UPRERA extends project registration validity by three months due to the national lockdown. Deadlines for project completion and other statutory compliance are also extended.
ICRA forecasts that the coronavirus outbreak may create negative economic dynamics, which could reduce real estate company revenues and construction capacities. This could increase credit pressures.
Pune's residential real estate market witnesses growth with new launches and stable prices, expecting a boost during Gudi Padwa
The government has introduced draft rules ensuring developers compensate buyers for delayed project completions, aiming to enhance accountability in real estate transactions.
The housing ministry intends to introduce a real estate regulator to curb sector illegalities. The bill, aimed at safeguarding buyers, defines carpet area and mandates project registration.