Real estate sector in India
The real estate portal Commonfloor has released a list of the top ten Indian cities on the basis of maximum expected growth after the formation of the new government. The cities on the list are Bhiwandi, Ghaziabad, Indore, Jaipur, Ahmedabad, Nashik, Lucknow, Kochi, Vijayawada, and Vadodara. The real estate sector in India, which was undergoing [...] Continue Reading »
The government is likely to come up with a Real estate Bill, which is pending in the parliament since 2009. The sector is in urgent need of this bill as the industry is known for foul business and less transparency are practiced widely. The real estate sector contributes five to six percent of the country’s [...] Continue Reading »
Pragnya Advisors Pvt. Ltd has invested around Rs 27.5 crore in Bangalore in a Habitat Ventures project and another $5 million in an office space development in Colombo, Srilanka. Pragnya has two real estate-focused funds. The first fund of $40 million was distributed across seven transactions and money from the $50-million second fund is being [...] Continue Reading »
New Delhi- Owing to delay in initiating projects, prices of properties in India have shot up by 40 percent, reports Economic Survey 2013. Before the construction activity of a project has to be started, the builder of the project has to complete 34 procedures to get clearances which would take at least six months time [...] Continue Reading »
The Government of Haryana is now looking forward to set up the Real Estate Regulatory Authority so that the real estate sector continues to boom and also to prevent the unscrupulous realtors from targeting the property buyers. According to sources, Gurgaon developers said that regulatory bill is a complicated long procedure. This new regulation will lengthen [...] Continue Reading »
The Real Estate Regulatory Authority Bill will be introduced before the parliament during the Budget session, said Ajay Maken, Housing and Poverty Alleviation (HUPA) minister. However, the proposed bill faced objections from real estate bodies and industry pressure groups. Realty bodies like CREDAI and NAREDCO have opposed the real estate regulatory bill stating that the [...] Continue Reading »
Developers are expecting a positive future for the real estate sector this year with the government’s plan to give the sector favourable policies and industry status. The real estate sector has eagerly been waiting for the industry status. However, there is an increased demand for the industry status because of the growing demand with limited funds, less [...] Continue Reading »
2012 was a challenging year for both the home buyers and developers. Certain issues which the real estate market has witnessed in 2012 may continue this year because Delhi-NCR and Mumbai Metropolitan Region are struggling with less property sales due to unaffordable property prices. He added that the new rules for classification of restructured loans have led [...] Continue Reading »
Due to government’s positive approach towards reforms and moderation of interest rates, the real estate may have a kick start in 2013. In 2013, the land acquisition bill and real estate regulation bill are likely to be passed by the government which will bring back the hopes of growth in the real estate sector and [...] Continue Reading »
A real estate developers’ body requested the Maharastra Government to reduce the ready reckoner rates that form the basis for stamp duty as the stamp duty is expected to rise from January. The government should revise the stamp duty rates effective from January 01, 2013. Paras Gundecha, president of Maharashtra Chamber of Housing Industry and [...] Continue Reading »
