Property deal stuck for 4 yrs: Adar Poonawalla blames bureaucracy

MUMBAI: Businessman Adar Poonawalla, whose family bid for the Lincoln House in south Mumbai for a whopping Rs 750 crore, has blamed “bureaucratic harassment” for being unable to take possession of the heritage mansion. The billionaire Poonawalla family, which runs the Pune-based vaccine manufacturer Serum Institute of India, bid for the plush property in 2015 […]

Senior citizens tribunals can evict abusive children from ancestral properties: HC

The court said the 2007 Act is a special statute enacted to protect the life, liberty, dignity and property of senior citizens and parents, who are in peril at the hands of their own children and grandchildren, and that the object of the Act is required to be achieved by all means.

Fund managers freeze UK institutional property funds

Schroders said on its website it had suspended its 2.4 billion pound fund, which has monthly redemptions, on March 18 because “the industry standard wording for all forthcoming … independent valuations for the Fund’s underlying properties as at 31 March 2020 will include a statement highlighting material valuation uncertainty”.

New leasing of office, retail spaces may take hit in short-term due to lockdown

New Delhi: India’s commercial real estate, which has been performing well for last few years despite slowdown in the property market, is likely to be impacted due to nationwide lockdown as market experts see short-term affect on demand-supply of office and retail spaces, besides pressure on rentals values. Corporates and retailers, both global and domestic, […]

Analyst Upgrades Fox, Downgrades Disney in New Coronavirus Impact Report

Meanwhile, he cut his Disney price target to $100 from $160, but highlighted that this was still a premium reflecting “both the quality of Disney’s asset base and our view of the value of the direct-to-consumer business, which is a drag on near-term financial results.”

Cuomo critics highlight years of taxpayer waste, amid deepening coronavirus crisis in New York

“Just last year we saw Governor Cuomo allocate $30 million to provide college tuition to those here illegally – that’s $30 million worth of ventilators and personal protective equipment that we can’t send to our heroes working on the front lines during this pandemic today,” argued Assemblyman Mike LiPetri, who currently serves in New York’s […]

California declined to sue Trump nominee’s bank over foreclosures

The violations included reducing homeowners’ chances to challenge foreclosures by backdating documents and manipulating bids at property auctions to cut off the owners’ rights, according to a memo from attorneys in then-state Attorney General Kamala Harris’ office. The memo, reported by the news website the Intercept, said the lawyers had recommended that Harris sue the […]

Japan’s Marubeni to foray into Indian real estate

MUMBAI: Japanese institutional investor Marubeni Corporation has agreed to invest Rs 300 crore in realty developer Wadhwa Group’s nearly 1-million sq ft residential project ‘Atmosphere’ in Mulund suburb of Mumbai. This is Marubeni’s maiden investment in Indian real estate. It said in a statement that it will be investing in the project by subscribing to […]

EU Court Adviser Says ‘Public Interest’ Trumps Right To Short-Term Renting During Crisis

“Airbnb is not party to this case, which only applies to the renting of second homes in Paris. The vast majority of hosts in Paris share their primary homes and the CJEU has already set out how Airbnb should be regulated in Europe,” the US-based company said in a statement. The ECJ which will make […]

WeWork founder threatens to sue after Softbank scraps rescue deal

Softbank’s decision to pull out of the share deal means it will also no longer be obliged to provide WeWork with $1.1bn in debt financing, leaving the office space provider facing a cash crunch as many of its tenants across the world pull out because of the Covid-19 crisis and government-imposed lockdown conditions.