The Reserve Bank of India plans to create indices for commercial and residential properties in Ahmedabad to manage speculation and realty bubble risks.
Indian real estate is experiencing a resurgence due to increased construction, especially in affordable housing, and record-low home loan rates. This has led to renewed optimism among consumers, particularly in Tier II and Tier III cities.
PSU banks' attractive home loan rates spur demand in smaller towns, but the impact varies in IT hubs like Pune and Bhubaneswar.
Credai Orissa to reduce housing project prices by 5-10% in 2 months due to falling raw material prices.
Real Estate Bank India to set up 3000 franchisees, including 16 in Orissa, to facilitate inter-state property transactions.