Get ready for the most anticipated event in the real estate industry!

7th Real Estate Awards and Construction Industry Leadership Awards 2024

Brace yourselves for the most awaited event in the real estate industry – the 7th Real Estate Awards and Construction Industry Leadership Awards 2024! Scheduled for Saturday, 4th May 2024, this prestigious event promises an evening filled with recognition, celebration, and networking opportunities for the crème de la crème of the real estate and construction sector.

Event Details:
Date: Saturday, 4th May 2024
Time: 6:00 PM onwards
Venue: THE CLUB, Courtyard II, D.N. Nagar, Andheri(W), Mumbai

The Real Estate Awards, presented by Realty Quarter, is an esteemed platform that acknowledges and applauds the exceptional accomplishments and contributions of individuals and organizations within the real estate and construction domain. This year’s awards ceremony will honor excellence in various categories including Best Residential Project, Best Commercial Project, Best Green Project, Best Affordable Housing Project, Best Architecture Project, Best Interior Project, Best Real Estate Company, Best Construction Company, and more.

Why should you Participate?
17 Years of Legacy & Trusted Brand in REAL ESTATE Media.
40+ Builders Developers & Construction Companies
10+ Leaders and Celebrities.
10+ Institutional Channel Partners.
10+ top Broker Association Presidents.
15+ Digital Media Platforms.
10+ Top Leading Club Members.
5+ Leading Newspapers
150+ RERA Registered Channel Partners.
50+ Top Real Estate HNIs, Investors & Buyers.
Architects, Interior Designers, Exporters, Importers & Corporate Owners.
300+ Respective Invitees & Guest
Return Gift: 200+ For Every Respective Guest.

Sponsorship Opportunities:
Various sponsorship categories such as Title Sponsorship, Gold Sponsorship, Silver Sponsorship, and Venue Sponsorship are available. For sponsorship inquiries, please call 9820659743 or 8279547396.
Visit: Real Estate Awards

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NEW DELHI: The Delhi High Court has quashed the Enforcement Directorate’s ECIR against India bulls Housing Finance Ltd. and several of its employees, ordering that no further coercive action be taken against them in a case where the FIR was already quashed by the Bombay High Court.

The high court also set aside the Lookout Circulars (LOC) issued against those employees and stated that no search, seizure, or summons will be issued as a result of the Enforcement Case Information Report (ECIR).

Concerning the accused’s challenge to certain provisions of the Prevention of Money Laundering Act (PMLA), the high court bench of Justices Mukta Gupta and Anish Dayal stated that the Supreme Court had already decided it in an earlier judgement.

Referring to the Supreme Court decision, the high court stated,”… this court finds no reason for the said ECIR to be sustained against them, in the absence of any evidence of a predicate offence or an FIR against them that is in existence or is legally alive.”

The high court was hearing a number of petitions filed by India bulls Housing Finance Ltd (IHFL), India bulls Asset Management Company Ltd, and several of their employees challenging the ECIR filed by the ED and the subsequent proceedings.

They claimed that the ED had arraigned them in the ECIR despite the fact that no underlying predicate offence had been registered against them. According to them, the Bombay High Court has already quashed the FIR registered at Maharashtra’s Palghar police station in relation to the alleged predicate offence based on a complaint by one of the shareholders that he suffered losses as a result of the devaluation of his shares as a result of suspected money-laundering and misdealing by IHFL.

The high court stated that once the predicate order under section 156(3) CrPC and the FIR was quashed, there would be no residue in the matter against the accused regarding the allegations made in the complaint and crystallised in the FIR. “In all of these cases, both of the employees against whom no complaint was ever filed for the scheduled offences and those against whom a complaint was filed and was subsequently quashed by a court of competent jurisdiction,” it said.

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Shri Sandeep Runwal, President of NAREDCO Maharashtra, says, “We’re delighted to be associated with Riteish and Genelia for our Homethon Property Expo. While they are a true embodiment of the culture of Maharashtra, they also perfectly represent the home buyers’ profile of today in all terms. Since we are committed to providing exceptional and unparalleled experiences that align with changing consumer preferences, we are confident that our collaboration with them will strengthen our efforts to provide even more value to our customers. The upcoming festive property expo is an excellent opportunity for fence-sitters to convert into actual home-buyers as the property market is on an upward trend.’’

He added, “With the Jio Convention Centre, we have selected one of the best and most glorious event venues for the exhibition. It serves as a perfect backdrop for an event of this magnitude and provides 1 Lakh Square Feet of pavilion space for the top real estate developers to showcase the best and most premium real estate projects in the state. As a result, it’s a win-win situation for both participants and consumers.”

The gorgeous actor-producer-entrepreneur Genelia D’Souza says that she is excited to be a part of the event. She said, “If you are looking for a home, Homethon will make your search much, much easier. Make sure you are there between 30th September and 2nd October and don’t forget to register today on www.homethon.com for early benefits.”

