Gap Inc, one of Simon’s biggest tenants, said in April it would save about $115 million a month in rent for its stores. Simon Property Group reported a 20.2% decline in quarterly profit and scrapped it annual forecast on Monday as the mall operator was forced to temporarily close all its U.S. retail properties in March due to…

Top brokerages are cutting their earnings estimates for real estate companies as the Covid-19 led lockdown has intensified the gloom in the sector. A day after CLSA slashed the target price of Oberoi Realty for high unsold inventory woes, UBS has downgraded the stock to sell from buy and halved the target price to Rs 300. UBS has also downgraded Godrej…

They were among 2,200 people working at the company’s site. Eight hundred people hailing from Bihar, who worked at a site of a construction major here, were sent to their home state on a train on Tuesday, South West Delhi District Magistrate Rahul Singh said. They were among 2,200 people working at the company’s site. The…

A senior minister in Karnataka sparked a controversy on Monday by saying landlords cannot collect rent from tenants during the lockdown. R Ashoka, revenue minister in the Karnataka government, said action will be initiated against house owners if they demand rent from tenants or force them to vacate the property due to non-payment. “In such a situation, extreme…

CHENNAI: The Tamil Nadu government has issued an order saying sub-registrars should not insist on inclusion of value of building in the sale document, while registering the undivided share of land (UDS) of newly completed buildings, if it is first sale. The clarification has been issued by the inspector general of registration in the wake…

BENGALURU | MUMBAI: A senior minister in Karnataka sparked a controversy on Monday by saying landlords cannot collect rent from tenants during the lockdown. R Ashoka, revenue minister in the Karnataka government, said action will be initiated against house owners if they demand rent from tenants or force them to vacate the property due to…

It has allotted two industrial and two institutional plots near the upcoming Jewar airport attracting investment of over R 60 crore. The Yamuna Expressway Industrial Development Authority (YEIDA) has decided to attract industries to invest in land parcels near the upcoming Jewar airport amid lockdown. It has allotted two industrial and two institutional plots near the upcoming Jewar airport attracting investment of over…

There are around 40,000 construction workers registered with the board.  The Delhi government on Monday decided to provide another financial assistance of Rs 5,000 to the construction workers amid the extended coronavirus lockdown.  The decision was taken at a meeting of the Construction Workers’ Welfare Board, chaired by Delhi Labour Minister Gopal Rai. There are around 40,000 construction workers…

WeWork’s special committee, which represents minority shareholders in the company including its co-founder Adam Neumann, is contesting SoftBank’s decision to walk away from the tender offer agreed last year. A special committee of WeWork board members filed a motion in Delaware on Monday to prevent it from being disbanded, as it pursues legal action against majority owner SoftBank Group Corp…