This is what it will cost you to be neighbors with Sara Ali Khan, Arjun Kapoor and Shatrughan Sinha

Sara Ali Khan, Arjun Kapoor, and Shatrughan Sinha— three Bollywood actors– might soon have new neighbors. A public notice to sell their properties has been served to the owners of Indus Projects Limited and the Union Bank of India for failing to pay. The prime property going up for auction has a reserve price of Rs 104.11 crore. 

Sara Ali Khan, Arjun Kapoor, Shatrughan Sinha, and his family are among the Bollywood celebrities who live in the same neighborhood as the building. 

The notice states that the bank plans to hold an auction for the promoters’ nine-story residential building. Located in Mumbai’s Juhu Vile Parle Development (JVPD), Kapolei Society in Vile Parle West, the building consists of seven 4BHK  apartments and a duplex. 

The nine-story residential property is situated in Nutan Laxmi CHS Ltd. According to the bank notice shared by Kecta, a platform that markets repossessed properties up for auction by banks and financial institutions, the plot is 800 square yards and is located in the Nutan Laxmi Co-operative Housing Society Ltd., North South Road, JVPD Scheme, Vile Parle (West), Mumbai. 

The building is owned by Indus Projects Limited, a public company established in 1997. The notice listed Kishor Mehta, Abhai Mehtax, Mahavir Mehta, Madhur Mehta, and Indus Mechanical Engineering Company Private Limited as bank debtors. 

The entire amount owed is approximately Rs 90.46 crore. According to the notice, the owners owe State Bank of India Rs 18.60 crore plus interest at the applicable rate, costs, dues, and expenses that may accrue from April 23 until the full repayment and settlement of dues. 

They also owe the Union Bank of India approximately Rs 71.85 crore plus interest at the applicable rate, costs, dues, and expenses. 

Under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) of 2022, the Union Bank of India is holding an auction for the bungalow. 

According to Section 13(4) of the Act and Rule 8 of the Security Interest (Enforcement) Rules, 2002, the Authorized Officer has taken possession of the immovable secured assets because you did not comply with the notice within the allotted time. 

The notice stated, “The immovable secured assets that the bank’s authorized officer has taken possession of will be sold by holding a public E-auction on June 20, 2024, by inviting bids from the public online on, since the owners have failed to clear the dues of the secured creditor.” 

There is a 25% off the list price on this offer. The entire transaction is cashless, and payment must be made through banking channels within 15 days of the auction date, according to Hecta’s founder and CEO, Sridhar Samudrala. 

These are premium location ready-to-occupy floors that are ready to be owned. We hardly ever have access to such upscale properties, much less at a discount,” he continues. 

Do you want to purchase a home at a bank auction? This is important for you to know. 

Since banks only auction these properties when a loan borrower misses several payments, most of these real estate assets are offered below market value. The lender uses the auction to recoup the principal and interest balance owed for the loan. 

Potential buyers of real estate at a bank auction should verify the property’s details, especially its legal specifications, before bidding. 

Buyers are cautioned that expenses such as maintenance, property taxes, and electricity which are the buyer’s responsibility are not included in the reserve price listed. 

The prospective buyer should also confirm whether the bank that promoted the sale took physical possession of the property after completing the necessary legal processes. 

According to a legal expert, these properties are sold on an “as is where is,” “whatever is there is,” or “no recourse basis,” which means that the buyer must review the inclusions and exclusions and cannot back out of the agreement after the auction ends (unless there are extraordinary legal circumstances). 

According to a legal expert, purchasers of apartments or bungalows up for auction should ascertain whether the properties are subject to any liabilities. 

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Wish you a very Happy & Prosperous Diwali – 2023

Story Behind Jaypee’s Failure

Shri. Jaiprakash Gaur, the founder of Jaypee Group, had a single-minded focus after graduating from IIT Roorkee with a diploma in civil engineering. He decided to contribute to nation-building by branching off as a civil contractor in 1958 and founded Jaypee Group. The Group’s business interests include engineering and construction, cement, power, real estate, expressways, fertilizer, hospitality, healthcare, sports, and information technology. This article covers the story behind Jaypee’s failure. How did Jaypee start, what all the good things it did, what exactly went wrong, and what is the future now? One thing is for sure, if everything would have gone well, Jaypee would have completely changed the situation in Noida. It could have become the DLF of Noida. But could not. More than 20000 buyers are still struggling to get the homes of their dreams. Let us look at the story behind the making of Jaypee.

Work done by Jaypee:

Jaypee Infratech was founded in 2007 and it is the part of the Jaypee Group. So, let’s look at some of the successful works done by Jaypee Infratech.

1. Yamuna Expressway project:

The Group entered into the construction of expressways with a 165 km access controlled 6 lane super expressway along the Yamuna River connecting Greater Noida and Agra. You would know how well-developed the Yamuna expressway is if you have been to it. It has become a big boon for Noida. Jaypee has also built the Zirakpur-Parwanoo Himalayan Expressway. 

2. Jaypee’s Hotels and Resorts:

In New Delhi, Uttar Pradesh, and Uttarakhand, the hospitality division of the Group owns and manages five hotels. 

3. Jaypee’s Hospital:

The Jaypee Hospital is well-developed and offers excellent health facilities. The hospital is now commissioning 525 beds in the first phase of its intended 1200-bedded tertiary care multi-specialty complex.

4. Jaypee’s F1 Sports:

The Group hosted the inaugural Formula One Grand Prix of India on October 30, 2011. The track is anticipated to hold more top-tier international racing competitions in addition to F1. Though this was unsuccessful as F1 races did not succeed in India. 

5. Jaypee’s Real Estate:

The first real estate project of the group, Jaypee Greens Greater Noida, covers 452 acres. This distinguished municipality includes an 18-hole Greg Norman golf course, upscale homes, shopping centers, etc. 

