On Sunday, Delhi Chief Minister Arvind Kejriwal appealed to the landlords not to compel tenants to pay rent for two or three months, saying that the rent would be paid by his government if tenants fail to do so. “I appeal to all landlords not to compel tenants to pay rent for two or three […]
Delhi CM Arvind Kejriwal appealed landlords not to compel tenants to pay rent for a few months.more
The Reserve Bank of India joined the huge battle on March 27 with a host of steps aimed at mitigating the harm from Covid-19 a day after Modi govt started his economy rescue in right earnest with a Rs 1.70 lakh crore coronavirus counter. Those steps come just hours after Moody’s Investors Service reduces India’s […]
Reserve Bank of India puts hold on Housing Loan EMI’s for the next three months.more
The airport hospitality service providers, who had to close down lounges after air traffic suspension, have urged airport operators to offer some relief on the heavy rents they pay for utilizing their facilities. The lounge operators have requested the operators at some airports where they pay the minimum guarantee to reconsider the guarantees due to […]
COVID-19: The impact of lockdown makes airport hospitality service providers urge for relief on heavy rents.more
Real estate developers body is looking for a 12-month deferral of housing loan instalments, a 2-year moratorium on project loans, issuance of building plans and other permits that are being supported by payment of fees, and other steps to help the real estate industry in UP and Haryana. The National Real Estate Development Council (NAREDCO-UP) has […]
Developers’ body seeks to defer housing loans EMI for a 12months.more
Finding it hard to keep a tab on people being asked to be home-quarantined to control coronavirus disease (COVID-19), Pune Municipal Corporation (PMC) has now placed the responsibility on the chairpersons of housing societies to see if the respective residents are being confined. The officials of the civic body have agreed to send the list […]
PMC makes housing societies’ chairpersons accountable to make the residents home quarantined.more
While the industry and policymakers evaluate the damage caused to the banking system by the Coronavirus attack, a ball-park possible based on the past forecast reveals that, in the worst-case scenario of macro-economic recession, bad loans may grow to 120 basis points with banks in the private sector experiencing high risk. A stress test performed by […]
Market forecast: Private sector banks may face the maximum risk of bad loans.more
Realty developers body the Confederation of Real Estate Developers Association of India (CREDAI) has opted to pay construction staff even though they are off work owing to sickness or work stoppage at the site in the context of ongoing coronavirus mayhem. CREDAI has mentioned in a letter to members of its realty developers that this change would […]
Realtors’ body rules to provide wages to the construction workers even though they are off work due to COVID19.more
On March 19, the Bombay High Court recommended that civic bodies in Maharashtra temporarily refrain from carrying out demolition or auction of property as courts, which are often shifted for relief in such matters, are already operating for restricted hours owing to the coronavirus epidemic. A Division Bench of Justices S J Kathawalla and R I […]
Bombay High Court halts property demolition & property auctions until 31st March.more
Against the backdrop of the Coronavirus outbreak and its effects on the economy, the body of real estate developers, the Confederation of Real Estate Developers’ Associations of India (CREDAI), seeks to delay the debt repayment scheduled for the next 3 months and to be permitted to recover in installments over the next 12 months. The developers’ […]
CREDAI plans to reset the interest rate along with rescheduling debt repayment.more
US-based flexible office space provider Kovorks collaborated with city-based Marvel Infrabuild to create India’s largest coworking facility with a capacity of around 25,000 desks. The new luxurious co-working space would extend across 15,000,00 sqft at Whitefield main road. Kovorks already runs versatile offices in seven locations in the US and Malaysia. “India’s co-working market has […]
US-based company Kovorks partnered with Marvel Infrabuild to develop India’s largest co-working space in Bengaluru.more
