Monthly Archives: August 2020

Mumbai’s Slum Rehabilitation Authority (SRA) has decided to grant permissions within seven days of application by developers to commence a project’s rehabilitation component in a bid to expedite redevelopment of dense slum pockets in the city. However, this comes with a condition that the developer has to fulfil all statutory compliances including initial documentation and […]

Co-working firm WeWork India on Thursday announced discounts up to 50 per cent for 3 months and free access to its members to over 800 centres globally, as part of its strategy to attract new clients amid the COVID-19 pandemic. The company globally has 828 centres in over 149 cities and 38 countries. WeWork India, which is owned by […]

Overseas debt investors appear to be buying Indian distressed assets again after a prolonged pause. About Rs 7,000 crore of Dewan Housing Finance (DHFL NSE 2.88 %) bonds changed hands in the secondary market in the past few weeks, albeit at discounts of 70-80 per cent. Deutsche Bank (DB) was the sole buyer of the […]

Amazon has leased about 2.8 million square feet of space in Bengaluru, Chennai and Mumbai to expand its offices in India as online customers shop more frequently and with larger baskets. The Chennai office will come up in the Brigade World Trade Centre. In Mumbai, it has signed a long-term lease agreement for space at […]

Shapoorji Pallonji Real Estate (SPRE) has raised $100 million (around Rs 750 crore) from non-banking finance company Asia Pragati, people with knowledge of the matter said. This is one of the biggest debt financing deals in real estate this year. According to sources, SPRE has gone for structured debt financing at a rate of around […]

Sobha has reported a dip of 93 per cent in its consolidated net profit in the first quarter of the financial year 2020-21. Its profit after tax (PAT) stood at Rs 6.6 crore in Q1 FY21 as against Rs 90.6 crore in the corresponding quarter previous fiscal, the company said in a BSE filing. The company’s […]

HDFC Bank has reduced its marginal cost of funds-based lending rates (MCLR) by 10 basis points across all tenors with effect from Friday. According to the HDFC Bank website, post the rate cut, the overnight MCLR stands at 7 per cent, the one month tenor stands at 7.05 per cent while the three-month MCLR is 7.10 […]

Some of the curbs imposed on the buildable area for plots in Mumbai on the basis of road width have been relaxed. Even as Mumbai’s Development Control and Promotion Regulations, 2034 (DCPR-2034) has advocated an minimum access of 9 m to a plot for permitting construction of high-rise buildings, a new policy has now paved […]

Godrej Properties (GPL) reported a loss of Rs 20.23 crore during the first quarter of the financial year 2020-21. Its profit after tax (PAT) stood at Rs 89.87 crore in the corresponding quarter previous fiscal, the company said in a BSE filing. The company’s total consolidated income stood at Rs 195.68 crore in Q1 FY21, a […]

While housing sales plunged across major cities during the covid-19-led nationwide lockdown, some developers are seeing a gradual return in demand. In an interview, Amarjit Bakshi, chairman and managing director, Central Park, talks about the NCR realty market, luxury projects and future challenges. Edited excerpts: How did the covid crisis impact project sales and launches […]