BUSINESS
High rents, poor business trigger exodus of F&B brands from Delhi’s Khan Market
Stringent social-distancing norms, rising infections and failed rent negotiations see businesses exit India's most expensive retail location.
BUSINESS
Amrapali case: SC directs banks to restructure loans given to homebuyers despite accounts being declared NPA
The apex court also capped the interest charged by the Noida Authority from builders for the delay in lease payment at 8 percent
BUSINESS
COVID-19 impact | Oberoi Realty lays off 75 employees
Employees will be compensated for the period of the lockdown and will be paid their balance dues in full compliance with all applicable HR compliances, the company said.
BUSINESS
Around 500 homes in Jaypee projects likely to be handed over within 3 months
Construction work is currently being overseen by the interim monitoring committee
BUSINESS
Residential property prices, rents fall 20-25% in big cities
Builders are hesitant to drop prices despite the coronavirus stress, but savvy homebuyers and tenants are seizing good deals in India’s urban clusters.
BUSINESS
Unlock 1.0 | 250 large malls across the country open doors after over two months
Reopening subdued; COVID marshals deployed to ensure government's SOPs are adhered to; categories such as electronics and cosmetics do well on Day 1
BUSINESS
Extending RERA deadline for real estate projects “illegal”, homebuyers write to PM Modi
Extension should only be for the actual period of the lockdown when construction was not permitted, they said
BUSINESS
Unlock 1.0: SOPs may lead to rise in maintenance costs by 15-20% in malls
The SOPs released on June 4 mandate frequent sanitation, staggered entry of shoppers into the mall and deployment of adequate manpower by the mall management to ensure social distancing norms.
BUSINESS
COVID-19 impact | Only companies with innovative ideas will survive: KP Singh
"The economic upheavals which are bound to unfold after the recovery from the COVID-19 episode are unimaginable at this stage. However, one thing is certain that eventually recovery will happen. When? God only knows," he said.
BUSINESS
Exclusive | NAREDCO's Hiranandani on Piyush Goyal advice: Builders with big borrowings must cut prices
Government should scrap Section 43 CA of IT Act, reduce ready reckoner rates if it wants price reduction of over 10 percent
BUSINESS
SBICAP expresses willingness to fund stuck Amrapali projects
Supreme Court directs multi-national firm JP Morgan to deposit Rs 140 crore; next hearing on June 10.
BUSINESS
Unlock 1.0: Now, get ready to pre-book a visit to the mall
Apparel stores will be encouraged to avoid trial of clothes. Washrooms in malls will also see some changes. Every alternate urinal and washbasins will be blocked and only limited people would be allowed at any given point.
BUSINESS
COVID-19 impact | Pharma, medical health equipment companies may drive demand for commercial spaces
Some experts feel commercial lease rentals may come under pressure in a few locations and may witness a decline of at least 20 percent.
BUSINESS
SBICAP Ventures lowering IRR to 12% for Rs 25,000 crore stressed asset fund not enough: Realtors
While some real estate experts said SBICAP’s decision to reduce IRR to 12 percent is a positive move, others said many issues such as lenders not willing to give a no objection certificate (NoC) still remain.
BUSINESS
Naredco-UP signs MoU with UP government to provide jobs to 2.5 lakh labourers
Around 1.25 lakh workers will be absorbed at project sites spread across Ghaziabad, Noida and Greater Noida in Delhi-NCR
BUSINESS
COVID-19 impact | Govt advises states, UTs to extend real estate projects-related approvals by nine months
MoHUA has directed that permissions relating to payment of charges and compliances required for construction may be rescheduled automatically without any requirement of individual application. This is in line with promoting Ease of Doing Business
BUSINESS
COVID-19 impact | Commercial real estate space take-up may shrink by 20-25%
Commercial footprint of many companies may get reduced by as much as 20-25 percent due to the emphasis on work from home
BUSINESS
Amrapali case: Supreme Court reserves order on financing of stalled projects
Directs enforcement directorate (ED) to consider the objections raised by JP Morgan India against attachments of its properties in the Amrapali case.
BUSINESS
One year of Modi 2.0: Real estate sector sees long-term initiatives, but quick fixes to boost housing demand missing
Introduction of a Rs 25,000 crore stressed fund for stalled real estate projects to the COVID-19 financial package announced by FM earlier this month marked some of the key measures.
BUSINESS
Real estate sector unable to benefit from reduction in repo rates, CREDAI to RBI Governor
It has asked RBI to direct banks to pass on the benefit of the rate cuts to NBFC/HFCs.
BUSINESS
CREDAI writes to PM Modi; seeks immediate relief to boost liquidity, demand among homebuyers
Demands one-time debt restructuring, resumption of subvention scheme and quick deployment of Rs 25,000 crore stress fund for completing stalled housing projects
REAL-ESTATE
Amrapali case: SC asks govt to consider granting a Rs 500 crore loan to complete stalled projects
The court receiver has suggested that the GST authorities be directed to waive GST on construction of the Amrapali projects. The next date of hearing is scheduled for May 27
BUSINESS
Investment tips in COVID-19 times: Here is what a commercial real estate expert says
The last thing you want to be doing in these situations is to look for a new tenant or be dealing with a rogue developer. Here are some quick pointers from the pro.
BUSINESS
RBI’s interest rate cut, loan moratorium extension will infuse liquidity in real estate sector
Some realtors disappointed, say respite would have been greater had the long-standing demand of the sector for a one- time restructuring of loans been considered
