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 […]
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 […]
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 […]
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, […]
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 […]
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 […]
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 […]
Striking a balance between a finance company’s claims and home buyer’s rights over a stalled project whose promoter is in jail, the Maharashtra Real Estate Appellate Tribunal (MREAT) has modified a MahaRERA order, recognising the rights of Xander Finance as a mortgagee while upholding the home buyer’s claims on the plot and refusing to stay […]
MUMBAI: Middle-class and low-income families are not the only victims of stalled real estate projects in Mumbai. Around Rs 1,300 crore paid by high net worth individuals to the builder of India’s tallest under-construction residential tower, 294-metre high Palais Royale at Worli Naka, is stuck for a decade. The project has been mired in a […]
TRIL will be exiting the two mall properties, totaling 1.15 million square feet, in Amritsar and Nagpur. TRIL owns 90% stake in these assets. Xander-backed Virtuous Retail is in advanced talks with Tata Realty and Infrastructure (TRIL) to buy two mall projects in a deal valued at around Rs 700 crore. TRIL will be exiting […]
