BUSINESS
Stamp duty cut, discounts by developers drive property sales worth Rs 34,000 crore in Mumbai in December
The surge in December sales, which is more than double the volume sold in November 2020 or December 2019, is unlikely to be sustained as stamp duty rose from 2% to 3% from January 1. However, another spurt is likely in March when stamp duty will be hiked to the original level of 5 percent
BUSINESS
Office market in top eight cities record transactions of 22.2 mn sq ft in the July-December 2020 period: Knight Frank report
Bengaluru witnessed a surge of 8% year-on-year (YoY) to 7.5 mn sq ft in H2 2020 in leasing activities. The growth can be attributed to large occupiers who remained committed to their long-term business expansion plans.
BUSINESS
DDA receives over 3,000 applications for 2021 housing scheme
Over 500 applicants pay up the booking amount
BUSINESS
We welcome Supreme Court judgement giving the go-ahead for Central Vista Project: Hardeep Singh Puri
Central Govt has always been sensitive to environmental concerns and will continue to adhere to the highest standards during the period of construction, Puri said.
BUSINESS
Should you buy a house in 2021?
There are enough compelling reasons for those who have secure jobs. Post the pandemic, property valuations are at realistic levels, mortgage rates are at the lowest, some states have started reducing the stamp duty and developers are offering flexible payment schemes and GST waivers
BUSINESS
SC directs IBA, banks to meet court-appointed receiver to chalk out proposal for financing incomplete Amrapali projects
The Supreme Court’s direction came after the receiver R Venkatramani informed the court that he was not getting adequate response from the banks regarding his proposal for financing Amrapali projects.
BUSINESS
Crystal ball gazing into 2021 - what can real estate sector look forward to? Is the worst behind us?
If the economy starts moving towards a positive growth trajectory and the employment scenario improves substantially, residential demand will have sustainable growth from mid-2021. Mid and affordable housing, which is the major proportion of the demand, is likely to revive first
BUSINESS
Regulatory decisions that changed real estate landscape in 2020 and what needs to be done in 2021
Here's a look at some key regulatory interventions in 2020 and what remains to be done to boost the real estate sector.
BUSINESS
A look at investment options in real estate in 2021
The COVID-19 pandemic has changed long-held views on real estate. Besides residential and pure commercial real estate, investors can explore options such as warehousing, co-working spaces and even data centres in 2021.
BUSINESS
Looking back: Here are the top real estate deals of 2020
From high-value residential purchases in Mumbai to RMZ Corp selling 12.5 m sq ft of its real estate assets to a fund managed by Brookfield Asset Management for around Rs 14,680 crore, the COVID-19 pandemic-hit 2020 saw some of the biggest real estate deals.
BUSINESS
Name, logo, and design of Jewar airport finalised
Saras (stork), Uttar Pradesh's state bird, has been chosen as the logo and the name of the Jewar airport will be Noida international Greenfield Airport.
BUSINESS
Mumbai drops 34 places as world’s most expensive city for expats
A weak rupee and lower rents pushed the Indian financial capital to 94th rank on ECA’s International Cost of Living Report 2020. Hong Kong retains the priciest tag.
BUSINESS
Explained: What does reduction in premium mean? Will it benefit Maharashtra’s real estate developers and homebuyers?
Reduced premiums can make projects viable for developers and help avoid project delays due to funding issues; lower development costs to realtors would mean lower purchase cost to homebuyers, which in turn can help boost demand.
BUSINESS
Exclusive: Noida Film City expected to have a five-fold impact on real estate prices in the region, says YEIDA CEO
Adityanath had on September 18 directed YEIDA to submit its proposal for establishing a film city to the state government.
BUSINESS
EXCLUSIVE | We're coming to Mumbai to participate in a marathon and not a sprint, says Per Hornell of IKEA
IKEA's flagship store in Mumbai, which is the size of 10 football fields, will be launched in Navi Mumbai on December 18. The Swedish furniture retailer also plans to have two city-centre stores in Mumbai in 2021.
BUSINESS
CCI raids | No reason for cement companies to raise prices during COVID-19, says builders' body
Builders Association of India (BAI) statement comes after Competition Commission of India launched raids against LafargeHolcim, parent firm of ACC and Ambuja Cements, as well as on Aditya Birla group firm UltraTech Cement and Shree Cement.
POLITICS
New Parliament building would witness creation of self-reliant India: Prime Minister Narendra Modi
"If work was done to fulfill the needs of the country in the old Parliament building, then the aspirations of 21st century India will be fulfilled in the new building," Prime Minister Narendra Modi said.
BUSINESS
Explained | Will COVID-19 vaccine be the booster shot that real estate sector needs?
Real experts say it may take 12-18 months for the market to bounce back. The first segment to see an uptick will likely be the rental market after offices reopen and people return from their hometowns.
BUSINESS
Mumbai businessman buys premium property worth nearly Rs 28 crore
The 4BHK unit attracted a stamp duty of Rs 55.4 lakh. The duty cut is prompting many high-value buys before the Dec 31 deadline expires.
BUSINESS
IKEA to open its Navi Mumbai store on December 18
The over 5 lakh sq ft IKEA store is located on the Thane-Belapur Road, approximately 600 metres from the Turbhe station
BUSINESS
Lutyens Bungalow Zone: Four dozen properties up for sale; steep discounts on offer for non-performing assets held with lenders
Buyers comprise people who have been in the market for several months and are waiting to drive a hard bargain during the pandemic
BUSINESS
Is there a window of hope for those who bought flats in SARE Homes' Gurgaon project?
A look at what ails the project and the mitigation plan proposed by the HARERA-appointed consultant
BUSINESS
Global alternative legal service provider DWF Mindcrest leases 2.8 lakh sq ft office space in Pune
The deal valued at around Rs 125 crore is the first large transaction in Pune during the lockdown.
BUSINESS
Agreeing to grant easement rights even to original owner is service and attracts 18% GST: Tamil Nadu AAR
A pathway was leased to the original owner for 35 years for a consideration. Chennai Metro Rail Limited sought an advance ruling on whether GST shall be charged for leasing the pathway to grant access to both the parties.
