BUSINESS
Will non-extension of moratorium on new insolvency proceedings unleash an avalanche of distressed real estate projects?
A liquidity-starved realty sector needs more stress funds like SWAMIH. Institutions need to be encouraged to establish such reserves and extend credit facilities to a developer for last mile funding to complete stalled projects, even though the record of NCLT projects handed over to third party developers, is as yet, unproven
BUSINESS
RERA in West Bengal: BJP promises to allow 'seamless real estate development'
West Bengal is the only state in the country that has not accepted RERA, which came into effect on May 1, 2017, exactly a year after it had been passed by the Parliament. It has implemented its own act titled West Bengal Housing & Industrial Regulation Act 2017 (WB-HIRA).
BUSINESS
COVID-19 impact on luxury investments: Hermès bags retain pole position
As for artworks, although the number of individual artist records halved last year compared with 2019, most of the winners were young artists, increasingly referred to as Red Chip, according to The Wealth Report – Knight Frank.
BUSINESS
Bollywood actor Manoj Bajpai buys Rs 4 crore apartment in Andheri, Mumbai
The pandemic has not dented the appetite of billionaires for high-end deals in Mumbai, where celebrities have been buying real estate in upscale areas. The reduction in stamp duty has helped the market bounce back.
BUSINESS
Smartworks to invest Rs 250 crore to expand footprint as managed office space provider
Smartworks' total footprint across the country is likely to touch 7 million sq ft by the end of the year; Expansion plans afoot in cities such as Bengaluru, Hyderabad and Delhi-NCR.
BUSINESS
MMR, Bengaluru and Pune top three cities for property investment: Report
Data shared by Anarock indicates that these three cities remained the most active markets in 2020 – together accounting for a 67% share of the total housing sales (of approximately 1.38 lakh units) recorded in the top 7 cities, and 60% of all new launches (approximately 1.28 lakh units).
BUSINESS
COVID-19 impact: Noida’s stamp duty department likely to incur nearly Rs 300 crore loss this fiscal
Property registrations have increased by 10-20% recently with several international firms such as Ikea investing in the region, sources said
BUSINESS
Planning to buy high-value property auctioned by bank? Here is what you need to know
Do not go rushing to buy a property just because it seems like you’re getting a good deal. It’s worth doing some due diligence to avoid the many pitfalls that may lie in the way. Read on to learn more.
BUSINESS
Bollywood singer Alka Yagnik buys property in Mumbai worth Rs 5 crore
The singer has bought the house along with her daughter Saysha Kapoor, paying a stamp duty of Rs 10 lakh.
BUSINESS
Trump's India partner Tribeca to launch more projects in Mumbai, Noida, Bengaluru and Hyderabad in 2021-22
The company plans to launch luxury villas under the global banner in Q1 2022 between Mumbai and Pune, and outside of NCR to cash in on the demand for second homes during the pandemic.
BUSINESS
EXCLUSIVE | Tribeca to double its pan-India portfolio to 9 mn sq ft in 2021; to raise Rs 900 crore for acquisition of brownfield and greenfield projects
The company has so far raised and restructured about Rs 280 crores in financing for stressed projects in India and plans to raise another Rs 600 crore for new projects.
BUSINESS
Draw for DDA Housing Scheme 2021 concludes; Check if your name is in the allotment list
A waiting list of 338 applicants has also been drawn up. The waitlisted applicants would be allotted flats in case of cancellation/surrender of flats by the main allottee(s).
BUSINESS
Draw for DDA Housing Scheme 2021 to take place today
For the first time, the entire process of the DDA Housing Scheme 2021 from application submission to cancellation and refund of money will be done online.
BUSINESS
Puravankara re-enters Mumbai with its first ultra-luxury project, to invest Rs 450 crore
The project in the Mumbai Metropolitan Region (MMR) in Chembur is called Purva Clermont and is part of Puravankara's ultra-luxury category under the WorldHome Collection. It is located on a freehold 2.25 acre land parcel.
BUSINESS
Karnataka govt slashes stamp duty charges to 3%; Maharashtra announces 1% stamp duty cut for women homebuyers
Real estate experts welcomed the move, saying it would encourage women buyers in Maharashtra to come forward and purchase property and provide an impetus to affordable housing in Karnataka.
BUSINESS
Women's Day: Maharashtra government announces 1% stamp duty cut for women homebuyers
Real estate developers said the move will provide a further boost to housing sales in the state
BUSINESS
Karnataka slashes stamp duty charges to 3% for home values between Rs 35-45 lakh
Karnataka Chief Minister B S Yediyurappa , who holds the finance portfolio, presented the state Budget for the fiscal year 2021-22 in the assembly on March 8.
BUSINESS
Homebuyers suffer in West Bengal as SWAMIH Fund not applicable
Appeal to BJP to declare in their party manifesto for the upcoming West Bengal polls that they would repeal WBHIRA in case they were to form the government
BUSINESS
Women's Day 2021 | Take risks, be persistent and never give up on your aspirations, say women realtors
Moneycontrol met up with a few women leaders across segments – residential real estate, sales and valuation and retail to understand if they did have to overcome challenges to make it to the position that they are in today.
BUSINESS
Draw for DDA Housing Scheme 2021 to be conducted on March 10
The general public can view the live telecast of the draw on March 11 from 11.00 AM onwards.
BUSINESS
SC asks HUDCO to confirm if it is willing to finance unfinished Amrapali projects
The counsel of HUDCO informed the Supreme Court that he had no directions from HUDCO yet to which the apex court directed him to file an affidavit.
BUSINESS
Mumbai’s luxury market continues its upward swing in the pandemic on the back of stamp duty cuts
Over 10,000 housing units were registered in February this year, almost the same number as January 2021.
BUSINESS
Mumbai-based real estate company CCI Projects to deliver around 700 housing units in April completed with SWAMIH funding
The project was sanctioned Rs 180 crores by the fund as the last mile funding for completion. CCI Projects hopes to realise significantly more than the amount from the sale of unsold units
BUSINESS
Supreme Court expresses surprise over the arrest of IRP in Jaypee-Infratech matter; orders his immediate release
Greater Noida police had arrested Jain in Mumbai on March 1. The arrest was made following an FIR lodged against him for alleged non-implementation of safety recommendations along the Yamuna Expressway.
