Real Estate News Update for May 30
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Industry
Days after it issued 'final notices' to realtors who are yet to clear their land dues, despite govt announcing a policy last Dec that gave builders a chance to reschedule dues, Noida Authority has started putting up notices on premises of housing societies built by these developers, warning that unsold units will be attached if dues are not cleared by this month.
Infrastructure
BENGALURU: Cracking the whip on builders over rampant exploitation of groundwater in Bengaluru, Karnataka State Pollution Control Board (KSPCB) has warned developers and house owners that failure to use treated water for construction activities will deprive them of availing occupancy certificates (OCs) from the civic body.
Industry
NEW DELHI: Shriram Properties (SPL) has reported a growth of 27.02 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 20.12 crore in Q4 FY24 as against Rs 15.84 crore it recorded in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
Residential
CHANDIGARH: If you are looking to purchase a fourth floor in a 'stilt-plus-four' building on a residential plot, make sure that the floor was not constructed after February 23, 2023, when the Haryana govt imposed a ban on construction of such buildings. The district town planner (DTP)-Gurgaon has made it clear that such floors will not be registered in sale-purchase of property and may be demolished.
Housing Finance
NEW DELHI: Asia Opportunities V (Mauritius) and General Atlantic divested a 4.46 per cent stake in housing finance firm PNB Housing Finance for Rs 843 crore through open market transactions. US-based private equity firm General Atlantic through its affiliate General Atlantic Singapore Fund FII Pte Ltd offloaded its stake in PNB Housing Finance on the BSE.
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