Real Estate News Update for July 02
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Commercial
The office building, one of the towers of Kalpataru Infinia, with ground plus 12-storey structure along with three basements, has a carpet area of over 60,000 sq ft.
Industry
If these plots are sold at the reserve price, the authority expects to generate around Rs 500 crore. The allocation will be conducted through e-auction, potentially leading to the construction of approximately 8,000 new flats," the authority said.
Regulatory
The HC said it was “highly unimaginable that the state government in the affidavit filed by Shri. Aseemkumar Gupta, Principal Secretary (Urban Development Department) as also recorded in the minutes of the meeting (of July 2023).
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Industry
Sushil Mohta, President of CREDAI West Bengal and Chairman of Merlin Group, expressed gratitude to the state government for the relief measures but also urged the administration to reconsider the latest decision.
Residential
Government's revision of guideline values in various cities like Alandur, Salem, and Trichy has increased property transaction costs significantly. The move was supported by Credai Chennai and faced challenges in registration processes in areas like Pallavaram.
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