Daily Real Estate News Digest (21st Nov 2017)

 

 

 

 

 

 

 

 

 

GST, DeMon hurt city's realty market

GST & note-ban have not only created liquidity issues for the real estate sector but also impacted investment & development prospects of the cities. Mumbai drops from 2nd to 12th rank in list of preferred investment destinations for 2018 & it stands at the 8th slot in terms of development prospect.

Free Press Journal

Plot owner or soc not liable in case of default by builder

MahaRERA has rolled back a May 2017 order that had the effect of holding a housing society or plot owner responsible for violations of irregularities committed by the developer. 

Times of India

Home buyers accuse JP Associates of diverting funds from insolvent arm

Home buyers have claimed that JP Associates has diverted more than Rs. 10,000 cr from its subsidiary Jaypee Infratech, during the construction of the Yamuna Expressway & other realty projects. 

Economic Times

Lenders clear Rs.801 crore sale of Rcom realty assets

Lenders of debtridden Reliance Communications have approved the sale of its real estate assets in Delhi & Chennai for Rs. 801 cr to Brookfield. The proceeds will be used for retiring debts. RCom has been working on finding investors or buyers for prime real estate assets, including at Dhirubhai Ambani Knowledge City, Navi Mumbai measuring nearly 125 acres with the development rights of potentially over 17 million sq ft & prime property of 4 acre near connaught place, New Delhi.

Economic Times

Parle Agro Pvt Ltd buys 4 flats for Rs.168.49 crore

The most high value real estate acquisitions in the city in recent months, 4 flats for Rs. 168.49 cr measuring 2866 sq.mt. have been bought by Parle Agro Pvt Ltd. All the 4 flats are located in Worli's upcoming tower 'Three Sixty  West' Oberoi Realty. Each flat measures 716.5 sq.mt. & the cost Rs. 42.12 cr each.  

DNA

MHADA to invite bids for 5,000 new flats in Goregaon

By 2020, the city is likely to get the first tranche of 5,000 new affordable homes to be built in Goregaon by MHADA. MHADA will soon invite tenders to build these affordable homes on an 18-acre plot in Goregaon (west).   

Mumbai Mirror

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