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Inspection of 50 Gurugram properties for building violations
Greater Noida: 6.5K Flats Registration
In a significant development for the real estate sector, approximately 6,500 flats in Greater Noida are set to be officially registered soon. This mass registration process is expected to streamline property ownership and boost transparency in the region's real estate market.
The initiative aims to provide legal clarity and authentication for homeowners, fostering a more secure and accountable property landscape. With the real estate market playing a crucial role in Greater Noida's economic growth, this move is anticipated to enhance investor confidence and promote a healthier housing..
Critical Ruling: Bombay HC Emphasizes Fire Safety Beyond Highrises
In a landmark decision, the Bombay High Court has underscored the indispensable significance of fire safety measures, extending its emphasis beyond high-rise structures. This pivotal ruling reinforces the imperative for stringent fire safety protocols in all buildings, irrespective of their height. The court's decision, serves as a crucial reminder for property owners and developers to prioritise and adhere to comprehensive fire safety standards. The judgment comes in response to a case highlighting the need for robust fire safety even in non-highrise buildings. The court's stance reflects a c..
Karnataka HC: No Blanket Ban on Plot Approvals Under 50 sqm
In a landmark decision, the Karnataka High Court has ruled against implementing a blanket ban on plan approvals for plots smaller than 50 square meters. This verdict marks a significant development in the state's real estate landscape, providing relief to property owners and developers navigating restrictions.
The court's decision is poised to stimulate the real estate sector, particularly for smaller land parcels, unlocking new possibilities for development.
This judgment addresses concerns that previously hindered the progress of projects involving compact plots. The nuanced..
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..
