Category Archives: Real Estate News

Cheaper mortgages, purchaser incentives and the lure of a potential bargain are driving a sales boom in Mumbai. Before the pandemic, Mayank Vora, 34, and his wife were struggling to afford a one-bedroom apartment in one of Asia’s costliest cities. Now they are the proud owners of a two-bedroom home in a high-end residential complex […]

According to a 19 November report by Crisil, new home sales in MMR in October were 1.3 times higher compared to January after the Maharashtra government reduced stamp duty from 5% to 2% till December and to 3% for the January-March period. While the housing sector in the Mumbai Metropolitan Region (MMR) witnessed a pick […]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), in its recent order, has clarified that when a taxpayer sells two residential properties and re-invests in one residential house, he or she is entitled to tax benefit under section 54. This ruling will be very helpful to several individuals. With work from home here […]

After a delay of three years, the state is finally set to implement a unified development control rules policy for all municipal corporations, councils and nagar panchayats in Maharashtra, excluding Mumbai and a few surrounding areas. The standardised rules will leave little scope for misinterpretation by local town planning officials, said. Thane, Navi Mumbai, Pune, […]

State extends new concessions through draft notifications proposing changes in development control regulations. The state government on Wednesday extended fresh floor space index incentives to developers to boost cluster development, which later could also include slum development. The incentives have been introduced through draft notifications proposing changes in development control regulations for old and dilapidated […]

Adani Group and Piramal Enterprises are among the four entities that have placed bids for DHFL, the first financial services player undergoing insolvency process, according to sources. Besides, sources said, the US-based Oaktree and Hong Kong-based SC Lowy submitted bids for DHFL on October 17, the last date to submit final bids. In November, the Reserve […]

Make your office Vastu Shastra friendly by keeping in mind the principles of design, layout, space arrangement and spatial geometry. Vastu is a science that deals with the construction and architecture. It works by balancing five elements of environment – Water, Fire, Earth, Air, and Space. Here’re some tips to follow for the success of […]

Global asset management major Brookfield will file for a USD 600 million (around Rs 4,440 crore) initial public offering for its real estate investment trust (REIT), merchant banking sources said on Thursday. The Canadian asset manager is filing the Draft Red Herring Prospectus (DRHP), making it the third REIT to be listed in the country after Embassy Office Parks and Mindspace, […]

The country’s largest bank, the State Bank of India (SBI), is e-auctioning at least 1,000 residential properties, belonging to borrowers who defaulted on their loans, starting 30 September through October. The properties to be auctioned include open plots, residential, industrial, and commercial units across the country. Bank property auctions, typically, generate huge interest as such units […]

Indian residential property market turned more active during the quarter ending September as against the April-June quarter that was largely marked by lockdowns subsequent to the outbreak of Covid19 pandemic. Housing sales in top seven markets including Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune and Kolkata rose to 14,415 apartments, up 34% from the previous quarter, […]