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Realtors’ path to UP’s ‘zero-period’ interest waivers just got tougher

December 14, 2019

The Greater Noida Industrial Development Agency (GNIDA), under whose jurisdiction are the housing projects in Noida Extension where land acquisition cases had stopped work, has spelt out these conditions.

Minimum 100 home buyers needed for insolvency plea against builders

December 13, 2019

As per the IBC bill, pending applications by home buyers against developers, which have not been admitted will have to meet the new requirements within 30 days of commencement of the Act, failing which the application shall be deemed to be withdrawn.

South Mumbai bungalow sale may fetch up to Rs 100 crore

December 11, 2019

The plot has development potential of about 18,000 sq ft to 22,000 sq ft depending on the proposed usage, said property brokers operating in South Mumbai.

Wealth of top 100 Indians in real estate sector is up by 17%: Report

December 10, 2019

Mumbai accounted for 6 of the top 10 and 37 of the 100 names being its residents. Delhi and Bengaluru accounted for 19 residents each featured on the list. Almost 75% of the richest Indians from the real estate are based in these three cities.

Mumbai luxury home prices likely to fall by 1% in 2020 as buyers tread cautiously: Report

December 9, 2019

Buyers of prime residential properties in Mumbai are expected to remain cautious due to deteriorating economic environment impacting market liquidity and an additional 1% stamp duty being levied by the Maharashtra government, Knight Frank said.

Jaypee Infratech auction: Homebuyers' voting on hold

December 6, 2019

Over 22,000 Jaypee Infratech homebuyers had opted for internal voting that started on Wednesday, but it was put on hold after some buyers raised objection on the legality of it. The buyers have also approached the Insolvency and Bankruptcy Board of India regarding the internal voting issue.

Noida standing committee to assess projects applying for zero-period waiver

December 5, 2019

On Tuesday, UP government had approved the zero-period policy under which builders will be excused from paying interest on outstanding land dues for the years when litigation stopped construction work.

Jewar airport to put Noida’s commercial real estate market at par with Gurgaon

December 4, 2019

“We are in touch with Nasscom to showcase Noida better and change the perception of law and order among IT and software companies,” said Geetamber Anand, chairman of Noida-based ATS Group.

Despite demonetisation and RERA, builders still asking for cash

November 25, 2019

A recent survey based on over 50,000 responses received by Local Circles, a community platform, pointed out that cash continues to dominate the real estate market despite the demonetisation of high-value currency notes three years ago.

Senior living projects to thrive more in tier-2 cities

November 22, 2019

A growing number of senior living projects are coming up in tier-2 cities on account of availability of affordable land parcels, presence of social amenities, and improving health services standards.

Flexible space take-up in India touched 2 million sq ft in Q3: Report

November 21, 2019

Bangalore dominated the flexible space stock with 7.8 million sq. ft., followed by Delhi-NCR and Mumbai, with 6.7 million sq ft and 4.6 million sq ft, respectively.

Aadhaar-property linking not an easy road: Experts

November 20, 2019

The Supreme Court in September last year had upheld the Constitutional validity of Aadhaar, making it a legal proof of identity and address for over 1.2 billion holders.

Listed realty builders saw a mere 2% jump in housing sales value in Q2FY20

November 20, 2019

“We are clearly seeing the emergence of strong, organized players whose strengths are amplified, rather than diminished, by the newly regulated market environment. Even the most conservative industry estimates indicate a staggering number of developers in the top cities who have been either wiped off the map, or have merged with organized developers after DeMo and RERA.”

New Delhi 9th fastest growing global prime residential market; Bengaluru, Mumbai in top 30: Report

November 19, 2019

While New Delhi and Mumbai have moved up by one and two places, respectively, from 10th and 30th ranks in the previous quarter, Bengaluru has slipped five places to 20th rank in September quarter.

Housing sales of 9 listed players up 2% at Rs 5,520 crore in July-Sep: Report

November 19, 2019

"While housing sales in overall residential market recorded a decline in Q2 FY20, the housing sales value of India's top 9 listed developers remained steady during the quarter," said Anuj Puri, Chairman, Anarock.

Credai asks Karnataka govt for package to revive realty

November 18, 2019

The industry body also asked the state government to reduce stamp duty substantially up to September 2020, to exhaust unsold inventory and bring down the same to 1% for affordable homes.

Realty hot spot series: This Kolkata locality is an upcoming residential hub

November 11, 2019

Good connectivity, proximity to offices make this area in Kolkata attractive to buyers. The locality has many renowned schools, hospitals, shopping malls and other recreational places. The nearest railway station is 16 km away.

Construction ban may delay Delhi-NCR projects

November 11, 2019

Environment Pollution (Prevention and Control) Authority, or EPCA, had last Tuesday imposed construction ban till Monday when further decision will be taken depending on the situation. Even if the ban is lifted soon, reorganising labour will be a difficult task and several projects in the NCR will have to push their deadline further, developers said.

Housing sales of 9 listed players up 11% in Q1 to Rs 5,300cr; momentum to continue in FY20: Anarock

November 11, 2019

In 2016-17, the new launches by these nine listed players in top seven cities comprised 5 per cent share of the overall launches, this share increased to 10 per cent as on 2018-19 and will increase steadily.

Unsold flats worth Rs 1.4L crore hold the key

November 7, 2019

Estimates by the finance ministry showed that constructing the entire stock of houses in 1,600 projects, many of which are in standstill state, will require over Rs 50,000 crore and this number could go up. Not all of them will be commercially viable.

Delhi-NCR realtors enter into joint ventures to tide over cash crunch

November 6, 2019

A JV or development management agreement puts a large developer in the driver’s seat as the new entrant gains control of the new entity. Additionally, the established developer’s track record and ability to maintain cash flows help bolster project execution and marketing.

OTP-based property registrations soon in Karnataka

November 5, 2019

The Department of Stamps and Registration is geared up to roll out the new system based on one time password (OTP) across Karnataka in about two weeks.

Rera authorities may seek powers to attach projects of errant builders

November 4, 2019

Real estate regulators from across states have gathered in Lucknow and sources said they would push for amendments in the Real Estate Regulation and Development Act (Rera) to give them more teeth, particularly to execute orders passed by them.

