The Real(ty) Snips: Wednesday Roundup
The Real(ty) Snips: Wednesday Roundup. Your inside track to the latest Delhi NCR real estate landscape from KnowbleR.
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Delhi RERA Mandates Advertising and Selling Based on Carpet Area
The Delhi Real Estate Regulatory Authority (RERA) is set to make it mandatory for builders to advertise and sell projects solely based on carpet area, ensuring greater transparency for homebuyers. The regulation aligns with the Real Estate (Regulation and Development) Act, which defines carpet area as the net usable floor area within a property.
Apple Leases Premium Office Space in Mumbai's BKC
Apple has secured office space in Mumbai's Bandra Kurla Complex (BKC) at a record rental rate of ?738 per square foot. The lease covers 7,000 square feet and is part of a 5-year agreement, with a 15% rent escalation every 3 years. BKC's rising prominence as a hub for luxury and corporate brands underscores the growing demand for premium office spaces in this area.
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Allahabad HC Orders Noida Authority to Start Meghdutam Project Registrations
The Allahabad High Court has instructed the Noida Authority to commence the registry process for the Meghdutam housing project, which has faced delays due to disputes. This decision aims to resolve long-pending issues and expedite the handover process for homebuyers. The court emphasized the need for swift action to address grievances and ensure transparency in the project's completion.
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