House price rises in India will gradually accelerate over the coming years but undershoot consumer inflation at least until 2023, according to a Reuters poll of property analysts who expect affordability to improve
Opposition parties have urged the government to focus on job creation rather than investment or selling land, given J&K is facing a massive unemployment crisis
Despite Omicron worries, sectoral experts are positive in their outlook for the residential real estate market. Luxury residential premises and multi functional homes are likely to see good demand
As for the buyers who can afford it, the crisis became a good opportunity to upgrade into a bigger space or diversify their investment portfolio by buying real estate at much affordable prices
The fundamental headwind today is the uncertainty around the spread of Omicron, the new variant of COVID, as it has the potential of creating another round of disruption, he said
The registration of homes in full 2021 was the highest in a decade."These strong numbers reflect the confident mood of homebuyers," says Amit Goyal, CEO of India Sotheby's International Realty
A total of 39 MoUs were inked between the NAREDCO developers and the government of Jammu & Kashmir, involving an investment of Rs 18,900 crore for residential, commercial, hospitality, infrastructure, and three film and entertainment projects
Bengaluru has moved down one spot up against the previous quarter in the index, to rank 42, as the quarter registered a 1.1% YOY price fall in the prime markets. Prices remained stable in Q3 2021.Mumbai remains in the 40th position in Q3 2021, holding the same rank in the previous quarter, as prices fell marginally by 0.1% YOY. In case of Mumbai too, prices are higher 0.2% QoQ in Q3 2021
Tata Housing Development Company (THDC), one of India’s leading real estate development companies, announced its pan India festive campaign ‘Right Home, Right Now’. the Designed keeping in mind customer expectations such as low interest rates against the backdrop of economic slowdown amid the second wave of the pandemic, the campaign will focus on easing the buying journey of the home buyer to provide a grand home buying experience with unique offers
Hyderabad accounted for 31 per cent of new launches between January-September 2021, followed by Mumbai (18 per cent), Pune (17 per cent), Bengaluru (16 per cent) and Delhi NCR (10 per cent), showed data from JLL
Only 17% of PE investment in the residential segment allocated to affordable housing since 2011. Ministry of Housing and Urban Affairs pegs affordable housing demand at approximately 11.22 million houses by 2022
Registration of residential properties in Mumbai municipal region stood at 1,441 units during the first week of November on strong demand during Diwali festival, according to Knight Frank India. The registration data is for properties bought in both primary and secondary (re-sale) market
Construction in progress in India. House prices would grow on average 2.5% nationwide this year, an upgrade from next to nothing, 0.75%, expected in a survey three months ago
The growth trajectory was derailed in the second quarter of 2021 as the second wave of the pandemic hit an unprepared India. Nevertheless, residential sales were far more resilient during the second wave when compared to the first wave
Indians love to bargain. A shopping trip for an Indian consumer isn’t successful unless s/he manages to attain something at a ‘negotiated’ price from the seller. And the same applies to Indian homebuyers. If you have zeroed down on your dream house here are some tips to help every aspiring home owner get the best bang for her/his buck
Imagine standing on your balcony, sipping your coffee, and looking at the long stretch of city lights. That’s the benefit of living in a high-rise apartment
Arunachal Pradesh Land Records granted land rights for the citizen of the state and after that only the state government has also moved towards fast digitalisation of its land record. Under the Arunachal Pradesh (Land Settlement and Records) Act of 2000, the state people did not have land titles
This trend will continue in 2021 as the festive season is about to kick in which has been traditionally the best time for home purchases across India - Samir Jasuja, MD and Founder of PropEquity
Other factors for the rebound is banks lowering their rate of interest for housing loans, increased information technology recruitments and improved salaries in several other sectors
The city of Pearls is the second most expensive city in India in terms of the residential property market in India after Mumbai. The latest survey report from Prop Tiger.com (a Pune-based property portal) has stated that Hyderabad city in the third quarter this year, (i.e. July to September) reported a massive jump in residential property sales
Industry experts feel prospective home buyers may find this time suitable, given the discounts on offer by builders and low interest rates in the economy
The devastating impact of the second wave of COVID-19 in India will stagnate price growth by crushing demand and offsetting the benefits given to builders by the government
The latest report by Square Yards titled ‘India Residential Overview: Jul-Sep 2021’ captures the residential trends across the top six cities in Q3, 2021. The cities covered in the report include MMR, Pune, Gurugram, Noida, Bengaluru, and Hyderabad
Around 2,975 units have been launched in Chennai in the current quarter, contributing approx. 5% of the total new supply across the top 7 cities in India
The performance in October, with normal stamp duty rates, has also surpassed the registration numbers seen during the year-ago period, when a total of 7,928 deals were registered during a period of stamp duty rebates
As per the data available from the Government's Department of Registration and Stamps, the month of September 2021 saw 7,799 properties being registered in Mumbai, up 15% from the previous month of August 2021 which saw sales of 6784 units and 39% from a year ago where September 2020 saw sales of 5597 units in spite of the stamp duty cut announced by the Maharashtra Government during that period
Bullish on demand DLF Ltd has identified a robust pipeline of new projects and will launch 35 million square feet area in medium term with a sales potential of around Rs 40,000 crore
The festival season is crucial for the real estate sector, and it is strongly believed that the housing sector will perform exceedingly well over the next several quarters
The growing need for home ownership and stable employment scenarios led by sectors like information technology and healthcare drove housing demand during the quarter
The sentiments in the real estate market had turned pessimistic during the April-June quarter because of the outbreak of the second wave of the Covid-19 pandemic
Thirty million families who did not have a pukka roof above their heads have got a chance to become millionaires only through one scheme, "it is a big feat", Modi said
The Union Cabinet, in June 2021, approved The Model Tenancy Act, 2021 for circulation to all states and UTs for adoption by way of enacting new legislation or amending the existing rentals laws. The Model Tenancy Act, 2021 aims to create an effective regulatory ecosystem in India to govern landlord-tenant relationships
A ‘completion certification’ is a mandatory legal document, which attests that a new building has been completed according to safety norms and regulations of the Buildings Act
Nagpur: Realty sector has reportedly regained momentum as the city is moving to normalcy post the second wave of Covid-19 pandemic. Implementation of new unified development control and promotion regulations (UDCPR) has also helped.
