StayAbode – CP Developers to set up Asia’s largest co-living project

By Rohit Sharma BENGALURU: StayAbode Ventures recently announced Asia’s largest co-living project in partnership with CP Developers. This will be the largest A grade co-living project in India with 1400 people living in a community environment, in Bengaluru’s Whitefield. The property will be equipped with the latest in smart technology across security and

MMRDA ends LTSE’s Mono contract, takes over operations

By Accommodation Times Bureau MUMBAI: The Mumbai Metropolitan Region Development Authority (MMRDA), on Friday, terminated the contract which was entered into with LTSE – the joint venture by Larsen & Toubro Ltd. and SCOMI Engineering BHD (LTSE) – for their failure to perform and fulfil contractual obligations. Rajeev, Metropolitan Commissioner, MMRDA said, “This

Mid-Market Housing touches 42% of total transactions in second half 2018-19: Report

By Rohit Sharma MUMBAI: The share of mid-market houses costing Rs 20-50 lakh in the overall residential sales in the country has been progressively rising, touching an all-time high of 42 per cent of total transactions in the second half of the current financial year 2018-19, according to data released by Square Yards. The mid-market houses

Govt – ADB signs $31 Million loan agreement for infra in Tamil Nadu

By Accommodation Times Bureau TAMIL NADU: The Government and the Asian Development Bank (ADB) today signed in New Delhi a Loan Agreement for $31 million to build-up the State Tourism Industry and boost visitor arrivals. The signatories to the tranche 4 loan for Infrastructure Development Investment Program for Tourism (IDIPT) were Sameer Kumar

Incubex NestaVera to invest Rs 100 crore for expansion

By Rohit Sharma MUMBAI: Incubex NestaVera, a coworking firm, is investing close to Rs 100 crore to bolster its network across Bangalore and to expand in other cities such as Hyderabad, Pune and Mumbai and also planning to touch 1 million sq. ft. in the next 18 months. The company has raised the

Drones: the next big disruptive innovation in the Indian construction industry

By AV Antao, COO, Synergy Property Development Services Construction is one of the most dynamic, responsive and unique sectors in the Indian economy. It contributes significantly to the country’s economic development by generating output, creating jobs and facilitating income generation. The Indian construction industry is undergoing a seismic transformation, with technology

MHADA Tender: Construction of 26,959 units for SGNP slum dwellers, tribals

By Rohit Sharma MUMBAI: Mumbai Housing and Area Development Authority (MHADA) has decided to construct 26,959 housing units for rehabilitation of eligible slum dwellers and tribal’s in Sanjay Gandhi National Park (SGNP) with an estimated cost of Rs 3,500 crore. On Monday, it floated tender inviting bidders for this mega project. MHADA clearly

UP govt allocates Rs 1,667 lakh for PMAY- R target

By Accommodation Times Bureau LUCKNOW: The Uttar Pradesh government has sanctioned a total amount of Rs 1, 666.67 lakh by way of the second instalment in the current financial year to construct houses targeted for the year 2018-19 under the Pradhan Mantri Avas Yojna-Rural (PMAY-R). The sanctioned amount includes Rs. 1000 lakh

Dubai developer planning to invest Rs 500 Cr in Mumbai realty

By Rohit Sharma MUMBAI: Gemini Group, a real estate developer based out of Dubai is planning to invest Rs 300-500 crore in Mumbai property market. The company is planning to launch its first project in Mumbai’s prime location by the first quarter of 2019. Sudhakar Rao - Chairman, Gemini Group, told Accommodation Times that,

Finance Ministry issues effective tax rate on complex, building, flat

By Accommodation Times Bureau NEW DELHI: It is brought to the notice of buyers of constructed property that there is no GST on the sale of the complex/ building and ready to move-in flats where the sale takes place after an issue of completion certificate by the competent authority. GST is applicable