INDIA
Founder of premium shared workspaces, Dextrus buys duplex for Rs 66 crore in Bandra
In 2016, actor Ranbir Kapoor had bought an apartment in this building on the seventh floor for Rs 35 crore.
TRENDS
India GDP data | Real estate sector contracts due to COVID-19 impact in FY21
The construction sector saw a 14.5 percent growth in Q4 on a year-on-year basis. This reflects a significant proportion of the government's investment in infrastructure projects. The financial, real estate and professional services sector saw a growth of 5.4 percent in Q4 on a year-on-year basis.
BUSINESS
Housing Pricing Index launched to help homebuyers take informed purchase decisions
The Index would also assist sellers in knowing the most opportune moment to sell their assets.
TRENDS
Central Vista Project | False narrative being propagated; none of the historical buildings will be touched: Hardeep Puri
The decision on the New Parliament Building and the Central Vista Avenue was taken before COVID-19, the minister said.
BUSINESS
Jaypee infratech case: Financial creditors vote for allowing more time to NBCC, Suraksha Group to submit revised bids
Jaypee Infratech’s creditors, on May 27, started voting on a proposal to give a seven-day extension to NBCC and Suraksha Group to submit revised plans to take over the embattled firm and complete construction of around 20,000 homes that have been delayed by almost a decade. The process ended on May 28.
TRENDS
In one of India’s biggest high-rise deals, Raheja promoters retain apartments worth Rs 426 crore in Worli
The project named Artesia, an iconic stand-alone 45-storey tower, has an expansive view of the Arabian Sea and the Bandra Worli Sea link.
BUSINESS
Govt will look into real estate developers’ demand for extension of project completion timelines: Housing Secretary
Regarding increase in prices of steel and cement, the housing secretary said he had taken up the matter with the concerned ministry and would do so again
BUSINESS
Amitabh Bachchan buys duplex worth Rs 31 crore in Mumbai
Actor Amitabh Bachchan is latest in a long line of celebrities and businessmen who have taken advantage of Maharashtra government’s stamp duty waiver.
BUSINESS
Ajmera Realty to invest around Rs 1,000 crore in four projects despite COVID-19
The projects in Mumbai, Bengaluru and Pune would be spread across 15 lakh sq ft. Ajmera Realty also plans to complete four projects in London this fiscal.
BUSINESS
Jaypee infratech case: Voting underway on creditors' proposal to give NBCC, Suraksha 7-day breather to submit fresh bids
The voting to get lenders' and homebuyers' consent will continue until May 28. If revised bids by both the applicants are not allowed by the Committee, then Suraksha’s existing plan will be put to vote.
BUSINESS
NBCC says its resolution plan for acquiring Jaypee Infratech 'legally compliant'
NBCC, in its letter to the IRP, said that if it is permitted to submit a revised bid, it would do on the basis of the IRP's observations and his satisfaction for the benefit of all the stakeholders, primarily the homebuyers who should not suffer due to differing legal interpretations.
BUSINESS
COVID-19 impact: Demand for 3BHK housing units on the rise
Buyers are largely working couples with children, most currently pursuing the WFH and e-learning options. In many cases, their budgets have not increased - rather, they are willing to settle for peripheral locations
BUSINESS
Mumbai witnesses sharp decline of 60% in number of properties registered in May
Only 3631 housing units have been registered in Mumbai in the month of May and just about Rs 177.52 crore collected as stamp duty on account of the second wave of COVID-19
BUSINESS
Jaypee Infratech case: Voting on Suraksha’s plan deferred; IRP declares addendum to NBCC’s bid as non-compliant
Voting on resolution applicants’ plea to submit revised plans expected to take place on May 28; date to file revised plans is June 4, while the next CoC meeting is scheduled for June 7
BUSINESS
All about homes that let you breathe easy in COVID-19 times
A well-ventilated house has enough windows and doors; sliding doors or double doors can replace a single door to open up completely and let air in. Skylights can be incorporated as a means of mechanical ventilation.
BUSINESS
Jaypee Infratech case: NBCC may move Supreme Court against IRP's decision to reject its bid
It is also expected to seek a clarification from the Interim Resolution Professional (IRP) Anuj Jain and the Committee of Creditors (CoC) against the decision, sources said.
BUSINESS
COVID-19 2nd wave: Will real estate prices correct further?
Real estate experts are of the view that unlike the first wave of the pandemic, the second wave may have a major impact on the mid and affordable housing segments, both in terms of prices as well as demand
BUSINESS
Jaypee Infratech Case | Suraksha Plan Gets Compliance Stamp By IRP; NBCC bid rejected
According to sources, the Committee of Creditors (CoC) is expected to put the Suraksha plan to vote next week.
BUSINESS
Jaypee Infratech case: Here’s a look at the Suraksha Group and NBCC bids
The CoC meeting will be held on May 20 afternoon to discuss the final resolution plans.
BUSINESS
Jaypee Infratech case: NBCC, Suraksha submit revised bids
The meeting of Committee of Creditors is on May 20.
BUSINESS
Owner of a data centre company buys Rs 48 crore property in Hyderabad’s posh Jubilee Hills
Hyderabad is the bright spot in India’s languishing property market, with its upscale Jubilee Hills area seeing two recent transactions above Rs 40 crore and 17 deals above Rs 10 crore in 2020 as the rich and the famous opt for homes in the posh, low-density area in the pandemic era.
BUSINESS
Jaypee Infra insolvency case: NBCC, Suraksha expected to submit revised bids by May 18
Next meeting of committee of creditors likely to be held on May 19, sources say.
TRENDS
Xanadu 2.0: 10 things to know about Bill and Melinda Gates’ mansion
Bill and Melinda Gates live in Xanadu 2.0, worth around $131 million. They couple has recently filed for divorce.
BUSINESS
SWAMIH Fund to deliver over 12,600 housing units spread across 26 projects within the next one year
Of the 26 housing projects, nine are located in Mumbai, seven in Delhi-NCR and the rest are spread across other Tier 1 and Tier 2 cities
