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Ascendas Singbridge to develop 16 million sq ft office space in 3-4 years

AMRAVATI: Ascendas Singbridge, the largest foreign real estate developer in India, plans to develop 16 million square feet office space in next three to four years to double the space owned and operated by it in the country, a top official said on Thursday.The Singapore-based company, whose core business is development of IT parks, has…

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economy
Noida: 3C’s Lotus firm faces insolvency proceedings

NOIDA: The 3C Company on Thursday became the third major Noida-based developer after Jaypee and Amrapali to become embroiled in insolvency proceedings. In response to a plea by buyers who have not received their flats, the National Company Law Tribunal (NCLT) appointed an interim resolution professional to resolve the financial liabilities of Granite Gate Company,…

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economy
Seven-member panel formed to consider GST rate cut on under-construction properties

NEW DELHI: The GST council on Thursday formed a seven-member ministerial panel to examine the proposal of giving a composition scheme to boost the residential segment of the real estate sector.The meeting was chaired by finance minister Arun Jaitley and his state counterparts. A decision on this expected in the next GST council meeting.Niranjan Hiranandani,…

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economy
NCLT admits insolvency plea against Parsvnath Landmark Developers

The National Company Law Tribunal (NCLT) has given its approval to start the insolvency proceedings against realty firm Parsvnath Developers’ subsidiary, which is developing a housing project in the national capital. The NCLT, Delhi, has admitted an insolvency petition filed by three home buyers against the subsidiary firm – Parsvnath Landmark Developers – for inordinate…

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economy
Realty reforms will help attract global investors: Martin Samworth

File photo With amazing demographic, improving regulations, policy reforms and strong demand-supply balance, India’s fundamentals are in favour of attracting more global institutional investments. The outlook on Indian real estate has been turning positive from global investors’ perspective owing to regulatory reforms, said Martin Samworth, Group President and Chief Executive Officer (CEO), CBRE Europe, Middle…

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economy
Centre to launch tech challenge to address housing shortage

To address the issues related to housing shortage in a time-bound manner, the Centre will launch the ‘Global Housing Technology Challenge’ here on Monday, officials said.Union Housing and Urban Affairs (HUA) Minister Hardeep Singh Puri will launch the initiative under the Pradhan Mantri Awas Yojana-Urban (PMAY-U), Ministry Secretary Durga Shanker Mishra said.”Global Housing Technology Challenge-India…

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