India’s First Wish Town, a premier township featuring an 18 + 9 Hole golf course, world-class residences, commercial developments, numerous entertainment amenities, and acres of greenery, was Jaypee Greens’ second project when it was unveiled in Noida in November 2007. The group then started construction on Jaypee Greens Sports City and Jaypee Greens Wish Town Agra, two townships along the Yamuna Expressway and Jewar International Airport, which is scheduled to open soon, and is a 20-minute drive from the city center. 

But destiny was against Jaypee’s prosperity, and Jaypee’s fantasy township became a failure. So let’s talk about this township’s swindling and how many house buyers lost their dream homes.

Jaypee’s Failure in Real Estate:

Who doesn’t want to be the owner of their own home? All of us do. Not just any house, either. A perfect home must be spacious, well-connected to the rest of the city, have a room with a view, and have the best amenities. However, it has been more than 12 years since thousands of Jaypee Infratech Limited (JIL) home buyers in Noida were victims of the mother of all real estate failures in India. The long-drawn legal battles are ongoing, leaving more than 20,000 Jaypee home seekers running from pillar to post and many giving up.

Jaypee got the land of the wish town in return for building the Noida expressway for Rs 400 crores. The company launched 32000 flats, still, 70% of apartments are in the under-construction stage. This project did not show any signs of readiness for the completion date. Around 90% of buyers made their payment, but it was still claimed that progress has been made on this project, although there was nothing to show for it.

A total of 18,767 people paid a total of Rs.8,676 crores to the company. 1410 people received possession worth 528 crores with no registrations. 413 people canceled their booking and their refund of Rs 64 crores is still pending.

Reasons for the failure:

 The reason behind the Real estate failure of Jaypee are:

  1. Jaypee group took the money that buyers had paid for homes and invested it in other projects.
  2. The company invested the money in other businesses.
  3. The government changed at that time.

 Future of Jaypee’s Failure:

After a super-lengthy resolution process, Mumbai-based Suraksha realty group got the approval of financial creditors and home buyers to take over the company in June 2021. Furthermore, in its offer, Suraksha promised to deliver all Jaiprakash Associates’ pending housing units within 42 months. It has offered to pay Rs 125 crore upfront and infuse Rs 3,000 crore within 90 days for completing the stalled projects. It will also put Rs 300 crore receivable from Jaiprakash Associates for completing the pending housing unit. Since Jaypee was an extraordinary case, the finalization of the bids is pending before NCLT for more than 17 months for approval. After the approval, the 20,000 home buyers who have been waiting for their units in various housing projects of Jaypee can finally breathe a sigh of relief.

How to save tax on property – For sellers

When selling a property, sellers want to know how much tax they’ll pay and whether there is any way to reduce or avoid the tax. The article below focuses on capital gains tax for sellers who are selling a property.

A self-occupied house gives you two avenues of saving taxes which are the payment of interest and repayment of principal. You can get Rs 2 lakh deduction under section 24b of the Income-tax Act, 1961 on interest payment and Rs 1.5 lakh on principal repayment under section 80C.

What is a Capital asset?

Capital assets include land, buildings, jewelry, vehicles, trademarks, machinery, patents, and licenses. When a capital asset is sold and any profit is received, it is known as capital gains. Agricultural land is not a capital asset.

Capital gains tax on residential property for sellers:

To understand capital gains, let’s consider an example. Regarding residential property, there are two types of capital gains tax: long-term capital gain and short-term capital gain. We will now discuss these two taxes.

  1. LTCG (LONG-TERM CAPITAL GAINS)- If you hold a property for more than 24 months, you pay a flat rate of 20% tax on any capital gains. Exemptions are available in this.
  2. STCG (SHORT-TERM CAPITAL GAINS)- If you hold the property for less than 24 months, you will be charged short-term capital gains tax. The government taxes the individual at their slab rate of income tax. If you are in the 30% bracket, then STCG will be 30%. You do not receive any benefits for indexation (i.e., inflation). The amount for which you purchased the property and sold it, the difference will be taxed.

The following chart illustrates and differentiates between long-term capital gains and short-term capital gains.

CAPITAL GAINS ON RESIDENTIAL PROPERTY                STCG                         LTCG
TIMELess than 24 months(2 years)        More than 24 months (2 years)
TAX@Slab       Flat rate 20%

Capital gain tax exemption:

Furthermore, we will discuss three ways in which you can save on long-term capital gains tax when selling residential property and other assets.

  1. SECTION 54- Under section 54, individuals and Hindu undivided families (HUF) can claim tax benefits on residential property they own. The minimum holding period is two years. It is important to note that only residential properties qualify for this section; commercial properties do not qualify. Next, the residential property must be a constructed property that you are selling. If you are selling the residential plot, then you will not get any benefit from it. If you invest the profits received from the proceeds in the purchase of 1 or 2 residential properties or the construction of another property, you will get a complete exemption from long-term capital gains tax.
    1. The capital gains from selling the property must be put in a new property which can be purchased within 1 year of the sale or within 2 years of the sale, in order to claim tax exemption. Similarly, if you are constructing a property, then for the forthcoming 3 years, if construction is completed, tax exemption will be available for you. Here, you only need to invest the number of capital gains i.e. profits; you do not have to invest the entire amount.
    2. FOR EXAMPLE: Twenty years ago you purchased a residential property for Rs 60 lakhs. And now sold it for Rs 90 lakhs. So 30 lakhs is a long-term capital gain (LTCG). Invest this 30 lakhs in 1 or 2 properties or some construction work; you don’t need to invest the entire 90 lakhs. The maximum capital gain which you can claim is up to Rs 2 crores. This exemption can be claimed once in a lifetime and will be reversed if you sell this new property within 3 years from its purchase date. If you invest this amount into bank fixed deposits or a savings account, this cannot be claimed as an income tax exemption. Banks offer a capital gains account scheme if you wish to claim the tax exemption.
  2. SECTION 54EC- Any individual can open a capital gains account. Any asset like; stocks, mutual funds, bonds, and house property may be used as collateral for this type of account. A 3-year holding period is required, with the ability to invest within 6 months. The maximum amount that can be supported is 50 lakhs, but all must be invested in specified bonds with a 5-year lock-in period. These bonds offer good returns on investment and are available only through this type of account.
  3. SECTION 54F- Now, finally, we come to Section 54F. In this section, any individual or Hindu Undivided Family (HUF) can claim tax exemption on capital assets other than a house property. Such assets include bonds, stocks, commercial property, and plots. The person taking the exemption shall not hold more than one house property. To acquire the asset’s value, you must buy residential property or construct it. This section does not cover any plots. The time limit for claiming tax exemption is 1 year back or 2 years forward if you purchase a property; construction is forward 3 years.

