By Abhay Shah, Realty Quarter The real estate investment trust (REIT) created by Piramal Fund Management said its tenure will be extended by one year, delaying exits, due to six projects worth about Rs 562 crore getting stuck. Scheme V of the Indiareit fund started in 2013 with a primary term of six-years, which can be extended […]
Piramal Real Estate Fund aims for an extension of one year.more
By Abhay Shah, Realty Quarter Raheja Developers, a Delhi-based builder, is in a situation of insolvency as per Section 9 of the Insolvency and Bankruptcy Code 2016, which has been ordered by the National Company Law Appellate Tribunal (NCLAT) to acknowledge the case. In a complaint lodged by an operational creditor, Ahluwalia Contracts (India), the appellate tribunal […]
Raheja Developers failed to make the payment, faces insolvency proceedings.more
By Abhay Shah, Realty Quarter The landmark verdict of the Supreme Court on Amrapali developers lifted the hopes of house buyers who are futilely waiting for their houses to be delivered. While similar developments are waiting for about other stuck projects, the Apex Court has established a precedent with a resounding message – compliance or […]
Around 220 projects in top 7 cities with 1.74 lakh homes are stalled: Latest Report.more
By Abhay Shah, Realty Quarter Real estate investment, particularly in residential properties, is very popular with investors. However, there are far more benefits and opportunities available for investment in commercial spaces than residential properties. Commercial properties rental yields: Commercial and residential properties characteristics are dynamically very distinct. Investors usually trade a commercial property on a return basis. […]
Things to know to generate best return from a Commercial Property Investment.more
By Abhay Shah, Realty Quarter The Ministry of Finance on Monday has announced that the owners of the apartment will pay 18% GST if the maintenance costs paid to the resident welfare association (RWA) exceed Rs 7,500 a month. “A waiver was accessible until 25 January 2018 when contribution charges or share were not higher than Rs […]
18% GST is applicable for flat owners whose maintenance charges exceed Rs 7,500 per month.more
By Abhay Shah, Realty Quarter In the last few years, North Mumbai has seen fast growth. Infrastructure has been pivotal in promoting the real estate sector’s growth. The necessary push by the state government to develop infrastructure contributed the North Mumbai for becoming a place where real estate operations would take place. Enhanced connectivity to different parts of Mumbai, […]
Demand for affordable housing in North Mumbai is increasing.more
By Abhay Shah, Realty Quarter In the Mumbai Metropolitan Region, the Maharashtra cabinet sent out the green signal to three new Metro lines which would be finished by 2026. A declaration from the CMO (chief minister’s office) stated that the Mumbai Metropolitan Region Development Authority (MMRDA) would construct the three projects. The Gaimukh-Shivaji Chowk 9.2 km long Mira Road route […]
MMRDA receives approval to construct 3 new metro lines in Mumbai.more
By Abhay Shah, Realty Quarter On Tuesday, the Supreme Court told the state to take hard measures against erroneous developers, cancel their lease deeds on illegal situations, and maintains the delivery of projects within a time frame and gave an instance of Major Amrapali’s distressed real estate for siphoning off thousands of hard-earned house owners money. The […]
Supreme Court cancels the registration of Amrapali and nominates NBCC for project completion.more
By Abhay Shah, Realty Quarter Top property developers in Mumbai have requested the state government, to cut premium charges, which it has to pay under various heads, mentioning the liquidity crunch. Developers seek to decrease charges linked to open space deficits premium, staircase, lift and lobby charges, among other taxes. After a discussion on Thursday […]
Developers of Mumbai requested the State Government to reduce premium charges.more
By Abhay Shah, Realty Quarter On Monday, MTNL was hit by a huge fire that left 84 individuals trapped on the terrace of the 9-storey construction, all were saved by fire departments, an official said. He said that a fireman, Sagar Salve (25), breathed smoke during the firefighting procedure for which he was admitted to […]
84 individuals were rescued from a fire accident occurred in Bandra MTNL building.more
