PROPERTY TRANSFER
Godrej Properties buys TDR certificates for Gurugram project
Godrej Properties has acquired Transfer of Development Rights (TDR) certificates worth Rs 50 crore for its Sector 43 project in Gurgaon, a novel practice in the NCR region but common in Mumbai. These certificates allow for an additional 300,000 sq ft of construction, potentially generating Rs 900 crore in revenue. TDRs, obtained from Haryana government for land acquisition, were sold with a floor area ratio (FAR) of 2. This strategic move is expected to catalyze similar transactions in Gurgaon, following the company's significant sales growth in FY24 and upcoming projects in prime sectors.
Amitabh Bachchan buys more office properties in Mumbai Andheri suburb
Bollywood legend Amitabh Bachchan expands his Mumbai property portfolio with the purchase of three office spaces in Oshiwara for Rs 60 crore. This acquisition adds to his existing commercial holdings, with a focus on real estate investments alongside other industry figures.
Step-by-step process for a home loan balance transfer
Transfer your home loan wisely by comparing offers, verifying eligibility, submitting required documents, negotiating terms, and finalizing the balance transfer for reduced EMIs and long-term savings.
Cops involved in drug trade will be dismissed, smugglers' property attached, says Punjab CM Bhagwant Mann
Punjab Chief Minister Bhagwant Mann announced strict measures against police officials involved in drug trade, stating they would be dismissed and traffickers' properties attached. He also revealed plans for mass transfers of lower-level police officials, recruitment of 10,000 personnel, and reforms in the police department to combat the drug menace.
No land to Adani group, Dharavi land transfer to Maharashtra govt depts: Sources
The Dharavi slum redevelopment project involves the Adani group building houses for residents, with land transferred to Maharashtra government departments, not Adani. Officials rejected claims of land grab, emphasising that the land remains with government entities. The project aims to provide housing and commercial spaces, ensuring no displacement of Dharavi residents. Additional benefits include stamp duty exemptions and business support.
Chris Wood of Jefferies picks GMR Airports, trims stake in 3 bank stocks
Jefferies' Global Head of Equity Strategy Chris Wood has added GMR Airports Infrastructure to India portfolio and reduced stakes in ICICI Bank, HDFC Bank, and Axis Bank.
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NASA's cutting-edge alloy investment set to drive Aerospace innovation
NASA's groundbreaking investment in superalloy GRX-810 is poised to revolutionize aerospace technology, offering superior durability and performance in extreme conditions. Developed under NASA's Technology Transfer Program, GRX-810 can endure temperatures exceeding 2,000 degrees Fahrenheit and withstand more stress and oxidation than traditional materials. Licensed to four American companies, this nickel-based alloy promises to enhance the competitiveness of American aerospace industries and improve overall fuel efficiency, marking a significant step forward in materials science.
I received Rs 18 lakh from sale of ancestral property. Where should I invest this money for the next 3-5 years?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
NRI Investing Guide: Are you legally allowed to buy agricultural land in India?
NRIs in India face restrictions under FEMA when purchasing agricultural land, but can inherit it from relatives to reconnect with their roots.
Godrej & Boyce sells 58,500 sq ft office space in Mumbai’s Vikhroli to Godrej Industries
The office space on the 9th floor has already been leased to managed flexible workspace provider Simpliwork Offices for a period of 60 months until March 31, 2026. This lease will also be transferred to Godrej industries as the new landlord, showed the documents accessed through Propstack.
US extends some Chinese tariff exclusions, but many to fall away
The exclusions were previously scheduled to expire May 31, but USTR said it was extending the exclusions through June 14 to allow for a transition. It said certain exclusions would be extended through May 31, 2025 to support efforts to shift sourcing out of China, or provide additional time in cases where availability of the product outside of China remains limited.
China to take 'resolute measures" in response to US's increasing tariffs on imports
US President Joe Biden has directed his Trade Representative to increase tariffs on USD 18 billion of imports from China, including semiconductors, solar cells, batteries, and critical minerals, to protect American workers and businesses. China's Ministry of Commerce responded by stating that the move will seriously affect bilateral cooperation. The White House announced the decision in response to China's "unfair trade practices" and to counteract the harms resulting from artificially low-priced exports.
Supreme Court admits petition on imposition of GST on joint development pacts
The Supreme Court admits a petition challenging GST imposition on transfer of development rights in joint development agreements, impacting real estate projects nationwide. Notices issued to government bodies for replies. Argument centers on whether such transfers constitute a taxable supply under GST law, potentially leading to double taxation. Decision could reshape real estate dynamics.
IL&FS seeks fresh MMRDA approval for transfer of HQ in Mumbai's BKC
IL&FS applies for MMRDA approval to transfer its BKC headquarters to Brookfield Asset Management. NCLT's transfer is pending, causing delays. Brookfield progresses towards property acquisition as IL&FS aims to manage debt through asset monetization efforts.
Hoteliers pull out all the stops to pamper business travellers
Travel and hospitality firms reported that they are seeing distinct changes in the needs of India's new generation of business travelers, going above and beyond simple lodging. Customized facilities and services are in greater demand and are being provided.