There are some other conditions under SECTION 54F and i.e.;

  1. The entire sale proceeds must be invested. Invest the entire 90 lakhs and not a partial amount or capital gains on which you can claim full exemption. You can only claim a partial exemption if part of the money is invested.
  2. If you sell this new property within three years of its purchase, the exemption will be reversed.
  3. If you want to claim the capital gains tax exemption, invest in a capital gains account. You cannot claim this exemption on a savings account.

All you need to know about the sale deed

What are the steps in the process of buying a property?

Let’s first discuss the steps in buying a property. When purchasing a property, the first step is negotiating the price with the seller. To confirm the booking, you must pay an advance to the seller. A builder must first pay a 10% deposit and sign a booking form before purchasing a property. After the buyer and seller agree on terms, they sign a contract that includes a time period for payment (generally two to three months). But this is not a sale deed. It’s important to note the information, facts and details in a sale deed and here’s everything you need to know.

A sale is completed when the seller transfers ownership rights to the buyer. The deed of sale is drawn up and registered with a specific state authority, making it valid.

How is a Sale Deed Executed? – RoofandFloor Blog

What is Sale deed?

The deed of sale is a legal and final document transferring ownership of a property. It describes the terms of the sale and is signed by both the buyer and the seller. Depending on its purpose, a contract of sale may also be called a contract of sale or a contract of sale mortgage. A bill of sale is governed by the common law, the Contracts Act, the Transfer of Property Act, etc. It uses certain terms that are standard across all jurisdictions, but certain details relate more specifically to the Indian context such as consideration (usually the same as the amount paid).

Benefits of Sale deed:

  1. Protects Parties – A well drafted deed protects both the buyer and the seller by preventing ambiguity and minimizing legal risks.
  2. Defines The Area – Buyers find it helpful to specify the square footage and locations of properties on paper.
  3. A sale deed is a legal document that concludes a sale. It is enforceable by law.

Clauses / Elements in the Sale deed you should know:

The sale deed includes the following details:

  1. Details of the party – The details of the party include the names, ages, and addresses for both buyers and sellers.
  2. Details of the property The location of the property, a description of the property, and construction details.
  3. Payment details – Payment details will show you the price of your property. It also lists the payment mode like a credit card (Visa, MasterCard, Discover) or direct transfer from a bank account.
  4. Handing over the original papers of the property and the possession details.
  5. No dues on the property – On the property, no dues, such as loans, tax, liability, and other dues.
  6. Indemnity clause –  An indemnity clause in a sale deed provides protection for the buyer’s interests. It is important to draft the document with care to avoid future disputes. Indemnity clauses under the sale deed seek compensation if there are any losses or expenses in the future.

What is the process for executing a Sale deed?

  1. Draft sale deed – To execute a sale deed, you need to first draft a sale deed. This document records all of the property owner’s rights, duties, and interests in the property. This includes encumbrances, liens, loans, taxes, mortgages and deeds for neighboring properties if they do not belong to the same legal entity.
  2. Pay Stamp Duty – Stamp duty is a tax paid to the Indian government on the sale of real estate. It is usually paid by the buyer and varies from state to state. For more details see our detailed video on stamp duty.
  3. Signed – Both buyer and seller must sign the sales deed. This document ensures that they have both agreed to the terms of the sale transaction. The deed must be registered within four months of the date it was signed in order to be valid.
  4. Registered – A sale deed serves as both proof of ownership and an essential legal document required for taxation purposes. It is an affidavit signed by both the seller and buyer. This is submitted to the revenue department when registering property under several tax laws. It must be registered within 4 months of signing the document. If this deadline is exceeded, you risk losing your right to purchase the property.
  5. The seller gives the original documents – The seller delivers the original documents and the buyer pays to execute the sale deed.

The following are the important, procedural, and legal terms you should know about sale deed if you are planning to sell your house.

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* Offers cannot be combined with other offers or discounts. T&C apply. - Diwali Offer 2022

7 Important Tips to consider before buying a flat in Pune


Ready to buy a home? Here are 5 factors to consider before buying a flat in Pune.

Investing in a new apartment is one of the most important decisions you’ll ever make. Before buying a property, it is important to analyze it from different points of view. After all, no one invests in real estate every other day. Some of the most important factors to consider when buying a new apartment or house are location, price, and ownership.

A wise and thoughtful decision will make your life easier, calmer and happier. This post is applicable to any metropolitan cities in India, such as Hyderabad, Chennai, Mumbai, Bangalore or Kochi. Here is a comprehensive checklist that you can go through before investing your hard earned money in an apartment, store or office.

Factors to consider before buying a flat in Pune


The location of the house is of great importance. To find a good location, it is best to assess your family’s needs for at least the next 20 years. Check out for good schools and colleges and hospitals in the area and connectivity to them. Also, do not neglect the need for a shopping mall or supermarket. One does not always want shopping trips to feel like long journeys. In addition, the presence of excellent medical facilities and public services such as parks, metro stations, etc. increases the value of the property. Pune has several areas with excellent transport links where you can find everything you need.

