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Bollywood actor Shahid Kapoor and his wife Mira have bought a luxury sea-view apartment in Mumbai’s prestigious Oberoi 360 West project in Worli. The apartment, measuring 5,395 square feet, was purchased for ₹58.66 crore and registered on May 24, 2024. This is their second property in the high-rise developed by Oberoi Realty. The apartment includes three parking spaces and offers stunning views. It was acquired from Chandak Realtors Pvt Ltd, who bought it in a bulk deal in 2023. The Kapoors’ purchase highlights the strong demand for high-end residences in Mumbai.

Mumbai, 31st July 2024: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken a significant step towards enhancing transparency and accountability in the real estate sector by mandating that developers specify deadlines for the delivery of facilities and amenities in housing projects. This directive, announced today, aims to address long-standing concerns about the availability of promised amenities and ensure that homebuyers receive what they were promised. According to the new regulation, developers must include a detailed schedule of facilities and amenities in Annexure-I of the Agreement for Sale. This annexure, part of the official sales document registered with the government, will now outline the delivery dates for various amenities such as swimming pools, tennis courts, gymnasiums, clubhouses, and more. The directive is designed to prevent developers from delaying or neglecting the promised features of a project. “In the past, developers often advertised attractive amenities but failed to deliver them in a timely manner,” said Ajoy Mehta, Chairman of MahaRERA. “Our new regulation requires developers to specify when these facilities will be available. This change will provide homebuyers with clarity and ensure that developers are held accountable for their commitments.” The new rule also addresses projects that are developed in multiple phases. Developers are now required to provide phase-wise timelines for the completion of amenities, ensuring that residents of earlier phases are informed about the availability of facilities. This provision is intended to prevent frustration among residents who might otherwise be left waiting for promised amenities until the final phase of construction. Furthermore, any major changes to the location or number of facilities will require approval from MahaRERA. If the changes affect the amenities significantly, developers must obtain consent from two-thirds of the affected residents. This measure is designed to prevent unilateral alterations that could impact the quality of life for residents. The new regulations will be applicable to all registered housing projects with immediate effect. Existing Agreements for Sale will remain in force as per their original terms, but the new provisions will apply to all future transactions. MahaRERA has also introduced a model format for Annexure-I to assist developers in complying with the new requirements. Previously, the Agreement for Sale focused primarily on the cost of the apartment, payment plans, and penalties for defaults. It did not include specific details about the timing of amenities, often leading to discrepancies between what was promised and what was delivered. “This measure will eliminate the uncertainty surrounding the availability of amenities,” Mehta added. “Just as developers are obligated to deliver apartments on time, they will now be required to meet deadlines for amenities. This will enhance transparency and protect the interests of homebuyers.”

Mumbai, July 25, 2024 – Renowned actor-director R Madhavan has made a significant investment in Mumbai’s real estate market by purchasing a luxurious residential property in the prestigious Bandra Kurla Complex (BKC). The apartment, valued at Rs 17.5 crore, reflects Madhavan’s continued success and growing portfolio. The property, located in the upscale Signia Pearl complex, spans approximately 389 square meters (4,182 square feet) and includes two dedicated parking spaces. The high-rise residence is situated in a prime corporate neighborhood and offers high-end amenities for an exclusive lifestyle. The sale deed for the apartment was finalized on July 22, 2024. The purchase incurred a stamp duty of Rs 1.05 crore and a registration fee of Rs 30,000. The apartment is ready for immediate occupancy, providing Madhavan with a new Mumbai address in one of the city’s most sought-after locales. Madhavan, who is currently enjoying the success of his film Shaitaan with Ajay Devgn, continues to expand his horizons in the entertainment industry. Following his acclaimed directorial debut with Rocketry: The Nambi Effect, he is set to appear in S. Sashikanth’s debut film Test, a sports drama also featuring Nayanthara and Siddharth. Additionally, Madhavan has several other projects lined up, including Mithran R. Jawahar’s family drama, biopics of Gopalswamy Doraiswamy Naidu, Chempakaraman Pillai, C. Sankaran Nair, and Swati Singha’s science-fiction film G. About R Madhavan: R Madhavan is a celebrated Indian actor and director known for his versatile roles in both Bollywood and Tamil cinema. He has received several accolades for his performances and continues to be a prominent figure in the film industry.

