Tag: #Mumbai news

DHFL under resolution process, declared to not make any payments to lenders and bondholders.

April 8, 2020

Dewan Housing Finance Corporation (DHFL) said on Tuesday it would not make any interest or principal payments to lenders and bondholders as the firm is under resolution process. The Corporate Insolvency Resolution Process (CIRP) was started against the debt-ridden corporation in compliance with the 2016 Insolvency and Bankruptcy Code regulations with effect from December 3, […]

DHFL under resolution process, declared to not make any payments to lenders and bondholders.more

COVID-19 effect: Maharashtra government declares an 8% reduction in electricity tariff.

April 3, 2020

On March 30th, the Maharashtra government declared an average 8 per cent reduction in the electricity tariff over the next five years to enable enterprises and citizens to sail through the COVID-19 crisis. Although the sector has earned the biggest gains, according to an official announcement, farmers would have to endure a 1 per cent […]

COVID-19 effect: Maharashtra government declares an 8% reduction in electricity tariff.more

Wadhwa Group receives Rs 300 crore investments from a Japenese company Marubeni Corporation.

April 1, 2020

Japanese institutional investor Marubeni Corporation has decided to invest Rs 300 crore into a 1 million sqft residential project ‘Atmosphere’ of real estate developer Wadhwa Group in Mumbai’s Mulund suburb. This is the maiden investment Marubeni has created in Indian real estate. In a statement, it said it would invest in the project by subscribing […]

Wadhwa Group receives Rs 300 crore investments from a Japenese company Marubeni Corporation.more

BMC Commissioner seeks to provide temporary shelters for the homeless labourers.

March 31, 2020

BMC commissioner Praveen Pardeshi has instructed building proposals department officials to locate recently built unoccupied buildings in their regions so that they can act as temporary shelters for homeless labourers and other emergencies. Civic officials said there were several such buildings in the city, so it was necessary to use the first few floors of […]

BMC Commissioner seeks to provide temporary shelters for the homeless labourers.more

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

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

March 27, 2020

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

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

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

JLL Report: Approx 30% of the Office buildings in the top three cities need refurbishment.

March 17, 2020

As per property consultancy JLL India, approximately 30% of office buildings in Mumbai, Delhi-NCR and Bengaluru are at least a decade old and require refurbishment that might cost over Rs 5,500 crore. The consultancy said in a report ‘Futureproofing 2.0 Upgrading commercial properties to build sustainable value’ after upgrading, rents might increase by up to […]

JLL Report: Approx 30% of the Office buildings in the top three cities need refurbishment.more

Tag: #Mumbai news

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