A warm welcome to our weekly news roundup section. Let’s get started
Starting with some good news! The Centre has approved a land pooling policy for Delhi, which will let the capital to develop 17 lakh housing units capable of accommodating 76 lakh people.
The Supreme Court decides to end the hide & seek game of the directors of Amrapali and sends three directors to police custody on Tuesday. They will remain in police custody till each and every document relating to accounts of all 46 group companies are handed over to forensic auditors appointed by SC.
Next Update from the housing sector. Across top 9 Indian cities, home sales grew 6% to 51,142 units in July to September, aided by continuous recovery over the past few quarters. The new launches across the major cities decreased 22% sequential.
Next news from the commercial sector. Office leasing in India tops 32 million sq. ft. in 2018’s first three quarters. Majorly the occupants from the technology sector lifted up the space take-up in the country with a share of 48%.
A glance on builder’s affairs. Builders are leasing out unsold property to face the estimated Tax burden as they might be soon loaded with a tax burden that probably none of them was accounted for.
That’s all for this week from the real estate sector, we’ll come up with another set of weekly roundup next week until then stay safe and stay updated.