Real Estate News Update for September 11

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. Subscribe and Stay Tuned for daily updates!

Regulatory

Mumbai: Consumer panel orders Rs 33 crore refund, 12% interest to World One buyers

MUMBAI: Holding the developers of the World One project in 'Upper Worli' (Lower Parel) liable for unfair trade practice in promoting a project without the requisite statutory approvals and of deficiency in service for a four-year delay in offering possession, the National Consumer Disputes Redressal Commission (NCDRC) has ordered a refund of around Rs 33 crore for three flat buyer with 12% interest, with Rs 13 crore being the maximum payout.

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Commercial

Motilal Oswal buys 12-storey tower in Ahmedabad from Claris Life Sciences

Motilal Oswal Financial Services (MOFSL) has acquired an entire standalone commercial tower with 12 upper floors spread over nearly 1,10,000 sq ft in the financial hub of Ahmedabad from Claris Life Sciences to support its growth and expansion plan.

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Industry

Sumadhura Infracon to invest Rs 5,000 crore in next three years

Real estate developer Sumadhura Infracon plans to invest around ?5,000 crore to more than double its residential and commercial portfolio over the next three years, its chairman told ET.

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Commercial

Real estate leasing companies in a fix over blocked credit eligibility

Commercial real estate developers leasing their properties are receiving notices about blocked credit eligibility under sections 17 (5) C and 17 (5) D even as the case is being argued at the Supreme Court, say real estate industry stakeholders.

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Residential

Gurugram: After audit, builder of Brisk Lumbini starts repairs, RWA says 'keep us in loop'

GURUGRAM: After a structural audit by the district administration, the developer of Brisk Lumbini in Sector 109 has been carrying out repair work of the structural defects through its contractor.

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