Owning the property is the dream of many people in today’s time especially for a couple. Had it been some decades ago, owning a property would sound so simple and affordable. People in those times owned several square feet of land and it doesn’t seem to be a big deal for anyone. However, the time has changed and now owning a property is not that simple due to increased cost, raised tax, and several other barriers.
While making an important decision such as buying the property,
What is Pradhan Mantri Awas Yojana (PMAY)?
As the economy grows, it is expected to see growth in the lifestyle of a human being. A House represents an indicator of many parameters of a human being. Given the present circumstances, a house is one of the basic requirements of Human survival, a significant social security, an economic pillar and a status of stability. A house for a homeless family brings a variety of changes in his life by integrating him into the social mainframe.
One of the most globally recognised sectors, the Indian real estate domain holds a promising future with an estimated investment of US$180 billion by 2020. Considering the huge capital investment that goes into it, discrepancies in the system is inevitable.
Since the past numerous years, there have been frequent reports of malpractices by certain fly-by-night developers who have duped people into purchasing properties; incidents of legal frauds and bookings for projects without the posses
Haryana government has revamped its policy to give impetus to housing
for the economically weaker sections under which every developer of a
licensed colony is bound to earmark plots for the EWS, to be
transferred to Haryana Housing Board. for the construction of
In order to ensure that people belonging to weaker sections of
society, especially those below poverty line, get shelter, various
state governments have introduced policies
As the key reforms of Real Estate Regulation & Development Act (RERA) and GST settle in and their initial disruptive effect blows over, the revival of residential real estate facing severe slowdown for the last over 2-3 years, is gathering momentum. Housing supply has seen qoq rise in sales in the first quarter of the year, in 7 key cities across India, with 25 percent increase in absorption. in April. The worst hit NCR has seen sales substantially picking up this year,
The decision of the newly formed premier development agency of
Gurgaon- Gurugram Metropolitan Development Authority (GMDA), to
formulate a new policy to effectively address the issues of
connectivity gaps and deficient infra plaguing new sectors of Gurgaon,
is likely to give a desired boost to real estate in the area.
The new sectors in Gurgaon from Sector 58 to Sector 115, have of late
been facing serious problems, related to external and internal
development owing to lack of
Maharashtra state which is a front-runner in the implementation of Real Estate Regulation & Development Act, 2016 (RERA), has also earned the distinction of being the first state to constitute Conciliation Panel under RERA to mediate between builders and buyers. The panel comprises of members from real estate industry associations and consumer bodies. Under Conciliation Panel/Forum, Maharashtra RERA has set up 15 benches in Mumbai region and Pune. This is an alternate dispu
The J & K government’s recent move to abolish stamp duty for property in women’s name, may have not just far reaching economic consequences for women in the state but also set a precedent for other states to bring down property transaction costs with a view to boost housing, particularly affordable housing. Besides waiver for women, J & K government has reduced stamp duty for men from 7 percent to 5 percent for urban areas and from 5 percent to 3 percent in
In line with government’s progressive policies, providing impetus to
low- cost homes for achieving the aims of its ‘Housing for All’
mission, housing finance companies (HFCs) have tailored their business, targeting low- ticket home loans.
The increasing focus of HFCs on low- ticket home loans (5- 25 lakh) along with tapping non- salaried housing loan seekers, is paying rich dividends. Reliance Housing Finance has registered 20 percent growth in Q
A spate of landmark reforms undertaken by the government including RERA, GST, Liberal FDI Norms, has given a much needed momentum to the fund flows to debt- ridden, cash- starved real estate developers.
These reforms have particularly boosted the confidence of global investors and institutional investors who are now more keen to invest in real estate. This is evident from real estate gaining $257 million of FDI in 2017. The reforms have also bridged the trust deficit of property buy
NEW DELHI: In its effort to make 'housing for all by 2022' a reality, the Centre has proposed to ease green norms for the building and construction sector where projects up to 50,000 sq metres will not require prior 'environmental clearance'.
The environment ministry had last week issued a draft notification in this regard, increasing the threshold of built up area for getting this relief from 20,000 sq metres to 50,000 sq metres. Such projects will, however, have to f
Housing prices fell by an average 7 per cent during January-March in nine major cities over the previous quarter as developers cut property rates to boost their sluggish sales, according to real estate research and analytics firm PropEquity.
New Delhi: Housing prices fell by an average 7 per cent during January-March in nine major cities over the previous quarter as developers cut property rates to boost their sluggish sales, according to real estate research and ana
It is a sheer irony that on one hand, large number of poor people are
either homeless or are forced to live in slums and on the other hand,
homes built for the poor by the government, lie vacant. The available
statistics suggest that in Delhi alone, around 26000 flats, out of a
total of 28000 built for the poor, remain unoccupied. In Bawana area
of Delhi, only around 15 percent of the total of about 1900 flats
built for the poor families, have been occupied.
Urban planners att
Maharashtra government’s recent decision to unlock 3685 hectares of public and private land, tagged as ‘no development zones’ to create a million affordable housing units by 2034, is a laudable step.
According to the Development Plan 2034, out of the total 3685 hectares, about 2000 hectares (including 330 hectares of salt pan) will be used for affordable hosing
This significant development, welcomed by the industry experts, has put the spotlight on the nee
Signature Global will start the process of delivery this year, for its
retail developments, branded as Signature Signum, Three of these
commercial developments in Sector 107, Sector 81 and Sector 71, will
be the ones out of nine of these projects, which will be delivered
this financial year.
These commercial developments are part of Signature Global’s group
housing projects.These are meticulously planned modern commercial
complexes, with uniquely designed shops and
The newly-constituted H-Rera has informed it has heard 60 complaints by homebuyers on April 10 and April 12 during the past week. The authority has given 1-2 weeks as time for respondents to file their replies. It has also declared it will conduct hearings on Tuesdays and Thursdays every week.
H-Rera (Gurugram), which became functional on February 4, conducted its first hearing on March 27, when it imposed a Rs 30 lakh penalty on a developer, who advertised its real estate project in coll
GURUGRAM: The supply of affordable housing in Gurgaon, one of India’s largest real estate markets, is expected to see a significant boost, after the department of town and country planning (DTCP) invited fresh applications for licences to build over 3 lakh affordable housing units.
Haryana amended its Affordable Housing Policy 2013 in October 2017, to extend an existing cap of 300 acre in Gurgaon district to 1,935 acre. Based on the earlier cap, DTCP had issued affordable housing lice
Over the past few years, the trend of celebrity-endorsed real estate projects had caught on. Riding high on the appeal of popularity and credibility of the sports and film celebrities, developers were able to convert home aspirants, especially during downturn. However, of late, due to exceptionally high rate of project delays by developers including those taking services of celebrity brand ambassadors had shaken the confidence of home buyers.
In this backdrop, the home buyers h
Today, the real estate sector is facing the biggest problem of project delays. The problem has assumed a crisis situation in residential real estate with lakhs of home buyers, waiting for years to seek possession of their homes. According to a recent Assocham study, as many as 826 projects are running behind schedule across 14 states with the highest average delay of 45 months in Telangana, followed by 44 months in West Bengal, Odisa and Haryana. A JLL study puts the number of unsold (i
The recent initiatives of clearing land and resettlement hurdles to fast track construction of Dwarka Eway and undertaking key infrastructure projects around it, will provide the much needed impetus to the expressway . In a major connectivity boost to Dwarka Eway, , NHAI has announced to build a 5km link road from Bijwasan railway station up to T3 International Airport. On the other hand, Haryana government has also intensified its efforts to link Dwarka Eway through a metro rail