Realty News Roundup: Oberoi Realty Raises Rs 324 Cr; Priyanka Chopra Buys A Luxury Apartment In Mumbai
Realty News Roundup is PropGuide's selection of top stories from the real estate sector
Top News
Oberoi Realty has raised over Rs 324 crore by issuing preferred stock to the Mauritius-based Aranda Investments. Aranda Investments is a foreign portfolio investor and a wholly-owned indirect subsidiary of Temasek Holdings, an investment company owned by the Singapore government. Read here.
The Uttar Pradesh Stamp & Registration Department announced that they will not hike the circle rates for flats in Noida and Greater Noida this year. Read here.
In the Chandigarh Municipal Corporation, residential property tax has become a contentious topic. When the central government included imposing residential property tax and water tariff rates among their key proposals to generate revenues to get the smart city tag, this emerged as a major source of conflict. Councillors from the BJP and the Indian National Congress opposed imposing residential property tax. Read more.
Off the front page
Bollywood actress Priyanka Chopra bought a new luxury apartment in Mumbai. She is likely to move into her new apartment in August, 2015. According to this report, a source close to the actress said, "Priyanka, who is currently staying in Yari Road, Andheri (West) , had been looking to move to a bigger place along with her mother and brother for almost a year now. She owns three apartments in Raj Classic, but wanted a bungalow for her family. Over the past year, she checked out many houses and met dozens of real estate agents, but no property caught her fancy. A few months ago, she chose a house in JVPD scheme and will shift there by the end of August."
In a crucial verdict, the National Consumer Disputes Redressal Commission ruled in favor of home buyers. The National Consumer Disputes Redressal Commission ruled that the people who bought apartment units in a residential project in Delhi should be compensated because the builder did not finish the construction process on time. Read here.
Opinion
On FirstPost.com, Vivek Kaul, author of the Easy Money trilogy, argues that the government should curb domestic black money. Read here.