Real Estate News Update for March 14
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Industry
MUMBAI: The premium for conversion of occupancy class II lands popularly known as collector’s land to freehold land has been reduced with a rider. For those housing societies opting for self-redevelopment, the premium has been dropped to 5% from the current 15% and for those who opt for builder-driven redevelopment, the premium will be 10%.
Industry
MUMBAI: Foreign portfolio investment in the 'hybrid' category, which reflects activity in real estate investment trusts (REITs) and infrastructure investment trusts (InvITs), has climbed to $875 million so far in 2024, the highest in four years, fuelled by a recent infrastructure offering that attracted significant foreign capital.
Industry
NEW DELHI: Godrej Properties (GPL) has acquired about three-acres of land in Kokapet, Hyderabad. This is the second land acquisition for GPL in the city and will take the overall booking value potential added in Hyderabad to Rs 4,800 crore.
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RERA
NEW DELHI: Uttar Pradesh real estate regulatory authority (UP-RERA) has redesigned the certificate for registration of projects. The registration certificate is now digitally signed by the secretary and has also been assigned a QR Code.
Industry
NEW DELHI: DLF IT Offices Chennai, a wholly-owned subsidiary of DLF, has sold land admeasuring 4.67 acres situated in Chennai to Cholamandalam Investment and Finance Company, for Rs 735 crore.
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