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Real Estate 2021

Parsvnath cancels 15-year-old joint venture to build project in Chennai

Chennai Parsvnath has cancelled its joint venture agreement with Sumeru Soft(SSPL) and Gomathi Visweshwaran Trust (GVT) to develop a project situated at OMR Road, Chennai, the company said in a BSE filing. The company had entered into the JVA in 2006 with SSPL and GVT for development of multi facility complex comprising of residential apartments, service apartments, commercial, IT/ITES Parks etc. on...

GRAP measures come into force in NCR as pollution level likely to spike after Oct 21

Delhi/NCR With air quality likely to touch the “moderate” to “poor” range between October 21 and 24, certain measures under this category of the Graded Response Action Plan (GRAP) was implemented with immediate effect in National Capital Region (NCR) from October 18. The Central Pollution Control Board has directed the agencies concerned to ensure that all brick kilns remain closed, there is...

Greater Noida authority to recover GST dues from allottees

Delhi/NCR The Greater Noida Authority will soon initiate a drive to recover the pending Goods and Services Tax (GST) from its allottees. Authority officials, however, clarified that residential allottees will not have to pay the tax for urban services as the GST Council considers the industrial authorities as civic bodies. From July 2017, the Authority started imposing 18% tax on its allottees....

Over 560 building plans approved during Aug-Sept in Nashik

Nashik The real estate sector in the city has got a boost in the August-September period due to the festive season beginning with Ganesh Chaturthi and relaxations in the Covid restrictions.  Nashik Municipal Corporation (NMC) has received 1,485 building plan proposals so far since April this financial year, including 871 proposals in just the August-September period. The civic body’s town planning...

Only 32 properties sold in Chandigarh housing board auction

Chandigarh Chandigarh Housing Board (CHB) received poor response to its auction of 163 leasehold properties, including commercial and residential and 28 residential freehold properties. Out of 191 properties, CHB could auction only 32, including nine residential freehold; four residential leasehold and 19 commercial leasehold units. Even reduction in reserve prices failed to produce the desired effect...

Thiruvananthapuram: Construction sites to shut for a day

Thiruvananthapuram The work at the construction sites run by the members of CREDAI Trivandrum and Builders Association of India (BAI), Trivandrum, will be stalled on Wednesday in protest against the alleged attack on Arun Unnithan, district vice chairman of BAI, by a trade union representative at District Labour Office (DLO). Museum police filed an FIR on October 19 based on a complaint filed by the...

Delhi: DPCC imposes Rs 90 lakh fine on construction sites so far

Delhi/NCR Delhi Pollution Control Committee (DPCC) has imposed penalties of Rs 90 lakh after finding violations at 286 construction sites, so far, in the capital.  Environment Minister Gopal Rai said, under the ongoing anti-dust campaign, DPCC teams had visited 1,105 construction sites. “The norms were found to be followed at most sites. The sites where violation was found have been issued notices by...

ACC’s net profit increases 24% at Rs 450.21 crore in Q3 2021

ACC has reported a 24 percent increase in its net consolidated profit during the quarter ended September 2021. It recorded a Profit After Tax (PAT) of Rs 450.21 crore in Q3 2021 as against Rs 363.85 crore it registered in the corresponding quarter previous fiscal, the company said in a BSE filing. The company's total income stood at Rs 3,812.31 crore in Q3 2021, a increase of 6 percent from Rs 3,582.82...

Sabre Partners buys 13.4% stake in Aviom India Housing Finance

Sabre Partners, an India focused private equity fund, has picked up about 13.4% stake in Delhi-based startup Aviom India Housing Finance for $8 million, valuing the privately held lender at Rs 450 crore. The deal was concluded last week, Aviom Founder-cum-Managing Director Kajal Ilmi told ET. The lender, which doubled its asset under management to Rs 550 crore in a year, is aiming to grow its book to...

HeidelbergCement India’s profit dips 4.55% to Rs 59.56 crore in Q2 FY22

HeidelbergCement India has reported a 4.55 percent decline in its net profit to Rs 59.56 crore for the second quarter ended September 2021. The company had reported a net profit of Rs 62.4 crore in the corresponding quarter of the last year, it said in a BSE filing. Its revenue from operations stood at Rs 569.24 crore during Q2 FY22, 11.03 percent increase from Rs 512.69 crore ot recorded in the similar...

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