Also read:- Best area to live in Pune

Property Price:-

The first step in selecting an apartment is to finalize the budget. It is easier to choose an apartment if you know how much you are willing to spend on it. Compare the price of the property in question with prices from different developers to make sure that the developer actually offered you the best price. There are many ways to compare properties in your area of ​​interest. Such sources are lists of portals, local brokers or lists of newspapers.

Access and connectivity:-

Take a test drive from the project to your office or workplace and measure the time required. If by train, check how long it takes to get to the station and whether there is transport to and from the station. Before buying a flat in Pune check for upcoming infrastructure projects will improve the connectivity to the project.

Possession date:-

Think about when you would like to take possession of an apartment. An under construction property can be cheaper than a property that is ready to move in. It also allow you to pay only a temporary EMI while the project is under construction instead of a full EMI.


The safety of neighbors and relatives is an aspect that should not be overlooked when planning a move. If you are planning to buy a home in a metropolitan area, simply check the security systems such as the number of security guards on duty, the presence of an intercom, registration of visitors and their vehicles, etc. Consider these points carefully before investing in real estate.

Legal Check of Property:-

Make sure the property is approved for construction where it is located. The client must have approvals and NOCs from the district development authorities, the water and sewer department, the electricity supply department and the Municipal Corporation. However, if you are taking out a mortgage loan, the relevant bank will check your property documents before approving the loan.

Hidden and Additional Charges:-

Be sure to read carefully all the points in the documents and understand the provisions of the sanctions. The developer is obliged to pay you a monthly fine if you do not take over the apartment within the deferral period. Additional costs such as stamp duty, GST, mortgage processing fees, registration fees and all other fees must also be taken into account.


When you feel you are ready to become a homeowner, it is important to point out the most important things to consider when buying a flat in Pune. There are several factors to consider, such as your preparation, local market conditions and making sure you know these factors before buying an apartment.

Also read:-

MahaRERA issues warrants for Rs 633 crore against errant builders

Budget 2022: FM allocates Rs 48,000 cr to boost affordable housing!

Difference between REITs and Direct Real Estate Investments?


What are REITs?

REITs buy and develop real estate primarily for the purpose of using it in their investment portfolio. REITs or Real Estate Investment Trusts are companies that own and operate properties for the purpose of generating income. Unlike other real estate companies, REIT does not build real estate for resale. These are the companies that manage portfolios of high end properties and mortgages. People can participate in large real estate revenues through REITs.

What is Direct Real Estate Investment?

Direct investment in real estate means buying a particular property at a stake or the acquisition of property from a particular person. This implies a significant share in an asset, whether it is a shopping mall, an office building or an apartment. This type of business allows investors to generate income by rental investment. It even allows you to monetize the valuation of the assets you own. As the price increases over time, you get a significant return on assets.

Key difference between REITs and Direct Real Estate Investment!

Direct Real Estate Investment offers more tax incentives than REITs and also investors have more decision-making power.

In case of REITs, investors invest their money in a diversified portfolio of commercial real estate assets. But in case of direct real estate investment for commercial offices, investors invest in a single office property only.

Individual investors can take advantage of real estate through a REIT without the need to own or manage real estate.

Compared to Direct Real Estate Investment, REITs are easier to buy and sell because many of them are publicly traded on exchanges.

Difference between REITs and Direct real estate in terms of returns!

There is a major difference between the returns of both investments:

In the case of REITs the ROI will be clearly structured, realistic and risk-free. They are ideal for investors who want a stable income with minimal risk.

During the time of inflation, property values tend to rise as property prices and rents rise, resulting in higher returns for REIT investors. Realistic ROI from REITs can be expected in the range of 7-8% per annum after adjusting fund management fees.

REITs must distribute at least 90% of the taxable profits to shareholders, and dividends of 5% or more are common.

How do REIT investors generate income?

Like any other business REIT requires capital. The investors of REITs make money by renting, leasing or selling the assets they buy. Shareholders elect a board of directors, which is responsible for selecting investments and recruiting a team to oversee them on a daily basis. FFO, which stands for funds from transactions, is the most common way of calculating REIT income.

REITs Investors generate following types of income:

– Dividend income
– Price gains after the sale of REIT units
– REITs are a great opportunity for investors who want to diversify their portfolios outside the gold and securities markets. This is a great place to invest if you are investing in real estate for the first time and want to diversify your portfolio without unnecessary risk.


A REIT is a good option for investors who do not want to manage real estate, or for those who do not have or can not get the funds for it. REITs are also a great way for aspiring real estate investors. Individual investors can invest in income from owning commercial real estate with a REIT without buying it themselves. Direct real estate investment is good if you want more control over your money and prefer a convenient approach.

Also read:-

Builders have to disclose the status of mortgage loans for apartments

Chandigarh Housing Board (CHB) to Auction 110 Residential Properties


A CHB senior official said the property had been empty for years and deteriorating as well. Since CHB could not auction this property for many years, it was decided to auction this property in stages.

Chandigarh: Council officials have begun the auction process for 110 residential properties. Following the completion of the auction process for 110 residential properties (self-owned properties), the Board of Directors will begin the auction process for 150 commercial properties (leasing) and 11 residential properties (rental) next month.

Auction through E-Tendering-

According to the official, the property will only be put up for auction through e-tendering. CHB recently lowered the reserved price of this property by 9-20%. CHB’s proposal was also recently approved by the Chandigarh administration.

The reserve price was reduced by 10-20% after seeing the low response to CHB’s attempt to put the property for auction last year. These 270 properties are located in sectors 51, 63, 38 (west), 39 and Manimajra. Among the properties, 51 new apartments are being offered at auction, which has been part of the most expensive CHB housing project in the city. In addition, the commercial properties are also situated in Manimajra, Sector 51, 61 and Maloya that will be put up for auction.

A senior official said the property had been empty for years and its condition was also deteriorating. Since CHB could not auction this property for many years, it was decided to auction this property in stages.

