Delhi NCR
In a move to make the building plan sanctioning procedure hassle-free, Municipal Corporation of Delhi (MCD) is soon going to make the process online, but in a phased manner. From August, Delhiites can get their building plans sanctioned online and that too within seven working days. “Unlike now, when owners have to go and submit [...] Continue Reading »
So far Haryana government has only issued circulars to private developers guidelines to follow while issuing advertisements. It is yet to issue a public notice.Earlier the government had said a proper notification would be published so that the common man has access to contact details of officials whom they can notify in case these norms [...] Continue Reading »
Builders are tapping domestic PEs and NBFC to raise cash as banks turn wary of financing construction projects. Under a receivable financing deal, which is generally for 12-18 months, money generated through installments paid by home buyers is put in an escrow account by the builder and used only for repayment to the lender and [...] Continue Reading »
Property prices in seven cities across India dropped by 2.63 per cent to 17.6 per cent during the January to March quarter, according to the latest data released by the National Housing Bank (NHB). As demand came back with gradual economic recovery in India, realtors, some of whom were facing severe debt problems, started raising [...] Continue Reading »
The builder lobby which has till date cocked a snook at the Civic Body’s attempts to stop malpractices in the real estate sector, will now have a tough law to deal with. Monsoon session may see a policy that imposes stricter punishment on builders who quote built-up area prices, developers are not amused. This monsoon [...] Continue Reading »
PropEquity, an online data and analytics search platform, has conducted an extensive study of the construction delays in real estate projects and the impact on the industry. Data points covering over 10,000 projects being executed by over 1,500 developers across 11 cities in prime residential locations have been studied to arrive at the trends contained [...] Continue Reading »
Haryana government had said a proper notification would be published for guidelines for private developers to follow while issuing advertisements. Even a month after the Haryana government announced guidelines it is yet to issue a public notice. The public notice would be published so that the common man has access to contact details of officials [...] Continue Reading »
Municipal Corporation of Delhi (MCD) on Thursday demolished illegal portions of 29 properties in south Delhi. Continuing its drive against encroachment, 29 properties were razed in localities such as Satyaniketan, Malviya Nagar, Chhatarpur Extension, Chhatarpur Enclave and other areas of under its jurisdiction. After demolition, a report of these properties was sent to the discoms [...] Continue Reading »
According to a research report by Crisil Research, large builders like DLF, Unitech, Parsvnath, Omaxe, Ansals and Emaar MGF have already diversified into smaller cities of the country. The cities like Bhopal, Bhubaneswar, Coimbatore, Indore, Jaipur, Lucknow, Nagpur, Surat, Vadodara and Visakhapatnam are expected to add 354 million sq ft of residential development in the [...] Continue Reading »
Market regulator SEBI on June 23 had directed two Sahara group companies — Sahara India Real Estate Corp (SIRECL) and Sahara Housing Investment Corp (SHICL) — to refund the money raised from investors through optionally fully convertible debentures (OFCDs) with an annual interest of 15 per cent from the date of receipt of money. Sahara [...] Continue Reading »
