Rental Housing in India Is on the Verge of Entering a New Orbit
Maya M
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The new Model Tenancy Act 2020, which is currently under discussions at the Centre, aims to bridge the trust deficit between tenants and landlords by clearly delineating the obligations of tenants and landlords. The draft Act seeks to ensure speedy redressal of disputes by proposing to establish rent courts and rent tribunals to hear appeals for matters connected to rental housing. For the first time in decades, the government has given rental housing its due attention which may help it fulfil its vision of housing for all.
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Puri, who led HDFC Bank since its inception over 25 years ago, retired in October 2020, after a highly successful career which has made the bank the largest among private sector lenders.
Former HDFC Bank managing director Aditya Puri has joined global pharma major Strides Group as an advisor and will also serve as a director of its associate company Stelis Biopharma. Eminent corporate doyen Aditya Puri joins the Strides Group as an advisor and also will be a director of its associate company, Stelis Biopharma, Strides Pharma Science Ltd said in a regulatory filing.
Strides Pharma Science said Puri s appointment to the Stelis board comes at an exciting juncture for the company as it transitions from its incubation phase to a consolidation and growth phase to establish itself as a partner of choice globally with the aim of bringing world-class treatments at affordable costs to patients in both emerging and developed markets.
How the 50% Cut in Premiums Will Help Home Buyers, Developers and Maharashtra Govt
Moneylife Digital Team
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To boost real estate demand, the Maharashtra government has announced 50% reduction in premiums for the sector. This will be applicable to ongoing and new real estate developments till 31 December 2021. This new year bonanza comes in addition to extension of the stamp duty cut applicable in the state until 31 March 2021. This 50% reduction premiums comes as per the recommendations of the Deepak Parekh committee.
Project developers, who will avail these concessions, will have to pay full stamp duty on behalf of buyers. Thus, as per the caveat, theoretically, developers can choose to avail this one-time window and pay the entire project premiums upfront and save 50% of the costs. The realty sector has hailed the decision, saying that the reduced development costs to developers and lower purchase cost to home-buyers could result in increased demand.