RBI's decision to hold key policy rates steady has disappointed real estate developers, who were hoping for a reduction in borrowing costs. Industry leaders believe this will negatively impact the sector and hinder funding for projects.
Mumbai's real estate exhibition has reignited hope among builders for a festive revival despite sluggish sales and stable prices in the market.
Maharashtra High Court orders real estate builders to pay 5% VAT by October 31, but many developers are pressuring buyers to pay due to lack of proper records.
CREDAI urges faster environmental clearances to meet the rising housing demand. Lalit Kumar Jain highlighted project delays due to the Ministry of Environment.
Real estate Private Equity firms face liquidity issues due to demands for increased transparency from investors. This situation is seen globally, not just in India.
Arvind Kejiriwal launched his political party, India Against Corruption, on October 2, 2012, aiming to combat corruption in Indian politics and attract public support.
Gurgaon farmers allege land grabbing by real estate developers with the consent of the Authority. They claim that government urbanization plans are meant to benefit developers, not farmers.
Nitin Gadkari and Purti Group face allegations of a real estate scam involving farmers' land. Arvind Kejriwal, leader of India Against Corruption (IAC), accuses Gadkari of wrongdoing.
Ex-cop Y P Singh accuses Sharad Pawar of involvement in a real estate scam linked to the Lavasa project, sparking debates on political accountability and corruption.
Noida farmers call off strike, allowing builders to resume halted work, after Noida Authority assures to meet their demands within 5 months.
Commercial real estate demand rebounded in India during Q3 2012. Bangalore led office space absorption, followed by Hyderabad and Mumbai. Rental markets remained stable.
The Supreme Court of India criticizes SEBI for failing to take legal action against the Sahara Group for not complying with an order to produce investment documents.
India's real estate growth sparks concerns over rising energy consumption, with buildings accounting for 32% of total electricity usage, prompting calls for better implementation of Energy Conservation Building Code
Labor shortages in Greater Noida, Noida, and Yamuna Expressway delay housing projects, impacting real estate builders and homebuyers. Government schemes like JNNURM and NREGA, while successful, are blamed for limiting labor migration.
Deccan Chronicle Holdings plans to sell the IPL franchise Deccan Chargers to Kamla Landmarc Real Estate, amidst ongoing court proceedings and shareholder approvals.
CREDAI anticipates a 20% rise in housing sales in major Indian cities, spurred by lower interest rates. They also address environmental clearance delays.
Real estate secures the top spot as India's preferred investment choice, surpassing gold and silver, due to economic uncertainties and rising rural incomes.
The Allahabad High Court halted construction on residential projects in Noida Sectors 120 and 75 after farmers petitioned, alleging improper land acquisition processes.
Telenor and Unitech dissolve their Indian telecom joint venture, Uninor, following the 2G spectrum scandal. Telenor plans to establish a new entity and participate in upcoming spectrum auctions.
Motilal Oswal plans to raise a 500-crore residential real estate fund, IREF-II, offering debt and equity funding. Despite a market dip in PE investments, they aim for a 25-27% return over four years.
Continued population growth in India creates a pressing need for additional housing, with major cities demanding over 2.1 million new units by 2016.
The Indian government dismissed inquiries into claims against Robert Vadra and DLF Ltd. Vadra denied accusations of using political power for illegal land deals. DLF shares fell sharply.
West Bengal government plans to allow real estate builders to resume construction of townships after a six-month halt. The state may grant 14Y clearance for projects if 51% is set aside for commercial purposes.
Private equity (PE) firms, once major real estate investors, now seek exits due to low returns. Over-optimism and soaring valuations have led to challenges, prompting caution.
CREDAI urges 10,000+ members to reject bribery, combatting corruption allegations in real estate. President Lalit Kumar Jain announced an "all-out war" against corruption, advocating for administrative reforms and transparency.