BUSINESS
Akshay Kumar buys apartment in Mumbai for Rs 7.8 crore
The 1,878 sq ft apartment located on the 19th floor of a building called Joy Legend in Khar West, Mumbai was bought from Joy Builders.
BUSINESS
SC asks Supertech to refund with interest all homebuyers invested in Noida Twin Towers project by Feb 28
On January 21, the Supreme Court accepted the computation of the refund amount arrived at by the amicus curiae and said that representatives of the builder, homebuyers and the amicus curiae should together thrash out the payment modalities.
BUSINESS
What ails the NCR real estate market - its Notorious Construction Record?
Absence of regulatory oversight, a puzzling medley of land rules, diversion of money paid by homebuyers to unscrupulous builders, supply that outpaced demand, a credit crunch and collapsing returns have contributed to NCR becoming the location of more abandoned housing projects than any other part of India.
BUSINESS
Infosys co-founder’s son sells property in Bengaluru’s posh Koramangala area for Rs 11.6 crore
According to the sale deed, the 9,480 sq ft property located in the third block of the locality has been sold to Urja Partners.
BUSINESS
Co-working firm Awfis plans to double office centres to 200 this year
Several co-working centres may come up in alternative locations such as malls and hotels, as a repurposing of real-estate assets is expected to be a major trend, Awfis founder and CEO Amit Ramani has said
BUSINESS
The Moneycontrol Real Estate Show | Planning to buy property? Consider investing in 2BHK apartments or plots as they appreciate faster
In this episode of The Moneycontrol Real Estate Show, Moneycontrol's Vandana Ramnani talks to Amit Goenka, MD and CEO of Nisus Finance, to understand the real estate investment opportunities for both homebuyers and investors in 2022 into regular assets such as housing and indirect assets such as REITS and stressed asset funds, Listen for more
BUSINESS
Gurugram luxury housing market will be first is line to be impacted by hike in city's circle rates
The hike may dampen end-user and investor sentiments, which had begun to revive in 2021 despite the pandemic
BUSINESS
Homebuyers entitled to compensation for delays until actual possession of an apartment: Consumer court
Possession offered by a builder for an incomplete unit will have no bearing in arriving at the compensation, the National Consumer Disputes Redressal Commission ruled in a recent verdict
BUSINESS
National level model agreement required to deter builders from fleecing homebuyers: SC
Instead of leaving it to all the individual states, SC wants the Centre to formulate a uniform builder-buyer agreement, which shall be applicable in all the states
BUSINESS
Nesco promoter buys a bungalow in Mumbai for Rs 93 crore
Situated in Malabar Hill, Laburnam House is a three-storeyed building spread across 9,375 sq ft. The dealt shows growing demand for independent bungalows in Mumbai following the Covid outbreak, say experts
BUSINESS
SC directs Supertech to sign contract with Edifice Engineering for demolishing Noida twin towers within a week
The two towers, Apex and Ceyane of Emerald Court Project of Supertech, together have 915 apartments and 21 shops. Of these, 633 flats were booked initially.
BUSINESS
Ready-to-move home or under-construction housing project: Which is better?
Prices of ready properties are almost on a par with under-construction homes in many areas. Since developers have curtailed new supply, this is unlikely to happen again. So, which option should you choose? Read on to find out what the experts say
BUSINESS
Supreme Court directs Supertech to return money to homebuyers of Noida Twin Towers by Jan 17 or face jail
The Supreme Court also asked Noida Authority to finalise the agency that would be tasked with demolishing the twin towers in the Noida Emerald Court housing project and directed it to file its response on January 17.
BUSINESS
The Moneycontrol Real Estate Show | Planning to buy property? Have a deal worked out in your mind from start to finish
In this episode of The Moneycontrol Real Estate Show, Moneycontrol's Vandana Ramnani talks to Ramesh Nair, CEO, India and Managing Director, Market Development, Asia, Colliers to understand the real estate investment opportunities for homebuyers and investors in 2022. Listen for more
BUSINESS
Societe Generale renews lease for 3.23 lakh sq ft office space for five years in Bengaluru
The momentum for commercial office leasing and renewals is expected to continue once the third COVID wave subsides. Besides, BFSI companies have to be cognizant of data security and so remote working does not seem to be an effective long-term solution, say experts.
BUSINESS
Builder's failure to procure occupancy certificate a deficiency in service under Consumer Protection Act: Supreme Court
The apex court was hearing a case filed by members of a Mumbai housing society who had booked units in 1993 and were given possession in 1997 but the builder had not taken steps to obtain an occupation certificate from the municipal authorities.
BUSINESS
COVID restrictions impair construction, walk-ins at project sites on hold; new launches may get deferred by a month
Some developers say innate demand for housing is strong enough to overcome the impact of the restrictions, thanks to historically low home loan rates, stamp duty cuts, and stable property prices.
BUSINESS
Construction may grow at 10.7% as economy is on course to post 9.2% rise in FY22
This growth is expected owing to the government’s increased focus on infrastructure projects and smart recovery of demand expected for residential as well as commercial segments.
BUSINESS
Will property tax interventions by State governments push real estate sales in 2022?
The momentum in housing sales is expected to continue in 2022 with such stimulus measures unless the Covid pandemic hits sentiment in the coming weeks and months.
BUSINESS
Only 32 real estate projects registered in Delhi RERA; exemption for developments of up to 500 sq m to register a grey area
A whitepaper has recommended that RERA registration must be made mandatory for all residential developments in Category A colonies, irrespective of size, number of units or any other exclusion that the builder might use
BUSINESS
DCB Bank buys office space for Rs 37.11 crore in Mumbai
The 10,049 sq ft office unit on the 18th floor in Peninsula Business Park in Lower Parel was sold by Templecraft Realty LLP and also comes with 15 car parking spots
BUSINESS
Real Estate Year Ender: Will Omicron cast its shadow over the gains of 2021?
Prices in 2021 by and large, remained stagnant and in some markets developers provided moderate price discounts to kick-start sales, thereby facilitating cash flows to tide over the crisis in the short-term
BUSINESS
Commercial realty market likely to touch 32 million sq ft in 2022 if Omicron impact is mild
The hybrid model, work from home, work near home and work from anywhere will prevail in the medium term. The impact on REITs, too, is expected to be marginal
BUSINESS
Essar Steel Metal Trading Limited buys duplex in Samudra Mahal in Mumbai for Rs 42 crore
Samudra Mahal is a nearly five-decade-old luxurious, sea-facing residential complex in Mumbai's posh Worli area
