Homes up to 30 sq metres in metro cities and 60 sq metres in other cities which fall in the affordable segment make up for 90% of the demand for houses in India. Several announcements in the Budget 2016 are likely to stimulate growth in demand for affordable housing. Real estate experts say the exemption […]
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March 1, 2016 6:00 pm
Blackstone group to invest Rs. 450 cr in commercial real estate in Hyderabad
In a pure equity transaction, the world’s biggest private equity player in real estate, Blackstone Group, is at an advanced level of talks with Salarpuria Sattva Group to pump in nearly Rs 450 crore in its 30-acre commercial property coming up in Knowledge City, Hyderabad. After being one of the most active buyers of commercial […]
March 1, 2016 10:30 am
Property dealer shot dead in Nashik
A 35-year old property dealer was allegedly killed by three persons, as reported by Nashik police. Sanjay Sanap, Inspector with Nashik Crime Branch said in a release that On February 17, the victim Ranjit Mangawana was shot dead at the Artillery Centre Road in Nashik at around 1 AM. The three accused Vinod Salve, Sanjay […]
February 29, 2016 6:00 pm
Mallya lands a property deal in addition to Rs.515 crore from Diageo for leaving USL
The United Spirits Ltd. (USL) deal with Diageo has really raised the flagging spirits of Vijay Mallya. For stepping down as Chairman of USL, Mallya has not only bagged $75 million (Rs.515 crore) but also a soothing property deal. The deal allows Mallya or his nominee to purchase 13 residential, non-core properties of India’s biggest […]
February 29, 2016 1:30 pm
Can Budget 2016 provide relief for home loan buyers?
Home loans for purchase or construction of a house provides few income tax benefits to the borrowers. Currently, there is an income tax benefit for the interest payments and principal amount on home loans. However, it is felt that few existing provisions are a tad unfair, which can be addressed by the finance minister […]
February 27, 2016 6:00 pm
Launch of 2nd real estate fund by Essel Finance
Essel Financial Advisors and Managers (EFAM), the private equity arm of Essel Finance, launched its second real estate fund with a target of raising upto Rs.250 crore. The real estate fund will be invested in various residential projects across cities such as Delhi NCR, Mumbai, Chennai, Bengaluru and Pune. In a statement, the company has […]
February 27, 2016 10:00 am
Commercial Assets worth Rs.1500 crore to be sold by Godrej Properties
In September 2015, Godrej Properties, the real estate arm of the Godrej group, sold 4.35 lakh sq ft office space at Bandra-Kurla Complex in Mumbai for an excellent valuation of Rs.1479 crore. In keeping with this buoyant mood, the realty firm is targeting a sales revenue of Rs.1500 crore this year through monetisation of other […]
February 26, 2016 6:00 pm
Home buyers lose 85% of tax benefit on delayed possession
Did you know that a tax deduction of Rs 2 lakh annually is permissible against payment of interest on home loans, if the house is acquired within three years of taking the loan? and, if the possession takes place after three years, the exemption reduces to a mere Rs 30,000 a year — a drop […]
February 26, 2016 10:00 am
ICICI Bank takes over 275 acres from Jaiprakash Associates
In order to reduce the bank’s exposure to the company and also lessen JAL’s debt servicing obligation to a more manageable level, ICICI took over about 275 acres, worth an estimated Rs 1,500-1,800 crore from the flagship company of the Jaypee Group, Jaiprakash Associates Ltd. In Noida & Greater Noida. At the end of March […]
February 25, 2016 6:00 pm
Centre hints at making Aadhaar compulsory for property registration
To identify property owners and closely monitor the money entering the real estate industry, the Union government is contemplating on making Aadhaar, the identification issued by the Unique Identification Authority of India (UIDAI) mandatory for property registrations. Troubled by the large number of fraudulent transactions and investments worth crores happening in the realty sector, the […]