Mumbai, July 18, 2024 — Indian cricketer KL Rahul and his wife Athiya Shetty, daughter of Bollywood star Suniel Shetty, have acquired a luxurious apartment in the upscale Pali Hill area of Bandra, Mumbai. The property, valued at ₹20 crore, spans 3,350 square feet and is situated on the second level of the Sandhu Palace building, an 18-floor structure. The purchase details, accessed via property registration documents from IndexTap, reveal that Rahul and Shetty paid ₹1.20 crore in stamp duty and an additional ₹30,000 in registration costs. The transaction, which includes four automobile parking spaces, was officially registered on July 15. The Sandhu Palace building has received a partial occupation certificate from the Brihanmumbai Municipal Corporation (BMC), ensuring compliance with local regulations. This prestigious address in Pali Hill is home to numerous Bollywood stars and affluent individuals, with luxury apartment projects in the area often costing ₹1 lakh or more per square foot, according to local brokers. In addition to their new residence, the couple has much to celebrate as the Board of Control for Cricket in India (BCCI) recently announced a ₹125 crore prize money award to the Indian cricket team’s players and coaching staff for their World Cup victory. For more information, please contact: Indextap About KL Rahul KL Rahul is a prominent Indian cricketer known for his exceptional batting skills and leadership on the field. He has represented India in various international tournaments and plays for the Indian Premier League (IPL). About Athiya Shetty Athiya Shetty is a Bollywood actress and the daughter of renowned actor Suniel Shetty. She has made a significant mark in the film industry with her performances and continues to be a prominent figure in Indian cinema.

Pune, [26 July 2024] – In a bold move to enhance post-possession customer service, Kohinoor Group has launched the “The SSR Helpdesk,” a state-of-the-art support system designed to ensure a seamless living experience for its residents. This innovative initiative is set to significantly benefit the 12,000 residents across Kohinoor’s properties, aligning with the company’s “Sada Sukhi Raho” philosophy. The SSR Helpdesk promises 24/7 availability running on a robust technology platform, allowing residents to reach out via calls, WhatsApp, and emails. A unique feature of this service is that complaints can only be closed through an OTP received on the customer’s mobile phone, ensuring customer satisfaction and control over the resolution process. With a dedicated team in place to address any issues, Kohinoor Group emphasizes personalized support and care tailored to each resident’s needs. This initiative highlights Kohinoor’s commitment to providing exceptional customer service and maintaining trust with its residents. Residents can easily raise tickets by calling the toll-free number, through WhatsApp or by emailing their concerns. The SSR Helpdesk was inaugurated today by the Chairman Mr. Krishnakumarji Goyal and Joint Managing Director Mr. Vineet Goyal, in the presence of the entire Kohinoor team. This customer-centric approach is expected to set a new benchmark in the real estate industry, showcasing Kohinoor Group’s dedication to enhancing the living experience of its residents. For further information, please contact: ssr@kohinoorpune.com

FM said, “We wanted to simplify the approach to taxation also for the capital gains. The average taxation has actually come down when we say it is now 12.5%. Because, we worked it out for each of different asset classes each varied with indexation. We brought it down below the average which is lowest in the last several years. It will encourage investment in the market.” Ranjeet Naiknavare, President, CREDAI Pune Metro on the newly reduced Capital gain tax This move by Hon FM is done to rationalise the capital gains tax across all financial and non-financial assets. The market is ready for reforms considering the fact that the Indian economy is growing. It may be noted that in India, the Long Term Capital Gain Tax (LTCG) rate is lower than the income tax and is also lower than the similar taxes in other countries like the USA, UK, China, Brazil and Australia. Now, with the simplification of capital gain tax calculations buying and selling would be easier. Secondly, the reduction of LTCG Tax to 12:5% from 20% is likely to create a positive sentiment in the market. Such a flat rate for capital gain taxes will result in a formalized economy and also in faster transactions. Now onwards, investors will not have to wait longer for indexation benefits wherein appreciation is lower than indexation and can sell anytime due to flat capital gain tax rate. As far as Pune is concerned, it will not have much impact because the home buying is largely done by the end users. However, this decision may act as a catalyst for increasing investments in the real estate sector because now the tax slabs are the same as stock market, gold and mutual funds but real estate is a more secured and proven investment asset with year on year good monthly returns in capital appreciation too. Capital gain tax is still not applicable when money is used to buy another home. Sellers can continue taking exemption under section 54 of the income tax act. The section provides an exemption on the long term capital gain tax from sale of residential property if sale proceedings are used to purchase or build another residential property. However, it will impact investors who would sell their house (investment) and reinvest in other asset classes. It will impact relatively shorter-term investments of less than 5 years where market price growth is less than 10% per annum. For a longer holding period it will be beneficial where the appreciation is about 5-6% per year. Basis on calculations it seems that if inflation is low and property price increase is faster then the new system is beneficial for sellers. It may be also noted that the Hon Finance secretary said that 95% of sellers won’t be effected by this change. Just for the quick reference the capital gain taxes in some countries are USA capital gain tax is 0-20%, UK 10-24%, China & Japan it is 20%, Brazil is 22% and in Australia it is 15%.