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Conversations are underway to allocate an additional Rs 28,000 crore for the Pradhan Mantri Awas Yojana – Gramin (PMAY-G), this fiscal year to ensure states meet their construction targets within the stipulated timeframe. The amount will be allotted over and able the Rs. 20,000 crores already allocated for PMAY-G scheme in the 2022-23 Budget. The additional funds will be used to complete construction of 8.9 million houses that remain from their target of 29.5 million rural pucca houses.
Mumbai based Macrotech Developers has had an eventful and fruitful year, barring a few hiccups. The realty firm presently headed by Abhishek Lodha reportedly delivered 4.4 million square feet of space creating an estimated Rs 8,000 crores in revenues in this fiscal year alone. Although the company reported a consolidated net loss of Rs 933 crores for the quarter ending September 2022, their net profit has increased by 28 per cent YoY. The loss booked has been largely due to an exceptional loss suffered on account of economic turbulence in the United Kingdom where they have two projects.
Co-working company Avanta India recently announced its intention to expand its portfolio to meet the growing demand for flexible workspaces in the coming months. The company will add 2 lac square feet of office space, including 50,000 square feet of space dedicated solely to premium co-working establishments. The developments will add almost 3,000 workstations across multiple localities in Delhi-NCR. Their project at Nehru Place in Delhi, scheduled to be completed by December, will create 150 seats across the 10,000 square foot set-up.
Sikka Group has received last mile funding from the Special Window for Affordable and Mid-income Housing Fund (SWAMIH) amounting to approximately Rs 200 crores. Sikka Kimaya Greens situated in Greater Nodia was launched in 2014 and scheduled for completion in 2020. Due to the Covid pandemic and other financial constraints the project was stalled midway. Over 1,000 individuals had invested in the project to date. Having received financial assistance, the developers now aim to complete and deliver the project within eighteen months.
Last week, the City and Industrial Development Corporation (CIDCO) conducted a computerised lottery for its housing schemes in Kalamboli, Taloja, Kharghar and Dronagiri. They offered over 4,000 apartments for the Economically Weaker Section (EWS) category. In August 2022, CIDCO announced a mass housing lottery scheme under the PMAY scheme’s directives. Over 4,000 apartments have been allotted under the scheme to the EWS category and general public. In October the scheme received 16,000 applicants. CIDCO has now included the sale of 245 commercial shops at its various housing complexes, commercial premises, and railway stations in the scheme.
According to recent reports, the government of India has fixed an indicative value of Rs 7.409 crore rupees for the iconic Ashok Hotel located in New Delhi. This action was taken in line with the National Monetisation Program which aims at raising private sector investment for new infrastructure creation. The Ashok Hotel and along with the adjacent Samrat Hotel two of the eight structures listed under the India Tourism Development Corp assets under this scheme.
Keystone Realtors Ltd (KRL), which sells properties under the brand 'Rustomjee’, launched its initial public offering (IPO) on November 14, 2022, allowing investors to subscribe till November 16, 2022. Trading of its shares closed last week with average 3 per cent gain against its issue price of Rs 541. The stock was listed on the BSE and NSE at Rs 555 and finally settled at Rs 556.85 on the NSE indicating a 2.9 percent hike and at Rs 557.80 indicating a 3.11 per cent hike on the BSE. The company traded 4.16 lac shares on the BSE and 58.63 on the NSE.
The Runwal Group has opened its first-ever "By Invitation only" residences at Park Avenue in Kalyan-Dombivli at Runwal Gardens in Dombivli. The 3-BHK, 4-BHK, and Duplex residences on Park Avenue range in size from 1017 square feet to 2,595 square feet and start at Rs 1.40 crore. These residences created by AR Hafeez Contractor, offer lifetime views of an 11-acre central park along with a private clubhouse and other luxury amenities catering to the demands of the privileged few who will call this place home.
The Goa Coastal Zone Management Authority (GCZMA) has ordered the demolition of a restaurant, a shower, a fountain, a vehicle porch, a security cabin and a basement that were discovered to be built between 200 and 500 metres from the high tide line, violating the existing zoning regulations. As it appears, none of the entities had procured the requisite construction approvals. Action was taken after three individuals including former Benaulim MLA Churchill Alemao and the Colva Civic and Consumer Forum complained about the illegal projects.
