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September 2020 – Page 2 – Spectraa Real Estate Advisory

Monthly Archives: September 2020

Advantage homebuyers as ‘US Open’ luxury project to restart

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 […]

Kamath panel gives priority for realty

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 […]

Japanese bank MUFG leases 30,000 sq ft space at BKC from Adani Realty

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 […]

Maharashtra may review RR rates by the end of September

The state government may review the ready reckoner rates by the month-end, focusing on their rationalisation. Senior officials dropped hint that the state government might reduce the ready reckoner (RR) rates wherever they were on the higher side. The RR rates have remained unchanged for the past two-and-a-half years. A source in the state revenue […]

Exclusion plan cleared, DP 2034 in Oct

Development Plan 2034 seeks to open up 3,700 hectares of land for construction of residential real estate. The Exclusion Plan (EP) for the Development Plan 2034 has been cleared and the DP will be finalised by October. EPs are portions of the plan to which the government made substantial changes after it was submitted by […]

Co-working operators start witnessing fresh demand after five months

Co-working and managed workspace operators have started witnessing fresh demand after a five month disruption due to Covid-19 pandemic as leading co-working players have reported reaching 50 per cent fresh leasing levels in July compared to the monthly average during the pre-Covid times. Covid induced lockdown had impacted the co-working operators the most as a […]