The DTCP has launched an online portal to streamline the affordable housing process, ensuring transparency and timely refunds for buyers following numerous complaints about unfair practices.
UP-RERA to issue a show-cause notice to Supertech Realtors due to non-compliance with the RERA Act.
Gaurs Group invests ₹2,123 crore in three stalled Amrapali projects, encompassing 10,900 apartments, marking a diversification into infrastructure.
UP-RERA is set to hold a National Lok Adalat on April 10, 2021, for resolving disputes between developers and home buyers in Uttar Pradesh.
Odisha RERA (ORERA) fined two real estate developers ₹20 lakh each for advertising without registration and not issuing a sale agreement, respectively.
SBI Capital will release ₹625 crore to fund six stalled Amrapali projects, ensuring apartment delivery to homebuyers. HUDCO expressed willingness to fund projects under specific terms.
Chief judicial magistrate orders booking of directors of Gayatri Hospitality and Realcon Limited for fraud, forgery, and cheating over incomplete project Gayatri Aura in Noida.
The government has introduced draft rules ensuring developers compensate buyers for delayed project completions, aiming to enhance accountability in real estate transactions.
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.
Yamuna Expressway Industrial Development Authority cancels Supertech's Upcountry project due to forged documents.
Pune real estate has seen significant price growth since 2011, but sales have recently slowed. It remains more affordable than Mumbai and NCR, supporting its market.
Property prices may drop 12-17% in Delhi-NCR, Mumbai, and high-end markets by next Diwali, as developers aim to reduce inventory and increase sales. New launches have decreased significantly.
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.
The real estate market, once a high-growth sector, is currently facing challenges due to economic slowdown and revised funding rules. Experts advise caution and research before investing.
Noida and Greater Noida authorities caution defaulting developers to clear dues or face consequences, impacting flat registrations and home buyers due to financial crunch.
Chennai sees increased demand for resale homes, narrowing the price gap between new and resale properties partially driven by location, connectivity, and amenities.
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.
The Union Budget 2013-14 provided minimal direct support to the real estate sector, addressing affordable housing slightly and impacting the luxury segment negatively.
Budget 2013-14, announced by Finance Minister P. Chidambaram, introduces mixed measures impacting both high earners and common taxpayers, with changes in tax structures, luxury items becoming costlier, and benefits for first-time home buyers.
Budget 2013 offered limited benefits to the real estate sector, primarily aiding first-time homebuyers with tax deductions on home loans up to ₹25 lakh.
Budget 2013 is anticipated to favor home buyers, with potential provisions for affordable housing. Realty players seek tax exemptions and lower interest rates.
Theme-based housing is trending in the Indian residential market, driven by global exposure and increasing demand. Tata Housing and Disney are entering the market.
Odisha real estate builders fear market slowdown due to recent scams. CREDAI-Odisha Chapter forms scrutiny committee to restore trust.
Real estate values are correlated with the presence of reputable schools. High-reputation schools increase property value due to parents prioritizing proximity for admissions and convenience.
Real estate builders are turning to online reputation management systems to address negative comments from home buyers on social media due to project delays.