Housing sales drops 9.5% in July-Sep across 9 cities: Report

November 4, 2019

Sales stood at 52,855 units during July-September 2019, down 9.5% from 58,461 units in the year-ago period. "Demand has been definitely impacted in the last quarter with buyers delaying their decisions," Samir Jasuja, founder and MD, PropEquity said.

Unsold housing inventory reduces by 27% in Noida, Greater Noida, Ghaziabad: Report

November 4, 2019

The collective unsold stock in these cities of UP had declined by 26% - from 1,31,150 units in Q3 2017 to approx. 97,270 units by Q3 2019 end.

Trump Tower builder in Mumbai dumps luxury for cheap homes as India slows

October 22, 2019

Macrotech Developers, earlier known as Lodha Developers, is also looking to increase contributions from so-called affordable housing to about 50 per cent of revenue over the next three to four years from 40 per cent.

How to check the construction quality of your house

October 22, 2019

Section 14 of the Real Estate (Regulation and Development) Act, 2016, clearly lays down that it is the promoter’s responsibility to rectify any structural defect within a period of five years. Here is a checklist for homebuyers.

Noida Authority to execute registry of over 450 Amrapali Sapphire flats

October 18, 2019

Of the 42,000 Amrapali flats sold so far in multiple projects, some 14,000 are currently occupied by homebuyers. Sapphire I flat owners are among the first ones lined up for registration. There are 1033 buyers in Sapphire I.

Delhi High Court seeks UIDAI's stand on plea to link property with Aadhaar

October 16, 2019

The court also asked the Centre and the Delhi government to file their response, which they had not despite issuance of notice to them on July 16.

NSA against builder who developed, sold maximum illegal flats in Shahberi

October 15, 2019

"The message is clear. Strict action is being taken against rogue builders involved in illegal operations."

Three months after Supreme Court order, 14,000 Amrapali home buyers await registration

October 14, 2019

Some buyers in Amrapali Sapphire, who queued up for the registration process and have submitted documents to verify their ownership, claimed that the wait has dragged on longer than expected.

Over 11.09 mn vacant houses across India have high potential for rental market: Report

October 14, 2019

Of the total vacant housing stock, around 78% or 8.64 million units are in 10 states and Union Territories, showed a Knight Frank India and Khaitan & Co report.

UP RERA threatened to impose Rs 371 lakh fine for not giving possession

October 11, 2019

UP RERA has identified 397 projects in the NCR region of several promoters where the compliance of the court orders regarding possession are not being followed.

To speed up deliveries, Noida may allow registry of flats without NOC

September 23, 2019

The plan was discussed in a meeting between officials of the district administration and the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) on Saturday.

To refund home buyers, Rera to auction unsold flats of defaulting builders

September 20, 2019

While Rera benches have taken several steps against defaulting builders, this is perhaps the first time that such a move has been announced under the new real estate law.

Govt's fund will help complete up to 2.5 lakh housing units in 7 major cities

September 17, 2019

In the fund, Rs 10,000 crore will be contributed by the central government and roughly the same amount will come from outside investors.

What to do with unsold Amrapali flats, SC asks NBCC, others

September 13, 2019

The top court also warned that the home buyers' unwillingness to pay the outstanding dues may lead to winding up of the stalled projects due to financial crunch.

Realty Hot Spot Series: Want to buy a house in NCR? Consider this well-connected Noida locality

September 9, 2019

This NCR region well-connected to key areas of Noida and Greater Noida through the Expressway and Aqua Metro Line.

Major relief to stressed realty sector on the anvil

August 28, 2019

The government is also likely to make changes to the definition of affordable housing as sought by developers.

Only 23 housing projects launched during Apr-Jun quarter under subvention scheme: Report

August 19, 2019

These 23 projects comprised of 7,620 units – about 11 per cent of the total 69,000 units launched in the quarter.

Property insurance rates may spike

August 16, 2019

Severity of disasters, which are taking place at shorter intervals, has prompted insurers to consider hiking rates in April 2020, when policies come up for renewal.

Special cell to deal with cases of Amrapali homebuyers

August 13, 2019

The court also warned that officers of Noida and Greater Noida will be sent to jail if there was any delay on their part in handing over possession of flats to buyers.

Home buyers welcome SC ruling, say move to help claim dues

August 10, 2019

There are around 1.74 lakh stalled housing units across the top seven cities and their buyers can now stake claims to their dues by initiating insolvency proceedings against the errant developers.

DDA to refund unsuccessful candidates' money in a week

August 9, 2019

Necessary instructions have already been issued to the designated banks to ensure refund of registration amount to the unsuccessful applicants within a week.

RBI Monetary Policy: Repo rate cut to boost affordable homes sales

August 7, 2019

Property builders hope the current rate cut would translate into lower EMIs on housing loans and will aid the sluggish property market.

House delayed, home buyer can’t be forced to take possession: SC

August 6, 2019

Home buyers are justified in seeking a refund for a house even if the delayed project is ready, the Supreme Court has ruled.

Jaypee crisis: SC restricts fresh bidding for Jaypee Infratech, for 2 weeks

August 2, 2019

The Supreme Court, on August 2, 2019, ordered status quo for two weeks, on Jaypee Group’s plea against the NCLAT order, which allowed fresh bidding for debt-laden Jaypee Infratech. A bench of justices AM Khanwilkar and Dinesh Maheshwari ordered the status quo, after the apex court was informed that Parliament had passed the proposed amendments in the Insolvency and Bankruptcy Code. “We have not seen the amendment, let it come and we will see,” the bench said.

Jaypee homebuyers still hoping for dream houses

August 1, 2019

While the SC has ordered early addressing of similar problems faced by home buyers of Amrapali and Unitech projects, buyers of Jaypee continue to wait for end to their woes.

SDMC spooks houseowners, says furnish completion certificates or face action

July 31, 2019

Notices are being issued irrespective of age of the building or period of construction with the South Delhi Municipal Corporation casting its net wide.

Karnataka RERA resolved 30% complaints against builders

July 26, 2019

According to data sourced from RERA-K, around 2,700 complaints are being heard currently and will be resolved at the earliest.

