Moving past the second wave of the pandemic, the commercial real estate sector is on the path of gradual recovery. Prior to COVID-19, the real estate industry was at its prime with commercial and residential activities in full swing. However, with the imposition of an abrupt lockdown in 2020, the real estate sector faced a slowdown in activities; and despite these hurdles, the industry has managed to overcome the challenges.
According to statistics provided by the government, around 37.57 lakh houses have been sanctioned under the PMAY (Pradhan Mantri Awas Yojana-Urban) scheme in the last two years for people falling within the category of EWS (Economically Weaker Section)
The Covid-19 crisis has fundamentally altered the way we live our lives. Home has gained more importance. For many people, the home has now become a hub from which we work, exercise, learn, socialize and relax. The pandemic has drastically brought a shift in the short-term and long-term investment perspective of buyers and they now have more time to reflect on the way they live and use their space before making their investment decisions. This significant shift in the behavior of buyers has further boosted demand for second or holiday homes market in the pandemic scenario.
Indian real estate has been increasingly moving towards more organization over the past few years. Though part of the process is rooted in organic growth, a part of the transformation is also driven by a liquidity crisis and RERA formation. Raising private capital is increasingly becoming difficult for small and medium-sized developers, which is often forcing them to partner with larger players or get acquired by them. RERA has also stipulated that developers need to now earmark 70% of the receivables into escrow accounts, which has further affected their funding mechanism
Panvel is situated in the district of Raigarh at the entrance of the Konkan Division and has a history of the Mughal regime for some three hundred years. Since it is close to Mumbai, this is a very famous spot. Once a major "Rice Market" near Mumbai was known to Panvel
Purchase and sale through the internet, has become the most common option nowadays. Similarly in recent times for selling a house or any property people have a normal tendency of depending on online services. However, selling of property through brokers has its own benefits and advantages. So even after the numerous online options, sale in real estate through brokers are always wiser
Total income stood at Rs 50.70 crore in the second quarter of this fiscal, as against Rs 1,101.90 crore in the corresponding period of the previous year, according to a regulatory filing.
According to sources, the annual property tax of Vidhan Bhavan premises is around Rs8 lakh. The department had been paying the tax regularly till 2015-16 but hasn’t paid a penny since 2016-17.
