Noida homebuyers face increased EMIs due to delayed apartment registrations. Banks are charging an additional 2% interest because of unresolved issues between the Noida Authority and developers.
GNIDA prohibits plot subdivision and mandates development fee payment. Smart village project gets approval. Industries can purchase FAR on remaining plots.
MahaRERA grants a six-month extension to real estate projects due to the pandemic's second wave, invoking the force majeure clause for projects expiring after Apr 15, 2021.
Due to the Covid-19 pandemic, approximately 25 commercial projects in Ahmedabad have been converted into residential housing schemes, driven by housing demand.
MahaRERA mandates disclosure of apartment sales and reservations to curb fraudulent practices by developers and protect buyers.
Labor shortages, with over 25% of migrant workers leaving, may delay real estate projects. UP-RERA is aware and may extend project timelines. CREDAI highlights material supply issues.
Jaypee Wish Town plans to deliver 6,000 apartments by 2022, including new and renovated units, with construction ongoing despite previous delays.
Parsvnath Developers sentenced to prison for delayed refunds to homebuyers, highlighting the issue of pending apartments in Greater Noida. Over 1 lakh apartments remain undelivered, with builders owing GNIDA ₹6,000 crore.
Police attached 56 illegally constructed flats in Shahberi, Greater Noida, valued at ₹22.40 Cr. The builder constructed on agricultural land without approvals.
Gaurs Group invests ₹2,123 crore in three stalled Amrapali projects, encompassing 10,900 apartments, marking a diversification into infrastructure.
Ghaziabad Development Authority (GDA) has asked residents of Alaknanda Towers to vacate due to needed renovations, sparking disputes over responsibility and costs.
RERA will be fully implemented nationwide from May 1. Noida Authority will upload detailed project information online. Homebuyers seek transparency and tracking of construction progress.
North Bangalore's residential market is booming with new apartments and luxury villas, offering options for all budgets. Premium and luxury housing options are concentrated around Hennur Road and Thanisandra, while mid-range options are available near the airport.
Kolkata's residential market rebounds post-demonetization with innovative price protection schemes. Demand has surged by 15%, boosting sales and queries.
Emaar MGF's 'The Avenue' residential project in Chennai receives completion certificate for 7 of the 232 units. This 14-acre project includes a clubhouse and amenities.
Haryana CM directed a status check on licensed residential and commercial projects amidst rising complaints against developers. The government reviews Unitech's projects and duties.
Actor Ranbir Kapoor reportedly purchased a Pali Hill apartment for ₹35 crore, significantly above the market value of ₹11 crore. The 2,460 sq ft flat boasts luxurious amenities.
Real estate portals are enhancing user experience by offering child-friendly data, interior design tips, relocation services, and legal assistance to boost the market.
Mumbai's residential market faces potential price correction in 2014 due to high unsold inventory and low absorption rates, shifting the market in favor of buyers.
Ahmedabad Municipal Corporation (AMC) plans to construct 9,980 residential apartments for the weaker sections of the city across 29 locations. 5092 are for EWS and 4887 for LIG.
Noida Authority will launch a scheme in December to allot 900 flats across multiple sectors. It includes categories like MIG, HIG, LIG, EWS, and Shramik Kunj. Rates have been finalized and allotment via a luck draw.
Gurgaon administration mandates CCTV installation in residential societies, pubs, and bars. Cameras must be at entry/exit points with 30-day storage. Residents and police laud this security boost.
Indian housing prices saw a modest quarterly increase of 0.89% yet remain 14-15% higher yearly. Lucknow, Ahmedabad and Kochi experienced the most significant growth.
A proposed 1% TDS on homes exceeding Rs. 50 lakh, outlined in Budget 2013, is set to take effect in June, potentially impacting luxury housing sales.
RBI's rate cuts have reduced home loan interest rates, reviving the residential market and boosting buyer sentiment across India.