Real Estate News Update for August 03

Welcome to the latest edition of?ETRealty's daily newsletter,?RealtyDigest!?Through this especially curated newsletter, we aim to provide the latest real estate and allied industries' news, views, market trends, reports, video interviews and much more to help you navigate the world of real estate. Subscribe and Stay Tuned for daily updates!

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Industry

Panel moots relief for home buyers of stalled projects

NEW DELHI: An expert committee on reviving stalled real estate projects has proposed several measures, including changes to the insolvency law and a moratorium on payment to land-owning authorities affected by “unusual circumstances” (four years in case of Noida properties) to help improve the finances of builders so that they can complete and hand over apartments to homebuyers.

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Industry

Uttar Pradesh: Developers to be charged metro & RapidX cess now

GHAZIABAD: The authorities can now charge cess on developers in cities with the metro and RapidX services and the Hindon elevated road as the UP governor has issued a gazette notification in that regard.

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Residential

Mumbai: Dilip Kumar's Pali Hill bungalow to make way for residential project

Late Bollywood actor Dilip Kumar's family has entered into an agreement with realty developer Ashar Group to develop a luxury residential project on the Pali Hill plot that housed the superstar's bungalow.

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Commercial

Tesla leases office in Pune's Viman Nagar amid India foray talks

Even as top executives of Tesla are meeting up with Indian government officials to discuss its foray into the country, the US-based electric vehicle manufacturer has picked up office space in Pune’s Viman Nagar locality.

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Industry

Brookfield India REIT raises over Rs 2,300 crore through QIP of units

Brookfield India Real Estate Trust (Brookfield India REIT) has completed a capital raise of Rs. 2,305 crore through a Qualified Institutional Placement (QIP) of units.

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Industry

Godrej Properties posts net profit of Rs 134 crore in Q1 FY24

NEW DELHI: Godrej Properties has reported a growth of 208.68% in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax stood at Rs 133.69 crore in Q1 FY24 as against Rs 43.31 crore it registered in the corresponding quarter of the previous fiscal, the company said in the regulatory filing.

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Popular Among Readers:

DDA launches housing scheme for 5,500 flats on first-come, first serve-basis

Shivalik Group achieves Rs 300 crore sales in GIFT City residential project within 15 days

Flat agreement price & stamp duty difference can't be taxed: ITAT

Enforcement directorate arrests Supertech's chairman in money-laundering case

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