Shriram Properties acquires four acre land parcel in Bengaluru 

Shriram Properties https://www.shriramproperties.com/contact-us will develop a residential project encompassing around four lakh sqft of aggregate seleble area. 

This project has revenue potential of over Rs 250 crore. Shriram Properties (SPL) has acquired a four acre land parcel in Chandapura, near Electronic City, Bengaluru. The company will develop a  residental project encompassing around four lakh lakh sq ft of aggregate saleable area, comprising approximately 350 apartments. This project has revenue potential of  over Rs 250 crores and is expected to be develop over the next three years. It is expected to launch during  the current financial year. SPL has a pipeline of 47 projects with 51 million sq ft of saleable area, including 25 ongoing projects with aggregate saleable area of 23.5 million sq ft as of March 31, 2024.
 

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Bengaluru’s Mantri group tells SC it has given possession in its delayed project, but flats don’t have an OC.

Supreme Court https://www.sci.gov.in/  hearing, Bengaluru-based developer Mantri Castles Private Ltd told the apex court that it had offered possession to buyers of flats in its delayed Mantri Serenity project. On April 30, the Supreme Court (SC) took cognisance of the issue based on submissions made by Senior Counsel Bishwajit Bhattacharyya, who is representing the homebuyers. 

About 48 homebuyers from the delayed project had approached the SC after the developer failed to offer possession between 2015 and 2019.

The company told the court on April 2, 2024, that letters of possession had been issued to all buyers, yet several had not taken possession of their flats.

Buyers had initially moved the National Consumer Disputes Redressal Commission (NCDRC) https://ncdrc.nic.in/ when the developer did not deliver their homes within the promised timeframe. Based on the NCDRC's advice, 48 buyers who had booked flats between 2013 and 2016 for Rs 75-95 lakh, approached the Supreme Court.

"Homebuyers have still not been given possession despite having paid about 100 percent of the amount. The court directs that the concerned flats/property/premises be handed over to the appellants within one week," the order dated November 7 said.

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Greater Chennai Corporation identifies 25 hospota where construction debris gets dumped regularly

Those responsible, including private parties and government contractors responsible for laying roads and constructing storm-water drains, have been heavily fined, says GCC Commissioner J. Radhakrishnan. Construction debris continues to be dumped in many public places across the city, with the Greater Chennai Corporation (GCC)  identifying 25 hotspots. 

GCC Commissioner J. Radhakrishnan said repeated dumping of debris was taking place mainly in parks and their vicinities and near Metro Rail stations. “Debris continues to be dumped in the pathways behind Arupadai Veedu Murugan temple in Besant Nagar Valmiki Nagar in Thiruvanmiyur.

Construction debris continues to be dumped in many public places across the city, with the Greater Chennai Corporation (GCC) https://chennaicorporation.gov.in/gcc/ identifying 25 hotspots.

GCC Commissioner J. Radhakrishnan said repeated dumping of debris was taking place mainly in parks and their vicinities and near Metro Rail stations. “Debris continues to be dumped in the pathways behind Arupadai Veedu Murugan temple in Besant Nagar. This has been going on since 2018. Initially, they were dumping small amounts, but now, they dump large amounts of debris,” said G. Surendran, a resident of the area.

The debris was temporarily cleared for laying a road, which itself is a violation, he says. “If the road is laid, heavy vehicle movement will begin and debris may be dumped in several places inside the area,” he said.

Valmiki Nagar in Thiruvanmiyur is another hotspot.

The rise in real estate development has also been cited as an issue by many. According to the Confederation of Real Estate Developers’ Associations of India (CREDAI), Chennai Chapter, the real estate market has seen a boom after seven years across the State, including Chennai.

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Housing Loan: How to Choose the right home loan lender. 

Selecting the appropriate home loan lender is a vital step in the home-buying process. It can  influence not just the interest rate you receive, but also the overall cost, simplicity, and transparency of the transaction. However, it’s important not to rush into making this decision. Instead, take the time to secure quotes from a few lenders to compare interest rates, fees, and terms.

The factors to consider when deciding on the right lender for your needs.

1.Verify the lenders credibility: 

lender’s credibility, reputation, and history is essential before relying on them to finance your home.

2. Examine interest rate: 

Interest rates and loan terms are key aspects to consider when selecting a home loan lender, as they play a significant role in determining the affordability of your home purchase.

3. Check the loan Terms: 

The loan conditions and repayment alternatives offered by various lenders. Seek out flexibility in terms of the duration of the loan, enabling you to select a repayment period that aligns with your financial abilities

4. Pay attenction to the paperwork: 

Being aware of the necessary documents in advance enables you to gather everything efficiently. Familiarizing yourself with the lender’s approval process helps set realistic expectations. You will gain insight into the qualifications they look for, credit score prerequisites, and the expected timeframe for approval.

5. Factors in the expanses: 

Each lender may have different fee structures, such as origination fees, appraisal fees, and closing costs, so it is important to compare these costs among potential lenders. By doing so, you can fully comprehend the financial impact of the loan.

6. Transparenc Matters: 

When selecting a lender for a home loan, it is important to be mindful of any unforeseen expenses that certain lenders may impose following approval. The lender should openly provide all loan terms, flexibility options, available loan products, and necessary documents. This allows you to compare offers accurately and select the loan that best aligns with your needs.

Selecting the appropriate lender for your home loan is critical and can have enduring effects on your financial well-being. By adhering to these guidelines, you can identify a trustworthy lender to assist you in achieving your homeownership aspirations.

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