While speaking at an event organised by the rural development department at YB Chavan Centre, Deputy CM Devendra Fadnavis announced the state government’s intentions to create its own housing to ensure Maharashtra becomes the first state in the country to provide ‘housing for all’. Through the PMAY Rural scheme, the government has allotted over 10 lac homes till date. The new scheme coined Awaas Plus intends to create an additional 3.5 lac homes for those who are not eligible for PMAY and other housing schemes.
As per a recent press release, Walton Street Blacksoil Real Estate Debt Fund II is said to have invested a sum of Rs 165 crores in Sowparnika Homes (Sowparnika Projects). The money will be used to fund affordable housing projects in key localities of Bengaluru such as Sarjapur Road, Whitefield, Old Madras Road, etc. In a bit to align themselves with the Prime Minister’s “Housing for All” initiative, the company will use this investment to create over 2,500 homes with an average ticket size of 50 lacs rupees.
Last week, a division bench of Justices R D Dhanuka and S G Dige said it would begin hearings for the petition filled by the state government regarding land acquisition from Godrej & Boyce from 5th December 2022. The state government and the company have been embroiled in a bitter court battle since 2019. The company alleges a wrongful approach undertaken by the state government to acquire the land and changes in the compensation amount offered. The state government and NHSRCL on the other hand are accusing the company of causing unnecessary hurdles thereby delaying the project.
Adding another feather to its hat, MYRE Capital recently announced the launch of its Lease-Contract Discounting investment vertical that will be the first in the country to offer alternative real estate investment products that will allow investors to grow their capital via managed leasing backed by solid collateral and lease rental receivables. The investment opportunities will be open to accredited Indians and NRI investors who can make a minimum investment of 15 lac rupees. The company is promising investors an IRR target of 13 per cent per annum.
In an attempt to jump upon the digitisation bandwagon and ease the burden on sub registrar offices, the state of Goa is considering introducing an e-registration process for flats purchased directly from the builder. The new system is currently underway and should be ready for use in the coming months. With the introduction of this facility, state officials hope to shorten the otherwise long and cumbersome process of property registration. To prevent impersonation and fraud, individual property sellers will not be permitted to use this service.
Japan based Marubeni Corporation has entered into a joint development agreement with Pune-based Kolte Patil Developers Ltd, according to a recent BSE filling. The project will be located in Pimple Nilakh, Pune and is said to have the development potential of over eight lac square feet. As per the agreement Marubeni Corporation will invest a sum of 200 crore rupees into the project, via a single tranche, providing KPDL will the requisite liquidity needed. Marubeni Corporation will be entitled to 2.85 lac square feet of saleable area within the project.
Earlier this week, The Chennai Metropolitan Development Authority (CDMA) demolished portions of a building on Kodambakkam High Road as per the Madras High Court directive. A portion of the building that held a health care centre, a pharmacy and portico were in violation of the assigned setbacks provided by the government. The demolition took place under police supervision.
A letter has been issued by the Finance Ministry to all state registration departments, including Maharashtra, with a copy marked to the chief secretary asking officials to provide details for all sale and purchase transactions relating to immoveable properties exceeding a value of fifty lac rupees. The Ministry has requested that all the data be submitted in the prescribed format by the 15th day of the succeeding month of every quarter. The report is to be submitted to the Financial Intelligence Unit (FIU-Ind).
The Special Investigation Team (SIT), set up by Thane Police Commissioner has arrested 10 people involved in the Kalyan Dombivli RERA scam. The SIT had booked 65 developers in the case but was yet to make any arrests. A key witness recorded his statement in front of the Judge earlier this week, allowing the police to move ahead with arrests. The builders have been accused of forging and falsifying documents to obtain RERA certificates to construct and sell properties. The scam has revealed multiple gaps in communication between government departments and corruption within its institutions.
Residential complexes in Mumbai City are fast opting for redevelopment. A concept that used to scare many is now being embraced by several housing societies across the region. Several government initiatives introduced in the recent past have helped society members opt for self-redevelopment and encouraged builders to take on such projects by way of additional FSI. As a result of this, several micro markets in Mumbai are experiencing a sudden surge in rental yields. Experts suggest rentals have increased by Rs. 5-10 /- per square foot in Mumbai Suburban and By Rs. 10-15/- per square foot in the Island City.
