Real Estate News Update for June 15
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Regulatory
BPTP, the developer of Park Serene, had filed a defamation case against 25 residents of the society early May, arguing that residents’ protests were harming its reputation and leading to financial losses.
Industry
Highlighting that the project is too close to the Kandivali complex of the COD, the defence ministry unit had earlier written to the civic authority seeking suspension of work at the ‘Godrej Reserve’ project.
Commercial
The company has leased nearly 43,000 sq ft office space on the 34th floor of sea-view premium commercial tower Altimus in central Mumbai for a long-term tenure of 10 years at monthly rental of Rs 350 per sq ft.
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Industry
She was speaking at the third NAREDCO Mahi Convention. Thara also urged the real estate and housing industry to be prepared for constructing affordable housing as per the envisioned practices of the new NDA government.
International
Evergrande, once China's largest property developer, was ordered to be liquidated by a Hong Kong court in January, after it failed to deliver a concrete restructuring plan for its $23 billion worth of offshore debt deemed to be in default.
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