CPPIB to Invest Rs 1350 crore to jointly develop 1 million sq ft offices, 2 lakh sq ft retail assets in Mumbai’s lower Parel Global Investment major the Canada pension plan Investment Board and retial mall developer The Phoenix mills have entered into a new joint venture to develop an office-led Mixed-use asset in Mumbai’s prime Lower Parel area. CPP Investment will commit to investing around Rs 1350...
The top court said the scheme of the Act, 2016, provides an in -built mechanism and any order passed on a complaint by the authority is appealable, if any manifest error is left by the authority either in computation or in the amount refundable to the allotee/homebuyer. The Supreme Court has said the Real Estate Regulatory Authority can delegate its powers to a single member to hear complaints from...
A Parsi Trust has sold its prime, sea-facing bungalow to a developer for Rs 350 crore. In late October, imperial infa, a Boman irani-led Rustomjee Group firm, concluded the sale Agreement with the Bandra parsi Convalescent Home Trust for the 1 Acre plot near Taj Land’s End Hotel, reports Nauzer K Bharucha. The trust has received Rs 234 crore from the sale with part of...
Nearly 23 years after he floated the scheme of river-facing Non-Agricultural (NA) plots in the picturesque Malavli in Maval tehsil close to Pune, a Borivali-based land developer has been booked on charges of cheating and criminal breach of trust by Pune rural police for allegedly defrauding second home buyers from Mumbai and Pune. The FIR was filed against the developer, Mahesh Ramugade (pictured...
FIR against SSV developers for duping 150 homebuyers in Vikhroli Over 150 homebuyers have been allegedly duped by city-based SSV developers for Rs 30 crore by not delivering promised flats in Vikhroli area. The Economic Offenses Wing (EOW) of Mumbai Police has registered a case against the developer, who they say did not even have permission to construct the building. According to the police, the...
After initially losing the plot, the tenants of a building in IC Colony in Borivali finally have a shot at getting back the homes they vacated more than 15 years ago apparently for “repairs”. Small Causes Court Judge KV More last week granted six tenants of Xavier Building a relief by restraining their landlord Michael Rodrigues (son of the original landlord) from carrying out any further...
HIGHLIGHTS The bank has also grown the number of its mortgage sourcing offices by 50% to 1,500 in FY19 in a bid to achieve its target of Rs 2 lakh crore home loan portfolio by March 2020 ICICI Bank’s home loan portfolio at Rs 1.7 lakh crore has grown 19% year-on-year as on December 31, 2018 MUMBAI: ICICI Bank has introduced digital home loans and top-ups where customers can get an instant...
The state’s real estate watchdog, MahaRERA, on Thursday issued a standard operating procedure (SOP) to allow home buyers to remove a developer in a delayed project, which will then be given to an expert panel to help complete it. The authority clarified it can take act only in non-litigated cases. “It will help finish all delayed projects in the state. This is a unique move, probably the first in...
The Reserve Bank, in its bimonthly policy review in February, had cut the key repo rate by 25 bps to 6.25 per cent. ICICI Bank Monday cut the marginal cost of funds based lending rate (MCLR) across tenors by five basis points (bps) ahead of the Reserve Bank of India’s monetary policy meeting later this week. ICICI Bank cut rates for the overnight, one-month, three-month, six-month and...
Elara Technologies Pte Ltd, the owner of Housing.com, PropTiger.com and Makaan.com, on Monday announced the acquisition of Gurugram-based rental brokerage platform FastFox.com, according to a statement issued by the company. With this acquisition, Elara aims to go beyond search and discovery for home rentals on its platforms and add on-ground assistance to both landlords and home seekers. Currently,...
