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Acquisition of private property unconstitutional if proper procedure not followed: SC

NEW DELHI: Compulsory acquisition of private properties will be unconstitutional if proper procedure is not established or followed before depriving a person of their right to property, the Supreme Court said on Thursday. In a significant verdict, the top court said even the statutory scheme of payment of compensation in return for acquisition of private properties will not be justified if the due procedure is not followed by the state and its instrumentalities.

DLF Cyber City Developers' office rental income rises 7% to Rs 3,460 crore in FY 24

NEW DELHI: DLF’s joint venture firm DCCDL’s rental income from office buildings increased 7 per cent annually to Rs 3,460 crore in the last fiscal, driven by rent appreciation and expansion of the asset portfolio

China mulls government purchases of unsold homes to ease glut

(Bloomberg) — China is considering a proposal to have local governments across the country buy millions of unsold homes, people familiar with the matter said, in what would be one of its most ambitious attempts yet to salvage the beleaguered property market.The State Council is seeking feedback from several provinces and government entities on the preliminary plan, said the people, asking not to be identified discussing a private matter. While China has already experimented with several pilot programs to clear excess housing inventory with the help of state funding, the latest plan would be much larger in scale.

Mumbai real estate: MahaRERA frames specs for old-age homes

Mumbai: The state housing regulator MahaRERA has framed minimum physical specifications for retirement homes and senior citizen housing projects, also known as old-age homes.

The new regulations will be applicable across Maharashtra for new project proposals. Compliance should be reflected in the agreement for sale as well, the regulator has said. 

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