Developers
The critical issue for realtors over the next 12 months would be to ensure their debt load doesn’t enlarge, especially since fund availability is constrained and many loans are coming up for repayment in this fiscal. In the context, a good traction in sales becomes another crucial imperative. Developers are finding it tough to generate [...] Continue Reading »
The senior town planner (STP) has asked the district town planning department and the Haryana Urban Development Authority (Huda) to deploy officials for conducting surveys and submitting reports on the violation of construction norms in buildings having flats for the economically weaker section (EWS) at the earliest. The STP has written to nine developers — [...] Continue Reading »
Many flats which were built in the Commonwealth Game (CWG) Village have exceeded their sanctioned floor area ratio (FAR) after construction. The Centre will give its nod to flats only after developers pay the penalty for extra construction apart from FAR. Those flats which have exceeded by 5% of the sanctioned FAR are compoundable and [...] Continue Reading »
A 1,500-sq-ft flat can grow to 2,500 to 4,000 sq ft and cost Rs 10 crore to Rs 16 crore. The main intention is to amalgamate extra spaces with the original carpet area to create one large flat. Law-abiding citizens who buy such flats become criminals and, therefore, corrupt civic officials can keep returning to [...] Continue Reading »
One day after the Allahabad High Court order of quashing the land in Patwari it was revealed that around 50,000 private housing units were proposed to be constructed in the Patwari area and according to developers, around 20,000 bookings have already been made by the buyers in the area. Developers have reiterated that the “fault” [...] Continue Reading »
Addressing a press conference at Noida, representatives of the Confederation of Real Estate Developers’ Association of India (CREDAI), Western Uttar Pradesh Chapter, said that all those who had booked houses in the affected projects would get back their money, including the cost incurred as home loan interest, if they so desired. The builders and developers [...] Continue Reading »
International Finance Corporation (IFC) is strengthening its affordable housing team in India. Senior investment and property development managers and green specialist from its global office are expected to join the Indian arm by August. The low-cost housing initiative is currently headed by Subrata Dutta Gupta who was earlier involved in IFC’s housing finance business. It [...] Continue Reading »
In an interaction with Business Standard, UK-based JLL chief marketing officer Charles Doyle said ‘safeguard reputation management’ using the social media and networking tools would help Indian developers project their brands and businesses in a transparent manner. A recent survey had shown that Indian real estate was perceived as the most corrupt of sectors, citing [...] Continue Reading »