Actor-producer-entrepreneur Riteish Deshmukh, who is known to bring a smile wherever he goes, seconds his wife about Homethon as a place where prospective homeowners can find the home of their dreams. He adds, “Here you could meet 150+ developers, check 1000+ properties and have access to numerous schemes and discounts.”

The Homethon Property expo will be a golden opportunity for channel partners where Special Incentives will be provided for closing deals at the Exhibition. The expo, which is expected to be the country’s largest exhibition, will also include a business lounge, a conference area and a networking centre, where attendees can interact with industry veterans and stalwarts. To ease the commute, transportation from key locations in Mumbai to the exhibition venue will be made available. For the visitors, there will be free entry, no parking charges and will get ample opportunities to win lucky draw prizes.

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Bangalore, 21 September 2022 – CapitaLand Hope Foundation (CHF), the philanthropic arm of CapitaLand Group, has launched its second CapitaLand Hope School in Bangalore, India to provide more than 400 children from underserved families with access to education.  CHF has contributed INR 50 million towards the construction of the school, which is the 31^st of the CapitaLand Hope Schools which span across India, China, and Vietnam.  Through the schools, CHF aims to provide children with a holistic education for a better start in life.

Located in Krishnarajapuram, Bangalore, the 20,000-square foot Government Kannada and English Medium Higher Primary School comprises eight classrooms, a staff room, a multi-purpose room, a playground, a kitchen, a sick room, library, computer and science laboratories, art & crafts room, and lavatories.  

CapitaLand staff volunteers and partners collaborated and built the school over a one-year period.  CapitaLand staff from International Tech Park Bangalore provided their real estate expertise to Karnataka Education Department including designing and managing the development of the school. Indian contemporary artist Madhuri Umashankar designed The Hope Wall which was unveiled at a ceremony for the handover of the school on 19 September 2022. 

CHF also partnered with an international non-profit organization, Room to Read, to set up the school library with materials to improve literacy amongst the children.  This is the 14^th library that CHF has established with Room to Read since they launched libraries across Bangalore to benefit some 2,000 children in March 2022.

 Mr. Gauri Nagabhushanam, Chief Executive Officer, India Business Park, CapitaLand Investment said: “We are extremely proud to complete our second Hope School in Bangalore to help over 400 children and their immediate families.  We are passionate about education and have contributed over INR 100 million to develop three schools, two in Bangalore and an upcoming school in Pune.  We take an active role in setting up the schools and continue to engage the children as well as contribute in various ways including donating various items and organizing activities for them.  It is extremely heartening to be able to reach out and touch the lives of the communities as we grow our business in India.”

Mr. D R Ramamurthy, Block Education Officer, South – 4, Krishnarajapuram, Bangalore said: “On behalf of the education department, we would like to extend our sincere thanks to CapitaLand Hope Foundation for building this state-of-the-art school in Krishnarajapuram for students from underserved families. These modern facilities are unmatched by any school across Bangalore and will immensely help our long-standing need to have this school and ‘Guru Bhavana’ (education office) in East Taluk. With deep appreciation and gratitude, we acknowledge CHF’s contributions towards the children and society, and we would like to continue collaborating with them for great work in the future.”

 CapitaLand #GivingAsOne campaign

CapitaLand is distributing 2,500 school kits to the CapitaLand Hope School in Mahadevpura as well as children across Bangalore, Chennai, Hyderabad, and Pune as part of its #GivingAsOne campaign.  Each kit contains a notebook, a geometry set, a pen, a pencil, and a dictionary.  Held from September to October this year, #GivingAsOne brings CapitaLand staff and partners together to do good by uplifting the lives of vulnerable groups and supporting the environment in communities where CapitaLand operates.  Staff is also rallied to pen messages of hope and encouragement through #Pen4Hope for children and seniors in  Singapore, China, India, Malaysia, and Vietnam.  CHF will donate INR 1,100 for every message and volunteer hour contributed.  Other than the distribution of the school kits, CapitaLand will be unveiling the upcoming hope school in Pune.

 Mr. Tan Seng Chai, Chief Corporate and People Officer of CapitaLand Investment and Executive Director of CHF, said: “As a socially responsible company, CapitaLand is committed to contributing to the environmental and social well-being of our communities.  To provide a conducive learning environment and improve children’s access to education, we have helped to build 31 schools benefitting over 28,000 children in China, Vietnam, and India since 2005.  We also support seniors and conservation efforts through various programs.  Through our annual #GivingAsOne campaign, we galvanize our staff and partners to come together to give back as it is through collective action that we can truly make a positive and meaningful impact in the communities.”

