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Nearly 50% of unsold residential inventory faces high execution risk
Publish on : 2020-07-09 11:36:16
MUMBAI: Nearly 50% of unsold housing inventory across India is facing the risk of being delayed or is susceptible to price correction. More than the risk price correction; the risk of default in execution poses a bigger challenge for Indian real estate, showed a stress test conducted by Liases Foras...
Shapoorji Pallonji among 4 finalists for 535-acre theme park, UK's largest
Publish on : 2020-07-08 19:12:42
EPC cost pegged at $1.8 billion; first phase to be launched in 2024 One of India’s top conglomerates, the Shapoorji Pallonji group, is in the final lap to bag the construction mandate of the UK’s largest amusement park, persons aware of the development told Business Standard. Pegged at $1.8 bi...
If home buyer opts out, builder must refund most amount: NCDRC
Publish on : 2020-07-03 12:18:05
NEW DELHI: A home-buyer will have to forfeit only the earnest money paid at the time of booking a flat and the builder has to refund the rest of the amount if the buyer decides not to take possession of a flat, the National Consumer Disputes Redressal Commission (NCDRC) has ruled. It also said one-y...
Maharashtra Real Estate Tribunal says booking amount forfeiture unfair due to inequitable, one-sided pacts
Publish on : 2020-07-02 11:19:29
MUMBAI: In a significant judgment, an appellate tribunal has directed a real estate developer to refund the booking amount it had forfeited from a homebuyer, saying that some key clauses in the allotment letter did not conform to applicable laws. Maharashtra Real Estate Appellate Tribunal set asi...
Mumbai, suburbs record 2,100 property deals in a month after lockdown
Publish on : 2020-06-27 11:44:18
MUMBAI: After nearly two months’ pause due to the lockdown, the registration offices in Mumbai and suburban localities have recorded around 2,100 property transactions in about a month, fetching the state government Rs 105 crore since offices were reopened on May 18. Though the numbers are still...
GST jolt for real estate developers: Paying tax on rent they never got
Publish on : 2020-06-27 11:29:49
MUMBAI: Property developers were already battling a pronounced demand slump for rented space, resulting in either surrendered tenancy or abysmally low rents. And they now have another problem to tackle – paying goods and services taxes (GST) at 18% GST on rents either not received or paid only parti...
Around 63% MMR property deals in FY20 at 20% premium to reckoner rates: Report
Publish on : 2020-06-27 11:24:51
MUMBAI: Around 63% of sale transactions concluded in Mumbai Metropolitan Region during financial year 2019-20 were recorded at a 20% premium to ready reckoner rates, showed a study by data analytics firm Propstack. While ready reckoner premiums vary across the Mumbai region, the percentage of tra...
SC asks banks to disburse stalled loans to Amrapali Group homebuyers, restructure amounts
Publish on : 2020-06-11 13:31:08
Earlier, RBI had informed the court that its instructions do not come in the way of releasing home buyers' loans whose accounts are Non-Performing Assets (NPA) and it was for the banks and other financial institutions to release the loan. NEW DELHI: Coming to the rescue of thousands of hassled...
Realty hot spot series: Good infrastructure is the main draw of this Kolkata locality
Publish on : 2020-06-09 12:44:58
There are 1,2,3 and 4 BHK properties in the locality. The houses are priced between Rs 2,700 per sq foot (sq ft) and Rs 5, 900 per sq ft. A 1-BHK (480 sq ft) costs an average of Rs 17 lakh and a 4-BHK (1,900 sq ft) costs about Rs 80 lakh. This week's realty hot spot series features Garia-Patuli,...
Jaypee home buyers want to be in monitoring committee
Publish on : 2020-06-09 12:38:40
Meanwhile, a homebuyers’ association has appealed to the NCLAT to be made a party in the interim monitoring committee that will look into the day-to-day affairs of the builder company. NOIDA: Despite a growing clamour for fast takeover the of debt-ridden Jaypee Infratech, state-run NBCC has said...

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