Gold
Audits in highrises held up as 'builders to deposit funds'
Supreme Court criticises officials for mishandling solid waste
The Supreme Court criticised the authorities for the inadequate management of solid waste in Delhi-NCR and issued a directive for the Union Housing and Urban Affairs Secretary to organise a meeting of the relevant authorities to devise a solution, which would then be presented before the court.
The Bench, led by Justice AS Oka, expressed that if the authorities failed to propose any tangible solutions, they would contemplate issuing severe orders to address the environmental concerns in Delhi and its surrounding areas.
The Bench underscored the significance of the issue, labell..
MCG establishing panels for Gurugram Cleanliness & Waste Management
The Municipal Corporation of Gurugram (MCG) would establish zone-wise citizen supervisory committees, each consisting of five members, to encourage citizen involvement in enhancing cleanliness and waste management. The decision to form these committees was made to address ground-level issues and engage residents. It was revealed that MCG had conducted meetings with residents to devise plans for improving sanitation citywide.
Balpreet Singh, additional commissioner of MCG, stated that committees comprising five members would be established in each of the four zones. He mentioned that th..
Indian rents on the rise; 16% Y-o-Y in March quarter
Rental prices in major Indian cities are experiencing a significant upswing, with a 16% year-on-year increase reported in the March quarter by Magicbricks. This surge is particularly notable in tech hubs like Greater Noida with a 32.1% increase, Gurugram with 24.5%, and Bengaluru with 23.7%.
While demand for rental accommodation remains strong, particularly in the Rs 10,000 to Rs 30,000 per month range (42% of total demand), the supply of rental units is only growing marginally with 1.8% Q-o-Q. This mismatch between supply and demand is a key driver behind the rent increase.
The ..
Q4 profit: Keystone Realtors' profit falls 60%
A 60 % fall was seen in realty firm Keystone Realtors Ltd net profit to Rs 0.3 billion for the March quarter. Last year in the same period. The company?s net profit stood at Rs 0.76 billion.
In addition, total spending increased to Rs 7.81 billion from January to March of the previous fiscal year from Rs 2.71 billion the previous year. In the fourth quarter of the most recent fiscal year, total income increased to Rs 8.26 billion from Rs 3.57 billion during the same period the previous year.
The company's net profit increased to Rs 1.12 billion in the 2023?24 fiscal year from Rs..
Brookfield India Real Estate Trust will acquire a 50% stake
50% of the four Grade A assets from Bharti Enterprises (Bharti) will be acquired by Brookfield India Real Estate Trust (BIRET) as per an agreement between the two. The 3.3 million square feet of commercial real estate included in the deal have an enterprise value of about Rs 60,000 million. The whole equity payment for the 50% interest would be satisfied by giving Bharti first dibs on BIRET units, which are valued at Rs 300 each. After that, Bharti will retain an 8.53% ownership position in BIRET, making it the second-largest unitholder.
The portfolio of properties consists of the op..