 About CapitaLand Hope Foundation (www.capitalandhopefoundation.com)

CapitaLand Hope Foundation, the philanthropic arm of CapitaLand Group, was established in 2005. As a registered charity and grantmaker, the Foundation aims to nurture and inspire the young, improve the quality of life of seniors, and protect the environment for future generations, with a focus on communities where CapitaLand operates. Going beyond donations, the Foundation also advocates volunteerism as an integral part of building a caring and inclusive community.

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Commenting on the impact on rental business, Dr. Sachin Chopda, Managing Director, Pushpam Group said, “The decision by the Government to implement the new GST rules will curb the rising demand for rental business across the real estate industry. In recent years, the rent has been an important source of income for many, therefore the current regime is going to impact the sentiments of the homebuyers for the period to come. The Government should soon intervene and provide a few measures that shall encourage the end-users to continue their investments.”

Reiterating the same, Mr. Jitesh Lalwani – President, Homesync Real Estate Advisory said, “The introduction of 18% GST on residential rentals will have a major impact on the homebuyers sentiments. The decision will also have a severe effect hampering the demand for rental real estate.”

“Rental businesses have become one of the major sources of income for people and with the new rule in GST, the residential rental market is expected to get impacted. Earlier the GST was only levied on the commercial properties that were open for rent, now focus has shifted to the current soaring residential rental market which might experience a little downside,” said Mr. Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory.

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The new Evacuation Safety Circular is a step towards improving evacuation routes for residents anda Safer andFaster Mode for Fire Officers to reach High – Rise Floors during fire emergencies in Maharashtra

 Mumbai, July 21, 2022:The most landmark Circular issued by Maharashtra State’s Energy Department in conjunction with the Municipal Corporation and the Fire Departmenthas made it mandatory to install and operate a Fire Evacuation Lift in every High-Rise Building scaling 70-meters and above since January 2018. The Energy Department has issued the Circular as ‘Advisory on Installation of the Fire Evacuation Lifts in the High Rise Buildings having height 70 Meters and above.”

 Making the ‘Fire Evacuation Lift’ mandatory is seen as a visionary step in providing Safer and Faster route for Fire Officersto reach the higher floors to save lives and assets. Meanwhile, it is one of the safest and fastest modes for evacuating people stranded in emergency situations of fire in High Rise Buildings. Maharashtra has become the first State in India to make Fire Evacuation Lifts mandatory for buildings 70meters and above since January 2018 in what is termed as the solution to mounting emergencies during fire-fighting and provide a safe evacuation mechanism for people and assist Fire Officers to save lives and assets.

As part of the evacuation solutions, many Developers of High – Rise Buildings in the cities like Mumbai have installed or are currently opting to install non-standardized or low graded Fire Evacuation solutions/Lifts. However, these Non-standard Fire Solutions/ Evacuation Lifts may not provide right security and safety to people in the event of a fire due to compromise in quality by the builders and regular passenger lift makers. In contrast, the Fire Evacuation Lifts are a far more secure and safer option and are developed by specialized teams of a Fire Evacuation Lift Manufacturer. It protects and enables fire-fighters to reach higher floors faster and evacuate a group of 10-18 people of all ages and abilities including pets at one given time in less than three minutes(i.e. almost 100 people in 30 minutes approximately). It also enables the Emergency Response Team (ERT) to reach any floor within a minute to fight fire, save lives and assets and thus reduce losses.

As per the New Circular, henceforth, it is mandatory to obtain the permission for erection and License for operation of Fire Evacuation Lifts in the State of Maharashtra.

Further, it will provide a much awaited solution to the Fire Brigades across cities in Maharashtra and the ERTs in combating emergency fire situations in High – Rise Buildings, as they can use the ‘Fire Evacuation Lifts’ to reach to higher floors rapidly to evacuate people and save assets by dousing fire more efficiently and timely.

The implementation of the new Circular shall be effective immediately from the date of issue for the upcoming Fire Evacuation Lift installations and shall apply with retrospective effect to the existing Fire Evacuation Lift installations.

High-Rise Buildings scaling 70-meters and above in heights in Maharashtra will have to put in place the necessary infrastructure, such as Fire Evacuation Lifts, which provide a much safer and more secure option.This Circular, will begin a new chapter of fire evacuation in Maharashtra.

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The Securities and Exchange Board of India (Sebi) announced the auction on July 15, 2022, from 11 a.m. to 1 p.m. Office premises, residential flats, land parcels, shops, land & buildings in Gujarat, Maharashtra, Goa, Daman, and Dadra and Nagar Haveli are among the properties up for auction.

More than 266 properties were auctioned off between November 2019 and March 2022, with a reserve price of Rs 1,297 crore.

The move followed a Supreme Court judgement in December 2019 for the sale-cum-monitoring committee, led by retired Justice J P Devdhar, to sell 114 properties owned by the firms within six months.

