BUSINESS
Cabinet approves development of affordable rental housing complexes for urban migrants
An expenditure of Rs 600 crore is estimated in the form of technology innovation grant, which will be released for projects using identified innovative technologies for construction
BUSINESS
COVID-19 impact: As deals nosedive in student housing hubs, rents crash by over 30%
With most students having gone back to their hometowns, brokers in educational hubs across Kota, Delhi and Pune complain that the last three months have been a complete ‘washout’ with ‘zero deals’ and rents have dipped by over 30%.
BUSINESS
High rent, low footfall: Is COVID-19 playing party pooper for high-street retailers in Lower Parel mill area?
Tenants planning to move out are willing to compromise on the size because the rents are too high and it is difficult for them to sustain in these times as footfalls are few and far between.
BUSINESS
RLDA to issue tenders worth Rs 10,000 crore for land redevelopment in FY21
It had issued tenders worth Rs 3,500 crore in 2019-20 and earned a revenue of Rs 931 crore
BUSINESS
Will Jet Airways’ office sale to Brookfield for Rs 490 crore set a benchmark in Mumbai’s BKC?
Real estate experts say that going forward this may not impact capital valuation of Grade A office spaces in the area as there has been no fresh supply in the BKC market of late
BUSINESS
JLL partners with RoofandFloor to offer a seamless homebuying experience in India
RoofandFloor is a technology-driven online marketplace for homebuyers in India.
BUSINESS
COVID-19 impact: Smart cities in India to get cycling-friendly with Cycles4Change Challenge
India Cycles4Change Challenge is an initiative of the Smart Cities Mission to support Indian cities to quickly implement cycling-friendly initiatives in response to the pandemic. Portal will be launched on July 10
BUSINESS
Properties in news | Rana Kapoor's posh Mumbai, Delhi homes may go under the hammer
Some of these properties will be auctioned if the former banker fails to pay his dues to Indiabulls within the next two months.
BUSINESS
PMAY (U), AMRUT and Smart Cities Mission a boon in fight against COVID-19: Hardeep Singh Puri
PMAY (U), Smart Cities Mission (SCM) and Atal Mission for Rejuvenation and Urban Transformation (AMRUT) have completed five years
BUSINESS
COVID-19 lockdown: Most corporate tenants complete lock-in period, can move out by serving notice period
Real estate experts say that this may leave enough room for them to reassess and renegotiate terms with landlords and exit in case of financial and COVID-19 related compulsions
BUSINESS
Blackstone stake sale in Embassy Office Parks REIT positive for commercial real estate: Experts
"Even in unprecedented times, large institutional investors are seeing value in committing significant incremental capital and that is a positive for India’s commercial real estate segment," said Anckur Srivasttava of GenReal Advisers.
BUSINESS
Model Tenancy law will be placed before Cabinet for approval soon: Housing Secretary
The government will also bring out detailed guidelines on Affordable Rental Housing Complexes (ARHC) for urban poor and migrants
BUSINESS
Exclusive | Consumer court orders realtor BPTP to refund Rs 1.19 crore to a homebuyer with interest
The builder, BPTP, has also been ordered to pay Rs 50,000 as cost of litigation.
BUSINESS
Rail Land Development Authority invites proposals for 15 multi-functional complexes
The total plot area of the 15 sites is around 22,941 sq m and the approximate earning to railways by leasing these plots would be around Rs 50 crore
BUSINESS
Sale of developed plot is a 'supply of service' and will attract GST: Gujarat AAR
The AAR has clarified that sale of land transaction shall be out of GST net only if the activity is exclusively dealing with transfer of title/ transfer of ownership of land.
BUSINESS
Amrapali case: Supreme Court directs JP Morgan to transfer Rs 140 crore along with interest
Amount to be utilised for construction of stalled projects; SBICap granted four weeks to firm up proposal for financing unfinished projects.
BUSINESS
SBICAP Ventures considering 10 incomplete projects of Amrapali: Sources
At the Amrapali case hearing on June 3, SBICAP Ventures had informed the Supreme Court that it would create a Special Purpose Vehicle (SPV) with the court receiver and appoint a CEO to take over the construction of stalled projects in Noida and Greater Noida.
BUSINESS
COVID-19 impact | Most RERA authorities hear cases online; conform to social distancing norms
Hearings have been taking place in two benches of UP Rera at Gautam Buddh Nagar and Lucknow.
BUSINESS
23 state RERA authorities extend registration of projects by 6-9 months
Measure taken to safeguard interests of homebuyers, ensure that projects do not get stalled due to disruptions caused by COVID-19 pandemic and flats get delivered albeit with some delay, he said in a series of tweets
BUSINESS
SBICap stressed fund receives 100 fresh applications; number likely to double
The fund has received applications from both Tier 1 and Tier 2 cities such as Jaipur, Karnal, Mohali and Panchkula, Nagpur and Nasik. Smaller developers facing challenges to comply with the initial due diligence process
BUSINESS
Coronavirus impact: WFH, sealing of borders making people rent homes in peripheral areas
With the rise of work-from-home, prospective homebuyers are seeing the sense in shifting to city peripheries and are taking up larger homes at affordable prices and the 'walk-to-work' concept may lose some sheen
BUSINESS
COVID-19 impact | The big daddy of Mumbai’s real estate offers 20% discount on properties
A 559 sq ft property of Hiranandani has been closed for Rs 86 lakh this month. A similar unit was transacted at over a crore in March
BUSINESS
NBCC to handover 1,000 Amrapali units by year-end; 10,000 by June 2021
The estimated cost of completion of all 40,000-odd pending units of Amrapali is around Rs 8,500 crore
BUSINESS
Lockdown impact | Lodha Developers defers half salary of its employees by 3 months: Sources
Company spokesperson says there have been no salary cuts for FY 20-21 and the amount will be paid in full from the end of lockdown
