BUSINESS
Consumer court directs Ansals to provide full refund to 90 buyers for not handing possession for over 12 years
NCDRC rules that homebuyers cannot be made to wait indefinitely for possession of plots; Builder’s settlement with a few buyers is not enough when a class action suit is invoked, especially since huge amounts paid by thousands of buyers are at stake
BUSINESS
India’s biggest-ever property deal: Bengaluru-headquartered RMZ Corp sells assets worth $2 billion to Brookfield
RMZ Corp will sell 12.5 m sq ft of its 67 m sq ft real estate assets to fuel its hyper-growth strategy
BUSINESS
Simpliwork Offices leases over 230,000 sq ft space in Pune
JLL, the real estate consultancy firm, facilitated the deal. This is Simpliwork’s first ever office in the city and the largest deal of 2020 till date in the city in terms of area leased
BUSINESS
Real estate firms chase buyers with innovative schemes this festive season to beat COVID-19 blues
Cash discounts, lower interest rates, free accessories, GST, stamp duty waivers, free maintenance and swap of your property, builders are leaving no stone unturned to attract homebuyers this season.
BUSINESS
Banks can restructure loans to COVID-19-impacted real estate firms on the basis of project rather than developer
The move will ensure that projects are evaluated individually before being declared NPAs; buyers no longer will have to wait for an indefinite period for their homes and developers will get greater payment flexibility.
BUSINESS
Birla Estates to invest over Rs 500 crore to develop its maiden project in Gurugram
Birla Estates has tied up with Delhi-based realty firm Anant Raj Group to develop floor-rises in Gurugram. The starting price of the units is Rs 1.36 crore
BUSINESS
24 states/Union Territories sign pacts with Centre to implement affordable rental housing scheme
The government is extending several incentives including free Floor Space Index (FSI), concessional project finance, free of cost trunk infrastructure facilities, among others to push participation in this scheme
BUSINESS
Embassy Group forays into senior living segment, to invest over Rs 1,000 crore by 2024
The Embassy group will enter into a 50:50 joint venture with Columbia Pacific Communities for the project. The homes at these 'Senior Living Communities' will be offered for sale as well as through leases.
BUSINESS
Exclusive | At least 13 Delhi-NCR projects accorded final approval under SWAMIH Fund
A majority of the projects considered for stress funding had RERA and NCLT cases pending against them
BUSINESS
Mantri Developers becomes first project in Bengaluru to secure funding from SWAMIH Fund
The funding will be utilized for the construction and completion of its project Mantri Serenity.
BUSINESS
Risk weightage on housing loans rationalised | RBI move to boost demand for real estate
The measure will boost affordable, mid and luxury housing and spur demand in Tier I and select Tier II cities
BUSINESS
Stamp duty cut boosts housing sales in Mumbai, touches 86% of pre-COVID levels
Trend likely to continue in the next two months on account of offers and schemes by real estate developers to push sales
BUSINESS
Despite COVID-19 pandemic 17.38 mn sq ft of commercial space taken up between April to September 2020
IT/ITeS sector takes up lion’s share of 7.72 mn sq ft; Bengaluru tops leasing activity
BUSINESS
33 housing projects worth Rs 4,197 crore accorded final approval under SWAMIH Fund: Finance Minister
As many as 123 projects have been sanctioned, including final approval to 33 projects, with an investment of Rs 12,079 crore that would target to provide relief to 81,308 homeowners
BUSINESS
Lease of commercial plot or land for 99 years is a supply and attracts GST: Gujarat AAR
The matter concerned a partnership firm based in Ahmedabad that had secured the bid for a commercial plot through an e–auction conducted by the Ahmedabad Urban Development Authority
BUSINESS
HSIIDC alots 140 acres to Flipkart in Manesar
The e-commerce giant intends to set up a logistics park on the land parcel over the next 3-5 years.
BUSINESS
Stuck with a housing unit and want a quick exit? Try swapping it with a completed property
But study the scheme documents thoroughly and pay special attention to the fine print. Make sure you don’t sign on any document that restricts your right as a consumer or waives any liabilities of the developer
BUSINESS
Ministry of Urban Affairs-Swiggy partner to take street food vendors’ businesses online
The initiative has been launched in these five cities on a pilot basis by on-boarding 250 street food vendors
BUSINESS
COVID-19 impact: Thailand-based property development firm plans to launch two co-working centres by second quarter in 2021
To cope with the pandemic related challenges, it has offered deferred rents for at least two months to its clients, revised rents between 30 percent to 40 percent downwards and even reduced the lock-in period by half
BUSINESS
Despite COVID-19 more developers preparing for a REIT listing
The listing of two REITs and now the upcoming third one by Brookfield clearly demonstrates investors’ faith in the commercial office market compared to investing in physical real estate
BUSINESS
Maharashtra govt’s decision to reduce stamp duty rates leads to increase in real estate sale registrations
Sale registrations in the state are at over 90 percent of pre-COVID levels, shows an analysis by Propstack.
BUSINESS
Mumbai-based Group Satellite to invest Rs 100 crore in five projects, first launch likely in December
Aimed at first-time homebuyers, the affordable-to-luxury housing group plans to launch houses priced at Rs 45 lakh by December this year.
BUSINESS
New Film City along Yamuna Expressway: What homebuyers and property investors should know
Real estate experts are of the view that for homebuyers and investors looking at a five-year investment horizon, the Yamuna Expressway has several options, including studio apartments
BUSINESS
Second pre-bid meeting for redevelopment of New Delhi Railway Station held
Last date of submission of RFQs is November 6
