The Bombay High Court has restricted the Canara Bank from taking over the Bungalow in Worli area, Mumbai, from one of its borrowers and the Guarantor of a loan under the SARFAESI Act, 2002. The bungalow, which has been mortgaged to use a credit line, extends over almost one-third of an acre and is priced […]
Bombay High Court prohibits Canara Bank from acquiring Worli Bungalow.more
Due to a sustained sales drop and the ongoing liquidity crisis, the number of property developers brought into the bankruptcy court has more than doubled in the past one year. Data from the Insolvency and Bankruptcy Board of India demonstrates for the period of June 30 in which more than 421 realtors were under the […]
Almost 421 realtors were under the bankruptcy court, doubled then the last year.more
In order to avoid any risk while buying a property, an individual must know about the legal documents which are as mentioned: 1) Commencement Certificate (CC) 2) Completion Certificate (CC) and 3) Occupancy Certificate (OC). You must have come across these terms but let’s see about all this documents role and importance. i) Commencement Certificate […]
Three must-have Legal Documents while buying a property.more
A decade after the widely publicized entry into India, Spanish clothing retailer Zara has asked few malls to renegotiate rental terms where they have been running stores for years, this includes a decrease profit-sharing deals and either lower or complete waiver, on charges paid to the landlords by the tenants for common area maintenance (CAM). […]
Spanish Fashion retailer ZARA is looking to reduce mall rentals and update revenue-sharing terms.more
By Abhay Shah According to a statement from the Anarock consultancy, the National Capital Region (NCR) suffered a 22% fall in housing sales quarterly. According to the report, annually sales decreased by 13% and by almost 22% on a quarterly basis with sales of almost 9,830 units in the third quarter of 2019. Out of […]
NCR housing sales declined by 22% – Anarock Consultancy Report.more
By Abhay Shah The Mumbai City Authority has announced that 125 houses for homeless people are being constructed in Mumbai, and 20 of these will be accessible in the next few months. The Brihan Municipal Corporation (BMC) replied to an RTI query submitted by activist Anil Galgali, that it followed an order of the Supreme […]
BMC will construct 125 shelter homes for the poor people in Mumbai.more
By Abhay Shah The fifth consecutive rate cut this year by the Reserve Bank of India is in line with expectations and could probably help boost consumers’ feelings in advance of the festive season, a significant quarter for the selling of real estate. Nevertheless, real estate experts said it was not enough to help flagging […]
RBI’s fifth Repo Rate Cut may increase the real estate sales in this last quarter of the year.more
By Abhay Shah According to a report, almost 10 developers and operators of commercial real estate have the potential to raise Rs 1.5 lakh crore by monetising 184 million sq ft of space through the real estate investment trust (REIT) route. The rating agency Crisil estimates that these assets account for around 30% of Grade […]
Commercial Real Estate Developer can raise Rs.1.5 lakh crore through the REIT method – CRISIL Report.more
The National Company Law Tribunal has launched a case against renowned Mumbai developer Lokhandwala Infrastructure Private Limited for insolvency settlement and has asked operational creditors, financial creditors, home buyers and employees to give proof in their claims by October 3. Proclamation issued by Ajit Kumar, the NCLT-appointed Insolvency Resolution Professional, said NCLT’s Mumbai Bench ordered the […]
Lokhandwala Infrastructure Private Limited, the second-biggest developer goes insolvent under the provisions of the Insolvency and Bankruptcy Code (IBC).more
By Nimisha Gupta Ready Reckoner Rates are the prices of the residential property land or commercial property for a given area and is published and regulated accordingly by the state government on yearly basis. There are various factors that contribute the hike in real estate price factors and the major part in deciding these prices […]
Real Estate Ready Reckoner Rates: What they mean for home buyersmore