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Karnataka’s New Cell to Recover Builder Dues

BENGALURU: Homebuyers in Bengaluru and other parts of Karnataka can finally see some hope as the government is taking action against non-compliant builders. A dedicated ‘Recovery Cell’ is nearing establishment to ensure that real estate developers who fail to adhere to Karnataka Real Estate Regulatory Authority (K-Rera) orders regarding buyer compensation are held accountable. This step comes after prolonged frustrations faced by homebuyers who didn’t receive property ownership or compensation, despite clear orders from K-Rera. Rera chairman Rakesh Singh informed TOI that most groundwork has been done, and a final decision regarding whether the cell will operate under Rera or…

KVN Properties, Assetz Group to Build 1M Sq Ft Project in Bengaluru

Representative image created by AI NEW DELHI: KVN Properties LLP has formed a strategic development management agreement (DMA) with Assetz Group to launch a residential project in North Bengaluru. The collaboration will facilitate nearly one million sq ft of development, with an anticipated gross development value (GDV) of ₹1,000 crore. The project is planned as a single-phase initiative projected to span 3-4 years. Through this strategic DMA model, KVN Properties will cover all project-related costs, including land acquisition and construction expenses. Meanwhile, Assetz Group will assume the role of development manager. This agreement brings the company’s total residential development commitments…

Crisil: Residential Real Estate to Grow 10-12% Annually by FY27

NEW DELHI: The residential real estate market in India is projected to maintain steady growth over the next two fiscal years, with a sales value increase of 10-12% annually. This growth is attributed to the rising demand for premium and luxury homes, as noted in a recent report by Crisil Ratings. Sales volumes are estimated to rise by 5-7%, with average prices expected to appreciate moderately by 4-6%. This reflects sustained end-user demand, enhanced affordability due to lower interest rates, and a smoother rollout of projects in key urban regions. This follows a post-pandemic growth period where the sector achieved…