Real Estate News Update for March 14

Real Estate News Update for March 14

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.

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Industry

Maharashtra government cuts premium for collector's land conversion

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%.

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Industry

Foreign portfolio investment lap up REITs, InvITs, wrap up earlier commitments

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.

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Industry

Godrej Properties acquires about three-acres land parcel in Hyderabad

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

UP-RERA directs the promoters to provide project registration certificate embedded with QR code

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.

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Industry

DLF's subsidiary sells 4.67 acres land in Chennai for Rs 735 crore

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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