housing space.

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  • - Monday 16th January 2017

    “India is critical for Canada to engage with, as it a growing economy.”Leading Canadian firms focusing on urban infrastructure have lot of opportunities for collaboration and growth in that sector, according to Amarjeet Sohi.

    Canada’s Bombardier, which has a manufacturing unit in Gujarat, has been a key supplier of rail locomotives and equipment to the metro systems in Delhi and Mumbai. Canada has been a steady partner of Vibrant Gujarat Summit for past many years and the first Western block country to reach out to Narendra Modi.

     

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  • - Monday 16th January 2017

    To make the Gurgaon portion of the Dwarka expressway motorable by March, Huda has decided to rehabilitate nearly 500 oustees of the project, except the general power of attorney (GPA) and special power of attorney (SPA) holders.

    “It was decided that the urban development authority will issue allotment letters for alternative plots to all non-GPA and non-SPA oustees," Huda administrator Yashpal Yadav said. "So we have decided to continue with the project,” he added.

    A 14.5km-long stretch of the 18-km expressway is in Gurgaon and is nearing completion.

     

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  • - Monday 16th January 2017

    An EPF officer Avinash Patra, a resident of Dhayari, lodged complaint with the Deccan Gymkhana police station on Tuesday following which police booked the two executive directors of the construction company, having its office on the Ghole road in Deccan. According to the complaint, the two brothers didn’t deposit the amount worth Rs 42.39 lakhs, in the PF accounts of their employees between April and September, 2016. They used the money for their personal use while deducting the amount from their employee’s salaries.

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  • - Monday 16th January 2017

    The other three developers with the green signal are Worldwide Oilfield Machine, Embassy Property Developments and Horizoneview properties. Worldwide Oilfield Machine has proposed to set up an engineering-specific SEZ in Pune spread over 58.23 hectares.

    Embassy Property Developments, Horizonview Properties and Phoenix Embassy Tech Zone have planned to set up IT/ITeS SEZs in various locations in the country. According to Commerce Ministry data, as on March 31, these SEZs have attracted investments worth Rs 3.76 lakh crore and have generated employment for 15.91 lakh people.

     

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  • - Monday 16th January 2017

    Lucknow Metro team is also planning to provide paid drinking water facility at a cheaper cost to passengers. Besides seating facility, lifts, escalators, the officials also plan to play slow music in all stations.

    Lucknow Metro aims to generate revenue through fare-box collection, advertisement panels inside metro premises, parking fee, rent on commercially developed areas within stations, real estate development to meet operational and maintenance cost of trains. 

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  • - Friday 13th January 2017

    Twitter campaignis giving a chance to creative and innovative people to participate and win prizes .The campaign, #REDisRealEstateDestination, organised by the digital marketplace HDFC RED on Wednesday, is calling every aspirational home buyer to tweet about their dream real estate destination and win Amazon cash vouchers worth Rs 2,000 every hour.According to the company's social media head Rohan Gandhi, the company's brand motto is finding people homes of their choice and said that through this campaign, we want Twitterati to generate interesting dialogue around homes that people aspire to live in.

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  • - Friday 13th January 2017

    The state government is prepared to table the long-pending Rajasthan Apartment Ownership Bill (2015) during the next assembly session after incorporating various amendments. The government has removed clauses 6, 11 (1), and 11 (2) from the draft of the Bill to avoid conflict with the Centre’s Real Estate Bill. But the residents staying in apartments are still to the square one in the absence of clarity on their rights in the state. As per the rules implemented earlier  a builder will have to furnish a written commitment to pay a requisite penalty in case of missing the deadline in the proposed project. At the time of booking of an apartment, developers will declare the penalty for delay in completion or handing over the possession.

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  • - Friday 13th January 2017

    Tata Capital Housing Finance today said it has reduced interest rates on home loans by up to 35 basis points (bps).For home loan up to Rs 75 lakh, rate has been reduced to 8.75 per cent from 9.10 per cent earlier. Women borrowers will get loans 0.5 per cent lower rate at 8.70 per cent, the company said in a release here.Interest rate on loan over Rs 75 lakh is lowered to 8.75 per cent for women home loan seekers and to 8.80 per cent for others.