Citrus Check Inns and its directors were fined Rs 50 lakh by Sebi in December 2018 for failing to comply with its order, which prevented them from raising funds from the general public.

Sebi has received multiple investor complaints against Citrus, stating that Royal Twinkle’s directors were administering their Collective Investment Scheme (CIS) through Citrus.

The regulator had issued a four-year ban on Royal Twinkle and its four directors in August 2015 for illegally generating over Rs 2,656 crore in the guise of bogus “timeshare” holiday plans.

Furthermore, it had asked the company and its administrators to repay the money to the investors, along with the promised returns, within three months.

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The Ahmedabad Municipal Corporation (AMC) is nearing completion of an agreement with Google to help geotag every property in the city, so that a simple unique alphanumeric digital id can designate these properties in order to develop a ‘Unique Address System’ (UAS) for the city, similar to Google’s ‘Plus codes’.

Once the UAS code is entered into Google Maps, it will assist persons in receiving meals and consignments, calling ambulances and cabs, receiving postal deliveries, and even assisting people in safely to your address. These distinct identifiers will serve as Amdavadis’ new ‘smart addresses.’

According to AMC sources, the civic body approached Google six months ago with a request to map city properties. For the past six months, talks have been ongoing to address “important problems” such as data protection. AMC has insisted that an MoU be inked only if Google’s India office, not its California headquarters, is involved in the agreement.

Google has now mapped its Plus Code addresses to a couple of Indian cities, including Pune and Kolkata. There are around 20 lakhs properties, over 15 lakhs of which are formally registered with the municipal corporation for property tax. UAN, or unique addresses for properties, are made up of a set of 20 alphanumeric characters. They won’t be case-insensitive and does not include vowels. On a trial basis, the AMC may ask Google to give codes to homes in a specific ward.

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On Friday afternoon, the two were apprehended near the Bombay High Court. Ahuja Constructions is well-known in Central Mumbai and the western suburbs for its distinctive luxury constructions.

Last March, the 14th Metropolitan Magistrate Court convicted and sentenced them to six months in uncomplicated imprisonment.

They were also ordered to pay Rs 14.7 lakh in compensation to the petitioner within 30 days, or face another three months of simple imprisonment. The complainant is a Breach Candy resident who filed a lawsuit against Ahuja Properties and Developers and its two directors, Jagdish and Gautam Ahuja, under Section 138 of the Negotiable Instrument Act.

In October 2015, the accused sought the complainant for a “friendly loan” of Rs 10 lakh on the condition that it be repaid within 12 months with a 20.4 percent interest rate. He agreed to make the loan because the complainant was a family friend.

The complainant further said that the accused paid two quarterly interest payments on time. However, the cheque for the third quarterly payment of interest was returned unpaid. This led the complainant to lodge a complaint. According to the conviction ruling, he indicated that two cheques for the fourth quarterly interest were likewise returned due to “insufficient balance.”

According to property market sources, many complaints have been launched against the construction firm and its directors in various courts for alleged cheque bouncing.

According to city police, the duo was also arrested under the Maharashtra Protection of Interest of Depositors (MPID) Act.  A couple from Pune accused them of scamming them of Rs 2 crore.

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Officials claimed that after the increase, the transfer duty will be 4% for men and 3% for women buyers.

The initiative aims to improve the municipality’s financial health, which has been severely impacted in recent years, particularly owing to the Covid-19 pandemic. It is the first important decision following the unification of the three civic bodies – north, east, and south – last month.

A request to increase the transfer duty by 1% was moved during a meeting on Tuesday, and the decision was made.

The idea was approved by a special officer of the Municipal Corporation of Delhi (MCD), who has been given the authority to manage the civic body until a new House is elected.

“A proposal to increase transfer duty on properties priced above Rs 25 lakh by 1% was proposed to the special officer in charge of the standing committee. The Special Officer gave their approval to the proposal. After the increase, transfer duty will be 4% for men and 3% for women.” PTI obtained information from official sources.

The transfer duty on property sales and purchases in the national capital is currently 3% for men and 2% for women buyers.

The move comes amid the civic body’s dire financial situation, which has seen it struggle to even pay its employees’ salaries.

Officials stated that “the move would generate revenue and reinforce MCD’s coffers, which will be used to overcome financial issues and provide the finest services to the people.”

The Delhi government collects stamp duty on the sale and purchase of properties, which are classified into eight categories: A, B, C, D, E, F, G, and H.

Golf Links, Vasant Vihar, Sunder Nagar, and Jor Bagh are examples of posh and affluent colonies in category A and B. Middle-income neighbourhoods are classified as C and D, and include areas like as Lajpat Nagar, Alaknanda, Bhogal, and Amar Colony, among others.

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