Category: Mumbai

PE investment in real estate has received Rs 39,182 cr in the first 3 quarters of 2019.

November 1, 2019

The interest of private equity firms in Indian real estate continues undiminished, with investment in the sector rising to Rs 39,182 crore in the first three quarters of 2019, up 19% from the previous year. They have infused over 83.5% of these funds as equity capital, which reflects an appetite for Indian real estate industry. Private equity […]

PE investment in real estate has received Rs 39,182 cr in the first 3 quarters of 2019.more

Goregaon-Mulund link road project gets on hold as NBWL demands environmental impact report.

One of Brihanmumbai Municipal Corporation (BMC)’s most ambitious projects the Goregaon-Mulund Link Road (GMLR), has reached a roadblock with a report from the National Board for Wildlife (NBWL) seeking a municipal government to conduct an environmental impact assessment before, during and after the project’s completion. In February of this year, the NBWL had settled the GMLR […]

Goregaon-Mulund link road project gets on hold as NBWL demands environmental impact report.more

NESCO provides 6 lakh sqft office space in Mumbai to various firms.

October 31, 2019

The diversified business Nesco Ltd has given companies like HERE Technologies and IndiaFirst Life Insurance with over 6 lakh sqft prime offices in Mumbai. Nesco Ltd has built ‘Nesco Tower-4’ which comprises one million sq ft of leasable area in Goregaon East, Mumbai, with an investment of about Rs 600 crores, except land cost. Nesco Ltd […]

NESCO provides 6 lakh sqft office space in Mumbai to various firms.more

Ten Bungalows at Malad West have been allegedly marked under Slum Rehabilitation Authority Scheme.

October 30, 2019

In Malad West at Orlem, owners of almost 10 bungalows, claiming they live there for decades, were allegedly told a member of a neighbouring colony of sweepers to incorporate them without their knowledge in a Slum Rehabilitation Authority (SRA) scheme. The 10 bungalows in D’Monte Lane received notifications of demolition after their owners were considered as […]

Ten Bungalows at Malad West have been allegedly marked under Slum Rehabilitation Authority Scheme.more

A society which has taken on the redevelopment under RERA is not liable for free sale flats.

The High Court of Bombay said that a housing society that terminated their redevelopment agreement with a developer due to delay and then took over redevelopment through judicial decisions cannot be held liable, under RERA, as a ‘promoter’ for buyers that have reserved free sale flat. Justice S C Gupte nullified an order from the City Court […]

A society which has taken on the redevelopment under RERA is not liable for free sale flats.more

GVK receives more than Rs 7,600 crore from its investors, plans to cut off the company’s debts.

October 29, 2019

The GVK Group has announced that it has raised more than Rs 7,600 crore from its stakeholders’ and the proceeds will be used for debt reduction and acquisition of 23.5% stake in the Mumbai International Airport (MIAL). This should prevent the bid of the Adani Group to acquire a stake in the company which operates […]

GVK receives more than Rs 7,600 crore from its investors, plans to cut off the company’s debts.more

Real Estate Websites have to register with MahaRERA in next 2 months.

October 18, 2019

Property Websites that go beyond advertisements and allow developers and home buyers to sell/purchase must be registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA) within the next two months. The housing authorities have determined that such websites could be defined as real estate agents. In a recent order, the regulatory officer has indicated that portals […]

Real Estate Websites have to register with MahaRERA in next 2 months.more

Supreme Court rejects depositors’ plea for increasing withdrawals limit on PMC bank.

On 18 October 2019, the Supreme Court refused to entertain a plea filed on behalf of scam-hit bank account holders Punjab and Maharashtra Cooperative (PMC), seeking to lift restrictions imposed on cash withdrawals by the Reserve Bank of India (RBI). The petitioner Bejon Kumar Mishra told the lawyer Shashank Sudhi to file his petition on […]

Supreme Court rejects depositors’ plea for increasing withdrawals limit on PMC bank.more

IOB will e-auction more than 500 properties spread across different cities.

October 17, 2019

More than 500 properties worth over Rs 800 crore located in Chennai, Coimbatore, Mumbai, Kolkata, Delhi, Bengaluru and Hyderabad will be sold through digital auction by the public sector bank India Overseas Bank (IOB). On 21 October 2019 and 30 October 2019, the mega e-auction will take place. For the e-auction, the public sector bank has associated with […]

IOB will e-auction more than 500 properties spread across different cities.more

UIDAI approach to link property with Aadhaar number to prevent black money, Delhi HC seeks clarification.

October 16, 2019

On October 15, the Delhi High Court sought the Unique Identification Authority of India (UIDAI) response on the demand to link movable and immovable property documents with the Aadhaar number to prevent corruption, black money and benami transactions. UIDAI, which issues a 12-digit unique identification number called Adhaar, received a notice from a bench of […]

UIDAI approach to link property with Aadhaar number to prevent black money, Delhi HC seeks clarification.more