Flats Offered at Varied Price Range-

After registration with CHB, interested parties have 10-15 days to apply for the auction.

For the real estate auction, the board has already set the base price of HIG apartment (rent) in sector 39 at Rs 1.05 crore. Likewise, the reserve price for the three-bedroom apartment in sector 63 was set at Rs 86.24 lakh. The price of a two-bedroom apartment in sector 51 is between Rs 80 and 84 lakh respectively. 

The reserve price for a 1 BHK apartment was set at 39.37 lakh and for EWS it was 24.35 lakh in Sector 49. Likewise, the reserve price for a 2 BHK apartment in sector 49 was set to vary from 69.86 lakh to 71.25 lakh. Taking into account the location of the floor.

The base price for a 2 BHK apartment in sector 63 is set at 67.29 lakhs. The base price for HIG (rental) apartments in sector 45-A is set at Rs 1.06 crore. Likewise, the price of a restaurant in Manimajra is also Rs 2.58 crore. The reserve price for a small corner stand (booth) is set at 97 lakhs.

Also read:-

Ghaziabad Development Body asks Residents to vacate Alaknanda Towers

SBI, HDFC, Kotak Offer Lowest Home loan Interest Rates

RLDA Invits Bids for Residential Tower in Chennai’s Wall Tax road

Railway plans residential tower in chennai’s wall tax road. RLDA is responsible for creating assets for Indian Railway by utilizing vacant railway land.

It seems that the railway is planning to invest a big capital in real estate. This investment will be a boost for the Chennai real estate sector. The railway will collaborate with several private developers to build commercial complexes and apartments. They will acquire a total of 7.5 acres of land and the complex will comprise various shops and a residential tower. The ground floor dedicated to shops and a variety of shops is build on an area of 1,167 square meters. The project is executed on the Wall Tax Road near MGR Central Railway Station. 

Towers will have dedicated floors

The advice of floor deviations are proposed by Rail Land Development Authority. Excluding ground, rest of the floors will be for residential apartments on Wall Tax Road. “RLDA is responsible for creating assets for Indian Railway by utilizing vacant railway land.

The price of site is finalized and is kept at Rs 4.18 Crore with a lease period of 45 years and procedure of bids from developers has started. Construction of residential and commercial complexes done in key areas like Ayanavaram and Pulianthope Railway Colony. These two pieces of land 2.4 acres each, situated in Ayanavaram Railway Colony along Duncan Road and Konnur High Road. The other two land pieces situated at Pulianthope and Wall Tax Road with an area of 0.27 acres and 2.09 acres. 

Since most of the vacant railway lands are located in major areas in proximity to public utilities. RLDA hopes to earn money by developing those vacant lands for commercial as well as residential use. 

RLDA second real estate project

It’s the second time that RLDA is developing a real estate project for commercial use in Chennai. The first project was proposed in September 2020, where approximately 3,600 sqm of land in East Tambaram was developed for real estate.

Words from RLDA Chairman-

According to Ved Prakash Dudeja, developing real estate at these sites will enhance the Chennai infrastructure. These upcoming projects will give a boost to Chennai’s real estate sector, local economy and create many employment opportunities.

Also read:- Delhi government cuts circle rate upto 20%

How Union Budget 2021 will benefit Real Estate?


Finance Minister Nirmala Sitaraman has finally announced Union Budget 2021 on February 1, 2021. Various policies and amendments are introduced. The government has introduced various reforms to boost the affordable housing sector as well. Let’s discuss how Union Budget 2021 will benefit real estate sector. 

How Real Estate will be benefited from Budget 2021?

Relaxation to Affordable Housing:-

In the budget of July 2019, the government cut the interest, corresponding to Rs 1.5 lakh, for the loan taken to buy affordable homes. Now, the Finance Minister (FM) has continued this deduction till another year i.e. 31 March 2022. An additional 1.5 lakh deductions will be available for loan taken to purchase an affordable home. This loan waiver will be discontinued after 31 March 2022.

To boost the supply of affordable houses, FM proposed that affordable housing projects can take advantage of tax holiday. This tax exemption is valid till 31 March 2022. 

Budget 2021 provides tax exemptions for notified affordable rental housing projects, this will contribute to the demand of affordable rental housing for expatriate professionals. Hence, union budget 2021 will benefit real estate in affordable housing sector. 


Debt Financing of InVITs and REITs by Foreign Portfolio Investors will be permitted by appropriate amendments in the respective legislation’s. This will increase the ease of finance for InVITs and REITs and thereby increase funding for the infrastructure and real estate sectors.

To boost the investment, the government in the last budget had removed the DDT (Dividend Distribution Tax) and it was made taxable in the hands of shareholders. 

But now dividend payment will be made to REIT/InvIT in addition to TDS, which will facilitate ease of compliance. 

The amount of dividend income for payment of advance tax cannot be properly calculated by the shareholders. But after the announcement of budget 2021, advance tax liability on dividend income will be applicable only after payment of dividend. Thus budget 2021 will benefit real estate in a financial way as well. 


The finance minister has proposed several points to boost the infrastructural development. In today’s scenario, 701 km of conventional metro is in working condition. Approximately 1,015 km of RRTS and metro is under development in 28 cities. The government also proposed a strategy for two new metro train technologies i.e, ‘MetroNeo’ and ‘MetroLite’ in Tier 2 cities and outer areas of Tier-1 cities. These metro projects are more cost-effective than common metro rail systems but provide similar convenience and experience. 

The centre government will provide funding to various infrastructural projects- 

Chennai Metro Railway Phase-II of 119 km, the estimated cost will be Rs 63,245 crore. 

Kochi Metro Railway Phase-II of 11.6 km, the estimated cost will be Rs 1,958 crore. 

Bengaluru Metro Railway Project Phase 2A and 2B of 59 km, the estimated cost will be Rs 14,789.

Nagpur Metro Rail Project Phase-II and Nashik Metro, the estimated cost will be Rs 5,977 crore and Rs 2,093 crore. Thus budget 2021 will benefit real estate in terms of infrastructure as well. 