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  • - Friday 13th January 2017

    The Supreme Court informed  that the disputes with regard to the possession of a flat between Union minister Rajyavardhan Singh Rathore and Parsvnath Developers are negotiated. The bench posted the matter for further hearing on February 13. The court asked Rathore to sit together with the representatives of the builder and settle the dispute amicably with regard to the possession of the flat in Gurugram and also asked the realty firm to remove the deficiences in the flat as pointed out by Rathore and the panel of lawyers which had visited the site and hand it over to the minister.

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  • - Thursday 12th January 2017

    A meeting was held where the Finance Minister Mr. Arun Jaitley  and many private equity investors came to discuss ways to achieve higher growth, greater foreign inflows and a targeted growth in employment and infrastructure. The meeting was held on Friday last week Hemal Mehta, partner, Deloitte Haskins & Sells also attended it . For 2016, private equity investors bet $15.2 billion across 620 deals making it the second biggest year for such investments in India by both value and volume, after 2015 which had witnessed $17.3 billion being invested across 775 transactions and 683 companies. At the end of the meeting the group has been asked to submit their thoughts and recommendations by the end of this week.

     

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  • - Thursday 12th January 2017

    The Karnataka government is set to fix the minimum land requirement for the development of private residential layouts. The government is expected to bring in an amendment to the Karnataka Town and Country Planning Act, 1961, during the budget session of the legislature.  The government  has submitted an affidavit to the high court during the hearing recently, agreeing to take stern measures to ensure there is no further misuse of building plans. In the affidavit submitted to the court, Ponnuraj said that  the government would take measures to plug illegalities. This include disallowing layout development in less than-half-acre land. 

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  • - Thursday 12th January 2017

    A recent report has come out that the Indian paint market which was around Rs 40,300 crore in 2014-15 is expected to reach Rs 70,875 crores by 2019-2020.  The decorative paint market is expected to witness CAGR of 12.7% while industrial paint market is expected to witness CAGR of 9.5% by 2020. The split of the decorative paint market to industrial market is around 75-25. “Decorative Paint market size in India was Rs 30,385 crore and the Industrial Paint was Rs 9,915 crore in FY 2014-15.

     

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  • - Thursday 12th January 2017

    JSW Cement, part of the USD 11-billion JSW Group, has acquired promoters' share in Odisha-based Shiva Cement and has offered openly to acquire 32 per cent stake from public shareholders. Shiva Cement said that the share purchase agreement has been executed with JSW Cement Ltd, for sale of shares held by the promoters of the company. Even Sun Investments Private Ltd and and Reynold Traders Pvt Ltd has made an open offer to the public equity shareholders of Shiva Cement to acquire up to 62,400,000 fully paid-up equity shares.

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  • - Wednesday 11th January 2017

    Anuraag Bhatnagar has been appointed as Multi-Property Vice President, Luxury, India.Bhatnagar will be part of the Luxury APEC Market Leadership team lead by Victor Clavell, Marriott International Inc. He has handled 12 hotels in six different cities of all Legacy Starwood brands including the core responsibility of leading the first St. Regis property launched in South Asia in 2015, as General Manager.He will now be at the helm of Marriott International's luxury portfolio for the Indian market.

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  • - Wednesday 11th January 2017

    The unsold inventory of residential properties in Kolkata will take nearly two years to sell off. This inventory of the city is recorded at 37,400 units. The quarters to sell unsold inventory (QTS) is the number of quarters required to exhaust the existing unsold inventory in the market.City’s residential marketing is witnessing a slowdown currently. New launches in the city have dropped by 30 per cent in the last two years while sales recorded a dip of 14 per cent in the last one year. The decline in sales volume was bought in the second half of 2016 by the announcement of demonetization.

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  • - Wednesday 11th January 2017

    Two biggest projects of Pune lands a picture of contrast for metro and airport.While authorities claim land acquisition for metro will not be a tedious task as most of the land that needs to be acquired belongs to the government, the airport project is posing major problems. experts say that the airport project is more complex as thisproject,s location had to be changed several times.Both the metro and airport projects were finalised by the state government years ago. However, many hindrances, particularly related to land and environment issues cropped up and they got delayed.

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