Finance Minister Nirmala Sitharaman presents Budget 2024, anticipating focus on affordable and middle-class housing. Industry seeks tax breaks, GST concessions, and incentives for developers and buyers.
India's office sector is on the rise, with REITs significantly expanding portfolios and demand projected to exceed 70 million square feet by 2024.
Noida Authority directs real estate developers to pay debts and get permission to register apartments for homebuyers.
In Q1CY24, Grade A office space demand in India surged, driven by key cities. CEDAI predicts demand will hit 70 MSF by 2024, supported by economic growth.
Offbeat real estate destinations like Sonipat, Bhiwadi, and Panchkula are gaining traction due to their blend of affordability, lifestyle amenities, and infrastructure developments.
The Indian real estate market is projected to reach $1.3 trillion by FY 2034, significantly impacting the economy, driven by residential demand and commercial development.
Real estate developers are aggressively acquiring land in India, particularly in major cities, driven by high housing demand. This trend is expected to continue in 2024, with Tier-1 and developing areas remaining hotspots.
Luxury and mid-range housing demand surges in Pune and MMR, driven by factors like tax incentives, rising incomes, and NRI investments. Property values have increased significantly, especially in Mumbai, impacting affordability. Despite rising costs, sales remain strong, with buyers prioritizing larger homes and better amenities.
The real estate industry hopes for tax breaks, a broader definition of affordable housing, and increased retail participation in REITs in Budget 2024.
CREDAI and JDA collaborate to attract investment and boost job creation in Rajasthan's real estate sector during the Invest Rajasthan Summit 2022.
CREDAI warns of 10-15% hike in property prices due to rising construction costs, attributed to increasing raw material prices and construction delays.
The West Bengal government has extended the real estate stamp duty rebate and circular rate reduction until January 31, 2022, to boost home sales amid rising demand.
Maharashtra's e-registration for property sales starts on October 2, aiming to increase transparency and efficiency in the real estate sector.
Apartment deliveries in Delhi-NCR face potential two-year delays due to pandemic-related disruptions, impacting over 3 lakh units, primarily in Greater Noida.
Real estate developers in Uttar Pradesh urge the government for effective policies to resolve insolvency issues that have stalled numerous projects, impacting thousands of buyers.
Goa government hikes property registration fee from 0.5% to 1%, pushing buyers to pay around Rs 74,000 more for registrations. Credai opposes, stating it will affect market demand.
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.
Real estate developers are requesting loan restructuring, interest moratoriums, and more liquidity support from the RBI after their Covid relief package announcement.
Maharashtra makes slot booking mandatory for property registration in April due to COVID-19 restrictions, potentially impacting revenue collection.
Goa CM Pramod Savant announced a 30% infrastructure tax reduction for six months starting April 1, 2021, to revitalize the real estate sector and simplify double taxation issues.
More than 75,000 homebuyers of Amrapali, Jaypee Infratech, and Unitech in the National Capital Region are likely to be ineligible for the Rs. 25,000 crore stress fund due to government conditions. The finance ministry has clarified that the fund won’t be invested in projects facing litigation in high courts and the Supreme Court. Houses costing more than Rs. 1.5 crore in the NCR region are also not eligible.
A recent study highlights Bengaluru's green building distribution challenges, indicating a significant focus on commercial properties, while residential green initiatives lag behind, affecting urban housing.
Credai Maharashtra highlights concerns of a 22% sales dip in real estate, attributing it to inflation, high interest rates, and regulatory delays, while affirming Pune's relative stability.
Credai predicts 22x boost in FDI with new Real Estate Bill, enhancing transparency and investor confidence
Noida officials are set to upload housing project details online to protect buyers and curb property scams, with wider transparency expected for developers and investors alike.