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Shivam Tomer

Shivam Tomer
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https://www.ipropunited.com/
Talks about : Real Estate News, Investment Tips, Proptech, Loan tips and Property Tips
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Proptech startup Settlin raised $1 million from investors for its growth

By
Shivam Tomer
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The company mentioned in a statement, it has raised about Rs. 7.7 crores in a pre-series A round from Powerhouse Ventures, Dinesh Agrawal (founder and CEO, IndiaMart), angle investor Murugavel Janakiraman (Founder and CEO of Bharat Matrimony) and Rajesh Sawhney (founded-GSF Fund) and others.

NEW DELHI: Proptech firm Settlin raised 1 million USD for expansion and growth. Settlin is planning to expand its presence in Bengaluru and also digitization of its further operations.

Settlin is into brokerage for resale homes, it provides doorstep execution of residential property resale transactions. It manages the entire translation which includes legal verification too, it maintains and physically inspects the property.

Settlin recently launched its app named Settlin on the google play store.

Settlin shared “plans to use the new funds for expanding within Bengaluru, and fortifying their consumer-tech platform.”

The company’s statement mentioned that it aims to finish 24,000 visits in Bengaluru, in the upcoming 12 months which will lead to over 800 property sales worth over Rs. 600 crores.

“The residential resale market is three times that of new sale, and holds the key to truly organise the entire real estate transactions industry, forever. This ever growing sector remains unorganised and complex to crack because of its multiple moving parts.” commented Ashish Srivastava, Co-Founder and CEO, of Settlin.

According to housing.com proptech industry in India attracted over USD 551 million in 2020 and in 2019 USD 549 million.

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ASK Property Investment Advisors (PIA) raises fund worth Rs 610 crore to invest in realty assets

By
Shivam Tomer
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“Domestic investors account for half of the real estate fund raised, while international investors make up the other half. We want to raise Rs 2,000 crore for the fund “Sunil Rohokale, group managing director and chief executive.

 

MUMBAI: ASK Property Investment Advisors (PIA) announced on Monday that it had completed the initial closing of a real estate fund worth Rs 610 crore. According to ASK PIA‘s chief executive and managing director Amit Bhagat, the new fund would invest in established residential markets including as Mumbai, Pune, Noida, Gurgaon, Bengaluru and Chennai.

“Domestic investors account for half of the real estate fund raised, while international investors make up the other half. We want to raise Rs 2,000 crore for the fund “, Sunil Rohokale went on to say.

According to an official statement, ASK PIA’s Real Estate Fund IV is the firm’s sixth real estate fund, and private equity investments in income-generating commercial, industrial, residential, and data centres have expanded dramatically in recent years, owing to foreign capital inflows into India.

Sunil Rohokale, group managing director and chief executive, stated that the residential market is already growing and would continue to develop in 2022. According to him, the group’s strengths are identifying suitable developers, relevant micro markets, and entering at the right price.

End-user demand combined with reducing inventory on one hand, and job creation along with income growth in the service industry, IT, financial services, and allied industries on the other, are the driving forces behind continued demand in the residential sector, according to the company.

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Farmhouses built without nod razed by DTCP- Sohna

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Shivam Tomer
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Spread over 50 acres of land, a farmhouse colony in Sohna was razed by the Town and Country planning development on Thursday.

Farmhouses built without nod razed

The builder of the project, named “Nature Valley” in Kirani and Bhogpur villages of Sohna had already built boundary walls, guard rooms, road network, light poles and other amenities and was planning to sell the farmhouses constructed on one-acre land.

On Thursday, a farmhouse colony built on 50 acres of agricultural land in Sohna was demolished by DTCP.

According to complaint, the developer completed the construction, laid roads and erected electricity poles but cables were not connected yet. He was planning to sell farmhouses and also constructed one farmhouse as a sample to seek the attention of investors.

The builder had no permission from any department to construct any farmhouse. As per norms, developing farmhouses without permission is equivalent to developing illegal colonies, said RS Batth, District Town Planner (enforcement)

It was found during the investigation that developer was hiding the facts regarding the permissions and approvals from investors to make a sale. Also, he was promoting illegal farmhouse colony through social media to attract the investors.

