National Real Estate Development Council
Recovering from decades of being at the mercy of real estate developers, home buyers are now employing collective efforts in a bid to avoid getting duped. The recent Supertech and DLF cases, are just two such examples. Prior to this, real estate majors faced little resistance with respect to project activities. Home buyers are now [...] Continue Reading »
If the prediction of below-normal monsoon by India Meteorological Department (IMD) this year turns out to be true then the availability of unskilled and semiskilled labour for construction and real estate sector is likely to increase. Monsoon is the main source of irrigation in agriculture which supports over 50% of the Uttar Pradesh population. Around [...] Continue Reading »
The Supreme Court’s decision to remove the forest tag from huge tracts of land spread over Mumbai, has brought respite more than five lakh residents. The apex court has quashed all prior notices and orders regarding encroached forest land issues, in the last nine years, about the various areas bordering the Sanjay Gandhi National Park in [...] Continue Reading »
The Finance Ministry is mulling an option of allowing the long-term funds from such funding institutions to help housing finance companies (HFCs) overcome the asset liability mis-matches. These funds can be channelized to the housing sector either by allowing them to lend to HFCs, or permitting them to invest in Residential Mortgage Backed Securities (RMBS) [...] Continue Reading »
The Union Cabinet’s nod to the Real Estate Regulatory Bill has made buyers feel happy and secure; on the flipside, some of its provisions have left the developers panicking. Views of MHUPA Ajay Maken, minister of housing & urban poverty alleviation, said that the bill provides for a uniform regulatory environment to protect consumer interests [...] Continue Reading »
New Delhi- Reserve Bank of India (RBI) has announced reduction in short-term lending rate by 0.25 percent to 7.75 per cent. This move is expected to lead to reduction in interest rates for buyers and builders. RBI has also cut Cash Reserve Ratio (CRR) to 4 percent, releasing Rs 18,000 crore primary liquidity into the [...] Continue Reading »
New Delhi- Housing sector is likely to gain infrastructure status with the upcoming Budget. This will boost the sector by providing easy access to funds and consequently increasing the availability of houses. Infrastructure status for the housing is a long pending demand. In 2012, the Ministry of Housing and Urban Poverty Alleviation (MHUPA) pushed for [...] Continue Reading »
New Delhi- Real estate being beaten by decreasing demand owing to high interest rates and economic slowdown has demanded for infrastructure status for the housing sector in the Budget for 2013-14. If given the infrastructure status, the sector would gain of tax benefits and easier flow of funds. At least the affordable housing sector should [...] Continue Reading »
During National Real Estate Development Council convention held on 8th December, Chairman and Managing Director of National Housing Bank (NHB), R V Verma announced his thought to support Housing finance institutions by providing a loan of Rs 17,000 crore from July to next year June shortly. Housing finance companies aim to finance individuals’ home loans [...] Continue Reading »
The National Real Estate Development Council opposed the Land Acquisition Bill saying it should not be applicable to private builders as it will impact development of infrastructure across the country. The builders group feels that the suggestion by the Parliamentary committee will impact the infrastructure, industrial and township development program in the country. Setting tough [...] Continue Reading »
