August 2024

Aug 09, 2024 08:20 AM IST Blackstone plans to sell 33 crore units in its REIT firm 'Nexus Select Trust' for nearly ₹4500 crore through a block deal on stock exchanges New Delhi, Aug 8 (PTI) Global investment firm Blackstone plans to sell 33 crore units in its REIT firm 'Nexus Select Trust' for nearly ₹4500 crore through a block deal on stock exchanges, according to sources....

The Greater Noida authority has sold five group housing plots to realtors, including Godrej, Dubai-based Sobha Limited and others, collecting a revenue of ₹1,500 crore, which is double the reserve price of these plots, said authority officials. The reserve price for these plots was in the range of ₹48,438 per square metre to ₹59,943 per square metre, said officials, adding that But...

Radisson Hotel Group on August 8 announced the signing of a 100-room Park Inn by Radisson on Chennai’s East Coast Road. This marks the debut of the Group’s Park Inn by Radisson brand in Chennai, the company said in a statement. Radisson Hotel Group on August 8 announced the signing of a 100-room Park Inn by Radisson on Chennai’s East Coast Road(Radisson Hotel Group) The facility will...

Bengaluru tops the list of 20 Asia Pacific cities with the highest flexible office stock at 15.5 mn sq ft in the APAC region, including Shanghai, Seoul and Tokyo. Delhi NCR ranks second in the city list with a total stock of 10.7 mn sq ft of flexible office space, a report by CBRE has said. Bengaluru tops flexible office stock in Asia Pacific region, Delhi-NCR on second spot (Representational...

An Indian family, who moved to Australia two years ago, is looking to return to their home country. One of the members took to Reddit to share their thoughts on why the family is considering Bengaluru as their choice of city as they relocate. Bengaluru, India's IT capital, is notorious for its traffic.(PTI) The family consists of the husband, wife and their child who is five. "I am...

In a major relief to property owners, the government on August 7 amended the long term capital gains tax provision on immovable properties giving homeowners the option to choose between a lower tax rate of 12.5% without indexation or a higher rate of 20% with indexation for properties acquired before July 23, 2024. Government allows flexibility in LTCG tax calculation: Here’s a look at which...

Gurugram district magistrate Nishant Kumar Yadav on Wednesday directed residents of another “unsafe” tower – Tower J – at Chintels Paradiso Society in Sector 109 to vacate their flats within 15 days, citing an IIT-Delhi audit report following a ceiling collapse in Tower D that resulted in the deaths of two women in 2022. On February 10, 2022, renovations at a sixth-floor flat of Tower D...

The Reserve Bank of India’s decision to keep repo rates unchanged at 6.5% for ninth consecutive time aligns well with the August 7 announcement on indexation benefits on sale of property. With interest rates staying steady, EMIs will remain manageable for current and potential homeowners, potentially leading to increased home sales particularly in the price-sensitive affordable segment, said real...

There is an ongoing debate in the Indian real estate market—is renting a house better than buying? An X post by an investor and a CEO’s reply to it has again sparked a discussion on that topic on social media. While the investor spoke about the benefits of renting a house, the CEO slammed him by saying that buying is always a better option. A CEO’s reply to an investor’s “middle...

The Lok Sabha on August 7 passed the Finance Bill 2024 and amended the long term capital gains tax provision on immovable properties giving taxpayers an option to switch to a new lower tax rate or stay with the old regime that had higher rate with indexation benefit. Union finance minister Nirmala Sitharaman speaks in the Lok Sabha during the Monsoon session of Parliament on August 7. (PTI...