In September 2020, amid the Covid pandemic, ASK Property Fund agreed to invest a sum of Rs 125 crores with Gulshan Homz for their Gulshan One 29 project in Noida. This month the real estate fund will exit its investment having gained an IRR of 21 per cent. ASK Property Investment Advisors, the alternate asset investment arm of the ASK Group has raised over 600 crore rupees through the initial closing of its sixth real estate fund. The funds raised will be invested in the residential markets of Mumbai, Pune, Noida, Gurgaon, Bengaluru and Chennai.
Earlier this week, The Western Zonal Bench of the National Green Tribunal (NGT) ruled that the stay order on the sale of a plot in Nerul remain and gave petitioners two weeks to respond to CIDCO’s defense. The Navi Mumbai Environment Preservation Society (NMEPS) and neighboring residents have filled two petitions with the NGT to halt the sale of this plot citing CRZ violations. CIDCO has defended its decision while questioning the NGT’s jurisdiction to have allowed such petitions to be admitted. The final hearing has been fixed for 20th December 2022.
Earlier this week, two parties along with Kolte Patil Developers settled a case with SEBI regarding alleged violations or listing and disclosure regulations. Kolte Patil is said to have paid a sum of Rs 42 lac while G L Vishwanath and Manasa Vishwanath have paid Rs 10 lac each. This comes in light of a decision made by the parties involved to settle the alleged violations of the LODR Regulations without admitting or denying the findings through a settlement order.
The cabinet recently approved a proposal to halt periodic revisions to the capital value of properties in Mumbai City. The proposal sought an amendment to Section 154 (1d) of the BMC Act that allows the capital value of properties to be revised once every five years. Now, changes to the capital value can be made at any time by giving reasons for doing so in writing. The Brihanmumbai Municipal Corporation (BMC) is likely to lose revenue up to Rs 1,117 crore rupees this financial year owing to changes and amendments in the collection process laid down.
Tata Housing has launched a new phase of their mixed development township project Tata New Haven near Tumkur Road, Bengaluru. The entire project is situated on a twenty-five-acre land parcel comprising of thirty-five towers in total. The new phase will have a combination of 10, 12 and 14 storey towers and contain more than 400 residential units. Four towers have already received their occupancy certificates (OC).
A website by the name maharashtracivilservice(dot)org, designed and developed by, a Senior Deputy Collector, has helped the state department resolve over 5,000 land related queries in quick succession. The website is supported by the Maharashtra Civil (Revenue) Services Organisation whose members sign up and respond to queries posted. Most queries pertain to land inheritance, land transfer, changing names on the property cards, etc. The website has over 20 lac visitors and over 3,00 active contributors. The entire website is in Marathi making the information available accessible to a larger audience.
Taurus Investment Holdings and Sage Capital are looking to raise Rs 500 crore domestic fund to invest in the Indian Real Estate. The fund will look at investing in Tier 1 and Tier 2 high-growth cities in Western and Southern India. The planned real estate fund will look at raising funds from both domestic and international investors aims to build a a portfolio of projects valued over $1 billion over the next 5 years. The goal will be to invest in commercial, mid-scale residential and mixed-use development projects.
Disgruntled homebuyers of Kalpataru township project Immensa in Kolshet Thane, staged a protest outside the company’s head office in Santacruz earlier last week. More than fifty individuals gathered during the day with placards and demanded an explanation for the extended delay in handing over possession of the flats. Two senior representatives of the company supposedly met the protesters to address their concerns and put them at ease. As per the MahaRERA website, the project is now scheduled to be delivered in 2025.
In a statement released earlier last week on the official website, Kotak Mahindra Bank has announced that will reduce its marginal cost of funds-based lending rate (MCLR) for its benchmark one-year tenor by 20 basis points from 8.75 percent to 8.55 per cent. Tenors ranging from overnight to three years will also have revised rates ranging from 7.80 to 9.05 per cent. The revised rates will come into effect from 16th November 2022.
Inner Circle, a project undertaken by SILA in collaboration with JCK group and Top-Notch Realty has received its occupancy certificate. The project achieved record sales within three years of launching in 2019, selling over 95 per cent of its inventory even before completion. Located in the Saral neighbourhood of Alibaug, the project is situated on a 7-acre plot of land, Phase two is scheduled to begin in early 2023. It will span across 3 acres and include more than 40 units.
