Headlines

Business, Headlines, Real Estate, The Big Story, Top Stories January 8, 2021

50% of Real Estate Cases Under IBC Closed in 2020

Since the inception of the provisions for corporate insolvency resolution process (CIRPs) on December 1, 2016, a total of 4,008 CIRPs across various sectors had commenced as of September-end 2020. Of these, 473 have been closed on appeal or review or settled, 291 have been withdrawn, 1,025 have ended in orders for liquidation, and 277 have ended in approval of resolution plans. At present 1,942 CIRPs remain, for which banks and operational creditors are seeking resolution.

Headlines, India, The Big Story, Top Stories December 31, 2020

In a landmark stride, India’s COVID-19 Recovery Rate crosses 96%, one of the highest in the World

With a high number of COVID patients recovering every day and the sustained fall in the mortality rate, India’s steady trend of registering dipping active cases continues. 21,822 new confirmed cases recorded in the last 24 hours in the country whereas 26,139 new recoveries were registered in the same period. It has led to a net decline of 4,616 cases from the total active caseload.

Housing Sales Plummeting Since 2013

Business, Headlines, India, Real Estate, The Big Story, Top Stories December 21, 2020

2020 Year-End Housing Market Review – At 1.38 lakh homes sold and 1.28 lakh fresh supply, housing bottomed out in 2020

2020 has been an unprecedented year due to COVID-19, causing all-round upheaval.  However, the residential segment was quick to pick up momentum in the last two quarters of 2020 on the back of growing homeownership sentiment – catalysed by the exigencies of the pandemic. This pent-up demand was further accelerated by the ongoing discounts and offers, the prevailing lowest-best home loan interest rates, and limited-period stamp duty cuts in states such as Maharashtra