BUSINESS
42 real estate developers on IIFL Wealth Hurun India Rich List 2021
DLF’s Rajiv Singh and family topped the list among real estate developers with a wealth of Rs 54,100 crore followed by Mangal Prabhat Lodha and family of Macrotech Developers with a wealth of Rs 42,500 crore.
BUSINESS
Delhi government extends circle rates rebate until December 31
The move is aimed at boosting the real estate market, which has seen a slump as a result of Covid-19, and increasing government revenue.
BUSINESS
MoEFCC approves Coastal Zone Management Plan (CZMP) for Mumbai and Mumbai Suburbs
Mumbai-based realtors welcome the decision
BUSINESS
7,500 property deals registered in Mumbai in September 2021; increase almost 11% compared to August 2021
As far as stamp duty is concerned, around Rs 515 crore has been the collection until September 29, 2021.
BUSINESS
Circle rate waiver of 20% not enough to boost property sales in Delhi; stamp duty cut need of the hour, say experts
After Maharashtra government decided to offer a seven-month stamp duty waiver, 19,600 properties were registered in MMR in December 2020; 10,442 in January 2021 when stamp duty was at the rate of 3% and 17,091 until March 31, 2021. Delhi has not witnessed such a trend
BUSINESS
Suven Pharma promoter sells Jubilee Hills property in Hyderabad for Rs 34.75 crore
The property, located in posh Jubilee Hills area, attracted a stamp duty of Rs 2.64 crore
BUSINESS
SFIO informs SC it has prepared report on irregularities in Unitech, seeks permission to file it in sealed cover
The Supreme Court bench permitted SFIO to file the report in a sealed cover and has listed the matter for further hearing on October 6.
BUSINESS
Noida brokers say sale of Supertech projects down by half after Supreme Court ruling
Builder says order will not have any adverse impact on the firm, its group companies or ongoing projects. The UPRERA had passed 282 orders against Supertech for refunds and issued 249 recovery certificates against the promoter. By June 23, only 101 cases were settled.
BUSINESS
Amazon India signs lease agreement with GMR Logistics Park for 10 lakh sq ft warehousing space in Hyderabad
The lease agreement provides for a clause for rental escalation of 15 percent every three years
BUSINESS
Women professionals should come forward to work in the Indian real estate sector: Housing Secretary
Naredco launches women’s arm that will focus on gender representation in the real estate sector
BUSINESS
Wine at top of the Knight Frank Luxury Investment Index with prices up 13%
“Wine is doing really well, not going crazy but growing nicely. There are no signs of over exuberance,” explains Wine Owners’ Nick Martin who compiles the data for The Knight Frank Fine Wine Icons Index.
BUSINESS
Dailyhunt co-founder buys Bengaluru villa for Rs 16.5 crore
Umang Bedi moved into a development called Epsilon that houses other tech billionaires such as Bigbasket’s Abhinay Choudhari.
BUSINESS
This Shradh, real estate developers offer discounts; rebrand and launch new projects
Project developers are offering freebies like free furnishing, easier payment terms, lucky draws and cars to home buyers, and have rebranded old projects, which will boost sales, experts say.
BUSINESS
Amrapali case: Authorities say they would suffer losses of over Rs 7,500 crore if SC does not recall interest rate cap order
The hearing remained inconclusive and will now be taken up on October 1
BUSINESS
Apple India Private Limited renews lease for three floors in Mumbai's BKC for five years
The project is located in Mumbai’s Bandra-Kurla Complex (BKC) business district. It is an integrated development with five office towers, a drive-in theatre and an under-development luxury mall
BUSINESS
GST Council: GST on supply of bricks increased from 5% to 12%
Real estate experts divided on its impact on cost of housing
BUSINESS
Virus impact: Super large developers see average business dip by 39%; smaller developers took 19% hit in revenue
Sales in Tier 1 cities grew 22% between 2015 to 2019; during the same period, sales in Tier 2 cities grew 73%, from 59,390 in 2015 to 76,466 units in 2020, a report by Liases Foras said
BUSINESS
65% of 7,933 urban settlements do not have any master plan: Niti Aayog report
It recommends that every city must aspire to become a Healthy city for all by 2030 and suggests a central sector scheme, 500 Healthy Cities Programme, for a period of five years
INDIA
PM Modi opens a pair of defence office complexes in New Delhi
The office buildings on Kasturba Gandhi Marg and Africa Avenue, constructed at a cost of Rs 775 crore, use resource-efficient green technology and adhere to environment-friendly practices.
BUSINESS
Karan Johar renews lease of two commercial properties in the name of Dharma Productions
The leave and licence agreements were registered on August 25, 2021
BUSINESS
NBCC auctions unsold FAR at Amrapali Group’s Princely Estate project in Noida for Rs 43 crore
“The first unused FAR has been successfully auctioned for Rs 43 crore,” sources said, adding the payment would be made in the next six months.
BUSINESS
DDA gives final nod to Additional Development Control norms in land pooling areas
DDA to set up board of enquiry to consider objections, suggestions on MPD 2041
BUSINESS
Deepika Padukone buys bungalow in Alibaug for Rs 22 crore
The property is spread across 2.25 acres and the built-up area is 18,000 sq ft.
BUSINESS
ED tells Supreme Court it has attached properties worth Rs 4.79 crore of former Amrapali director
The court asked the forensic auditor to ascertain how much amount was diverted by the Amrapali Group to Prem Mishra and how much of it was spent in acquiring project assets.