Nexus Select Trust has filled a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) last week in a bid to launch a retail REIT to raise $500 million. It will be India’s first rent-yielding retail REIT, with a portfolio of over 17 operational shopping malls comprising of 10 million square feet spread across 14 major cities. It includes Select Citywalk Mall located in New Delhi which is said to contain over 3,00 stores. The estimated value of the Trust’s assets is said to be around $3 billion.
Mumbai based Supreme Universal has announced a pre-launch of its ambitious Supreme Villagio project in Somatane, Pune. The luxury residential development will be situated in what is considered to be Pune’s greenest neighbourhood, with affluent localities such as Hinjewadi, Baner, PCMC and Talegaon close by. The project will span across 16 acres of land on a parcel located approximately 600 meters above sea level and include a host of amenities to give residents a feeling of living in a resort that they can call home.
Bengaluru based Puravankara has declared a net consolidated loss after tax of Rs 17.22 crores for the quarter ending September 30, 2022. Its profit after tax (PAT) for the same quarter was Rs 253 crores indicating a dip of almost 7 per cent when compared to the same period of the last fiscal year. The company has paid a final dividend of Rs 5/- per equity share for the fiscal year ending March 31, 2022, in September 2022 as authorized by the shareholders during the general meeting conducted in September 2022.
The State Bank of India (SBI) has increased its marginal cost of funds-based lending rate (MCLR) by up to 15 basis points across all tenors. The benchmark one-year MCLR, has increased by 10 basis points (bps) to 8.05 percent, up from 7.95 percent previously. The two-year and three-year MCLRs have increased by 10 basis points each to 8.25 per cent and 8.35 per cent, respectively. The one-month and three-month MCLRs have each been raised by 15 basis points to 7.75 percent. The overnight rate is higher by 10 basis points at 7.60%, while the six-month MCLR has increased by 15 basis points to 8.05%.
The Dharavi Redevelopment Authority (DRA) has received three bids for the mammoth Dharavi redevelopment project in Mumbai. Eight builders including entities from South Korea and UAE, along eleven PMC companies attended the pre-bid meeting. The three bids are from Mumbai based Adani Realty and Shree Naman Group and Delhi based housing construction company DLF. Adani Infrastructure has bid for the project in 2018 but lost out to Dubai based SecLink Group.
At the HDFC Real Estate Tech Innovator’s Challenge 2022 which was hosted in partnership with Invest India and Housing and Urban Affairs Minister Hardeep Puri, HDFC Capital backed H@ART platform announced that it had shortlisted 10 start-ups that it intends to fund and support. The finalists included companies focused on fintech, construction tech, sustainability tech and sales tech.
Bengaluru’s civic body BBMP is in a legal tussle with builders in the city over unpaid dues amassing to over 1,00 crores for land rent, licence fees, building licence fee, scrutiny fee and other such construction approvals. Collection was temporarily halted in August 2021 by a High Court directive. In January 2022, the Karnataka Municipal Corporation and Certain Other Law (Amendment) Act-2021 was revised to restart the collection process, but the amended law it yet to be implemented.
Bengaluru based Sobha Limited, has declared its earnings after tax (PAT) to be Rs 19.20 crore, indicating a dip of almost 70 per cent from Rs. 63 crores in the equivalent quarter of the previous fiscal year. The company's net consolidated income in the second quarter of FY23 was Rs 690.60 crore, down 11.52 percent from Rs 780.40 crore in the same quarter of FY22. Although profits dipped, the company claims to have had the highest-ever quarterly sales value of Rs 11.64 billion and the greatest operational revenue of Rs. 13.36 billion. The company also achieved an all-time sales price high of Rs 8,709/- per square foot.
Earlier this week Kotak Investment Advisors secured an anchor investment of USH 500 million from Abu Dhabi Investment Authority (ADIA) for its soon to be launched real estate Alternate Investment Fund (AIF). This will be the thirteenth real estate fund by Kotak aimed at raising USD 1 billion to invest across various realty asset classes and capital stack which will include both debt and equity investments. The fund is looking to focus on the residential sector. Kotak Investment Advisors and Abu Dhabi Investment Authority have a long-standing relationship and intend to foster relations in the future with such collaborative ventures.
