Track2Realty: Provident Housing Limited, a wholly owned subsidiary of Puravankara Projects Limited, is set to launch India’s largest residential township project. This gargantuan project, ‘Provident Sunworth’, is a 6 million square feet project spread over 60 acres , strategically located off Mysore Road near the NICE ring road junction in Bengaluru, within driving distance from Electronics city, Industrial hubs and the IT corridor.
Track2Realty: DTZ has brokered the sale of US Consulate’s Washington House in Alta Mount Road in South Mumbai to Lodha Developers at the rate of approximately Rs. 140,000 per sq meter or USD 28,000 per sq meter.
Track2Realty: President of India Pranab Mukerjee on Friday, Dec 7, urged the private sector to come forward to meet the housing shortage in the country. He was inaugurating the two day convention on Sustainable Housing For Masses organised by National Real Estate Development Council (NAREDCO).
Track2Realty-Agencies: Competition Commission of India (CCI) has rejected a complaint of alleged abuse of market dominance against real estate major DLF, related to a housing project in Chennai.
Track2Realty: When you look at the developing market, where the cost of construction is a huge issue and most of the realtors are mid sized developers. What are the suggestions you would like to give them so that they can adopt more and more energy efficient buildings?
Track2Realty Exclusive: According to a recent data, there are over 100 million unsold inventories in the market and the developers are waiting to liquidate them. No wonder, it is attracting the brokers into group buying options. Property broker Agni Properties also added group buying to its portfolio in July 2011.
Track2Realty: CREDAI has expressed strong resentment to the Union Government’s proposal for compulsory reservation of 35% of dwelling units built for the economically weaker sections (EWS).
Track2Realty: DLF plans to reduce its debt from 22,700 crore to 18,000 crore by March, by selling non-core assets as well as stake in the company.
Track2Realty: MCHI-CREDAI property expo kick started on Thursday, Nov 1, at BKC grounds, Mumbai, featuring over 15,000 properties with over 120 developers participating. Axis bank is the co-organiser of the exhibition.
Track2Realty: Mumbai-based developers will have to finally pay 5 per cent Value Added Tax (VAT) to the Maharashtra Government. The Bombay High Court has dismissed a petition filed by MCHI-CREDAI that challenged the levy.