Category Archives: Real Estate News

Seeking to make fund raising easier, markets regulator Sebi on Monday provided relaxations to REITs and InvITs for preferential and institutional placement of their respective units. Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) can now raise equity capital through institutional placement route two weeks after a previous such exercise. Earlier, the mandated time gap was six months between two institutional placements. […]

 Demonetisation and the current Covid pandemic have been cited as two reasons for the devastation of the real estate industry by the state housing industry that is now offering various sops to revive the industry. In a Government Resolution issued on Tuesday, the department has said, “Initially Demonetisation and in recent times the Covid pandemic has made the financial condition […]

State Bank of India will provide relief to home and retail loan borrowers impacted by Covid-19 in the form of either a moratorium of up to 24 months or by rescheduling instalments and extending the tenure by a period equivalent to the moratorium granted. The moratorium period can be extended by a maximum of 2 […]

Real estate has been identified as one of the more deeply impacted sectors, and consequently, relatively high leverage levels have been permitted for the sector. The Reserve Bank of India (RBI) has recently released sector-specific leverage and debt-coverage guidelines for determining eligibility for restructuring of stressed loans, including those in the residential real estate sector. […]

1,500 hutments were demolished in Ambedkar Nagar in 2017 for allegedly encroaching on mangrove land; committee set up to examine if slum dwellers can be rehabilitated. Over 1,500 families who lived at Cuffe Parade’s Ambedkar Nagar, whose hutments were demolished in 2017 for allegedly coming up on mangrove land, can expect some relief as the […]

Days after the Maharashtra government decided to temporarily reduce stamp duty on housing units from 5 percent to 2 percent until December 31, 2020, it has now decided to hike the ready reckoner (RR) rates in the state by around 1.74 percent, sources said. “The ready reckoner rates have been hiked by 1.74 percent,” they […]

Tenants thrilled at rates being cut by 20%, getting longer leases and having rent hikes waived. A G Mehta never had a problem finding tenants for her flat near Andheri station. Regardless of the rent she demanded—the last time it went for Rs 32,000—the 450-sqft flat used to be snapped up quickly. The lockdown changed […]

MahaRERA directs new promoter to be transparent about approvals, completion schedule and financials with homebuyers; asks for formation of society within 30 days. An ambitiously-branded residential project, the US Open Apartments in Mulund West, is set to recommence after a long wait of ten years. The Maharashtra Real Estate Regulatory Authority (MahaRERA), in an interim […]

RBI said lenders can consider other parameters while finalizing resolution assumptions, apart from the mandatory ratios. Banks must ensure that restructured loans meet specific financial parameters by March 2022, a committee set up by the central bank to suggest debt recast rules said, in a signal that it expects things to improve in less than […]

Japan’s largest bank MUFG has picked up 30,000 sqft space in Adani Realty‘s commercial building at BKC on lease for 10 years for around Rs 90 crore, sources said. The bank, which began operations in Mumbai in 1953, is relocating its India headquarters to BKC after being in Nariman Point for many years. Established in 1919 in Japan, the bank moved to Hoechst […]