#RealtyNewsRoundup: 34 Per Cent Of Residential Space Delayed By 12 Months, Liases Foras Report Says

Realty News Roundup is the PropGuide's selection of top stories from the real estate sector.

Top News

Of the total residential space under construction across 25 cities—around 3.2 billion sq ft—around 1.1 billion sq ft or 34 per cent of the total space is delayed by over 12 months, The Economic Times reported. The report was released by independent property research firm Liases Foras. This delayed space is valued at Rs 165,064 crore, which is around 1.32 per cent of the GDP, the report added. Read more 

The Allahabad high court has set aside the Ghaziabad Development Authority's (GDA) decision to allot the land resumed (transferred) from the Ghaziabad Municipal Corporation to two Noida-based private developers, Hindustan Times reported. The process of resumption involves the transfer of government land from one department to another. However, under the law, the ownership remains with the state government, the report added. Read more 

Delhi's Central Business District (CBD) of Connaught Place has been ranked as the sixth most expensive prime office market in the world in the recently published report by CBRE Global. London's West End was the world's highest-priced office market for the second straight year. Read more

Off the frontpage

Real estate developers, who are facing a large stock of unsold apartments, are now pushing their properties through real estate-focused websites, which sell them at a discount, says a Business Standard report. Read more

Dabur Group's promoters, the Burman family, have entered the real estate business in London and Miami through a company known as Elephant London. Read more