BUSINESS
Supreme Court upholds NCDRC order directing NCR-based builder to refund Rs 1.9 crore to homebuyer
The court has directed the developer BPTP to ensure full payment on or before July 15, 2021, in compliance with the NCDRC order, with interest at the rate of 9% per annum
BUSINESS
Realty firms give workers jabs, food, shelter to prevent reverse migration
Developers are optimistic that sales will touch 2019 levels, but to achieve this they need to make sure that restrictions imposed because of the second wave of the pandemic do not lead to an exodus of migrant workers.
BUSINESS
Deepak Parekh’s wife buys luxury property in Mumbai for Rs 50 crore
Smita D Parekh, the wife of the HDFC chairman, bought the property located in Worli and housed in Artesia, a project launched by K Raheja Corp, and offering views of the Arabian Sea and the Bandra-Worli Sea Link.
BUSINESS
Owner of publishing group buys property in Delhi’s Sundar Nagar for Rs 60 crore
Stamp duty of around Rs 3 crore has been paid for the deal. The house has a ground, first floor and a small room on the rooftop, and the total area is around 7,000 sq. ft. The rent in the area for a similar property is around Rs 7 lakh per month.
BUSINESS
India’s first Rs 150 crore Ghaziabad Green Bond lists on the BSE bond platform
Officials said that the issue has seen interest from a variety of investors, including international ones.
BUSINESS
Jaypee Infratech case | NBCC and Suraksha Realty submit revised resolution plans
In a judgment delivered on March 24, the Supreme Court had said the IRP can invite modified or fresh resolution plans only from Suraksha Realty and state-run NBCC.
BUSINESS
Second wave of COVID-19 pandemic ‘worrisome’ if there is a complete lockdown, says CREDAI's new president
Sales will bounce back to 2019-levels provided the second wave of the pandemic remains under control, CREDAI said
BUSINESS
Explained | What the Radhakishan Damani deal means for Mumbai’s real estate market
Such mega-deals of Rs 1,000 crore are usually one-off, aspirational transactions, which do not reflect market trends, particularly when the city is battling the second wave of the pandemic and stamp duty concessions have been withdrawn, but experts say there may be deals of more than Rs 100 crore from time to time.
BUSINESS
RBI maintains status quo on repo rates; low mortgage rates to provide room for continued residential real estate growth
The extension of the TLTRO scheme by six months is expected to ensure adequate liquidity in the form of housing finance to real estate developers and provide stability in the Covid-19 era
BUSINESS
DDA’s Green Development Area Policy to boost green development, curb pollution in Delhi
Expected to enable investors to monetise land investment
BUSINESS
Sunny Leone buys Rs 16 crore apartment in Mumbai to take advantage of stamp-duty waiver
The Bollywood actor and former porn star registered a 12th floor apartment in Andheri West, which she had purchased for Rs 16 crore. The carpet area of the 5BHK apartment is 3,967 sq. ft.
BUSINESS
NBCC seeks one-month extension from SC to submit revised resolution plan for Jaypee Infra
In its application submitted before the Supreme Court, it says that there has been ‘significant commercial impact’ on the operations of the corporate debtor on account of the COVID-19 pandemic and that a ‘cash flow’ imbalance may arise due to non-availability of Rs 750 crore.
TRENDS
DMart's Radhakishan Damani buys Malabar Hill house in one of the costliest real estate deals in Mumbai
At Rs 1.6 lakh per sq ft for the 5,752 sq m house, the Damani brothers paid a total of Rs 1,001 crore.
BUSINESS
Properties worth Rs 1.2 lakh crore registered in Mumbai since stamp duty cut in August 2020
Rs 875 crore collected as stamp duty in Mumbai in March 2021 – the highest in the city in the last seven months. Regular stamp duty rate of 5 percent will be applicable from April 1, 2021.
BUSINESS
Maharashtra government decides not to extend stamp duty waiver on property registrations
Status quo on Ready Reckoner Rates; 1% stamp duty for women homebuyers to be applicable from April 1, 2021
BUSINESS
Last day of stamp duty cut: 17,091 property registrations in Mumbai so far, numbers may touch 95% of December figure
A stamp duty cut by the Maharashtra government, low interest rates, discounts offered by developers and the Covid-19 induced price correction saw the Mumbai registrar’s coffers swell as homebuyers made the most of the opportunity and came forward to buy property.
BUSINESS
Mumbai’s rush for premium flats continues with Rs 64.48 crore Tardeo deal
Mumbai’s super-rich are buying properties in droves days before the cut in stamp duty lapses. The number of deals registered this month are estimated to be more than four times the number in March 2020.
TRENDS
Why Sunder Nagar continues to be the ultimate address of the uber-rich in Delhi
Central location, exclusivity fuelled by very limited availability, bragging rights and more reasons why Delhi's ultra rich are spending tens of crores on smaller houses with next to no redevelopment potential
BUSINESS
Mumbai’s ultra-rich rush to register luxury houses as deadline for Maharashtra’s stamp duty cut nears
In India’s commercial capital, most opulent projects in the price range of Rs 30 crore to Rs 50 crore are located in redeveloped, standalone buildings in the city’s tony South neighbourhoods such as Napean Sea Road, Malabar Hill, Walkeshwar and Breach Candy.
BUSINESS
Noida’s Wave Mega City Centre files application before NCLT
Earlier this month, Noida Authority had seized 1.08 lakh sq m land belonging to the Wave Mega City Centre located in the heart of Noida in Sector 32.
BUSINESS
Amrapali’s 46 units up for sale by NBCC receive around 100 applications
Results of the draw expected to be announced by April 15
BUSINESS
Maharashtra real estate developers urge government to extend stamp duty benefit
They has said that the government's move to to cut stamp duty on housing units from 5 percent to 2 percent until December 31, 2020 and 3 percent until March 31, 2021 has led to record breaking property registrations and overall improvement in homebuyers' sentiment
BUSINESS
Jaypee Infratech case: Homebuyers fret but legal experts applaud Supreme Court verdict
Homebuyers living in rented houses and paying EMIs for a decade are disappointed that the process seems to go on and on, but legal experts say that Supreme Court has done well to settle complex issues involving conflicting interests, which will help consumers.
BUSINESS
GROHE Hurun Real Estate Rich List 2020: Mangal Prabhat Lodha named India’s richest real estate tycoon
The top nine listed companies in the GROHE Hurun India Real Estate Rich List 2020 have almost recovered the losses they have registered since the lockdown. The total wealth of top 100 entrants in the list is up 26% from 2019 to Rs. 3,48,660 crore.