RERA notified in 30 states, 42,000 projects registered: Centre to SC

July 25, 2019

Rera is not applicable in Jammu & Kashmir but the state has notified its own legislation.

Legal rights of a married daughter over ancestral property

July 22, 2019

​​The marital status of the daughter is immaterial, and a married daughter has the same rights as an unmarried one.

Realty Hot Spot Series: Why this premium South Delhi locality is much sought-after

July 22, 2019

South Delhi's Saket is a premium micro-market comprising quality residential, high-end retail and commercial offices.

Housing sales down 11 per cent in Q1; Demand to rise on tax sops: PropTiger

July 22, 2019

New housing supply fell 47 per cent to 37,852 units in April-June 2019-20 across nine cities due to a liquidity crunch and general elections.

‘No one’s thinking of the homebuyer’

July 17, 2019

Flats in Wish Town were booked mostly between 2008 and 2009 and should have been ready by 2011-2012. However, the deliveries stopped after the first 5,000 units.

Mumbai Coastal Road: HC quashes CRZ clearance for project

July 16, 2019

The Bombay High Court, on July 16, 2019, quashed the CRZ clearances granted to the city civic body’s ambitious Rs 14,000-crore Coastal Road project. The court’s ruling means that the Brihanmumbai Municipal Corporation (BMC) cannot continue work on the 29.2-km-long project, proposed to connect Marine Drive area in south Mumbai to suburban Borivali in north Mumbai.

Property prices have fallen slightly in most major Indian cities in past one year: Report

July 15, 2019

The latest report by a real estate research firm suggests that slack demand, huge inventories and stringent regulations have kept home prices low across major Indian cities.

Realty Hot Spot Series: This Ahmedabad locality is well-developed real estate market

July 15, 2019

This developed micromarket is close to key business areas and educational institutions.

Draft Tenancy Act faces ire of commercial property owners

July 13, 2019

The umbrella entity of affected landlords also alleged that the government was applying old tactics of divide and rule.

Over 20,000 complaints of home buyers resolved under RERA: Govt

July 12, 2019

According to the Union housing and urban affairs minister, 20,125 complaints of home-buyers have been disposed off under the real estate law.

Builders to face separate trials on victims’ complaints: HC

July 11, 2019

In such cases, many people are left in the lurch if the sole complainant withdraws the case or reaches a settlement with the builder/accused.

Law amended to help homebuyers, SC told

July 10, 2019

Real estate companies have challenged the validity of Section 5(8)(f) of the IBC, 2016 which ensures inclusion of homebuyers as financial creditors.

Refund home buyers for delays with interest equal to home loan rate: NCDRC

July 9, 2019

The apex consumer commission has said builders have to pay compensation and litigation cost to home buyers who seek refund.

Refund home buyers for delays with interest equal to home loan rate: NCDRC

July 8, 2019

The apex consumer commission has said builders have to pay compensation and litigation cost to home buyers who seek refund.

Budget 2019: Housing and Urban Affairs Ministry gets Rs 48,000 crore

July 6, 2019

Mass Rapid Transit System (MRTS) receives an allocation of Rs 19,152 crore - an almost 23 percent increase over last year. Delhi Metro gets a grant of Rs 414 crore - an almost eight-fold increase from 2018-2019.

Union Budget 2019: Live updates

July 5, 2019

Prime minister Narendra Modi described the Union Budget as citizen-friendly, development friendly and future oriented and one which will empower the poor and provide better future to the youth.

What makes a real estate investment yield returns?

July 4, 2019

While buying property, investors have high aspirations in terms of returns. Be it residential or commercial, one must consider a long-term horizon for good returns.

Housing loans insurance has been launched: Finance Minister

July 3, 2019

Insurers can charge single or regular premiums and issue policies to banks desirous of covering the risk of death on the lives of borrowers.

Realty Hot Spot Series: What makes this established Ahmedabad locality a good place to buy a house

July 1, 2019

The locality has a strong road network comprising 132 Feet Ring Road, 120 Feet Ring Road, 100 Feet Road, Netaji Road and Paldi Road.

Co-living and co-working offer new opportunities for real estate

June 29, 2019

According to a joint report by JLL-FICCI, co-working market already accounts for 12% of the office leasing market in the first quarter of CY2019 up from 8% in 2018.

Multiple snags trip property tax portals, filing deadline extended

June 28, 2019

Property tax portals of civic bodies are facing multiple glitches. While north and south civic bodies are witnessing technical issues, east corporation’s site had to be shut down.

Multiple snags trip property tax portals, filing deadline extended

June 27, 2019

Property tax portals of civic bodies are facing multiple glitches. While north and south civic bodies are witnessing technical issues, east corporation’s site had to be shut down.

NAREDCO calls for boost to rental housing in upcoming budget

June 18, 2019

NARDECO has suggested that a 10-year tax holiday be given to real estate developers on profits earned from rental housing.

Realty hot spot series: This Ahmedabad locality boasts of good social, retail infrastructure

June 17, 2019

This week, we look at Prahlad Nagar in Ahmedabad. With numerous properties available under all budgets, here is all that that makes this locality a realty hot spot.

Minimum registration fees down by MahaRERA, rural areas to benefit

June 14, 2019

The change has been effected in accordance with the amended rules issued by the Maharashtra Housing Department on June 6, MahaRERA officials said.

Maharashtra RERA: No advertisement expenses in construction costs

June 14, 2019

Amended RERA rules ensure there is more money available for completion of projects.

Setback for Jaypee buyers in plan to shore up votes for NBCC bid

June 7, 2019

The decision will lead to further uncertainty in the resolution process of Jaypee Infratech, the real estate company behind ambitious projects like Wish Town that has fallen into bankruptcy.

NRIs interest in under-construction properties revives post RERA:

June 4, 2019

A stronger dollar has renewed NRI interest in India's property markets, the report said, adding that the leads and visits on Housing and have improved by 30-40 per cent from last year.

Which Indian city saw the highest increase in property prices over the last 5 years?

June 3, 2019

Property prices have appreciated over longer terms, even as short-term growth has been sluggish. The long-term trend in home prices is encouraging for investors.

