The Indian government plans to raise Rs 15,000 crore through the monetization of its urban real estate assets, including several residential colonies in Delhi and eight hotels owned by the India Tourism Development Corporation (ITDC).
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.
Noida may see a rise in circle rates for the first time since 2017. Noida, Greater Noida and Yamuna Expressway authorities have increased property rates.
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.
NBCC and Suraksha Group vie to acquire Jaypee Infratech, submitting revised bids with improved offers to financial lenders amidst insolvency proceedings.
Naredco has urged developers to establish isolation facilities for Covid-impacted construction workers in Noida, Greater Noida, and Yamuna Expressway area.
Real estate developers are requesting loan restructuring, interest moratoriums, and more liquidity support from the RBI after their Covid relief package announcement.
Jaypee Wish Town plans to deliver 6,000 apartments by 2022, including new and renovated units, with construction ongoing despite previous delays.
India's second COVID-19 wave threatens real estate recovery, impacting office and housing markets. Experts predict varying effects on sales and demand.
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.
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.
Prestige Estates Projects secures the highest bid for a stalled real estate project in Mulund, promising significant revenue and land development.
Gaurs Group invests ₹2,123 crore in three stalled Amrapali projects, encompassing 10,900 apartments, marking a diversification into infrastructure.
Chandigarh Housing Board is set to auction 110 residential properties via e-tendering, reducing prices by 9-20% to attract buyers and address deteriorating conditions.
Gujarat received 56,000 applications to convert agricultural land for non-agricultural use in 2019-2020, generating over Rs. 2,000 crore in revenue.
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.
Farmers in Katihar to get land registration information with a click thanks to the ETS machine simplifying land measuring tasks.
Approximately 3.16 lakh houses remain incomplete under the Pradhan Mantri Awas Yojana-Grameen (PMAY-G) scheme in Rajasthan. Districts such as Barmer, Banswara, and Jodhpur have the highest number of incomplete houses. The state authorities have issued directives to complete the pending houses by March 31, 2021.
Rajasthan's CM announces reduced stamp duty on residential properties, lowering costs for buyers and aiming to boost the affordable housing market in the state.
Delhi-NCR sees a surge in affordable housing demand, with Gurugram leading the way. Anarock's survey reveals a 10% increase in demand during the pandemic.
SEBI has levied a ₹40 lakh penalty on Shri Ram Real Estate & Business Solutions and six individuals for illicitly raising ₹40,000 via collective investment schemes.
The Delhi Government has cut circle rates by 20% across all property categories for six months to stimulate the struggling real estate market post-pandemic.
The co-working sector in India is showing signs of recovery post-pandemic, with calls for government support and recognition to bolster growth.
India's real estate sector, particularly residential, is rebounding thanks to government policies like reduced home loan interest rates and tax relief, attracting more buyers and foreign investment.
UPRERA extends project registration validity by three months due to the national lockdown. Deadlines for project completion and other statutory compliance are also extended.