NEW DELHI: The Delhi government on Tuesday allocated Rs 1,550 crore in budget for the development of unauthorised colonies in the city. Presenting the budget for the financial year 2021-22, Deputy Chief Minister Manish Sisodia, who also holds the portfolio of finance, said so far, construction work has been completed or is in progress in […]
In the backdrop of improvement in residential sales and lower interest rates, sanctions of loans for real estate developers are witnessing an upward move. Owing to revival in sales momentum with benefits like record-low home loan rates and stamp duty reduction in key states, several developers have been refinancing their existing loans to take advantage […]
Furniture e-commerce company WoodenStreet is planning to expand its current warehousing capacity fivefold to a total of 5 million sq ft across India in the next 24-36 months. The company is planning to invest around $5 million to support this supply-chain and warehousing expansion in addition to hiring 250-300 employees from logistics and supply-chain domain. […]
NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has received approval from the National Company Law Tribunal (NCLT) in relation to its composite scheme of arrangement among its entities that restructures and simplifies the ownership of key portfolio assets, including Embassy Manyata and Embassy TechZone, the company said in a media release. Embassy REIT had […]
The Haryana government’s law reserving 75% of private sector jobs with monthly pay of up to Rs 50,000 for people of the state will impact Gurgaon’s real estate sector and accelerate the trend of companies shifting to Noida due to high costs, industry experts said. The law will affect both office space and residential property […]
NOIDA: Residents of Jaypee Wish Town staged a protest on Saturday against the developer for raising an “insurance fee”, clubbing it with this year’s quarterly maintenance bill and deducting the entire amount from pre-paid electricity meters without their consent. The Jaypee management, however, claimed that ‘insurance’ is a component mentioned in the maintenance agreement with […]
NEW DELHI: Reliance Home Finance Ltd (RHFL) on Saturday said it has defaulted on loan of over Rs 40 crore from Punjab & Sind Bank even as the company has enough cash and cash equivalent which it cannot use due to a court order. The Anil Ambani-controlled Reliance Capital’s subsidiary defaulted on loan on February […]
GURUGRAM: The municipal council in Sohna on Friday sent show-cause notices to 50 farmhouses in Raisina eco-sensitive area of Aravali. Council officials said that they will be sending out 150 such notices before carrying out a demolition drive in the area. A drive was carried out on February 18 in which 15 structures were demolished. […]
GURUGRAM: The enforcement wing of town and country planning department carried out demolition drives in Garhi Harsaru village, Wazirpur, and razed boundary walls and gates of illegal colony. On the basis of complaints received regarding the colony, the department conducted a site visit during which it was found that the office, boundary walls and roads […]
NEW DELHI: Coworking aggregator platform Stylework has raised Rs 4 crore in a pre-Series A funding round led by Inflection Point Ventures to fund its expansion plans. Based in the National Capital Region (NCR) centred on Delhi, Stylework offers flexible coworking space in over 800 locations across the country to some 120 corporates and 3,000 […]
NOIDA: A high-level meeting to take a call on builder-buyer issues is slated for Saturday in Noida. UP’s chief secretary and the additional chief secretary of the industries department, along with senior Noida Authority officials, will meet representatives of builders’ bodies and flat owners to understand their problems. Clearing logjams pertaining to flat registrations and […]
NEW DELHI: PNB Housing Finance and YES Bank have entered into a strategic co-lending agreement to offer retail loans to homebuyers. Both the companies will jointly do due diligence and co-originate the loan at an agreed ratio. PNB Housing will service the customers through the entire loan lifecycle, including sourcing, documentation and collection with an […]