Affordable housing witnesses a revival owing to multiple tax benefits

May 31, 2019

According to a recent CII-ANAROCK survey, it was found that nearly 55% of the net affordable housing supply came from Delhi-NCR and the Mumbai Metropolitan Region (MMR). Industry experts opine that the major reasons for this rise in supply, are the rising population in these two metros leading to increase in demand and the tax sops for affordable housing. The union budget 2019 has also provided ample opportunities for the home buyers to invest.

Gaurs group sells over 10K housing units for nearly Rs 4000 crore

May 30, 2019

Around 7,500 units were in residential segment and rest in commercial. The bulk of the sales were in two township projects in Noida Extension and Yamuna Expressway in Uttar Pradesh.

Lottery for 950 MHADA flats in Nashik to be drawn on May 29, 2019

May 29, 2019

In a bid to allocate 950 homes across Nashik, the Maharashtra Housing and Area Development Authority (MHADA) will draw the lottery on May 29, 2019. Earlier, the lottery was scheduled to be held in April 2019 but got delayed due to the model code of conduct owing to the Lok Sabha Elections.

Realty check: Property buyers return home

May 28, 2019

Inventory of unsold residential apartments drops thanks to steady prices, cuts in GST.

General elections 2019: What do home buyers and the real estate sector want from Modi Sarkar 2.0

May 24, 2019

With the results of the general elections 2019 out, we look at how a second term of ‘Modi Sarkar’ will impact the real estate industry and the expectations of the sector from the government that will rule for the next 5 years.

Finally, Kerala to get real estate regulatory authority

May 22, 2019

It is learnt that two names have been recommended for the post of chairperson; one a retired additional chief secretary (ACS) and another serving as ACS.

Finally, Kerala to get real estate regulatory authority

May 20, 2019

It is learnt that two names have been recommended for the post of chairperson; one a retired additional chief secretary (ACS) and another serving as ACS.

Homebuyers seek vote on NBCC’s ‘conditional’ offer on Jaypee projects

May 14, 2019

As a conditional bid cannot be accepted, homebuyers fear the committee of creditors (Coc) may reject the proposal in its meeting.

Realty hot spot series: This West Delhi locality is well-connected to all parts of NCR

May 13, 2019

This locality has affordable homes and is well-connected to key employment hubs of Gurugram, Connaught Place, and Noida through metro and roads.

Now, owners may have to pay different GST for identical flats

May 9, 2019

Two people buying identical flats in the same complex but in different buildings, may end up paying different GST.

Flexible space leasing by co-working operators sees 4-fold jump in Jan-Mar: CBRE

May 8, 2019

The space leased by co-working operators in both Delhi-NCR and Chennai rose to 0.3 million sq ft from 0.1 million sq ft, while in Pune it was flat at 0.2 million sq ft.

AAR relief for flat buyers, rules PLC to attract 12% GST

May 4, 2019

Some builders have been levying higher GST on preferential location charges (PLC) and other add-on services.

Cognizant projects slowest growth in its history

May 3, 2019

Cognizant Technology Solutions Corp reported dismal first-quarter earnings as both revenue and profitability missed analysts estimates, prompting the management of the Nasdaq-listed company to cut its full-year revenue growth to 5.1% in constant currency terms from its earlier guidance of 9%.

New forecasting system to alert Delhi residents about air pollution

May 2, 2019

Scientists have developed a new forecasting system that they say can provide the residents of Delhi and other heavily polluted areas of northern India, critical information for reducing their exposure to potentially unhealthy air.

Property options for home buyers in Mumbai’s peripheral regions

April 30, 2019

The Mumbai Metropolitan Region (MMR) has witnessed considerable development over the past decade. It has several areas, which have witnessed a sea-change and have become extremely desirable locations to live in. Called the ‘city of dreams’, Mumbai attracts people from across the country, owing to its infrastructure and career options. However, these factors have also contributed to increasing the population of the city and an upsurge in real estate prices. Many areas in Mumbai have reached a saturation level. This has led to the emergence of new micro-markets.

Realty hot spot series: Delhi's Janakpuri offers DDA flats, houses for different budgets

April 29, 2019

This week’s realty hot spot is Delhi's Janakpuri locality, which offers a range of properties: 1BHK (580 sq ft), 2BHK (820 sq ft), 3BHK (1310 sq ft) and 4BHK (2350 sq ft). The locality boasts of over 14 schools, 16 hospitals, more than 18 restaurants, 15 plus grocery stores and over 10 petrol pumps.

Homeowners in India roll up sleeves to complete unfinished flats

April 26, 2019

Homeowners in India are forced to dedicate untold hours to complete the flats they spent years saving up for.

Realty hot spot series: Variety of residential units on offer in Delhi's Rohini locality

April 22, 2019

The locality is well-connected to the key job and retail hubs. Other key amenity includes DPS and GD Goenka schools, Dr Baba Saheb Ambedkar Hospital, Malls, etc.

What kind of residential real estate can get you higher rental return on investment?

April 22, 2019

Smart choice of investments, value-added services and a host of online rental disrupters can be a game-changing recipe for India’s rental real estate market and the investors.

Will the government’s model guidelines for retirement homes help senior citizens?

April 18, 2019

Senior citizen Sitalakshmi Nair, a resident of Coimbatore, moved into a rental flat in Mumbai’s Matunga, to live in the same housing complex as her son. However, owing to the high rental in the city and the inability to spend time with her children who travelled frequently, she decided to opt for a quiet residence outside the city.

Residential property prices may rise in second half of this financial year

April 17, 2019

This year will see increased vigour stemming from policy overhauls, stabilisation of prices and rising demand, according to experts.

Realty hot spot series: Metro, road connectivity is a big draw of affordable housing in Greater Noida.

April 9, 2019

Greater Noida's Zeta, Eta, Theta localities are well connected with key job hubs of NSEZ, Surajpur Industrial Area and offices situated along the Noida Expressway.

Total 5.6 lakh housing units delayed across India's top 7 cities: Report

April 9, 2019

Top seven property markets of India have a total stock of 5.6 lakh delayed housing units worth Rs 451,750 crore, showed data from ANAROCK Property Consultants.

Residential sales jump 58% on year in January-March, launches up

April 5, 2019

Interim Budget sops, GST rate cut, reduced home loan rates boost housing.

