Category Archives: Real Estate News

Maharashtra has 56,000 millionaire households; highest in India | Economic Times

Maharashtra has 56,000 millionaire households; highest in India | Economic Times With 56,000 dollar-millionaire households, Maharashtra leads the country in wealth creation followed by Uttar Pradesh, Tamil Nadu, Karnataka and Gujarat, says a report. These states together account for 46 per cent of the 4.12-lakh millionaire households in the country. According to a wealth report by Hurun India, known for […]

Stamp Duty Cut in Maharashtra drives property registration worth Rs 11,000 Cr in Mumbai

The month of February 2021 witnessed over 10,000 housing units registered in Mumbai almost equivalent to January 2021 on the back of the stamp duty cut by the Maharashtra Government. On August 26, the Maharashtra government decided to temporarily reduce stamp duty on housing units from 5 percent to 2 percent until December 31, 2020 […]

Kotak Investment Advisors raises $380 million through new realty fund

The new fund will target a range of real estate financing opportunities mainly through debt funding across key cities in India. MUMBAI: Private equity major Kotak Investment Advisors has raised $380 million or Rs 2,770 crore from global financial investors through its new real estate fund. The fund is one of the largest dedicated real estate financing […]

UBS reduces outsourcing to IT services firms, opens facility in Hyderabad

Swiss multinational investment bank UBS has shifted work in-house to its own centres across three cities in India, even as it continues to work with India-based IT services providers such as Wipro, HCL Technologies and Cognizant. “We are still partners with Wipro, Cognizant and HCL. We have split the things that we wanted to keep […]

UBS opens new office in Hyderabad

In the last nine months close to 1,000 people have been strategically insourced Financial services major UBS has opened its fifth office in the country, in Hyderabad, underlining its commitment to India. UBS currently operates from offices in Pune (Yerwada and Kharadi), Navi Mumbai (Airoli) and in the Bandra Kurla Complex in Mumbai. Located at […]

Bombay HC clears way for Shapoorji Pallonji firm to develop large chunk of SRA project in tony Cuffe Parade area in South Mumbai

In a major relief for the Shapoorji Pallonji Group, the Bombay High Court has paved the way for its subsidiary to develop a large chunk of Slum Rehabilitation project of about 113321.54 square meters in tony Cuffe Parade area near the World Trade Centre in South Mumbai. On Tuesday, the division bench of Justice Nitin […]

Mumbai: L&T agrees to resume work on Naigaum BDD redevelopment

In a major turnaround, construction major Larsen & Toubro (L&T) has once again agreed to take up the Naigaum BDD chawl redevelopment project. A letter from the company withdrawing its termination notice and agreeing to resume work was submitted to the chief officer, Mumbai Board, Yogesh Mhase, on Monday. Mhase confirmed the development. Housing minister Jitendra Awhad […]

MREAT stays MahaRERA order asking Godrej Properties to refund home buyer

Maharashtra Real Estate Appellate Tribunal (MREAT) has stayed a MahaRERA order of August 2020 asking Godrej Properties Ltd to refund Rs 39 lakh forfeited by the developer from a home buyer from The Trees project in Vikhroli after terminating the agreements for two flats for alleged failure to stick to payment schedule. Allowing the appeal, the tribunal bench comprising chairperson Justice […]

IKEA to open its Navi Mumbai store on December 18

IKEA, part of the Ingka Group, the Swedish brand and global furnishings retailer has announced it will open the doors to its Navi Mumbai store on December 18, 2020. The over 5 lakh sq. ft IKEA store will inspire people with more than 7,000 well-designed, affordable, good quality and sustainable home furnishing products along with […]