CBAM, permanent establishment rules, transfer pricing key in India’s outbound FDI: EY
EY's report highlights how environmental concerns and clean energy challenges could impact Indian companies investing abroad. The report delves into areas like CBAM, transfer pricing, and investment rules, emphasizing the need for proactive measures. It also discusses FTA opportunities, global acquisitions, and risks related to BEPS rules, POEM, and intellectual property laws.
Buying a home in Dubai? Do a FEMA reality check
Navigating property purchases in Dubai can be a regulatory maze for Indians due to foreign exchange laws. Deals offering easy payment plans with instalments over years may violate FEMA. Regulations permit remittance of $250,000 per individual annually for property purchases abroad. However, transactions involving 'instalments' create obligations in foreign exchange, potentially breaching FEMA rules.
PM Modi slams Congress' inheritance tax idea, calls wealth redistribution promise 'Maoist' ideology
Prime Minister Narendra Modi denied plans for an inheritance tax, criticizing the Congress for advocating such ideas. He slammed Rahul Gandhi's proposals as Maoist ideology and accused the Congress of attempting to give OBC reservation to Muslims for political gain. Modi highlighted the BJP's achievements in economic reforms and financial inclusion, contrasting them with Congress' misgovernance in Karnataka, which has led to a water crisis in Bengaluru. He expressed confidence in the BJP's prospects in Karnataka and clarified the Centre's stance on drought relief distribution.
Jet Airways ownership transfer: SC agrees to hear lenders' appeal against NCLT order
While the bench was initially inclined to issue notice to JKC and the monitoring committee on the SBI’s appeal, it accepted the counsel’s request to finish the hearing at the earliest. The CJI, accordingly, kept the case for further hearing on Friday.
HAL, NAL sign tech transfer pact for Tejas engine day door production
With the signing of the technology transfer for Bismaleimide (BMI) Engine Bay Door (EBD), HAL can directly produce these high temperature resistant composite parts for the series production of LCA Mk1A aircraft meeting the initial requirement of IAF squadrons, a joint statement said.
Stocks in news: JSW Energy, Dixon Tech, ZEE, PC Jeweller, Shriram Properties
In today's trade, shares of JSW Energy, Dixon Tech, ZEE, PC Jeweller, Shriram Properties among others will be in focus due to various news developments.
Boutique properties boom: HNIs showing great interest in exclusive properties for celebrations
According to travel industry experts and property owners, there is a growing demand for bulk bookings of entire boutique properties costing Rs 3 lakh per night to as much as Rs 10 lakh. Some are even using private charters for group travels. These bespoke holidays are either for exclusive reunions, celebrations or simply to enjoy leisurely getaways during long weekends, fuelling a trend of luxurious seclusion.
How can my daughter transfer her share in ancestral property to her brother?
Raj Lakhotia, Founder, Dilsewill answers readers' estate planning queries.
Amitabh Bachchan leases 4 offices in Mumbai’s Andheri to Warner Music India
The tenant will be paying total rentals of over Rs 11 crore through the entire lease tenure. The lease will be operative starting from March 2024. ET had reported in September that Bachchan bought these four offices totalling over 12,000 sq ft built up and 10,800 sq ft carpet area for nearly Rs 29 crore. The tenant will be paying monthly rentals of Rs 170 per sq ft for the first three years and the lease agreement includes a clause to escalate rentals by 15% thereafter for the next two years taking it to Rs 195.50 per sq ft per month, showed documents accessed through Propstack.
8 ways to transfer your assets to legal heirs, how much to leave as inheritance
Find out the best ways to transfer your wealth to heirs and what it entails for inheritors.
How parents can prepare inheritors for the wealth transfer
Is there a road map for managing inheritance? It might be early to say, but the principles of personal finance will hold good anyway. Define your life goals and prioritise what you want to do with your wealth. Take charge of your wealth and know what it includes, where it is invested and how it can align with your goals.
Don't leave everything you own to your kids; 8-point checklist for your asset transfer plan
To think of your children as natural heirs and leave everything to them is a simple and noble thought. Do not allow your lack of preparedness or oversight to derail the implementation of this intent. Take estate planning seriously and apply strategic thought to it. Here's a checklist on how parents can transfer wealth to their children
Haven't received share from brother after sale of a joint property. What to do now?
You can file a suit against your brother to claim your share in the sale proceeds of the property. To initiate the legal process for claiming money, it is essential to possess adequate documentation. All you need to know
Unconventional property transfer: Iranian estate agent arrested for transferring ownership to dog
A real estate agency in Iran has been closed down after a viral video showed property ownership being transferred to a dog. The video featured the dog, named Chester, 'signing' with paw prints and being named as the owner of an apartment. The dog's owners, who do not have biological heirs, explained that they chose to pass on the property to their pet. While dogs are generally frowned upon as pets in Iran due to certain interpretations of Islamic law, there is an emerging trend among the upper classes of keeping cats and dogs as companions.
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