As per recent reports published by CREDAI & Anarock, equity investments of USD 3.8 billion would be needed to meet anticipated demand of 223 million square feet of warehousing space in India. This calendar year, Grade A warehousing supply is said to have risen by a CAGR of 10.6 per cent. Experts believe the sector currently has over USD 900 million in the form of ‘dry powder’ funding from existing commitments signifying a latent investment opportunity of almost USD 2.8 billion.
The Bengaluru based fintech investment platform Bhive recently announced a reduction in its minimum investment threshold from 10 lac rupees to 5 lac rupees, along with attractive offers and discounts on limited units. Through its new initiative the company launched 500 units of commercial real estate space in ‘Brigade Metropolis’ in Whitefield, Bengaluru. The company claims to offer an average rental return of up to 10.5% per annum. Fractional ownership entities are not regulated by SEBI or any other investment authority in India.
In a BSE filling, during the three months that concluded on September 30, 2022, Prestige Estates Projects has declared a net consolidated income from operations of 1,475 crore rupees in Q2 FY23, up by almost ten percent the same period in the last fiscal year. Its profit after tax (PAT) stood at 149 crore rupees as opposed to 96 crore rupees it had recorded in the same quarter of the previous fiscal.
The famous Air India Building located in Nariman Point, Mumbai has few takers. The building was first handed over in 1970 on a 99-lease by the state to the then government-controlled airlines. In February 2013, as part of its asset-monetisation strategy, Air India relocated its corporate headquarters to New Delhi and vacated the property. Even though Air India requested bids for the sale of the 23-story structure in 2018, so far there are no takers. To revive talks, the bid has now been raised to 1,600 crore rupees.
As per reports published, Godrej Properties Ltd posted a net consolidated income of Rs 369.20 crore in Q2 FY23, up 10.47% from Rs 334.22 crore it earned in the same quarter the previous year. The company said in a BSE filing that its profit after tax increased to Rs 67.03 crore in Q2 FY23 from Rs 35.73 crore in the equivalent period of the previous fiscal year.
Bengaluru based Prestige Group is gearing up to complete and deliver their most ambitious project to date, the 32-acre Prestige Jindal City in Bengaluru. In a recent press release the company announced the launch of new projects in Bengaluru and Cochin. Prestige Willow Tree in Vidyaranyapura, Bengaluru will be a 6-acre residential complex and a 28-acre plotted land project called Prestige Park Drive will be developed in two phases near Bengaluru's Kempegowda International Airport. Prestige Hillside Gateway located in Kakkanad, Cochin will comprise of 4-bedroom luxury villas and 1 to 4 bedroom flats.
Earlier this month, the C Ward of the Brihanmumbai Municipal Corporation (BMC) lifted the stop-work notice issued against the Bhendi Bazar redevelopment project, allowing work to restart after a hiatus of over two months. The notice was first issued on the behest of deputy CM Devendra Fadnavis who requested an investigation into reports that the Saifee Burhani Upliftment Trust, which is carrying out the project, had altered the original designs, removed certain roads and changed the widths of certain highways and roadways. The same complaints were investigated in December 2021 by then acting deputy speak Narhari Zirwal, who had given the Trust a clean chit.
Keystone Realtors Ltd (KRL), which sells properties under the brand 'Rustomjee’, launched its initial public offering (IPO) on Monday, November 14, 2022. Investors will be allowed to subscribe till Wednesday, November 16, 2022. The Mumbai-based real estate developer has fixed a price band of INR 514-54/- a share. The company is looking to raise ?635 crore through the initial share sale, which consists of a fresh issue of equity shares aggregating up to ?560 crore and an Offer-For-Sale (OFS) worth ?75 crore by promoters. According to data from the NSE, on its first day the issue has been subscribed 8 percent.
In an announcement made at the annual ‘NATCON 2022’ event in YAS Island, Abu Dhabi, the Confederation of Real Estate Developers’ Association (CREDAI) has committed to collaborating with HDFC Capital to facilitate an investment of INR 5,000-10,000 crore rupees for affordable housing in non-metro cities such as Lucknow, Jaipur, Ahmedabad, Indore, Bhubaneswar etc. Additionally, the body claimed that over 13,000 member developers have taken a pledge to become 100 percent carbon neutral by 2050.