The officials said they knocked down three farmhouses, road network, boundary walls and guard rooms with the help of earth movers in presence of police officers. “The department is getting details about the builders and will recommend for FIR against them. Even if the farmhouses have been sold, the department will get details from revenue department and lodge complaint against the wrongdoers,” the official said in an interview with Economic Times.

On Wednesday in the report of TOI it was stated that illegally constructed farmhouses in Sohna are under DTCP radar and are likely to face action this week.

Following spike in complaints regarding construction of illegal farmhouses violating Haryana Development and Regulation of Urban Area Act and strict directions from DTCP chief, the enforcement team began knocking down all the illegal constructions on Thursday.

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PMAY-Urban: Government approves construction of 16,488 more homes

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Shivam Tomer
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In a meeting held on Monday received nod for houses to be constructed under Beneficiary-Led Construction (BLC) and Affordable Housing in Partnership (AHP) verticals of PMAY-U

Government approves construction

On Monday, for the socio-economic development, the government approved the construction of 16.488 houses in urban areas under the Pradhan Mantri Awas Yojna, taking the total number of houses sanctioned so far to over 1.13 crore.

The decision was taken at a meeting of the Central Sanctioning and Monitoring Committee (CSMC) attended by officials from four states and union territories, said the Union Housing and Urban Affairs (HUA) Ministry in a statement.

The houses approved in the meeting on Monday are proposed to be constructed under Beneficiary-Led Construction (BLC) and Affordable Housing in Partnership (AHP) verticals of PMAY-U.

“The demand for sanction has saturated in all States/UTs and work should be done expeditiously towards completing all the projects within stipulated time,” HUA Secretary Durga Shanker Mishra said while addressing the participants.

In a general statement, the ministry said the construction of PMAY-U houses is in various construction stages.

“With this, the total number of sanctioned houses under PMAY-U is now 113.06 lakh; of which 85.65 lakh have been grounded for construction and more than 51 lakhs have been completed and delivered to the beneficiaries,” the statement further stated.

The secretary also insisted the states and union territories to engage in ‘PMAY(U) Awards- 100 Days Challenge’ enthusiastically, according to the statement.

“Our major focus should be how can states/UTs make their cities saturated. Completion of projects should be aimed at,” Durga Shanker Mishra said.

Durga Shanker Mishra also said that states and union territories should register stakeholders as “Technograhis” in large numbers so that they learn about globally innovative technologies and conform their use in Indian context.

First Published on: Aug 17, 2021, 8:59 IST

Slum rehabilitation in merged villages: PMCC-SRA surveys

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Shivam Tomer
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The Slum Rehabilitation Authority (SRA) and the Pune Municipal Corporation (PMC) have started a survey of slum pockets and probable rehabilitation locations. The inspections will be carried out in a phased manner in all areas merged into the PMC limits, officials said.

Slum rehabilitation in merged villages

A team of officials from the Slum Rehabilitation Authority (SRA) and the Pune Municipal Corporation (PMC) recently surveyed the slum areas and 23 villages that have been merged into the city civic limits last month which are in dire need of rehabilitation. Ashok Pawar, the local MLA, said that slum rehabilitation will be a part of Wagholi’s overall development. It is very important in the socio-economic development of any city. The officials also that the inspections will be carried out in a phased manner in all areas merged into the PMC limits.

“We are in touch with the SRA officials and the civic administration.” Pawar said in an interview to Economic Times. Meanwhile, Manjari is another village merged into the city limits and their residents are also looking forward to rehabilitation program.

In a general interview, the local resident, Sunil Ghule said, “The PMC and the SRA should conduct a detailed survey and come up with a proper rehabilitation plan to prevent illegal encroachment by slumdwellers.”

To execute all of the rehabilitation projects, the surveys will help prepare a list of slum pockets and probable sites, officials said.

The officials should initiate a process to identify slums from merged areas as “declared slums”, said Hadapsar resident, Sanjay Tupe.

The head of SRA Pune, Rajendra Nimbalkar in an interview with Economic Times, said, “We held discussions with all stakeholders, including local gram panchayat representatives, slumdwellers and others.”

He further said that the surveys will also be conducted in other merged areas as well. “We also want local representatives to come up with proposals.”

First Published by: Sarang Dastane

First Published on: Aug 15, 2021, 12:37 IST

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