Stressed Asset Resolution:-

The high degree of provision of banks in the public sector of their stressed assets requires measures to clean up the bank books. For this, an Asset Management and Asset Reconstruction Company would be set up to take over the previous stressed debt. Then manage and dispose of the assets to Alternative Investment Funds and other trustworthy investors for final value realization. 

Further NCLT framework will be made more robust and reliable, e-courts system will be established. Other policies for debt resolution and a dedicated framework for MSMEs are yet to be introduced. 

Union Budget 2021-22- A Silver Lining for Real Estate Sector!


Union Finance Minister Nirmala Sitharaman is preparing to present the Union budget 2021-22 on February 1, 2021. It is expected that Union Budget 2021-22 would help to revive from COVID-19 setback in a feasible manner. There is no doubt that COVID-19 has hit almost every sector therefore something needs to be done for all sectors. Also people from different sectors presented many proposals and suggestions to the Minister of Finance during preliminary budget discussions.

The same is true for the real estate sector, as they have also placed their demand, like flexible income tax norms and reforms in Good and Services Tax (GST). They consider that central government and some state governments have announced a series of measures to develop the real estate sector, which was low for the last two or three years. It has helped to stimulate demand in the third quarter of the current financial year.

Effect of COVID-19 on Real Estate- 

Corona-virus has a severe hit on all industries including real estate sector. Insecurity of jobs has led many home buyers to postpone their property purchase. Many builders have extended the possession period due to delays in supply of construction material, shortage of workers, etc. Many retail and entertainment outlets has been closed temporarily, this has put the future commercial real estate on hold. Work from home trend has reduced the utilisation of office space in Bangalore, Gurgaon, Noida, Chennai and other metropolitan cities.  

Related Article:- Impact of Coronavirus on Real Estate

Expectations from Union Budget 2021-22

Mr. Lincoln Bennet Rodrigues, Founder and Chairman of the Bennet and Bernard Group, known for its luxury vacation homes in Goa, expressed his views on upcoming Union Budget 2021-22. He said “The real estate sector is a major pillar of India’s GDP, and has undergone substantial changes over last few years. We anticipate further easing of income tax reforms in the upcoming budget.

The sector also expect the government to implement various reforms and accelerate consumption to grant bank loans to ease liquidity. A lower home loan interest rates, stamp taxes, and lower registration fees, will significantly affect the cost of the project and will definitely motivate home buyers to purchase the property. 

After this epidemic, people realised the importance of large spaces and self-sufficient communities. This will definitely increase the desire to have bigger space for the same capital. Hence, places like Goa will surely attract the investors because it offers a number of amenities”. 

In conclusion, we expect the government would realise the problems of real estate sector. And will take the necessary measures to strengthen the real estate sector and development of solid infrastructure.

Connaught Place To Grab 2.5 Million sq ft New Workspace Soon


New Delhi, the spirit of India is the national capital and a political, social and artistic hotspot of the nation. The property in Delhi is persistently in demand irrespective of its relentlessly developing expenses and extending population. The capital city of India has experienced monstrous development in the past couple of years. Travelling from one place to another has become fluid and fast. Along with the refurbishment of New Delhi Railway Station, Connaught Place (CP) is likewise to get nearly 2.5 million sq. ft. of advanced commercial real estate supply in the following quarters.
The Railway Ministry intentions to renovate, around eight million sq ft of the New Delhi Railway Station. As informed by Ved Parkash Dudeja, Vice Chairman, Rail Land Development Authority (RLDA), the designer of the project will be permitted to utilize 2.5 million sq ft for commercial purposes. Resultantly, Connaught Place, which is a clamoring business hotspot in New Delhi, will have over two million sq ft of new advertisement space soon. Allegedly, the authority is the statutory expert for advancement of the vacant land for business purpose.
As educated by the sources, the whole undertaking will be financed by means of the money generated from the said business development. While the expense of the entire venture is evaluated to associate Rs 7,000 crore, the authority plans to compulsorily spend Rs 4,500 crore towards the redevelopment of station and workplaces essential for the working of railways.
According to an ongoing revelation made by CBRE, Delhi NCR, alongside with other markets of Bangalore and Hyderabad is relied upon to rule the business resources in 2020. While the improvement in Bangalore and Hyderabad is required to be amassed in the peripheral areas, Delhi NCR is probably going to witness new quantity in core areas as well.

YEIDA Proposes Business Centre Near Jewar Airport




Jewar Airport is a planned air terminal to be built in Jewar which is situated in the Gautam Budh Nagar region of Uttar Pradesh. The Yamuna Expressway Industrial Development Authority (YEIDA) will be the enforcing firm on behalf of the Uttar Pradesh State Government.

The Yamuna Expressway Industrial Development Authority (YEIDA) has intended to build up a business hub in Sector 29 in Greater Noida. The centre would disperse over a territory of 500 areas within the reach of forthcoming Jewar Airport and would establish the framework for real estate advancement in the city.

Taking cognition at the real estate deceleration in Greater Noida, the Yamuna Expressway Industrial Development Authority (YEIDA) has suggested a business epicentre in Sector 29 in the city in vicinity to the impending Jewar International Airport. The project would incorporate a lavish handicrafts park and an expo mart alongside with a 200-acre textile hub that would usher the restoration of the sickly piece garment industry. The entire hotspot would have a potential of 300 commercial complexes and is foreseen to attract speculation worth Rs 3,000 crore.

YEIDA has additionally considered a shopping complex for Small and Medium Enterprises (MSMEs). The authority has assigned 300 acres of land division in Sector 29 for the advancement of the retail space that would showcase the products manufactured by the small-scale units. The scheduled conveyance for the project is in 2020, and the authority before long floats the tenders for its improvement.

