Delhi-NCR
In order to address issues plaguing the real estate sector, Finance Minister P Chidambaram on Saturday asked help from Indian bankers. He has asked Indian Bankers Association (IBA) to form a committee to advise the government on tackling the slowdown in the housing demand. He stated that various issues facing the real estate sector need [...] Continue Reading »
Prime Minister Manmohan Singh has announced the launch of a home loans scheme – Rajiv Housing Loan Scheme. It will provide interest subsidy on home loans of less than 5 lakh. The new housing loans scheme is aimed at the urban poor of the country. The new scheme was announced on Independence Day. The PM [...] Continue Reading »
Real estate major Unitech Ltd registered decrease in sales by 31 per cent in Q1 as compared to the year-ago period. While the company sold properties worth Rs 701 crore during the first quarter of this fiscal, they had registered a sales booking of Rs 1,020 crore during April-June quarter of last fiscal. Unitech sold [...] Continue Reading »
Around 20 allottees recently got possession of their HIG Dwarka flats built under Delhi Development Authority (DDA)’s 2010 housing scheme. However, the ‘ready-to-move-in’ flats are still devoid of basic facilities like water, electricity connections and roads. Of the 930 high-end flats in the complex, 217 are still under construction. Though DDA officials had claimed that [...] Continue Reading »
The Noida authority has shown the green light for the construction of Wave Group‘s City Center, one of India’s biggest mixed-use residential and commercial developments. Wave Group has brought in the very best in the world with well-known international consultants like SOM, IMXD, FORREC, AECOM, ARUP, and NOSTRI on board to guide this urban development [...] Continue Reading »
Statistics suggest that there is a wide gap between the demand in supply of housing – both in terms of quality and quantity, in urban India. Technical Group constituted by the Ministry of Housing and Urban Poverty Alleviation (MHUPA) reveals data that shows that the urban housing shortage in the country at the end of [...] Continue Reading »
A decision has been taken that a team of councillors of the Municipal Corporations along with officials is all set to visit different cities in order to find the most suitable technology for setting up a sewerage treatment plant in the cities. The team will be visiting Mumbai and Delhi to observe the functioning of [...] Continue Reading »
DLF, India’s biggest property developer, is closer to meeting its debt reduction target after it agreed to sell its plot of land in Mumbai for Rs 27 billion ($488 million) to Lodha Developers. The Delhi-based developer said it had received an advance payment of Rs 5 billion for the plot from Lodha and would receive [...] Continue Reading »
Property tax for the commercial properties located within a radius of one kilometres from a Metro line may soon see a hike, however residential properties will be spared from the hike. All five-star and three-star hotels, private hospitals and industrial areas in the city will also be brought under the same tax net. Leaders of [...] Continue Reading »
Mumbai has fallen in the mortgage market rankings as record real estate prices keep customers away, say realty and home finance executives. Pune and New Delhi have overtaken India’s financial capital with steady demand, while Mumbai has fallen to third or fourth position for housing finance. Mumbai used to be number one in the real estate market, but not many new projects [...] Continue Reading »