SC: Contracts skewed against home buyers are not binding

April 5, 2019

The agreement entails the buyers pay a higher rate of interest in case of delayed payment with the builders having the option of cancelling allotment in case of a default.

Input tax credit or no input tax credit: What will the real estate sector choose?

April 3, 2019

Starting April 1, 2019, developers can choose the new GST rate for under-construction properties, with lower tax, albeit without ITC. We examine the implications that this change is likely to bring, for developers and home buyers alike.

Realtors have time till May 10 to opt for old GST rates

April 2, 2019

If realtors do not exercise the option, they will be covered under the lower tax rate of 5 per cent and 1 per cent wef April 1 and will not be entitled to avail tax credit on inputs.

Realty hot spot series: Road, metro connectivity is a big draw of Dwarka in Delhi

April 1, 2019

This Delhi micro-market offers excellent road and Metro connectivity with all the required amenities.

Student housing: Indian real estate’s next big segment in 2019?

March 30, 2019

With students enrolling for higher education in the country growing at a rate of nine per cent annually, we examine the potential of the student housing segment and whether it can emerge as a viable real estate asset class

GST Council approves transition plan for 5% rate for under-construction flats, and 1% for affordable housing

March 29, 2019

The GST Council, on March 19, 2019, approved a transition plan for the implementation of the new tax structure for housing units, revenue secretary AB Pandey said. As per the plan, builders will be allowed to choose between the old tax rates and the new ones for under-construction residential projects, to help resolve input tax credit (ITC) issues.

Amrapali's collapse not due to market conditions but because of wilful criminal actions of owners: Auditors to SC

March 29, 2019

Seven months after the Supreme Court ordered a forensic audit of Amrapali group to track misuse of homebuyers' money, the final report said illegal diversion of over Rs 3,000 crore led to the financial collapse of the group, leaving thousands of investors stranded.

BMC serves notice to commercial establishments in Mumbai’s iconic Esplanade Mansion

March 28, 2019

The Brihanmumbai Municipal Corporation (BMC) has asked commercial establishments running from the dilapidated Esplanade Mansion in south Mumbai, to down the shutters for the time being. It is a historical building, recognised by UNESCO as a heritage structure but now considered hazardous. The building, formerly known as Watson Hotel, was built with cast iron fabricated in England and holds the distinction of hosting the first-ever film screening in India in 1896.

19 housing societies in Mumbai’s Vasai get notices for denying membership rights to non-Catholics

March 27, 2019

The sub-registrar of societies in Vasai division, has served notices to 19 cooperative housing societies, after receiving a complaint that these housing societies were preventing non-Catholics from renting, purchasing flats or becoming members. These cooperative housing societies are a part of the Citizen Housing Complex at Naigaon, in Palghar district of Maharashtra, neighbouring Mumbai.

No clear definition of 'ongoing project' may lead to disputes under new GST rates for real estate

March 26, 2019

Lack of clear guidelines and apprehension of possible controversy around transition of unutilised input tax credit as on 31 March 2019, has been a key issue for the sector.

Realty hot spot series: Sea-facing properties a big draw of this Mumbai suburb

March 25, 2019

Bandra (West)- Linking Road is sought after for its good schools, hospitals and retail outlets. The social infrastructure is a highlight, as is the availability of premium sea-facing properties.

No home, no votes: Noida flat buyers pledge to use NOTA option in LS elections

March 25, 2019

Peeved over delays in getting possession of flats, a section of home buyers in Noida and Greater Noida have started an initiative, pledging to use the NOTA (none of the above) options, instead of voting for any candidate in the Lok Sabha elections

MahaRERA’s SOP empowering home buyers to be out next week

March 23, 2019

The SOP would bring relief to homebuyers as around 80% complaints reaching MahaRERA pertain to delay in project completion.

SILA Group to invest Rs 70 crore to develop housing project in Mumbai

March 23, 2019

The Mumbai-based firm commenced operations in 2010 as an integrated facility management company, but later ventured into project and construction management as well as real estate advisory and consulting services.

RERA in, but website lacks many details

March 19, 2019

Finding information on the site and navigating it also complex, unlike the portals of other states.

Structural auditor arrested for Mumbai foot overbridge collapse

March 19, 2019

A structural auditor was arrested in connection with last week’s foot overbridge collapse that left six people dead, police said.

Realty hot spot series: South Mumbai offers premium residential homes

March 18, 2019

South Mumbai offers high-end homes as well as key amenities like schools, hospitals and markets.

GST Council to consider implementation of lower GST rates for realty sector

March 18, 2019

The meeting is likely to deliberate only the transition provision and related issues for the implementation of lower GST rates for the real estate sector.

MMR, NCR lead affordable housing in last 5 years: Report

March 16, 2019

Both the regions contributed 55% share of the overall new budget housing supply between 2014 and 2018.

Drywall technology: Can it reduce construction timelines in Indian realty?

March 15, 2019

In a technology-driven lifestyle and rapid urbanisation, builders are largely exploring new construction and interior design options. The construction sector has seen major changes, with an increase in the usage of gypsum-based products.

Is 2019 the best time to buy a house?

March 15, 2019

The Indian real estate sector has witnessed several positive developments over the past few years, with schemes like the Pradhan Mantri Awas Yojana (PMAY), the granting of infrastructure status to affordable housing, 100 per cent tax exemption on the profits for developers building affordable homes, implementation of the Real Estate (Regulation and Development) Act, 2016 (RERA) and the subsidy schemes for first-time buyers of residential properties.

As property prices rise, more Indian women claim inheritance

March 14, 2019

Amendments in 2005 to the Hindu Succession Act, which governs matters of inheritance among Hindus, made women's inheritance rights equal to those of men.

RERA yet to resolve malpractices in real estate sector: Experts

March 13, 2019

The adjudicating officers themselves have powers to look at only certain sections of the act, while the main powers are bestowed only upon the members.

NBCC to monetise Jaypee Infratech assets to complete stuck projects

March 12, 2019

NBCC has also assured home buyers of completing pending projects within 3 years if its bid gets accepted.

Buying a house on a subvention scheme? Tread with caution

March 12, 2019

Interest subvention schemes can make buying a home easy for you in the initial stages, but watch out for the pitfalls.