The Singhania family-owned realty firm Raymond Realty has recently topped the IndexTap Premier League Chart for the Thane region by selling over 200 units at a total approximate value of 348 crore rupees in their projects TenX Habitat and The Address by GS. As per reports published, the company received 120 bookings for their TenX Habitat project in Q2 FY 22-23.
The K Raheja managed Mindspace Business Parks REIT declared a growth of 16 percent year-on-year (YoY) at 417 crore rupees for Q2 FY 23. The company recorded a profit after tax (PAT) of 87 crore rupees in Q2 FY23 as against 130 crore rupees in the corresponding quarter of the last fiscal year. However, its net consolidated income stood at 686 crore rupees for the quarter which indicates a 60 per cent growth from 428 crore rupees recorded for the same period last fiscal year. As of 30th September 2022, its net debt stands at Rs 4,4650 crore, with a net debt to market value of 16.8% while the portfolio's gross asset value rose to Rs 27,300 crore in September 2022, a 3.3 percent increase YoY.
The real estate industry is witnessing a new wave of consolidation, as several large and listed companies look towards it as a means to improve liquidity and revenue generation. The current market demands reflect the homebuyers sentiment and frustration with regard to delayed deliveries and a lack of trust with new entities. By taking over smaller companies, larger entities are being able to stabilize bond yields and ensure timely delivery on account of improved liquidity.
In a proposal submitted to the Union Ministry for Environment, Forests and Climate Change (MoEFCC), the state government has request that draft coastal zone management plans for Palghar, Sindhudurg, Raigad, Ratnagiri and Thane be revised to allow individuals to build houses up to 3,000 sqft up to 50 meters fro the tideline for creeks, rivers and streams. The proposal has been accepted by CM Eknath Shinde and are in their final stages of approval. The state hopes that this decision will boost tourism.
According to Bloomberg, there are currently 20 million EVs in the world today, compared to just one million four years ago. Experts predict this number to increase to 71 million by the end of 2025. In such an environment, it is imperative that real estate developers and owners incorporate EV charging infrastructure into their existing and future ventures. Commercial real estate could become a critical player in providing charging stations or points for passenger vehicles.
The picturesque state of Goa in India is witnessing a boom in tenancy. Rentals for properties in popular destinations have risen by 25-30% in some cases, with the future looking even brighter. As per reports released by Savills India, rent and occupancy have climbed to as much as 8% p.a. in certain micro markets, an enormous difference from the country's average of 1.5-3%. Developers are cashing in by creating gated communities and properties to suit the growing needs.
The real estate private equity investment arm of HDFC, HDFC Capital Advisors has inked a deal with Mumbai based Shapoorji Pallonji Real Estate to invest over 1500 crore rupees via structured debt instruments into six projects spanning across 7 million square feet in Mumbai and Pune. The projects are a mix of affordable and mid-income housing located in Central Mumbai, Hadaspar and the outskirts of Pune City. The money will be used for repayment of high-cost debt, working capital and to ensure financial closure of the projects.
The largest mortgage lender in India, Housing Development Finance Corp, announced a 17.8% increase in second-quarter earnings on Thursday, helped by high house loan demand. Their profit increased from 37.81 billion Indian rupees a year earlier to 44.54 billion rupees ($537.2 million) in Q2 which ended on September 30. The interest revenue for HDFC increased by 24% to 131.43 billion rupees during the quarter.
The covid pandemic has been bittersweet for the Rajasthan Housing Board. A department plagued by financial woes was finally able to regain revenue through selling ready unsold inventory built up over the last couple of years. They made a staggering 2378 crore rupees in 2021–2022, up from a little over 100 crore rupees in 2018–2019, primarily from the sale of more than 16000 residential units and nearly 3000 shops throughout the state.
Earlier this week Shriram Properties reported a 27% increase in their sales booking to 747 crore rupees for the quarter ending September 30 2022. Comparing the second quarter of FY23 to the first, the aggregate sales value increased by 39% to Rs 435 crores.
The court also ordered DLF Homes to complete the sale deed for unit number A-1/33-GF, which covers a space of 282.017 square meters (3,035.60 square feet), in Anita Singh's favor, within 30 days. However, it has been made clear that the 30-day timeframe will start when the complaint pays the stamp duty and registration fees that are necessary for the sale deed to be registered if she has not already done so.
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