Real Estate News Update for January 19
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Industry
MUMBAI: Several top builders in the city have questioned the stiff eligibility norms in place for bidding on a 24-acre sprawl in Bandra Reclamation with a gross development value of Rs 30,000 crore-plus, reports Nauzer Bharucha. Their representatives had gathered Tuesday at the MSRDC office in Bandra (West) to discuss the process.
Industry
Edelweiss Special Opportunities Fund provided a Rs 350 crore debt facility to Bengaluru-based realty company Shreshta Infra Projects Pvt Ltd, partly to complete two projects and also to repay debt raised from Oaktree Capital, said two people with knowledge of the matter.
Regulatory
NEW DELHI: Capital markets regulator Sebi on Thursday sent demand notices to Dheeraj Wadhawan and Kapil Wadhawan, the former promoters of Dewan Housing Finance Corp Ltd (DHFL), asking them to pay Rs 10.6 lakh each in a case concerning flouting of disclosure norms. Also, the regulator has warned them of arrest and attachment of assets as well as bank accounts if they fail to make the payment within 15 days, according to two separate notices.
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Regulatory
In the case of Deepak Jain (the applicant) who had leased out his property to a private limited company, which was engaged in back-office operations, the AAR observed that, up to July 17, 2022, renting of residential dwellings for use as a residence was exempt from GST, while renting for commercial use was taxable at 18%.
Industry
GURUGRAM: The structural audit of 22 highrise societies, ordered by the district administration last year, has been stuck for the past six months as their developers have failed to pay the fee for the survey. Now, the deputy commissioner is issuing notices to the developers warning them of legal action in case of further delay.
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