Besides offering plenty of green spaces, some luxury home developers in the National Capital Region are installing centralised air purifier systems for fresh indoor air. DLF has installed TFAs (treated fresh air units) to improve indoor air quality in the developer’s latest residential offering in the luxury segment — The Camellias in DLF5’s.
The indirect tax department wants real estate developers, who were setting off taxes paid under earlier tax regime against the GST, to reverse the credit claimed as transition credit, said people in the know. Realty players hoped they would pass sales and indirect taxes to the customers and claimed this under the transition credit mechanism.
Amid a major slowdown in the real estate sector, the central government had on November 6 approved a Rs 25,000-crore stress fund to help complete over 1,600 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings across the country.
This is the fifth facility for the company in Pune and will be operational by 2021, the company said. It already has a portfolio of 6,000 seats in the city. According to reports, the second largest single- location deal in this space was struck by WeWorks which picked up 1.22 lakh sqft space in Pune.
"Dilip Buildcon has been awarded OB (over burden) removal contract mining work for Nigahi project at Singrauli district in the State of Madhya Pradesh valued at Rs 2,122.74 crore by the Northern Coalfields Ltd (NCL), a subsidiary of Coal India Ltd (CIL)," the company said in a filing to BSE.
This is the second transaction between Prestige and DB Realty. Last month, the Bengaluru- headquartered firm had entered in to a joint venture with DB Realty to develop a hospitality-led mixed use project spread over 7.7 acres land parcel in Delhi’s Aerocity. The Bandra located property is valuedat about Rs 2,100 crore.
Jaypee's Interim Resolution Professional (IRP) Anuj Jain had sought bids from NBCC and Suraksha Realty as per the direction of the Supreme Court. This is the third round of bidding process. Senior officials of the NBCC and Suraksha Realty made their presentations before the CoC and highlighted main features of their resolution plans to revive Jaypee.
Both NBCC and realty developers Suraksha Realty have submitted revised bids for Jaypee. While Suraksha Realty has upped its offer to Rs 7,900 crore to lenders and possession in 3 years to over 22,000 homebuyers, NBCC has offered lenders 1,426-acre land worth around Rs 5,000 crore and 50% of around 3,000 apartments that have no claimants.
Signature Global is mainly into development of affordable housing and has launched 12 such projects, comprising over 11,000 units, so far, under the Haryana Affordable Housing Policy. Two projects having 1,800 units have been handed over to buyers. The company has started two new projects 'Aspire' and ' Prime', which have in total about 1,450 units.
NBCC and Suraksha Realty are likely to submit their revised offers on Sunday as sought by Interim RP. A meeting of CoC has been convened on November 18 to discuss the resolution plans. Earlier, NBCC had offered 2,207 unsold flats worth Rs 1,756 crore to lenders, but bankers were reluctant to acquire these apartments.
India is one of the largest flexible workplace markets in the world. The consultant has estimated the global flexible workspace inventory at about 125 million sq ft, of which nearly 27 million sq ft is located in India. There are 1,000 operational coworking centres, with a capacity of over 4 lakh seats, across top 6 cities -- Delhi-NCR, Bengaluru, Mumbai, Pune, Hyderabad & Chennai.
“The terms for JDs (joint developments) are more favourable in the current market. Earlier we would buy large land parcels of 50 acres and build large projects, but now the focus is on smaller projects with quick turnaround,” said managing director Ram Walase.
The Supreme Court-appointed receiver has given a list of eight projects having 9,306 flats to NBCC India in order to proceed with the tenders of Amrapali Group. The cost of the current package, including towards project management consultancy and GST, is about Rs 570 crore. The projects are Zodiac, Sapphire One and Two, Centurian Park amongst others.
Earlier this month, the government approved a Rs 25,000 crore fund to help complete over 1,600 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings in a bid to boost growth by steering consumption in real estate and associated sectors.
With most cases in the National Company Law Tribunal pertaining to real estate, several projects have been stalled and developers and the industry body have called for changes in the law. According to the Confederation of Real Estate Developers Association of India, 65% of the cases in the NCLT are related to real estate projects.