#RealtyNewsRoundup: UP-RERA To Audit Ansal’s Gr Noida Projects
Description
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) may start a financial audit of all Greater Noida-based projects of Ansal API on charges of fund diversion. An earlier audit of the realtor’s Lucknow projects showed the company diverted over Rs 600 crore of homebuyers’ money.
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Authorities have decided to leave ready reckoner (RR) rates across Maharashtra unchanged for the third time in a row. In a late-night move on April 1, authorities said property would be sold based on the rates prevalent in 2017-2018, a move welcomed by realtors.
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The Embassy Office Parks REIT, India’s first share sale in a property collection under one operator, on April 1 became the country’s second-most valuable real estate company on its stock-market debut. On that day's closing price, the Embassy REIT was valued at Rs 24,238 crore, second to DLF, the market leader with Rs 38,474 crore capitalisation.
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Following an order of the Supreme Court, the Haryana government on April 1 demolished 10 houses in Kant Enclave, a colony in Faridabad that has encroached on Aravali land. More properties are likely to be demolished this week.
Source: Media reports