Daily Real Estate News Digest (11th July 2019)

Now, no stamp duty on land transfer to development agencies in Maharashtra

Land owners who transfer their land to development authorities, including Mumbai Metropolitan Region Development Authority (MMRDA), for 'public good' will no longer be required to pay stamp duty on the transfer.

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Dharavi residents demand quick decision on redevelopment from Maharashtra CM.

The residents have stood by Seclink, the company which is supposed to get the bid and told the government not to waste time in seeking legal opinion due to which the decision has been delayed.

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Mumbai: Bungalow belonging to Parsi trust up for sale, may fetch crores.

A dilapidated, early 20th century bungalow property belonging to a Parsi trust in the prime sea-facing Bandra Bandstand area is on sale and could fetch a couple of hundred crores given its location. 

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SC dismisses RLDA plea against arbitral award of Rs 1,034 crore to Parsvnath.

Parsvnath Rail Land Project Pvt Ltd (PRLPPL), a special purpose vehicle (SPV) created to develop this project, had gone into the arbitration process to settle the issue.

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Ajmera Realty announces joint development of commercial units.

It will be a joint development on revenue sharing basis in Ghatkopar on a plot size of 5,310 sq.mt, which has a potential to develop approximately 9,000 sq.ft of saleable area which may generate revenue of approximately Rs.120 crores for the company.


Mumbai: Abhyudaya Nagar realty push now back on track.

Socities give the developer time till end-July to meet certain commitments and proceed with the redevelopment. The builder is Keystone Realtors (Rustomjee).


Icra downgrades NCDs of Piramal Realty.

Rating agency Icra has downgraded the long-term rating assigned to non-convertible debentures (NCDs) of Piramal Realty to ICRA A+(SO) from ICRA AA-(SO), amounting to Rs 350 crore.


New Delhi's Connaught Place ninth costliest office market globally: Report.

Mumbai’s Bandra-Kurla Complex (BKC) and Nariman Point Central Business District ranked at 27th and 40th positions, respectively, showed CBRE’s annual Global Prime Office Occupancy Costs survey. 

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