BUSINESS
The curious case of lapsed real estate project maps and RERA registration
Several Noida and Greater Noida developers are finding it difficult to secure loans to complete projects as they do not have valid maps or an authority registration
BUSINESS
Bigbasket co-founder Abhinay Choudhari buys Bengaluru property worth Rs 12.25 crore
The plot is located in a gated community called Yemlur Home Owners Association on Yemlur Main Road, Bengaluru, which is off the Old Airport Road.
BUSINESS
DDA gives final nod to development of Affordable Rental Housing Complexes (ARHCs) under MPD 2021
The parking norms have been formulated based on the study conducted by DUAC and discussions with NIUA, MCD’s and tractor transportation experts.
BUSINESS
Homebuyer conversion rate in some cities impacted due to weekend lockdown
Ahmedabad, Chennai, Mumbai and Pune, all saw conversion rate fall by half during the lockdown imposed following the second wave of the pandemic
BUSINESS
Only 10% of ongoing projects completed in Karnataka in the last five years: Homebuyers’ body
Failures of Karnataka RERA outweigh benefits derived from it, FPCE says in a letter to the state government
BUSINESS
Jaypee Infratech case: IRP files Suraksha’s resolution plan before NCLT
IRP Anuj Jain tells Moneycontrol that the company is presently sufficiently funded to scale up construction and would be utilising Rs 250 crore available with it to restart work. Interim finance of Rs 300 crore offered by Suraksha Group is interest bearing and comes at a cost.
BUSINESS
West Bengal government offers 2% stamp duty rebate; slashes circle rates by 10%
Real estate developers welcome the move
BUSINESS
How corporates see lucrative real estate opportunities in COVID-19
Corporates with better balance sheets are making use of attractive market conditions to buy luxury apartments for their directors or promoters in the name of the company and save on taxes
BUSINESS
Air India property auction starts July 8, airline seeks to raise Rs 270 crore
The starting prices of units on offer range from Rs 13.3 lakh for apartments in Nashik to about Rs 150 crore for a residential plot in Mumbai’s Pali Hill
BUSINESS
Home sales decline by 16% year-on-year in April-June quarter on account of COVID-19 second wave
While the MMR and the NCR markets have the highest inventory overhang of 64 months each, Hyderabad had the lowest inventory overhang of 27 months.
BUSINESS
Tamil Nadu RERA awards Rs 67 lakh as compensation to 20 homebuyers invested with Sahara project in Coimbatore
The Authority ruled that the buyers who had sought refund of the amount invested by them along with interest and compensation were entitled to an interest of 10.7 percent per annum.
BUSINESS
SBICAP Fund accords final approval to 80 stressed real estate projects consisting of 50,000 homes
Of these 80 stressed real estate projects that SBICAP Fund has accorded final approval to, 33 are from Delhi-NCR and will see the completion of around 28,000 homes.
BUSINESS
Noida administration attaches flats, villas of real estate developers to recover dues worth Rs 344 crore
The properties would be e-auctioned to recover the amount and refund homebuyers.
BUSINESS
Stamp duty collections in Mumbai back to pre-COVID-19 levels; Rs 420 crore collected in June 2021
As many as 7,850 properties were registered in June 2021 compared to 5,640 units registered in June 2019, clearly indicating a growth of 39 percent.
BUSINESS
Cricketer Rohit Sharma sells Lonavla property for Rs 5.25 crore
The property is spread across 6329 sq.ft. The per sq ft value of the property works out to be around Rs 8,300 per sq ft.
BUSINESS
COVID-19 impact: Indian investors pump 6 billion dirhams into Dubai’s real estate market
Tax-friendly laws and availability of immediate residency status through real estate investment starting at Rs 2 crore triggers the trend
BUSINESS
Supreme Court refuses to hand over Amrapali’s Le Residentia project to NBCC
The court refuses to recall two orders passed in 2019; directs existing builder to complete the project.
BUSINESS
After stamp duty cut, Bollywood stars make the most of cheap home loans
Ajay Devgn and Jhanvi Kapoor are among the actors who have opted for home loans. Bollywood stars take a home loan due to due diligence done by banks for the properties being sold and also because interest rates are at their lowest right now, say experts
BUSINESS
Jaypee Infratech case: This is what Suraksha Group brings to the table and more
Suraksha Group inherits close to around 6,000 acres from Jaypee Infratech of which it would be left with 800 acres after paying off institutional financial creditors
BUSINESS
Uttar Pradesh grabs top position in India's Smart Cities Award Contest 2020
These awards were announced on June 25 to mark six years of the three urban missions of the Central government -- Smart Cities Mission, Atal Mission for Urban Rejuvenation and Urban Transformation and Pradhan Mantri Awas Yojana-Urban.
BUSINESS
Jaypee Infratech case: Homebuyers hope to see projects completed; Say voting for resolution plans was like India-Pak cricket match
In close fight, Suraksha Group received 98.66 percent votes compared with NBCC’s 98.54 percent on resolution plans to take over Jaypee Infratech
BUSINESS
Suraksha Group gets approval from lenders and homebuyers to take over Jaypee Infratech
Suraksha Group won the bid by a slight margin; the bid by Suraksha Group received 98.66% votes and the one by NBCC got 98.54% votes
BUSINESS
Will real estate developers launch housing projects after the second wave of COVID-19?
Developers are carefully gauging the situation before starting new projects and if there is a third wave, they will definitely tread with caution, say experts
BUSINESS
Property registration in Delhi’s Vasant Kunj rises 63% amid COVID-19
Proximity to the airport and Gurgaon, along with facilities like schools, hospitals and malls, make Vasant Kunj an attractive residential area
