Real Estate News Update for February 07
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Residential
“Any private entity with a registered office or campus in Delhi/ NCR region can now purchase residential flats of DDA in bulk for use as residential staff quarters, hostel among others. Such a policy will enable the growth and development of private industrial, educational and other sectors in upcoming areas like Narela leading to the overall development of the city,” DDA said in a statement.
Regulatory
This is the third case in which Wadhwani has been arrested. Deputy commissioner of police (EOW) Sangramsingh Nishandar said that on Tuesday, the police registered an FIR at Amboli police station in Andheri and arrested Amit and Vicky under the IPC sections of cheating, forgery and criminal breach of trust.
Commercial
Axis Bank has leased over 81,300 sq ft office space in Mumbai's Parle Product Factory Compound for 5 years with a monthly rent of Rs 85.37 lakh. The agreement includes a 12% rental escalation after 3 years. The lease and rent commencement dates are in 2024. Axis Bank will have exclusive access to 81 four-wheeler parking spaces and 300 two-wheeler parking slots.
International
领英推荐
Neumann's new real estate company, Flow Global, has sought to buy WeWork or its assets, as well as provide bankruptcy financing to keep it afloat, the sources said., DealBook first reported the development, saying Neumann's lawyers sent a letter to WeWork on Monday, claiming Daniel Loeb's hedge fund Third Point would help finance the transaction.
RERA
The housing ministry advises state governments to follow the 'Gujarat model' for effective recovery of dues from non-compliant builders. Gujarat Rera has appointed officers for execution of recovery warrant orders and has issued proceedings for attachment of property. The ministry also suggests designating additional district magistrates as 'revenue recovery officers'.
Retail
NEW DELHI: Nexus Select Trust -- the country's first retail space-backed REIT-- on Tuesday reported a consolidated net profit of Rs 106.85 crore in the December quarter and announced the distribution of Rs 303 crore to unitholders in the form of interest and dividend. Total income stood at Rs 588.4 crore in the third quarter of this fiscal, according to a regulatory filing.
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