SBI links pricing of loans and deposits to RBI’s repo rate

March 11, 2019

In a first-of-its kind move that will ensure faster monetary transmission, the nation’s largest lender State Bank of India, announced linking of its savings deposits rates and short-term loans to the RBI’s repo rate.

North Bengaluru to witness over 140% increase in office stock by 2021: Report

March 7, 2019

New supply of Grade -A office space in the micro market of North Bengaluru is expected to see 140% rise by 2021 to 5.7 mn sft from 4.7 mn sft now.

Karnataka RERA gets a permanent body

March 6, 2019

Established in July 2017, the authority functioned without a permanent chairman for over 1.5 years. It had had four interim chiefs since its inception.

Mumbai 16th most expensive global prime residential market: Report

March 6, 2019

Indian luxury home markets low on growth with Delhi prices up 1.4%, Mumbai 0.3%.

GST cut, RERA have made realty buyer's market but wait till Apr 1 to buy

March 5, 2019

Reduced GST tax rates will come into effect from 1 April, so wait for a month before you buy realty.

Here's how much you are likely to save from cut in GST on housing

March 5, 2019

While there will be an increase in demand, the cost will go up for builders due to the withdrawal of input tax credit.

No EMI till status gets clear: Amrapali buyers

March 5, 2019

The buyers claimed they have been demanding an EMI holiday for a long time, and it is imperative that such a scheme is extended to the buyers, as they are financially stressed.

Realty hot spot series: This prime Mumbai locality is well-connected to key job hubs

March 5, 2019

This premium and centrally located area in Mumbai is well connected with the rest of the city. It also boasts good social infrastructure.

Home buyers may end up paying more after GST rate cut

March 1, 2019

Affordable homes are defined as ones with sale price of Rs 45 lakh or less and a carpet area of 90 square metres (968 square feet) or less in non-metro cities.

Tax cuts should boost Indian realty demand, but many issues linger

March 1, 2019

Rising bad debts and real estate project failures have made banks cautious on lending to developers.

Realty Hotspot Series: This Mumbai suburb is well connected to key business centres

February 21, 2019

The locality boasts of over 20 schools, 16 hospitals, 20 restaurants, 20 banks, 20 grocery stores and 9 petrol pumps.

Peninsula Land to invest Rs 160 crores, to develop 600 apartments in its affordable luxury project in Pune

February 15, 2019

Real estate developer Peninsula Land Ltd has announced the launch of the second phase of its affordable luxury project, addressOne Central Park, at Pune, offering over 600 apartments of one to three-BHK configurations, priced from Rs 19 lakhs onwards.

Apex court admits home buyers’ plea to repeal Bengal’s realty Act

February 12, 2019

“There’s no presidential assent to WB HIRA and therefore is unconstitutional in view of Article 254 (2) of the constitution of India,” said Devashish Bharuka representing the petitioners.

Millennials are opting to rent but with some perks

February 12, 2019

Demanding millennials with disposable income are increasingly turning to professionally managed hostels.

Realty hot spot series: What makes this Mumbai locality attractive to home buyers

February 11, 2019

Access to popular malls and employment hubs makes this Malad-Kandivali area in Mumbai attractive to buyers.

Home buyers demand fast execution of RERA orders

February 8, 2019

Many homebuyers and have been in and out of both the civil and MahaRERA courts, fighting battles for incomplete projects.

MahaRERA asks Kohinoor Developers to pay interest on delayed possession

February 7, 2019

The developer was also fined Rs one lakh for not registering an agreement for sale despite accepting more than 20 per cent of flat cost in Kohinoor City, Kurla West.

Homebuyers seek govt takeover of Unitech for delivery failure

February 7, 2019

A separate note to the apex court on behalf of 967 home buyers in the Unitech Burgundy project in Noida said that a majority of them want possession of the apartments.

In Brexit chaos, rich Indians pick sweet deals in UK’s realty market

February 5, 2019

Midsize apartments in some posh London areas cheaper than similar properties in South Mumbai or Delhi.

Should you buy a ready or under-construction or resale house?

February 4, 2019

It is recommended to go for RERA registered properties only, so you can have recourse to the regulator, should there be a dispute.

Another brick in the wall: Tax sops in Budget 2019 for buyers, builders

February 2, 2019

To encourage affordable housing, benefits under Section 80-IBA of the Income Tax Act will be extended for a year for housing projects approved till March 31, 2020.

FM tables the interim budget 2019

February 1, 2019

This is not just an interim budget, this is a vehicle for the developmental transformation of the nation: Finance minister, Piyush Goyal.

Interim budget 2019: Let’s not get too excited

January 31, 2019

What can home buyers and developers expect, from the interim budget 2019, which is set to be announced just before the general elections? We get an expert’s opinion on the areas that need to be addressed and whether any action is likely to be taken.

Realtors offer more ready flats at affordable rates

January 30, 2019

Anarock’s consumer sentiment survey for the second half of 2018 also revealed that nearly 67% of the aspiring homebuyers preferred to buy properties within this budget range.

New metro rail line to boost housing demand in Noida, Greater Noida: Real estate developers

January 28, 2019

The new metro rail service, called Aqua line, runs through 21 stations -- 15 of them in Noida and six in Greater Noida -- and covers a distance of 29.7 km.

Should your housing society opt for self-redevelopment?

January 28, 2019

The trend has gathered steam in Mumbai. It offers several advantages to the society members, but can be quite a tedious task.

Realty hot spot series: Good connectivity is a big draw of this established locality in Mumbai

January 28, 2019

Proximity to major schools and colleges is a big draw for this established Mumbai locality.

NBCC gets SC’s green signal to complete Amrapali’s 2 Noida projects

January 26, 2019

A bench of Justices Arun Mishra and U U Lalit asked NBCC to complete two projects— Castle and Eden Park— which were chosen by the company.

NBCC gets SC’s green signal to complete Amrapali’s 2 Noida projects

January 26, 2019

A bench of Justices Arun Mishra and U U Lalit asked NBCC to complete two projects— Castle and Eden Park— which were chosen by the company.

NBCC to start work on stalled Amrapali flats on February 8

January 25, 2019

As per the proposal, NBCC will in the first phase take up three housing projects — Sapphire I and Sapphire II in Noida and Castle in Greater Noida.

