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Law tribunal takes over rundown Bhandup mall

Law tribunal takes over rundown Bhandup mall

In a blow to prominent developer HDIL, the National Company Law Tribunal (NCLT) has appointed an Administrator to independently run Dreams Mall in Bhandup after a HDIL subsidiary failed to pay property taxes, water and electricity charges for a prolonged period. Located close to Bhandup railway station, and at a prominent location on LBS Road, […]

NA plot developer booked for cheating home buyers

NA plot developer booked for cheating home buyers

Nearly 23 years after he floated the scheme of river-facing Non-Agricultural (NA) plots in the picturesque Malavli in Maval tehsil close to Pune, a Borivali-based land developer has been booked on charges of cheating and criminal breach of trust by Pune rural police for allegedly defrauding second home buyers from Mumbai and Pune. The FIR […]

15 years on, tenants have a shot at getting homes back

15 years on, tenants have a shot at getting homes back

After initially losing the plot, the tenants of a building in IC Colony in Borivali finally have a shot at getting back the homes they vacated more than 15 years ago apparently for “repairs”. Small Causes Court Judge KV More last week granted six tenants of Xavier Building a relief by restraining their landlord Michael […]

ICICI Bank brings instant home loan disbursals

ICICI Bank brings instant home loan disbursals

HIGHLIGHTS The bank has also grown the number of its mortgage sourcing offices by 50% to 1,500 in FY19 in a bid to achieve its target of Rs 2 lakh crore home loan portfolio by March 2020 ICICI Bank’s home loan portfolio at Rs 1.7 lakh crore has grown 19% year-on-year as on December 31, […]

If home project delayed, builder to lose right over it

If home project delayed, builder to lose right over it

The state’s real estate watchdog, MahaRERA, on Thursday issued a standard operating procedure (SOP) to allow home buyers to remove a developer in a delayed project, which will then be given to an expert panel to help complete it. The authority clarified it can take act only in non-litigated cases. “It will help finish all […]

Embassy no. 2 realty co on REIT debut

Embassy no. 2 realty co on REIT debut

Mumbai: The Embassy Office Parks REIT, India’s first share sale in a property collection under one operator, Monday became the country’s second-most valuable realestate company on its stock-market debut, highlighting the potential of an investment product that already finds favour with the uberrich in New York, Singapore or London. After gaining as much as 8 […]

ICICI Bank cuts MCLR by 5 bps across tenors

ICICI Bank cuts MCLR by 5 bps across tenors

The Reserve Bank, in its bimonthly policy review in February, had cut the key repo rate by 25 bps to 6.25 per cent. ICICI Bank Monday cut the marginal cost of funds based lending rate (MCLR) across tenors by five basis points (bps) ahead of the Reserve Bank of India’s monetary policy meeting later this […]

Embassy Office Parks REIT surges nearly 5% in debut trade

Embassy Office Parks REIT surges nearly 5% in debut trade

After the utilisation of the IPO proceeds, its total debt is expected to be less than 15% of market value, HDFC Securities said in a note on March 16. The stock of Embassy Office Parks REIT ended more than 4% higher in debut trade on the NSE on Monday against its issue price of `300. […]