BUSINESS
Can’t write off the office space; office absorption to touch 25 mn sq ft mark this year: Colliers CEO Ramesh Nair
The newly appointed India CEO of Colliers expects two to three more REITs to be launched in the next 12 months. Retail and industrial REITs may also become a reality in the country, he says.
BUSINESS
Rana Kapoor’s wife gifts property to nine-month old grandson
Bindu Rana Kapoor, wife of Yes Bank founder Rana Kapoor has gifted a property owned by her in New Delhi’s Jor Bagh to her grandson. The property is valued at around Rs 40 crore, according to brokers.
BUSINESS
60,000 homes cleared under Affordable Rental Housing and Urban Complexes scheme: Housing secretary
Assam is the first Indian state to adopt the Model Tenancy Act, Mishra has said.
BUSINESS
Kunal Shah transfers Worli property to own company for around Rs 52 crore
CRED founder Kunal Shah has transferred his flat to Grey House Construction, another company he owns. Entrepreneurs do this usually for tax efficiency.
BUSINESS
Unitech case: Homebuyers who opted for refund be given one last chance to reconsider decision, says SC
The court has directed the new management of Unitech Ltd to prioritise the category of homebuyers seeking refunds based on their age, health, distress and the status of the project in which they have booked the units.
BUSINESS
IIFL drags NCR builder Mohit Singh’s firm Shipra Estates to insolvency court for defaulting on Rs 315-crore loan
IIFL AMC had given credit by subscribing to the non-convertible debentures of Shipra Estates in 2015.
BUSINESS
NBCC floats tender for sale of unused FAR of Amrapali project in Noida
The auction is expected to take place on September 3, the document said
BUSINESS
Wadhwa family buys apartment in own project for Rs 80 crore in Mumbai’s Khar
The apartment is spread across three floors and covers an area of 5,254 sq ft.
BUSINESS
Saif Ali Khan rents apartment for Rs 3.5 lakh in Mumbai’s Bandra
The monthly rent for the first year is Rs 3.5 lakh, Rs 3.67 lakh for the second year and Rs 3.87 to August 19, 2024, the registration documents showed.
BUSINESS
Amrapali case: SC tells 9,538 buyers to register and pay up in 15 days or face allotment cancellation
The apex court says that Rs 10 crore have been received as funding from SWAMIH Fund and that UCO Bank, Bank of Baroda, Bank of India have agreed to form consortium to provide financial assistance to stuck Amrapali projects
BUSINESS
Explained | The Lavasa Township case, issues plaguing the project, and more
Two new bidders have offered Rs 550 crore and Rs 750 crore, respectively, for the Lavasa project, which has outstanding loans amounting to Rs 6,000 crore. The two bids are also said to have been placed with the condition that the project will receive environmental clearance. The project's 1,500 homebuyers have paid at least 60 percent of the property price but may get only a fraction of that amount back should the case be resolved.
BUSINESS
Abhishek Bachchan sells luxury apartment in Mumbai for Rs 45.75 crore
The sea-view housing unit, spread across 7,527 sq ft, is located on the 37th floor of the Oberoi 360 West project in Worli.
BUSINESS
Profit-oriented nature of affordable rental housing scheme may benefit formal workers instead of migrants: Survey
Factors such as peripheral locations, lack of social infrastructure and limited supply may result in the urban poor and migrant workers getting excluded from a scheme that’s meant for them
BUSINESS
SBICap Ventures starts disbursement of funds for six projects of stuck Amrapali Group
SBICap had on August 4 signed an MoU with the court receiver appointed by the Supreme Court to monitor stuck Amrapali projects for funding Rs 650 crore for six projects in Noida and Greater Noida.
BUSINESS
Hines, Conscient Infra to invest close to Rs 700 crore in second phase of residential project in Gurgaon
The total investment for the 9 acre project located in Sector 59 is Rs 1,500 crore out of which Rs 800 crore have been spent on the first phase.
BUSINESS
Exclusive | After SWAMIH Fund, 10 banks show interest in funding stalled Amrapali projects
These banks include HDFC, Axis and Punjab National Bank, NBCC sources have said
BUSINESS
FM Sitharaman: Govt's SWAMIH Fund to invest Rs 650 crore in six stuck Amrapali projects, complete 7,000 homes
SBICAP Ventures, the manager for the government's Rs 25,000-crore stressed-asset fund, had on August 4 signed a MoU with the court receiver appointed by the Supreme Court to monitor stuck Amrapali projects for funding Rs 650 crore for six projects in Noida and Greater Noida.
BUSINESS
Abbott Healthcare leases 5,000 sq ft apartment for Rs 9.26 lakh per month in Mumbai's BKC
Pharma major’s agreement latest in a flurry of rental deals that have happened in the Bandra Kurla Complex in Mumbai, signalling uptick in commercial real estate space.
BUSINESS
Lower threshold to file a case before NCLT from 100 buyers to 10, homebuyers tell government
Parliamentary panel says details of every customer in a real estate project should be made available to a buyer who chooses to commence NCLT proceedings against a builder.
BUSINESS
MahaRERA extends real estate project timelines by six months on account of second wave of COVID-19
The MahaRERA notification said that the extension offered is not going to have an effect on the rights of the homebuyers
BUSINESS
DMart acquires commercial building for Rs 71.5 crore in Mumbai’s Goregaon West
The property was registered on July 29. The retailer paid the stamp duty for the property on March 31, 2021, taking advantage of the Maharashtra government’s stamp duty waiver.
BUSINESS
RBI Monetary Policy: Low interest rate regime to enable more homebuyers to invest in real estate, say experts
Prevailing lower home loan rates supported by the RBI's policy rate stance, stable prices and attractive payment plans are aiding the translation of pent-up demand into sales. If the downward trajectory in COVID-19 cases is sustained, the sector is expected to make a healthy recovery in H2 2021, they said.
BUSINESS
“You are reeking with corruption right from your eyes and nose”. Why did SC so tell Noida Authority?
At the heart of the matter is the Supertech Twin Towers in Noida. The Allahabad HC had ordered their demolition in 2004. However, on August 4, 2021, an SC bench SC stayed the verdict, and pulled up the Noida Authority. Here is all that you need to know about the case.
BUSINESS
Delhi’s 59-km Pink Line Metro now fully operational; becomes longest operational corridor
Passenger services on the line expected to begin from 3 pm onwards on August 6
