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IPO Review - Macrotech Developers Ltd - ICICI Direct
Posted On: 2021-04-06 22:16:33 (Time Zone: Arizona, USA)
Macrotech Developers Ltd (MDL), incorporated as Lodha Developers Pvt Ltd on September 25, 1995, is one of the largest real estate developers in India by residential sales value for FY14-20. Its core business is residential real estate development with a focus on affordable and mid-income housing. Currently, it has residential projects in the MMR and Pune. In 2019, the company had forayed into the development of logistics and industrial parks and entered into a joint venture with ESR Mumbai 3 Pte Ltd. MDL also develops commercial real estate, including as part of mixed-use developments in and around its core residential projects.
COVID-19 impact: Here’s how much prices of premium properties have fallen in Mumbai and Delhi NCR
Some premium properties in Mumbai have seen a 15-20 percent correction, while the Delhi NCR has seen a 10 percent drop in some pockets. Developers slashed prices during the peak of the pandemic due to the uncertainty caused by the lockdown.
Representative Image (Source: Reuters)
For almost a year, Abhinav Sagar (name changed), a construction material dealer, had been hunting for a high-end property in Mumbai. In August 2020, he settled on a 400 sq m ready-to-move-in residential unit in Malabar Hill for around Rs 50 crore and registered it two months later at a discounted stamp duty rate, benefiting by almost 20 percent. This was thanks to Covid-19 and the resultant cash flow issues being faced by the developer.
Mumbai: MCA amends building height rules, SoBo realty firms rejoice
In a big relief to the builders and developers especially from South Central Mumbai, the Ministry of Civil Aviation (MCA) has finally notified amended rules pertaining to building height restrictions applicable to projects within radius of 20 km from Airport. This will help them to complete the projects which were stuck after the MCA in 2015 had come out with the Height Restrictions for Safeguarding of Aircraft Operations) Amendments Rules reducing the height.
In addition, the validity period of No Objection Certificates has been enhanced from overall period of 8 years to 12 years which gives relief to builders and developers especially from the South-Central Mumbai.
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Mohan Rawale: From Balasaheb Thackeray s bodyguard to five-time Shiv Sena MP, a look at the leader s political journey
Mumbai Mirror / Updated: Dec 19, 2020, 22:59 IST
By
Parag Chavan
Mohan Rawale, who passed away on Saturday, was a common man s MP. He was a Sainik right from Shiv Sena’s starting days. My father, late MLA Vitthal Chavan, and
Mohan Rawale were close friends and our families had cordial relations.
Rawale was an MP from South Central Mumbai for five terms.
When the Shiv Sena was formed, late Balasaheb Thackeray did not have police protection. In those days, Rawale, along with Sham Naidu,