RERA panel plans change in extension of registration rule

January 24, 2019

Upadhyay, also a member of RERA Central Advisory Council, insisted that any change to this Section would be opposed by the homebuyers’ body at all forums.

Budget 2019: Time to maximise affordability to boost housing demand

January 23, 2019

A few positive announcements from the affordable housing finance perspective can be expected.

IKEA inks pact with Rustomjee Group to offer furnished homes

January 22, 2019

IKEA India will provide ready-to-assemble furniture for around 1,200 apartments in Rustomjee’s project Global City Virar near Mumbai.

Circle rates revised again in Gurugram, will be effective from today

January 20, 2019

This is the third time that circle rates have been revised this fiscal, after revisions in April and October.

Only builder-buyer agreement can protect your rights

January 19, 2019

Buyers must read this document carefully as the terms and conditions mentioned will help to ensure that your rights are protected and you get what you have paid for.

Buying property comes with occupational hazard

January 17, 2019

The regulation, prospective in nature, says all properties measuring more than 5,000 sqft should be part of the guidance value book before the registration process starts.

Amrapali booked flats on the name of peons, drivers for Rs 1/sq ft to divert home buyers' money, auditors told SC

January 17, 2019

23 companies, used to divert homebuyer's money, were floated in the name of office boys, peons and drivers.

After five years delay, YEIDA to handover 11,000 residential plots by June

January 16, 2019

While 5,500 allottees of the residential plots will be given possession letters by March 31, another 4,500 will be given letters by June 30.

MahaRERA orders ‘remain on paper’

January 16, 2019

Some consumers said issuing orders without ensuring their execution was inconsequential. MahaRERA led the country in terms of disposal of complaints.

Unsold residential inventory hits 2-year low on ready properties’ sales traction

January 15, 2019

Inventory levels have plummeted to 33 months in at the end of December from 47 months a year ago in Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai and Kolkata.

Amrapali buyers want government to help in construction

January 14, 2019

The buyers said they would be staging continuous protests every Sunday hereafter till their demand is not met.

Buyer can claim interest even for a 22-month delay in possession: Consumer commission

January 14, 2019

The commission ruled in favour of Malad resident Neela More who had booked a 607 square feet flat for Rs 13 lakh in June 2000, but got its possession 22 months later, in April 2002.

Realty hot spot series: Good connectivity, infrastructure make this Pune locality attractive

January 14, 2019

Baner in Pune is an established micro-market, enjoying excellent road network, connectivity and social infrastructure.

Housing sales up 7% in 2018 in 9 major cities; new supply falls 22%: Report

January 13, 2019

Higher sales and fall in new supply led to 10 per cent decline in unsold stock at around 6 lakh units as on December 31, 2018.

A happy home for your family

January 11, 2019

The following article is an initiative of Amara by Lodha and is intended to create awareness among readers.

About 8,000 property tax defaulters owe Chennai civic body Rs 300 crore

January 11, 2019

Senior officers say that they can issue a default distraint warrant and seize the property of a defaulter. But this is a last resort and a long-drawn process.

Govt yet to issue licences for 3 lakh new affordable homes despite rule change in 2017

January 11, 2019

Department of town and country planning (DTCP) had launched the scheme on land totalling 1,650 acres in the two cities, targeting three lakh affordable housing units.

3C’s Lotus firm faces insolvency proceedings; 3500 homebuyers yet to receive flats

January 11, 2019

This will directly affect around 3,500 buyers who are yet to get their flats in Lotus Panache (Sector 110) and Lotus Boulevard (Sector 100).

Around 40% property owners in Bengaluru don't pay tax

January 10, 2019

While the civic body’s GIS-enabled property tax information system has identified 19 lakh properties in its limits, only 11.5 lakh properties pay the levy.

Centre writes to States over 5 lakh poor not getting houses

January 10, 2019

A government official told ET on condition of anonymity that about 4,00,000 intended beneficiaries may not get a house under the scheme by the deadline of March 31, although the Centre is making all efforts to push states.

Shapoorji Pallonji enters Delhi-NCR realty market with Rs 1200 crore housing project

January 9, 2019

The project 'Joyville Gurugram', spread over 18 acre land on Dwarka Expressway, will be developed by a USD 200 million platform established by Shapoorji Pallonji, ADB, IFC and Actis.

Why reduced GST will prove costly for homebuyers

January 9, 2019

If GST is slashed to 5%, denial of ITC will result in increase in the selling price of houses

Mumbai residential property prices decline 6.8% in 2018: Report

January 9, 2019

The year saw sales volume recording marginal growth of 3% at 63,893 units, while total launches rose 74,363 units denoting 220% rise.

Homebuyers’ body opposes developers’ plea to amend structural defect liability

January 8, 2019

The Forum for People’s Collective Efforts (FPCE), a pan-India homebuyers’ association, has objected to realty developers’ proposal to amend the structural defect liability and workmanship clause under the Real Estate Act, 2016.

Housing launches see significant jump in Bengaluru, Mumbai and Delhi NCR in 2018: Report

January 7, 2019

Launches more than double in Delhi-NCR; Bengaluru and Mumbai record 81% and 22% annual growth, respectively

Builder to refund Rs 1.04 crore in 30 days for delayed possession

January 7, 2019

The home buyers had paid 74% of the cost for one flat, and 94% for the other.

Guidance value jump may hit Bengaluru’s property market

January 7, 2019

State may have got calculation wrong by jacking up ‘market rates’: officials.

At 18%, Mumbai rent inflation highest among five cities: Report

January 7, 2019

The average rent in MMR jumped to Rs 21,168 last year from Rs 17,912 in 2017 followed by Chennai and Bengaluru with 15% and 14% increase, respectively.

Realty hot spot series: This is an upcoming micro market near Mumbai

January 7, 2019

Mira Road in Mumbai is a developing micro-market with a mix of completed as well as under construction residential projects, available under various budget brackets.

Consumers’ body wants govt to bring projects for revamp under MahaRERA

January 4, 2019

Mumbai Grahak Panchayat on Dec 31, 2018 wrote to CM Devendra Fadnavis to bring more than 6,000 redevelopment projects in the three cities under MahaRERA as assured by him.

