In this week's edition of Open House, I share my thoughts on Children-centric architecture. To read the full editions in your inbox every Wednesday, subscribe for free?on my website (https://ashwinderrsingh.com/).
This past week, headlines were dominated by Supreme Court verdicts, post-election fracas and global diplomacy. In the midst of this, some exciting developments are taking place in the world of real estate, among other noteworthy events. Here are my top 5 reads from the last week:
- Triple A/Cs: The UP RERA has mandated the builders to juggle three bank accounts - collection, separate, and transaction - for each project. The move which aims to ensure transparency, restrict fund misuse, and safeguard consumer interests. It has guidelines prohibiting the unauthorised use of project-specific accounts with heavy penalties for violations. The aim is to bring accountability to real estate management. (Read more)
- Airbase: In a leasing spree, Air India has secured 6.2 lakh sq ft in E-Innovation Centre, Gurugram. With annual rent at ?90 crore for 21 years, the property deal includes a 4% annual rent hike. The Tata-owned airline has remained tight-lipped on the move’s purpose. Earlier this year, AI had shifted its headquarters to Gurugram after the Maharashtra government had acquired the iconic Nariman Point building. (Read more)
- JV-ietnam: United Overseas Australia and CapitaLand have joined forces for a $247.1 million property project in Vietnam. The collaboration envisions a skyline adorned with high-rise towers, blending residential, commercial, and retail spaces. UOA Vietnam BDC and CapitaLand (Vietnam) are set to co-pilot the development, with UOA owning 30% and CapitaLand the dominant 70%. (Read more)
- PF in ETF: The Employees' Provident Fund Organisation (EPFO) revealed a robust investment of ?27,105 crore in exchange-traded funds (ETFs) during the ongoing fiscal year till October 2023. Minister of State for Labour and Employment, Rameshwar Teli, highlighted this in a parliamentary update, noting a consistent upward trend from the previous fiscal year. (Read more)
- Something’s fishy: Thousands of tons of sardines and mackerel have mysteriously washed ashore on Japan's northern coast forming a silver sea blanket spanning a kilometre. The phenomenon has baffled locals and researchers with speculations ranging from fish exhaustion (running ‘out-of-air’ while escaping a predator) to Fukushima's water-release impact. Despite curiosity and free surplus, authorities have warned against consuming the fish due to unknown circumstances and potential environmental repercussions. (Read more)
