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economy
NAREDCO seeks rationalisation of GST on under-construction properties

NEW DELHI: National Real Estate Development Council (NAREDCO) on Tuesday requested government of India to rationalise GST on real estate, bring stamp duty under the purview of GST and incentivise rental housing in the upcoming interim Union Budget 2019-20.Niranjan Hiranandani, president, NAREDCO said, “The real estate sector is passing through a difficult phase because of…

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economy
Lodha Group subsidiary announces buy-back for 2020 dollar-denominated bonds

MUMBAI: Lodha Developers International, a subsidiary of India’s largest realty developer Lodha Group, has announced a buy-back programme for its senior dollar denominated bonds, which are due in the year 2020.The company has appointed J.P. Morgan Securities PLC to repurchase up to $65 million or 20% of the $325 million outstanding bonds with 12% coupon…

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economy
Mumbai: After two months, director of Tyche Realty surrenders

Siddharth Dhanu, director of Tyche Realty, who allegedly duped homebuyers by posing as a business partner of Ruparel builders and selling flats in Ruparel Ariana project surrendered before the court on Monday. He had been untraceable since the case was registered with Mumbai police’s Economic Offences Wing (EOW) in November last year. On Saturday, police…

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economy
Gurugram: 19 affordable housing projects get government’s approval

GURUGRAM: The department of town and country planning (DTCP) has issued licences for 19 new affordable housing projects, which are likely to be launched in Gurugram soon on land released as part of the increased allotment for affordable housing. It follows the rise in demand for affordable housing, bucking the slow recovery of the real…

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