Category: Mumbai

Real estate leaders undertake social responsibility by contributing there best in this COVID-19 issue.

March 28, 2020

Industry leaders around the globe undertake social responsibility in one way or another, and players in the Indian real estate industry are still not behind. Although some have given their workers advance salaries, others contribute funds to the hospitals. Godrej Group has dedicated a Rs 50 Crore fund for community support and relief initiatives. The […]

Real estate leaders undertake social responsibility by contributing there best in this COVID-19 issue.more

COVID-19: The impact of lockdown makes airport hospitality service providers urge for relief on heavy rents.

March 27, 2020

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

SEBI orders Second Land Developers Pvt Ltd and its officials to repay ABG Shipyard LTD Rs 101 crore.

Markets regulator Sebi has ordered Second Land Developers Pvt Ltd (SLDPL) now established as Shivris Resources Pvt Ltd, and its senior officials to compensate ABG Shipyard Ltd in three months for illicit profits of a little over Rs 101 crore. The sum has to be paid along with an 8% annual interest rate. Second Land […]

SEBI orders Second Land Developers Pvt Ltd and its officials to repay ABG Shipyard LTD Rs 101 crore.more

Realty developers to advertise and close the housing deals via digital platforms.

March 24, 2020

Realty developers are now advertising their latest releases through digital platforms, as the Covid-19 outbreak and the predicted reduced amount of visits of homebuyers at their sales offices provide no relief. Several major developers such as Godrej Properties, Total Environment Building Systems, and Prestige Group have introduced digital site tours, confirmations and verifications from email […]

Realty developers to advertise and close the housing deals via digital platforms.more

Market forecast: Private sector banks may face the maximum risk of bad loans.

March 23, 2020

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

Realtors’ body rules to provide wages to the construction workers even though they are off work due to COVID19.

March 21, 2020

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

Bombay High Court halts property demolition & property auctions until 31st March.

March 20, 2020

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

ED attaches properties of Surya Vinayak Industries of Rs 66 crore under PMLA case.

On Thursday, the Enforcement Directorate (ED) said it has attached properties to the tune of Rs 66 crore of many persons implicated in a case involving Surya Vinayak Industries in a Rs 2,206 crore bank scam. The ED, in a report, said that in the case of Surya Vinayak Industries Ltd. and its group companies […]

ED attaches properties of Surya Vinayak Industries of Rs 66 crore under PMLA case.more

CREDAI plans to reset the interest rate along with rescheduling debt repayment.

March 19, 2020

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

Credai –MCHI reports about 65% of home buyers defaulting on installments.

March 18, 2020

The coronavirus disease has had a crippling impact on the real estate sector with approximately 65% flat buyers defaulting on installments since last week, said Credai -MCHI, the apex body comprising more than 1,400 builders in the Mumbai metropolitan region (MMR). Worse, there are also reports of the closing down of malls that retail stores will […]

Credai –MCHI reports about 65% of home buyers defaulting on installments.more