Indian real estate began 2024 strongly, with residential property demand rising despite price increases. Top cities saw increased housing sales, indicating market resilience.
MAHARERA revokes registrations of 13,785 real estate agents for regulatory non-compliance, emphasizing integrity and accountability in the industry.
MahaRERA's conciliation forum boasts a 35-50% success rate in resolving disputes between homebuyers and developers, handling over 1,200 cases since 2018.
The Dwarka Expressway's opening is revitalizing Gurugram's real estate market, boosting residential projects and driving property prices higher as connectivity improves.
The Supreme Court directed Lodha Crown Buildmart to reimburse a homebuyer ₹2.25Cr with 12% interest for a delayed apartment in Lodha Evoq, Wadala, overturning NCDRC's order.
Mumbai's real estate market saw a 21% YoY increase in property registrations in February 2024, despite a 22% drop in stamp duty collections. Residential units dominate the market, with smaller apartments gaining popularity.
MahaRERA and ASCI partner to use AI for identifying non-compliant real estate ads, enhancing transparency and protecting homebuyers' interests.
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.
Karnataka High Court directs state government to recover funds for delayed Bengaluru projects within four months, following homebuyers' grievances over sluggish RERA order execution.
Kailash Nagar in Thane attracts investors and homebuyers. Ready reckoner rates, determined by the State government, are essential for property transactions in this area.
Homebuyers are increasingly favoring low-rise properties over high-rises, seeking community, privacy, and larger living spaces. This shift is driven by factors like enhanced safety, lower maintenance costs, and greater resale value.
Studio apartments in Bangalore are becoming the preferred choice for young professionals, combining affordability with practicality in urban living.
Homebuyers can now check details of project and developer complaints on the MahaRERA website, enhancing transparency and aiding informed decision-making.
UP RERA imposes Rs 1.4 crore penalty on nine developers for non-compliance with orders at its 84th meeting. The Authority aims to protect homebuyers and ensure developers adhere to regulations.
MahaRERA has issued recovery warrants worth Rs 633 crore against errant builders in Mumbai, Pune, and Thane to protect homebuyers' investments.
Noida homebuyers face increased EMIs due to delayed apartment registrations. Banks are charging an additional 2% interest because of unresolved issues between the Noida Authority and developers.
MahaRERA has listed over 3,400 real estate projects as lapsed due to delays, limiting developers from selling until extensions are approved by stakeholders.
BRERA urges government to form a team to help homebuyers recover dues or get possession from defaulting real estate companies.
MahaRERA orders Radius Estates to refund 14 homebuyers of the Ten BKC project due to delayed ownership and failure to pay pre-EMI, alongside imposing a fine on the developer.
Parsvnath Developers sentenced to prison for delayed refunds to homebuyers, highlighting the issue of pending apartments in Greater Noida. Over 1 lakh apartments remain undelivered, with builders owing GNIDA ₹6,000 crore.
BRERA has taken action against three developers for violating rules, freezing their accounts and banning the sale of residential units due to buyer complaints.
The RBI's three-month moratorium on home loan repayments aims to alleviate financial burdens for homebuyers amidst COVID-19, aiding economic stability and liquidity for developers.
Delhi NCR's realty market faced ambiguity due to debt procedures. Faridabad led new project additions, followed by Gurgaon and Greater Noida. Delayed housing units further impacted sales.
RERA will be fully implemented nationwide from May 1. Noida Authority will upload detailed project information online. Homebuyers seek transparency and tracking of construction progress.
The new Union bill enhances transparency in Greater Noida's real estate, empowering homebuyers while addressing builders' concerns amidst rising demand for affordable housing.