Leased properties
On Tuesday, Vikram Bakshi – the estranged Indian partner of McDonald’s Corp – asked the US fast food chain to return all the prime properties which had been leased to the company to set up its restaurants in India. The arguments on behalf of Bakshi were concluded by his counsel S N Mukherjee, at the [...] Continue Reading »
The 40% of government leases of the plots in Mumbai have expired long back, some as far back as the 1950s. Of the 1,282 plots leased, the lease of 532 plots had expired and the government has not bothered to renew it. 51.66 lakh sq mt of leased land situated in South Mumbai is fetching [...] Continue Reading »
As the state government of Maharashtra has proposed a hike in the stamp duty of the property transaction, the buyers of the residential and non-residential properties in Mumbai will have to pay a five per cent stamp duty on the market value of the property. Earlier, the stamp duty in Mumbai was charged at Rs [...] Continue Reading »
Delhi Developement Authority (DDA) have now promised it will take half the time what it used to take before for processing of applications for conversion of properties from leasehold to freehold. The process of conversion has been divided into various stages to expedite it. An application for conversion has to go through various levels for [...] Continue Reading »
