Union government may confer infrastructure status to housing sector in upcoming budget, aiming to provide affordable homes and boost supply.
Budget 2013 is anticipated to favor home buyers, with potential provisions for affordable housing. Realty players seek tax exemptions and lower interest rates.
Union Housing Minister Ajay Maken advocated for a review of the FSI policy in Mumbai and other major Indian cities to boost affordable housing development, suggesting increased FSI rates.
Indian real estate players anticipate the Finance Minister's budget to lower construction finance costs, boost the sector, enable affordable housing, and expedite project clearances.
NAREDCO urges the government to grant infrastructure status to the entire housing sector to gain tax benefits and stimulate housing demand.
Hyderabad sees rising affordable housing sales, becoming a top affordable market in India. New projects and infrastructure boost this demand, attracting buyers and investors.
Noida Authority reveals 50 developers haven't paid dues, causing a Rs. 3,000 crore loss. The authority plans to amend the 2008 scheme that allowed 10% upfront payment for land, intending to recover the substantial losses.
LIC Housing Finance Limited aims to establish a residential real estate fund of Rs.1000 Cr via external commercial borrowings to enhance affordable housing.
MHUPA India plans to include affordable housing in infrastructure list, revises income limits for weaker sections, urging unified efforts to address 18.78 million housing shortage.
CREDAI urges real estate developers to lower property prices to address high unsold inventory, amidst suggestions from Finance Minister P Chidambaram for economic revival.
CREDAI criticizes MHUPA's new Real Estate Bill, fearing increased corruption and negative impact on affordable housing and the real estate sector.
Govt to Establish Regulatory Body to Protect Home Buyers from Unscrupulous Real Estate Developers
CREDAI urges faster environmental clearances to meet the rising housing demand. Lalit Kumar Jain highlighted project delays due to the Ministry of Environment.
The real estate landscape in Noida is increasingly skewed towards luxury developments, leaving middle-income groups struggling to find affordable housing options.
South Indian cities are becoming important real estate hubs due to improving transparency and a focus on quality development. Residential markets remain resilient with an affordability mantra.
Mumbai builders cancel their planned strike after negotiations with the Chief Minister regarding delayed project approvals and the establishment of a housing regulator.
Real estate prices in Coimbatore have increased 25-30% due to rising land, material, and labor costs, impacting affordability and the middle-income segment. Developers emphasize the need for infrastructure development to mirror Chennai's growth.
RBI's annual Credit Policy sparks optimism in the affordable housing segment, with realtors hopeful for lowered interest rates. However, concerns over inflation persist.
CREDAI criticizes BDA's redefined "apartment" and "group housing," citing vagueness and potential harassment for homeowners in Bhubaneswar.
Mr. Lalit Jain from CREDAI advocates for reforms to boost housing construction, urging the Central Government to address delays, land costs, and taxation issues.
Real estate developers clash with Maharashtra government over mandatory 20% EWS housing reservation in new projects.
CREDAI president Lalit Kumar Jain highlights Bihar's efficient real estate approvals, contrasting it with Maharashtra's slower system. He discusses challenges like approval delays and the 20% EWS reservation policy.
Bangalore’s real estate sector is set to grow by 25% in the coming year, according to CREDAI Karnataka. Commercial office space demand is rising, while residential sales are slow.
The recent budget allows external borrowing for low-cost housing, improving funding availability, but still falls short of the real estate sector's wider expectations.
Government initiatives, including ECBs for low-cost housing and interest subventions, are poised to boost affordable housing in Mumbai's outskirts, enhancing long-term price stability.