Furthermore, the authority additionally aims to build up an aptitude advancement center over 2.4 acres of land. The center would offer professional courses to students to attain industrial training and diploma certificates. On the whole, the proposals by the authority would not only hike the new job opportunities but would also enhance the real estate inclination in Noida and Greater Noida markets.


Union Budget In Favor Of Real Estate

Finance Minister, Nirmala Sitharaman publicized the Union Budget 2019-20, the first one post the General Elections 2019. Including all parts, especially the real estate industry, were seeking answers to pro-industry announcements from the Government and more income tax incentives for home buyers. While a portion of the industry expectations have been fulfilled, others still remain deprived.


1) Concentrate on affordable housing

Advancing with the Government’s push to affordable housing section, the Finance Minister declare a sum of around 1.5 crore rural homes have thus far been developed under the Pradhan Mantri Awas Yojana. Centre additionally proposed to construct 1.95 crore reasonable homes under phase-2 of the flagship scheme between 2019 and 2022. These houses will come well equipped with amenities such as toilets, electricity and gas connection.

On the contrary, Sitharaman proposed that under Pradhan Mantri Awas Yojana – Urban, more than 81 lakh homes have been approved until this point, 26 lakh houses have been developed, and 24 lakh homes have been delivered to the recipients. As many as 47 lakh homes are currently under-construction.

2) Model tenure law to hike rental housing

Regardless of restated pleas by numerous industry stakeholders, the need of planning a Rental Housing Policy has been a long overdue demand . Fortunately, the similar has been described in Union Budget 2019-20 with the Government announcing to finalize a ‘model tenancy law’, which will characterize the connection between the renter and lessor and circulate it to the States. This move will not just give a push to rental housing across the nation but will likewise protect the interest of both tenant and landlord associations.
3) Boosting infrastructure and connectivity

In a gigantic push towards infrastructure and connectivity, the government allotted Rs 100 lakh crore to infrastructure development in the country, more than twice of what it proposed in the Interim Budget 2019. The assets will be utilized to reconstruct the National Highways Programme and upgrade railway infrastructure for better connectivity through numerous schemes such as industrial corridors, Dedicated Freight Corridor (DFC) and UDAN. The choice will unquestionably hike the real estate industry and help in initiating employment opportunities.

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BOP launches Real Estate Boutiques

The new Metro City for the price of an ordinary car, £3,250.
A very ambitious and unique project has been announced by a Better Option Propmart(BOP) a Delhi based Real Estate Management and Advisory firm. They are set to launch 15 Real Estate ‘boutique’ across the Northern India.

These will be first of its kind boutiques and will be known as ‘BOP Studio’. The idea is based on the model of any walk-in-store for property consultancy and purchase. It will have sit –in-consultants who will provide detailed and free counseling to every customer. The ambience will be of any high class store and will have the database of various projects in North India.

The Managing Director of the company, Mr. Amit Mavi said on the occasion, “You could walk-in, avail yourself of our free real estate consultancy and still not buy any property being showcased. Our aim is to bring the ‘consumer durable shopping experience’ to real estate buyers. We expect people to perceive BOP as a real estate advisory service provider rather than a mere property seller.”

The initial investment in the project is said to be huge that of at least 60 lacs per studio on the infrastructure alone. The firm plans to open 2,000 square feet street outlets at most of the hot spot destinations for Real Estate like Agra, Amritsar, Chandigarh, Jaipur, Lucknow, Kanpur, Noida,  Meerut and others.

The studios will yield profit if they handle at least 10 projects every year and achieve sales of Rs. 150 cr per city. The financial engagement looks tough more so for Tier II cities as the average realization from residential projects there is lower than that in metro cities.

Will this idea become successful, only time will tell?

Beary’s Group Bags Prestigious Prize

A Bangalore based residential project has won the runner up award by the International Real Estate Federation (FIABCI). ‘Bearys Lakeside Habitat’, a twin tower residential project was awarded the prestigious award on May 27 at Bali, Indonesia.

Photo by [ecpark]
The ceremony was held in the presence of the President and the First lady of the Republic of Indonesia along with many other renowned developers and dignitaries especially flown in from around the world.

The project promoted by the Bearys Group, ‘Lakeside Habitat’ that welcomes you to the city as you drive into it from the airport is the only Indian project to win this award this year. This is not the first time that Lakeside Habitat has won an award; it has been recognized on many previous occasions also.

There were fifty-four projects chosen from across 11 countries to compete for the coveted Prix d’ Excellence award 2010.

The award was received by the Director of Beary’s Group, Mr. Siddique Beary.

Indian Real Estate has once again a reason to rejoice.

Sunil Mantri Group Announces The Square

The textile capital of India Sholapur has a reason to rejoice. Sunil Mantri Group, a leading real estate development company with pan-India presence in association with Kumar Yashraj Group, a leading Sholapur-based developer, has announced its new project “The Square” with an aim to set new bench marks in the western zone.

Week 04 - Lomond Shores - 0075 HDR
Photo by Alan Caldwell
The project will incorporate top of the line amenities, security and design aspects and is the first of its type in Sholapur that will encompass residential, commercial and retail real estate segments creating a unique neighborhood in the center of the city where residents of the city can relax, shop, and enjoy fine dining in a modern setting. The Square will be spread across 27,000 sq. meters.

The Square, a juxtaposition of Residential & Retail, constitutes  flats of 2 , 2.5 and 3 bedroom configuration and more than 180 shops, a major anchor retail outlet, and a hyper mart on a total area of 2,81,000 sq feet. Situated on the main road, it gives easy accessibility, luring consumers to the premises. The Square also introduces a modern food court with fine dine facilities and a shopping arcade for a totally relaxing environment to chill out in.

Mr. Sunil Mantri, Chairman, Sunil Mantri Group said on the occasion, “Tier II and Tier III cities in India have tremendous potential. We see great opportunity in smaller cities and we are confident about the success of our Sholapur project. At The Square, we look forward to making available premium lifestyle offerings in southern Maharashtra. Our experience has lead to a greater understanding of the demands of ultra-modern living and we are committed towards creating landmarks of exemplary design, comfort and quality that benchmark the highest standards of urban living.”

