free lancer real estate

Leasehold properties are those where developers acquire land development rights through lease for a period between 30 and 99 years, from the time of construction. The figure of 99 years is considered an approximate period encompassing three generations and covering the life expectancy of any lessee or lessor while also securing the property ownership of the lessor.

The Maharashtra State Cabinet took two key decisions in a meeting held on April 24 that have come as a boost for real estate market of the capital city, Mumbai. In a move that has come as great relief to those who left Pakistan to settle in India after the Partition in 1947, the state has decided to freehold their properties. It has also decided to reduce the lease rent it charges form co-operative housing societies built on government land in Mumbai.

In order to become a debt-free company, real estate major DLF is planning to launch qualitative institutional placement (QIP) by June. The company will be raising up to Rs 4,500 crore by issuing about 17.3 crore shares through the sale of shares to institutional investors. The money so raised will be used to repay loans.

The GDA is likely to move a proposal later this month to allow defaulters pay dues in installments. However, there is a catch. Not all developers will benefit from this move since it is not a policy decision and benefits will be offered to builders after studying their capability and intent to pay.

In what is being touted as one of the biggest apartment deals in the country, RPG Group Chairman Harsh Goenka has bought a five-bedroom luxury sea-facing unit in Mumbai’s Malabar Hill for Rs 45.2 crore from Citibank India. The property, say media reports, was sold through an auction conducted by the bank recently.