#RealtyNewsRoundup: Mumbai Most Expensive City For Expats In India, Says Mercer Report
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Mumbai has emerged as the most expensive city in the country for expat in a recently released Cost of Living 2018, a report by consulting firm Mercer. Mumbai has been ranked the 55th most expensive in the world leaving behind global peers such as Melbourne (58), Frankfurt (68), Buenos Aires (76), Stockholm (89) and Atlanta (95). Other Indian cities that have featured on the survey include Delhi (103), Chennai (144), Bengaluru (170) and Kolkata (182).
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The Haryana government, under the Haryana Registration and Regulation of Societies (Amendment) Rules, 2018, that the housing societies cannot charge more than Rs 10,000 as transfer fee in case the ownership of the property changes. Additionally, the maintenance charges in a society will also remain fixed based on the size of the apartment for maintenance of common area and facilities.
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In order to help the ailing Jaypee Infratech Limited, Jaiprakash Associates is now in final talks to sell its residual cement business to ACC. The business that has an annual capacity of 5.5 million tonne per annum is expected to be sold for Rs 5,200 crore. This transaction is expected to be completed in second quarter of the ongoing fiscal. Jaiprakash Associates is already raising Rs 2,200 crore from Deutsche Bank as bridge loan against the sale of cement assets. It will use Rs 1,000 crore of the loan for Jaypee Infratech after getting lenders and court approval. The remaining Rs 1,200 crore will be used by Jaiprakash Associates to repay its own term loan.
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The Delhi Development Authority’s Housing Scheme 2018 will be delayed and launched by the end of this year. The scheme, which was to be launched in June, according to the DDA officials will now come up by December. Of the 21,000 flats on offer, according to the DDA spokesperson, some are not complete. Also, the DDA wants to provide the basic infrastructure to complexes where the flats are located. All of this will take some time and hence, a delay in the launch.
Source: Media reports