GST rate cut to hike cost of low, mid-priced houses

January 3, 2019

Following the latest GST council meet, finance minister Arun Jaitely had announced that the proposal to reduce the rate may be taken up in the forthcoming meeting this month.

Govt decides to put urban rental policy on the back burner

January 3, 2019

“The rental policy is unlikely to be formalised any time soon. The main reason is that it is very sensitive,” a senior government official told ET on condition of anonymity.

Housing prices rise by up to 22% in 33 cities during April-June FY19: NHB

January 3, 2019

For under-construction properties, housing prices went up in 39 cities by up to 17 per cent and declined in 8 cities by up to 8 per cent and remained stable in 3 cities.

No need to queue up as host of DDA services go online

January 1, 2019

DDA is also in the process of setting up a call centre having specialised agents, who would ensure that people don’t have to visit its offices for any queries.

Nearly 60% buyers say ‘No’ to GST for under-construction properties: Poll

January 1, 2019

The revelation comes when the GST Council is likely to reduce the GST rate levied on under-construction properties to 5% from 12% in its January 2019 meeting.

Home prices eased in last 5 years, despite better housing credit growth: RBI

December 31, 2018

The large pile of unsold homes resulting from tepid demand conditions gradually led to moderation in price increase.

Govt forms committee for 'effective' implementation of real estate law RERA

December 31, 2018

RERA, which protects the interest of home buyers, empowers states to notify their rules and appoint regulatory authorities.

Over 34,000 real estate projects registered with RERA across India

December 31, 2018

A total of 15 states/UTs have set up regular Real Estate Regulatory Authority (RERA) while 13 have interim RERA.

Realty hot spot series: What makes this Greater Noida locality a sought after market

December 31, 2018

The locality is an established residential area comprising good social and retail infrastructure along with sound connectivity.

Government plans to sanction one crore houses before 2020

December 29, 2018

The official said that construction of almost 62 lakh individual household toilets and 5 lakh community and public toilet seats is already over or nearing completion.

Your dream home may become cheaper from next month

December 24, 2018

Currently, 12 per cent GST is levied on payments made for under-construction property or ready-to-move-in flats where completion certificate has not been issued at the time of sale.

Realty hot spot series: Key school, hospitals within reach of this Mumbai locality

December 24, 2018

This Mumbai location hosts several business centres namely One BKC, Godrej BKC, Parinee Crescenzo, IL&FS Financial Centre, etc.

Outlook negative for residential realty, stable for commercial: ICRA

December 21, 2018

The residential realty has witnessed a prolonged down-cycle owing to high inventory, muted demand, weak affordability and declining investor interest.

Handover of flats without occupancy certificate illegal, say experts

December 21, 2018

Handing over flats is not just a matter of securing revenues for the state, there are other issues that should be kept in mind too like fire, water, safety etc.

Homebuyers' body seeks audit of projects delayed by over 2 years

December 20, 2018

RERA initiate a census of all delayed projects and pass seizure order along with auction of seized assets if it finds that funds have been diverted.

Real estate sector has a choppy ride in 2018

December 19, 2018

Homebuyers had reason to cheer with the IBC and RERA offering them protection of investments and enabling action against errant developers.

Property tax in South Delhi may be in for a 33% hike

December 18, 2018

The biggest changes have been proposed in unit area values and use factor. The age factor, occupancy and structure factors have remained unchanged.

Megalith to build 60,000 houses for economically weaker sections

December 18, 2018

The first project is coming up on the outskirts of Bengaluru and will have 2,000 units spread over 22 acres of land in Nelamangala.

DDA may launch next housing scheme in two phases

December 18, 2018

DDA vice chairman Tarun Kapoor at a press conference here said several flats are under construction and by the "next six months, about 25,000 flats would be ready".

Realty hot spot series: Connectivity is the key selling point of this NCR locality

December 17, 2018

Noida Expressway enjoys proximity to markets, offices and schools and this makes the NCR locality attractive to all kinds of home buyers.

Bengaluru, Mumbai and Delhi-NCR leads flexible office absorption in India: Report

December 14, 2018

According to JLL data, Mumbai’s share in total office leasing in co-working sector tripled to 21% during January – September 2018 compared to 7% in the corresponding period of last year.

MahaRERA rejects home buyer's plea

October 28, 2018

It said that the issue of compensation was already decided by civil court of Pune.

Karnataka RERA becomes new name for red tape

October 26, 2018

Sections of developers and home buyers are disappointed that the authority is acting more like another urban civic body rather than learning from KERC.

Homebuyers want SFIO to probe Amrapali

September 6, 2018

Homebuyers in Amrapali projects want the Supreme Court to direct probe against the realty giant for diverting their money through dubious transactions.

Amrapali diverted Rs 2,156 crore via shady transactions: Bank

September 5, 2018

The report was prepared under proceedings of Insolvency and Bankruptcy Code initiated against the company by the creditor bank after the company failed to pay it back.

NBCC says Amrapali's projects can be completed within 3 years, Rs 8,500 crore needed

September 5, 2018

NBCC, which had earlier told the apex court that it was ready to undertake the projects of the embattled realtor, placed a proposal before the court for completing the projects in phases.

NCDRC orders Unitech to refund over Rs 40 lakh to buyer; give compensation

September 4, 2018

Despite assurance by Unitech Ltd, Noida resident was not given possession of a flat he booked in Unitech Horizon even after a lapse of over 7 years.

Supreme Court construction ban may take toll on development

September 4, 2018

A ban has been imposed on construction in several states & union territories over on waste management norms.

DLF to invest over Rs 1,400 crore in commercial project in Gurgaon

September 3, 2018

The construction of this project, which is located close to Cyber City that commands high rental, is in advanced stage and the company has already pre-leased about 60 per cent of the area.

Realty Hotspot Series: Why property demand will increase in this Navi Mumbai locality

September 3, 2018

Panvel enjoys high property supply, demand is growing due to construction of Navi Mumbai Airport and proximity to railway station and national highways.

Builders give home buyers one deadline and RERA another to avoid penalty

September 14, 2017

Developers registering projects with the Maharashtra Real Estate Regulatory Authority are mandated to declare the delivery date of projects.

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