BUSINESS
MC Explains: How unpaid dues by Noida and Greater Noida builders leaves homebuyers in the lurch
Unless developers clear their dues to the authorities, about 100,000 buyers cannot get their homes registered.
BUSINESS
Nandan Nilekani-run family trust sells Bengaluru's Billionaire St property for Rs 54.70 cr
Koramangala’s Third Block is considered to be one of the richest enclaves in India’s IT capital, which is home to tech giants such as Infosys and Wipro, apart from startups.
BUSINESS
DDA approves Draft Master Plan 2041
It will now be forwarded to the Ministry of Housing and Urban Affairs for final approval and notification, the DDA said in a statement.
BUSINESS
Amrapali case: Supreme Court dismisses real estate developers' plea to cap interest rate at 8%
Homebuyers hope the uncertainty over the land dues will end now and the authorities will find a way to ensure that the process of registry starts at the earliest without any further delay and no undue burden is passed on to them
BUSINESS
MC Explains: Will SC order to Noida Authority not to insist on upfront payment of dues help homebuyers?
But the Noida Authority and Greater Noida Authority have raised serious objections on issues related to payment to them, saying huge stretches of land have been given to Unitech, which had failed various deadlines, including for starting construction at the site. They have argued that there are no homebuyers and that the Unitech Group wants to construct buildings without paying the dues.
BUSINESS
MC Exclusive: Godrej Properties acquires Raj Kapoor’s bungalow in Chembur for Rs 100 crore
The bungalow is located on Deonar Farm Road in Mumbai’s Chembur, near the Tata Institute of Social Sciences (TISS). The neighbourhood is considered to be a premium residential area, the company said in a filing to the BSE.
REAL-ESTATE
Mondelez India Foods renews lease of 66,755 sq ft office space in Mumbai for three years for Rs 1 crore a month
Modelez India Foods has taken five office units located on the 18th, 19th, 20th and 22nd floor. There are two units on the 19th floor, the documents showed.
BUSINESS
MC Explains: How soaring land prices led to shelving of affordable plotted housing scheme in Gurugram and Faridabad
Land prices in the two hyper-potential towns have trebled since the announcement of the scheme in 2016 making it unaffordable and prompting the government to put it on hold.
BUSINESS
K Raheja Corp acquires FSI rights of almost 1.52 lakh sq ft in Mumbai for Rs 275 crore
K Raheja Corp, through its subsidiary K Raheja Corp Realty Pvt Ltd, acquired the rights from M M Developer and Saroj Landmark Realty LLP.
BUSINESS
Welspun Group chairman buys penthouse in Mumbai for Rs 230 crore in India's costliest deal
The penthouse, located on the 63rd floor, is spread across a carpet area of 29,885 sq. ft. and a terrace of 4,815 sq. ft. The deal was registered on February 8, 2023. The buyer paid a stamp duty of Rs 13.83 crore. It comes with 14 car parking spaces, the documents showed.
BUSINESS
Uttar Pradesh RERA leads with 41% share of consumer dispute resolution
UP RERA will soon start grading projects and developers based on various parameters like financial quality, organizational structure, certifications, track records, compliance adherence and customer feedback. The process will commence after approval of the Grading Framework by the state government
BUSINESS
Former Axis Bank MD and CEO Shikha Sharma sells property in Mumbai for Rs 32.25 crore
The apartment has a total saleable area of 4390 sq. ft and comes with three car parking slots.
BUSINESS
RBI policy rate hike on ‘expected’ lines; to impact affordable housing demand
The sixth straight increase in the repo rate comes on the back of rising property prices which may add to the pressure on sales volumes, say analysts.
BUSINESS
Icertis co-founder and CTO buys apartment in Mumbai for Rs 37.98 crore
The deed of the apartment was registered on January 18, 2023.
BUSINESS
5 things about Radhakrishna Damani's record Mumbai property deal worth Rs 1,238 crore
Most of these apartments have a carpet area of 5,000 sq ft, and cost Rs 40-50 crore on average, property registration documents accessed by Zapkey.com showed.
BUSINESS
NRI buys apartment in Mumbai's Morena House for Rs 83.37 crore
The unit is located on the third floor and the total carpet area is 5,211 sq ft. The buyer has paid a stamp duty of around Rs 5 crore
BUSINESS
D’Mart’s Damani seals country's largest real estate deal at Rs 1,238 cr for 28 luxury apartments
This comes close on the heels of a provision in the 2023 budget that imposes a Rs 10 crore cap on the reinvestment of capital gains from the sale of housing property from April 1
BUSINESS
Budget 2023 focuses on urbanisation, expediting Housing for All programme
While some real estate experts termed it a ‘balanced budget’, others said there were no ‘immediate booster shots' for the sector
BUSINESS
Budget 2023: Rs 10-crore cap on capital gains deduction to affect uber luxury property sales
Real estate experts say this may impact sale of uber luxury properties in Delhi and Mumbai and stamp duty collections
BUSINESS
Budget 2023: Affordable housing gets push, PMAY allocated Rs 79,000 crore
A sum of Rs 48,000 crore was set aside in the previous budget for the completion of 80 lakh houses under PMAY
BUSINESS
Economic Survey 2023: Capital expenditure on housing and urban affairs declined 32% in 2022-23
Overall, the Centre’s capital expenditure went up 63.4 percent between April and November 2022, the survey said.
BUSINESS
Economic Survey 2023: Housing prices firming up, unsold inventories decline
Real estate experts say that the Economic Survey 2022-2023 is upbeat about the sector
BUSINESS
Economic Survey 2023: Vaccination coverage led to migrant workers returning to construction sites fueling the housing market
The inventory overhang in the housing market has also witnessed a significant decline and fell to 33 month in Q3 of FY23 (October-December) from 42 months last year.
BUSINESS
10 things the real estate sector is looking forward to from Budget 2023
Higher deduction on interest paid on home loans, and change in capital gains norms top wish list from homebuyers and real estate players for Budget 2023
