Category: Mumbai

EOW filed 32,000- page charge sheet against the promoters of HDIL and others.

December 30, 2019

The Economic Offenses Wing of Mumbai Police On Friday, in a Metropolitan magistrate court, filed a 32,000-page charge sheet against five persons at multi-crore Punjab and Maharashtra Cooperative (PMC) Bank scam. The charge sheet has been marked by Joy Thomas, former director of the bank, Waryam Singh, former chairman, Surjit Singh Arora former director of […]

EOW filed 32,000- page charge sheet against the promoters of HDIL and others.more

State minister Hardeep Singh Puri, speaks about 1.20 crore job creation under PMAY-Urban.

December 28, 2019

On December 27, Hardeep Singh Puri, State Minister for Housing & Urban Affairs said that approximately 1.20 crore jobs have so far been generated under PMAY-Urban through forward and backward linkages to around 250 auxiliary industries including steel, brick kilns, cement, paint, hardware, sanitary etc. According to investments made within the scheme about 568 lakh […]

State minister Hardeep Singh Puri, speaks about 1.20 crore job creation under PMAY-Urban.more

Housing Sales in Mumbai reached the highest level in the past 4 years.

December 27, 2019

Home sales in India’s financial capital, Mumbai, rose to the highest level in four years, as developers focused on building cheaper homes, according to Anarock Property Consultants. Sales in Mumbai grew by 22% in 2019 amid the continued credit crunch and economic slowdown decreased recovery in housing sales in India’s top 7 cities. The Macrotech […]

Housing Sales in Mumbai reached the highest level in the past 4 years.more

The Bengaluru CBDs became Asia Pacific best performing market, expected to grow more in 2020.

Despite slow economic growth and rental in the Central Business Districts (CBDs) of Bengaluru and Mumbai, the Indian Office Market will continue to be strong in 2020, while CBD rental growth is expected to remain steady in the National Capital Region (NCR), Knight Frank India said. The CBD of Bengaluru is expected to see more […]

The Bengaluru CBDs became Asia Pacific best performing market, expected to grow more in 2020.more

State Government to soon unite housing bodies to speed up affordable housing projects.

December 26, 2019

The Maharashtra Government plans to bring the various agencies responsible for affordable housing schemes under a single umbrella. Sources indicate that the Government is considering bringing the Slum Rehabilitation Authority (SRA), Maharashtra Housing and Area Development Authority (MHADA) and others to urban development services in order to streamline and speed up affordable housing projects. While […]

State Government to soon unite housing bodies to speed up affordable housing projects.more

Maharashtra RERA Rules in Place to Protect Homebuyers from May 1

MahaRERA issued recovery warrants of Rs 24 crore against Nirmal Developers.

December 24, 2019

Nearly 10 months after MahaRERA issued Rs 24 Crore recovery warrants against Nirmal Developers after they failed to repay 80 home buyers in Mulund for Nirmal Olympia project, the buyers’ money have yet to be refunded. Homebuyers are now stuck in the blame for the recovery battle between Tehsil officials (who conduct the recovery process) […]

MahaRERA issued recovery warrants of Rs 24 crore against Nirmal Developers.more

Prestige Estates approved a preferential issue of GIC investment worth Rs 430 crore.

Singapore’s GIC Sovereign Fund invests about Rs 430 crore in Prestige Estates by way of a preferential issue of equity shares. In a regulatory filing, Prestige said that the GIC investment company Gamnat Pte will procure the company’s 13.4 million Bengaluru equity shares at Rs 323.22 per share. The Gamnat preferential issue has already been […]

Prestige Estates approved a preferential issue of GIC investment worth Rs 430 crore.more

MMR realty stands at $8.7 billion under loan severe stress, that is 25% of the total loan advances.

December 23, 2019

About $8.7 billion, which constitutes 25%, is under severe strain at the moment from the sum of $35 billion loan advances offered to developers within the Mumbai Metropolitan Region (MMR). The ANAROCK property consultancy study showed that this is around twice the total loan stress in the National Capital Region (NCR) of $4.3 billion. The […]

MMR realty stands at $8.7 billion under loan severe stress, that is 25% of the total loan advances.more

DHFL administrator issued debt settlement- receives Rs 1.2 lakh crore claims from creditors.

December 21, 2019

The Dewan Housing Finance Corporation (DHFL) administrator allegedly issued total debt settlement demands of about Rs 1.2 lakh crore from creditors after the RBI referred debt settlement to the indebted Non-Banking Finance Company (NBFC). “The lenders have filed their claims including debenture holders, secured lenders and depositors. So far the amount is about Rs 1.2 […]

DHFL administrator issued debt settlement- receives Rs 1.2 lakh crore claims from creditors.more

Suntech Realty sells 125 houses in just 18 days of launch, generating Rs 200 cr of revenue.

December 19, 2019

Sunteck Realty, a real estate company, said on Wednesday that 125 out of 225 newly launched Mumbai apartments had been sold generating over Rs 200 crore. “Sunteck Realty launched its first-tower consisting 225 apartments in 4th SunteckCity Avenue with an overwhelming response, and in 18 days from launch (in less than three weeks) they already […]

Suntech Realty sells 125 houses in just 18 days of launch, generating Rs 200 cr of revenue.more