Nashik Municipal Corporation triples development charges to Rs 350 per sq m starting April 2025, marking the first hike in 15 years, aiming to fund infrastructure projects and Kumbh Mela 2026-27 while developers anticipate rising housing costs.
Ahmedabad’s real estate market saw a 7.7% drop in new projects during FY 2023-24, driven by increased construction costs and a surge in urban redevelopment.
Indian real estate anticipates Union Budget 2024 to address key reforms. Industry leaders seek reduced construction costs, industry status, and single-window clearance to boost growth and achieve the projected $1 trillion market size by 2030.
Developers in Gujarat expect property prices to rise by Rs 400-500 per square foot due to significant increases in raw material costs, including steel and cement.
CREDAI warns of 10-15% hike in property prices due to rising construction costs, attributed to increasing raw material prices and construction delays.
Water shortages are impacting real estate construction, especially in urban areas. Increased costs for water are driving up property prices and potentially halting projects.
NGT's groundwater ban for construction halts Noida, Greater Noida projects. Builders await clarification, while homebuyers worry about rising costs and project delays.
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.
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.
Budget 2012-13 proposes external commercial borrowing for affordable housing, a Credit Guarantee Trust Fund, and increased Rural Housing Fund provisions. Real estate players express disappointment, citing increased costs from the cement industry tax and service tax hike.
Real estate experts anticipate rising costs for home purchases and construction due to increased material prices and a 2% service tax hike, impacting buyers and developers alike.
RBI's interest rate hike impacts real estate, increasing construction costs and home loan rates. Developers face a cash crunch, while potential homebuyers confront rising borrowing expenses.
Real estate firms are engaging in joint developments amid a significant drop in apartment sales and rising inflation, with experts predicting rising land values in select areas.
Indian hoteliers are importing built-up rooms and fittings from China to offset rising construction costs, which have surged nearly 40%, thus saving time and expenses.
Small builders in Lucknow face financial strain due to rising inflation, increased interest rates, and escalating construction costs, impacting project pricing and buyer interest.
Calcutta property prices may increase by up to 15% as developers face rising costs; however, demand slowdown may limit immediate price hikes.
Karnataka real estate developers plan a price increase of 3-8% from June 10 due to rising construction costs and higher labor rates.
The Kolkata real estate market faces stagnation in the residential segment, with ongoing price stability despite an increase in construction costs and delayed project launches.
The Indian real estate sector is optimistic about the recent budget but calls for further action to meet industry demands, with key benefits noted for housing and infrastructure.