The plush arrangements for the club house and modern gymnasium, box cricket, children’s play area, swimming pool and landscape grounds studded across The Square creates a self-contained world of extravagance and indulgence for all its residents and offers them all the amenities and facilities of modern living within its premises.

The Square promises to be a combination wherein nature and urban living co-exist with modern and premium amenities in the center of the city.

Amrapali Group announces “Amrapali Leisure Valley” Independent Villas in Noida Extension

Till now Noida extension was only having war between budget home providers. Adding to the current construction war in Noida Extension Amrapali group recently added new Category “Independent villas“. Today In leading newspapers through Full page ad Amarapali Group announced a Project Having Luxurious Independent Villas in Noida Extension. Name of the project is yet not announced but According to the sources it’ll be called “Amrapali Leisure Valley“.It will have around 71 Acres of open area. At its name suggests It will have many Leisure facilities like golf,cricket academy, Club, Pool facility.

For More details and Booking Visit

New Courses In Real Estate

IDS National Institute of Real Estate Management (IDS NIREM) has come with an idea to develop human resources for the Indian realty sector focusing on Real Estate Education, Training, Consulting & Research. Acknowledging the urgent need for specialization in realty management education it recently launched a PG Diploma course in Commercial Real Estate (PGD-CRE).

fresh off the stage
Photo by Foxtongue
It will be a one year distance learning course patterned on MBA in Real Estate. IDS NIREM also proposes the course at diploma and certificate level.

The Diploma course will be offered in two divisions. First is for those who want to commence their career in real estate including the fresh graduates and MBA’s. Second, for already existing real estate professionals who either want to amplify their learning or want to ace in commercial property sector. This course will focus on knowledge as well as practical skills to analyze, acquire, finance, and operate realty sector resources.

NIREM promises to provide PG level degree, diploma and certificate courses along with MDPs, Consulting and Research in different fields of real estate. In addition to these learning programs, it also plans to develop touchstones for real estate sector, retail & institutional investors and other stakeholders

The courses offered are:

Post Graduate Diploma Courses

  • Post-Graduate Diploma in Commercial Real Estate
  • Post-Graduate Diploma in Real Estate Sales & Agency Management

Diploma courses

  • Diploma in Commercial Real Estate
  • Diploma in Real Estate Sales

Certificate Courses

  • Certificate in Real Estate Management
  • Certificate in Commercial Real Estate

Emaar MGF Launches New Project in NCR

Photo by paul goyette
India`s one of the leading Real Estate Developers, Emaar MGF Land, recently announced the launch of a new mid-income family housing project `Palm Hills` in NCR.

It will be located on NH-8 at a prime location in Sector 77, Gurgaon. The total investment will be Rs 500 cr on an area spread over 29 acres with the scenic view of the Aravalli Hills.Palm Hills are located at only a 20 min drive from Delhi`s International Airport and surrounded with green landscaped areas with Spanish styling architecture.

Palm Hills offers to house about 1250 units with an expectation to rise up to Rs 3,850 cr. With a starting price of Rs 48 lacs the company has already sold 650 units in the first phase. These apartments will give a feeling of a villa with unique features that no other developer serves. These will include 3BHK and 4BHK apartments with 1450sq ft to 1950 sq ft per villa. The villas have efficient floor plans and offer the choice to make amendments to maximize living space.

“The launch of Palm Hills marks the obligation of Emaar MGF to continuously develop properties with modern design concepts and gives the experience of living in a gated master planned community a new definition.”  Said Mr. Shravan Gupta, Executive Vice Chairman and Managing Director of Emaar MGF. He further added that “The exhilarating response on the very first day of the project launch is an indication to the predominating huge demand for quality housing in the mid-market segment”.

The rocketing success of Emaar MGF can be guessed by taking a look at their reserves. They have a land bank of 11,340 acres including the Commonwealth Games Village. They are currently working on 29 projects.

Emaar MGF which is a joint venture between domestic firm MGF and Dubai-based Emaar Properties is planning to utilize Rs 1,972 cr for part re-payment of debt of over Rs 5,800 cr. It will also be investing Rs 276.8 cr in paying development and license renewal charges in the coming year.

Jaypee Group Announces Wish-Town Kensington Park – Residential Plots in Noida

Noida, Uttar Pradesh – Construction major Jai Prakash Associates (Jay pee Greens) has announced new residential plots – The Kensington Park in Sector 133, Noida. The project is located in prime location with Jaypee Wish-Town along the Greater Noida Expressway providing excellent connectivity to areas of South Delhi (Apolo Hospital: 10-15 minutes and AIIMS: 20-25 minutes drive).

The plots are available in the sizes 153, 209, 239, 298, 363, and 538 sq yards. The pricing is very attractive at Rs 42,000 per sq. yard. Currently an inaugural discount is available of Rs 3,000 per sq. yards bringing down the price to Rs 39,000 per sq. yard. An additional 10% discount is also available on down payment.

For further information or booking please visit:

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* All distances are approximate is a winner again! - Website of the Year 2009We are excited to announce that has been voted the best real estate website of the year for the second year in a row!, launched in Jan 2008, continues its tradition of innovative and affordable advertising in real estate. We would like to thank you for your continued support in making us the best website yet again in our second year (also voted best in 2008).

The Website of the Year awards are the largest annual ‘people’s choice’ website awards and have organized since 2004 by MetrixLab, an independent online market research agency, in association with Neilsen Online & Mashable. The title ‘Best Website of the Year’ is provided to the website with the highest average score on content, navigation and design in its category. This year, 221 websites were nominated over 18 categories. More than 1,500,000 votes were cast between November 3 and December 8 2009. was voted best among 12 websites nominated in the real estate section. Complete results of the poll are available at