Mumbai Luxury Apartments: Large-size sea-facing apartments are a rarity in space-constrained Mumbai. This, along with high demand from industrialists, Bollywood stars, and high-salaried employees is causing the rush for such uber luxury real estate in India’s financial capital.
The last few years have seen the emergence of a new class of homebuyers somewhere between an investor and an end-user – who is not interested in making a quick buck, but is in it for the long haul.
Just before amendments to Sections 54 and 54F of the Income Tax Act, 1961, kicked in on April 1, Mumbai witnessed a rush to register high-end properties in February and March. Budget 2023 has set a Rs 10-crore cap on reinvestment of capital gains from the sale of long-term assets, including property
MUMBAI: Mumbai-based realtor Macrotech Developers or erstwhile Lodha Developers is looking to raise up to Rs 2,500 crore by diluting 10% stake in the company through an initial public offer (IPO) in the next few months.
For the proposed share sale, India’s largest real estate developer by residential sales has filed its draft red herring prospectus (DRHP) with the capital market regulator late Tuesday.
This is the third time the developer is proposing to take the company public with a share sale after attempting the same in 2009 and 2018 and later deferring the issue in the backdrop of unfavorable market conditions.
“The business is being valued at around Rs 25,000 crore and a primary raise with 10% dilution will help the company fetch around Rs 2,500 crore,” said one of the persons with direct knowledge of the development.