Delhi-NCR
Federation of Noida Residents Welfare Association (FONRWA) has written a letter to Noida Chief Executive officer demanding conversion of leasehold to freehold and raising other unresolved issues. FONRWA says that although state government had introduced conversion to freehold and all housing boards, including Ghaziabad Development Authority, Noida authority officials were not implementing the conversion in [...] Continue Reading »
The government plans to bring unorganised property agents and brokers under the purview of the proposed real estate regulatory bill. According to sources in Ministry of Housing and Urban Poverty Alleviation, a chapter has been included on real estate agents in the Real Estate (Regulation and Development) Bill. Unlike most nations, property brokers in India [...] Continue Reading »
The Competition Commission of India (CCI), is putting around 70 real estate developers in the country under scanner. The developers include big players like Unitech, Parsvnath Developers and Omaxe and several big builders in Mumbai. All these developers’ action for entering into one-sided agreements with buyers and for allegedly colluding with each other have been [...] Continue Reading »
Gurgaon IT/ITeS and BPO professionals are driving home demand in West Delhi. According to consultancy firm Jones Lang LaSalle (JLL), most potential customers belong to the salary bracket of Rs 12 lakh to Rs 24 lakh per annum. Since infrastructure facilities in Gurgaon still has a long way to go, they are looking to buy [...] Continue Reading »
In an anti-encroachment drive, the Greater Noida Industrial Development Authority flattened houses occupying nearly 40 acres of government land valued around Rs 2,000 crore. The Authority’s anti-encroachment cell, along with the Gautam Budh Nagar sub-divisional magistrate (Dadri) and district police, removed unauthorised occupations from a green belt running adjacent to Haibatpur. Around 3,000 illegal structures [...] Continue Reading »
Farmers of villages along Noida Extension has vented their anger against developers and demonstrated against construction. The farmers have alleged that the Greater Noida Authority has not carried out its part in providing 10 per cent developed plots and 64 per cent hiked compensation to the farmers. They complained that the issue of abadi land [...] Continue Reading »
Developers in Noida Extension have sent a letter to the Greater Noida Authority to clear the relief being offered to them buyers can be benefitted and home sales start soon. Loan processing by banks is expected to start soon so that buyers can avail funds to buy homes. Meanwhile, Confederation of Real Estate Developers Association [...] Continue Reading »
The traders of Connaught Place in New Delhi have stated that they are facing up to 70 per cent losses in business due to municipality work going on in the area. The traders have asked the New Delhi Municipal Corporation (NDMC) to increase their property tax rebate by 30 per cent. Currently, the traders in [...] Continue Reading »
Real estate continues to remain top option for Indian investors. Capital appreciation, rent and protection from inflation drive real estate investment and citizens go for second property for all these advantages. A recently conducted survey in Delhi/NCR, Mumbai, Bangalore, Hyderabad, Chennai, Ahmedabad, Kolkata, Pune, Chandigarh, Kochi, Coimbatore and Jaipur shows that out of 1,430 respondents, [...] Continue Reading »
The real estate firms are revisiting strategies for development in India’s smaller cities. Various firms have been pursuing varied strategies on the backdrop of a realty slowdown. Some large developers are sticking to bigger cities while discontinuing project plans in smaller towns. Some firms are switching from premium to affordable homes to generate sales and [...] Continue Reading »
