Real Estate News Update for May 15
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Industry
Government has proposed holding banks, insurance companies, real estate developers and brokers, as well as other entities, including agencies making ‘pesky calls’ on their behalf, responsible for contacting people through numbers that are not registered with the Telecom Regulatory Authority of India (Trai).
RERA
MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has proposed that realty developers provide an annual self-declaration of their projects’ quality assurance based on multiple parameters such as structural design, stability, testing, quality of input material, quality of workmanship and various other crucial aspects.
Housing Finance
The CBI has arrested former DHFL Director Dheeraj Wadhawan in connection with the alleged defrauding of a 17-member lender bank consortium to the tune of Rs 34,000 crore, officials said Tuesday. Wadhawan, arrested from Mumbai on Monday night, was produced before a special court here which remanded him in judicial custody on Tuesday, they said.
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Industry
NEW DELHI: Oberoi Realty has reported a growth of 64.07 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 788.03 crore in Q4 FY24 as against Rs 480.29 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
International
LONDON|NEW YORK: Some of the world's largest investors are making deeper inroads into lending to commercial property, as they snap up market share from retreating banks and bet on an end to the sharp drops in real estate prices.
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