BUSINESS
WFH impact: Homes get bigger, business centres open within housing complexes
Thanks to COVID-19 and the work-from-home culture, many people are seriously considering homeownership. The idea is to own a home and make it as large as possible with multipurpose rooms. Developers meanwhile are going the extra mile to cash in on the trend.
BUSINESS
Two major data centre projects in Greater Noida to help boost real estate markets in the region: Experts
The move is expected help data centre businesses get decentralised from traditional Mumbai and Chennai strongholds.
BUSINESS
A room with a view: Here are some staycation options to work from anywhere
A cottage in the hills, or near a beach, river or village…there are options galore across the length and breadth of India for those looking to beat the pandemic blues, while enjoying nature and working.
BUSINESS
COVID-19 impact: Here’s how much prices of premium properties have fallen in Mumbai and Delhi NCR
Some premium properties in Mumbai have seen a 15-20 percent correction, while the Delhi NCR has seen a 10 percent drop in some pockets. Developers slashed prices during the peak of the pandemic due to the uncertainty caused by the lockdown.
BUSINESS
Minimum 100 homebuyers must to file insolvency application against defaulting real estate developer: SC
The Supreme Court upheld the validity of IBC Act 2020, saying sections 3 and 10 of the Act do not violate the right to equality under Article 14 of the Constitution. However, homebuyers say decision is a big blow as it will now be difficult to initiate IBC proceedings against builders.
BUSINESS
DDA Housing Scheme 2021: Response ‘extremely good’, applications exceed number of flats on offer, says DDA VC
Majority of flats are likely to be completed by March 31, 2021 except the units in Dwarka, Sector 16 B, which are likely to be completed by September 30, 2021
BUSINESS
Former India cricketer Zaheer Khan buys property in Mumbai for Rs 11.5 crore
Besides filmstars, cricketers too bought premium properties in Mumbai to cash in on the stamp duty cut
BUSINESS
EXCLUSIVE | Amrapali’s 37 residential, 6 commercial units completed by NBCC, to go on sale soon
These units, which include villas and penthouses, are in Noida and Greater Noida. The price has not been decided yet but the 37 residential units are likely to be sold for Rs 40 to 45 crore.
BUSINESS
Actor Karisma Kapoor sells Mumbai apartment for Rs 10.11 crore
Bollywood actor Karisma Kapoor and mother Babita Kapoor sell posh apartment at Khar in Mumbai, joining list of celebrities and industrialists who are making the most of a real estate boom in India’s financial capital.
BUSINESS
Give infrastructure status to the real estate sector: NAREDCO
Increase tax deduction on home loan interest from Rs 2 lakh to Rs 5 lakh, NAREDCO said in its wishlist for Union Budget 2021-22.
BUSINESS
Impeached again | Will the Trump Tower brand feel the heat in India?
Real estate experts in the know of the matter said that the impact is unlikely to be felt on projects that are already complete or ready to move in. New projects that are in the pipeline, however, may feel the pinch on account of perception issues
BUSINESS
SC to real estate developers: Cannot compel homebuyers to be bound by one-sided agreements
Supreme Court also holds that incorporation of unreasonable clauses in the agreement constitutes an unfair trade practice under the Consumer Protection Act; clarifies that buyers have the right to choose one remedy in case “two concurrent remedies” are available
BUSINESS
Model Tenancy Act likely to be approved by March: Housing secretary
The ministry floated the draft model tenancy law in July 2019. It proposes to establish an independent authority in every state and Union Territory for registration of tenancy agreements and even a separate court to take up all tenancy-related disputes.
BUSINESS
More states consider reducing stamp duty to boost real estate sales: Housing secretary
The Maharashtra government had in August temporarily reduced stamp duty from 5 percent to 2 percent until December 31, 2020, and to 3 percent from January 1, 2021, until March 31, 2021.
INDIA
Republic Day parade in 2022 to be held at the new central avenue: Hardeep Singh Puri
Housing and Urban Affairs Minister Hardeep Singh Puri said the cost of the Central Vista project will be absorbed by each ministry through their own budgets, and said the overall figure will come out to be much lower than what is being speculated.
BUSINESS
Big deal: Golf Links bungalow bought for Rs 170 crore in Delhi’s priciest real estate buy after lockdown
Real estate experts say several big-ticket deals that exceed Rs 100 crore could be struck in the national capital over the next six months.
BUSINESS
DDA Housing Scheme 2021 update: Authority receives 5,400 applications
Over 1,000 applicants paid up the booking amount of which more than 600 are for high income group and middle income group units.
BUSINESS
Real estate services likely to drive H2FY21 growth recovery: NSO data
Real estate services being one of the important components of services sector is already showing promising signs of revival both in residential and commercial segments, say experts
BUSINESS
DDA Housing Scheme 2021 update: Authority receives 5,000 applications
More than 800 applicants pay up the booking amount of which more than 500 are for high income group and middle income group units.
BUSINESS
Bollywood actor Janhvi Kapoor buys triplex worth Rs 39 crore in Mumbai
Dhadak actor Janhvi Kapoor took home loan of Rs 23 crore and paid a stamp duty of Rs 78 lakh to buy housing unit spread across 3,456 sq ft at Juhu.
BUSINESS
DDA Housing Scheme 2021 update: Authority receives 4,500 applications
Applications will remain active until February 16, 2021; The scheme has been launched online through the newly-developed AWAAS software of DDA
BUSINESS
Maharashtra cabinet clears proposal to cut govt levies on real estate by 50% until Dec 31, 2021
Property prices expected to drop sharply in Mumbai as real estate sector applauds government move.
BUSINESS
Housing sales in Delhi NCR dip by half year-on-year in 2020 compared to 2019: report
Greater Noida accounts for 39% of the total residential sales followed by Gurugram at 29%; Sale of ready-to-move-in inventory and plots gain traction
BUSINESS
Home sales across top eight cities touch 94,997 units; Rs 50 lakh homes make up approximately 57% of the total sales
Of the total sales number in H2 2020, Mumbai and Pune lead market revival, contribute around half of the home sales on the back of Maharashtra state government’s decision to reduce stamp duty
