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.
Greater Noida Authority has decreased real estate transfer fees on resale properties. For residential properties, transfer fees have been reduced to 2.5%.
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.
MahaRERA mandates disclosure of apartment sales and reservations to curb fraudulent practices by developers and protect buyers.
CREDAI-MCHI urges Maharashtra government to reduce stamp duty to 2% in Mumbai to revitalize housing demand amidst the COVID-19 pandemic, citing reduced sales and state revenue.
UP-RERA is working alongside the state government to address the deadlock in flat registrations, impacting over 50,000 home buyers in Noida and Greater Noida.
Jaypee Wish Town plans to deliver 6,000 apartments by 2022, including new and renovated units, with construction ongoing despite previous delays.
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.