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Michelin India Executive Director Mohan Kumar dies of Covid-19
The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com
Rajasthan HC rules builders can't sell properties without amenities
The Rajasthan High Court, expressing concern over the sale of plots and houses in privately developed colonies that lacked essential facilities such as drainage, electricity, and water, directed the state government, development authorities, and urban bodies to prevent developers from selling such properties unless they comply with construction regulations. The court emphasised that the Urban Development & Housing Department (UDH) must first issue a certificate verifying the suitability of a residential colony or society for habitation before any sale could proceed. A bench led by Chief Justi..
Office space net absorption rises 14% in Q2 FY25 across seven cities
The net absorption of office space increased by 14 per cent annually during the July-September period across seven major cities, driven by improved demand, as reported by real estate consultant JLL. According to JLL's latest data, the net absorption of office space reached 12.16 million square feet in the third quarter of this fiscal year, compared to 10.69 million square feet during the same period the previous year. Net absorption is determined by calculating the difference between newly occupied floor space and vacated floor space. The data revealed that in Bengaluru, net absorption of ..
Housing sales up 5% to 87,108 units across 8 cities in Q2 FY25: Report
Housing sales experienced a 5 per cent annual increase during the July-September period, reaching 87,108 units across eight major cities, driven by strong demand for premium homes, according to a report by Knight Frank India. The real estate consultant released its 'India Real Estate' report for the third quarter of the 2024 calendar year during a webinar, highlighting a moderate rise in housing sales, which contrasted with data from Anarock and PropEquity that indicated a decline in total sales across major cities during the same period. The report mentioned that the residential market had s..
