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Hey folks, we are back again with the latest Real Estate News Roundup from 30th March to 5th April 2021.
Largest Residential Transaction in the Country
Mumbai: Setting out a milestone, Mr Radakrishnan Damani and his brother Mr Gopi Kishan Damani has brought a posh G +2 Storey Luxury Bungalow in the premier locale of Malabar Hills for a whopping Rs 1001 crores. This is now considered the largest residential transaction in the country.
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Commercial Developers appeal against 18% GST.
Delhi: The commercial real estate developers of the country appeals to the Government not to levy the 18% GST if the JDA or Joint Development Agreement situation exists in the property development of commercial rental projects. The current tenet regulates that if, in the case of JDA, both parties have to pay 18% GST charges and if there is only one party involved then, like developer group themselves buys the land, they only have to pay the stamp duty charges. Thus the rule hits a heavy toll on the business relationship and might even force certain concerned parties to back away from the deals, which will then again hit hard the industry altogether.
Handover of DDA Dwaraka Flats Halted
Delhi: The Handover of the 348 2-BHK flats, which comes under the Delhi Development Authority's Dwaraka sector, is halted for 5 months. These flats are a part of the DDA's original 1354 flats, which were allotted to the enthusiastic homebuyers through a draw within the 22,752 initial applications.
So that's it, folks, these are some of the top news snippets we've curated for you from the finest news sources of the country. And we hoped you enjoyed them. Stay tuned till the next roundup update!
Adios!
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