Real Estate News Update for September 3
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Ashley Biharilal Nagpal, promoter of furniture company EBCO has purchased a luxury apartment in a super-premium residential tower in central Mumbai’s plush Worli locality for over Rs 115.5 crore.
The issue of tax implications of transferring leasehold land has come to the fore once again as the authorities have started to issue notices to recover dues for such a transfer.
Paving the way for the expeditious implementation of the Dharavi Redevelopment project, the Union cabinet approved the transfer of 256 acres of salt pan land in Mumbai to the state government on Monday.
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Capital markets regulator Sebi has put on hold the proposed Rs 4,000-crore initial public offering (IPO) of JSW Cement. Without specifying reasons, Sebi stated that the "issuance of observations (has been) kept in abeyance," according to an update on its website on Monday.
The Centre on Monday modified the guidelines for transfer of government-owned salt lands, providing for online auction under which the private sector can participate in case there are no takers from CPSEs, or states at the applicable rates.
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