A real estate developers’ body has urged the Maharashtra state government to reduce the stamp duty charges back to 2 percent in Mumbai until March 31, 2022 following a slowdown in housing sales and reduction in revenue collections for the government. CREDAI-MCHI believes that the downward trend is set to […]
Commercial Real Estate Occupiers Put Their Leasing Plans On Back Burner In Wake Of The Second Wave Of COVID-19 Pandemic
Ever since the first wave of COVID-19 struck last year compelling corporates to put their employees in work-from- home mode, several corporates across the country have renegotiated rentals with their landlords. As companies reel under the second wave of the pandemic, they continue with reduced rentals carried forward from the […]
Second Wave Puts A Lid On Home Sales, Project Launches
The recovery in home sales and project launches has sharply slowed down due to the second covid wave, as homebuyers stayed away from site visits and postponed transaction closures. In states such as Maharashtra, which has India’s most valuable property market, the Mumbai Metropolitan Region (MMR), the withdrawal of the […]
Second Wave Of COVID-19 Has Put Serious Questions On The Recovery Of Mumbai Real Estate
Almost exactly a year ago at the peak of the COVID-19 crisis, there was outright panic in the Mumbai real estate market. An existential crisis for humanity was being debated. Work from home had triggered the possibility that city-life was becoming redundant and with that the demand for housing. The […]
Financial Strain Experienced By Real Estate Developers In The Times Of COVID-19
The real estate sector was caught in a conundrum last year with flattening demand, a challenging funding environment, and increasing compliance-based costs. The onset of the pandemic exposed the fragile financial health and business models of real estate developers in India. The financial health of developers in the preceding 12 […]