Nearly 35,000 notices to property owners running commercial activities after taking residential permission have been issued by the Greater Hyderabad Municipal Corporation (GHMC's) town planning wing.
The real estate sector is divided into four sub-sectors -- housing, retail, hospitality and commercial. It is the second-highest employment generator, after agrarian.
As a part of the Affordable Rental Housing Scheme, as many as 60,000 homes have already been cleared. Besides, 500 rental housing units under the affordable category are now operational in cities like Ahmedabad, Surat, and Chandigarh. Another 7,000 homes under this category are in different stages of the construction process. In this regard, it should be noted that the government has sanctioned 60K homes recently under the affordable housing category. These homes will be constructed by private or public agencies, or certain organizations that are under the ARHC (Affordable Rental Housing Complexes) scheme.
The Times of India Group Virtual Real Estate Expo for NRIs showcased the finest properties across Kolkata, enjoyed great participation from property buyers, investors, agents and visitors.
Mumbai-based Anarock, which is one of the leading housing brokerage firms in the country, had clocked an 18 percent growth in its revenue at around Rs 305 crore during the 2020-21 financial year despite the pandemic.
Strong fundamentals like increased affordability, transparency and alignment in demand and supply will keep the demand for residential real estate investment upbeat over the long term
The pandemic has brought uncountable hardships and havoc, the housing market has recovered better than most other segments due to low mortgage rates and a shift from urban to suburban lifestyles. After the first lockdown, people realized the benefits of owning a home; therefore the second wave of COVID-19 had little impact on the industry. By supporting construction workers in being vaccinated as soon as possible, it boosted construction conversation. The vaccination campaign is likely to be expedited even more, lowering the risk factor. Vaccines' broader reach ensured better management and increased construction activity, which benefited realtors.
The Karnataka Legislative Assembly has passed an amendment to the Stamp Act, 1957, slashing the stamp duty. The 2% reduction is applicable only on first-time registration, primary sales in other words.
Gurugram (Haryana) [India], September 3 (ANI/NewsVoir): Leading realty players in Gurugram are optimistic that the growth in the Indian residential segment will peak in 2023, as outlined in the recent ANAROCK report.
The Cabinet directed the Housing and Urban Development Department to start the construction of houses for 32,000 economically weaker section (EWS) on priority.
Value of owning a home gains momentum in India
The value of owning a home is underpinned during the Covid-19 crisis and it gained momentum on grounds of safety and stability it offered.
Sustainability in the real estate context is not only limited to energy conservation but also includes the use of resources, impact on the surrounding environment and living conditions for inhabitants.
India ranks only second after the US in terms of the number of green technology projects and built-up area
The resurgence of demand for homes in Q3 and Q4 of FY 2021-22 was the only silver lining in an otherwise bleak year for the real estate sector. After the uncertainty witnessed between March and September 2020, residential sales demonstrated commendable recovery by recording huge sale volumes across price points in Q3 and Q4 of FY 2020-21. Measures such as stamp duty reduction, low interest on home loans and pent up demand helped pave the way for a short-lived but timely recovery.
Goa is known to offer a local heritage living experience to city dwellers. Some people looking to buy homes here are looking at working permanently from a more scenic location. This is leading to prices soaring in some micro-markets of Goa.
Higher demand in Mumbai for larger homes, According to a recent Knight Frank report, the Mumbai region witnessed property registrations jump to a 10-year high for July 2021.
Sales of residential properties in Pune were down by nearly 20.6% year-on-year (Y-O-Y) in the first half of 2021 at 16,220 units. A total of 20,431 units were sold during January-June period 2020. Total new launches in the city during the January-June period of 2021 stood at 12,558 units, 26.3 per cent up over 9,944 units unveiled in the same period of 2020.
Thorat said, “The revenue ministry has emphasised on e-registration of properties. The digital registration process will enable sale and purchase of housing projects.
Mumbai: The Bombay high court has issued notice to Vasai Virar Municipal Corporation (VVMC) on a petition alleging that the corporation wants to acquire part of their building for constructing a tunnel for the Mumbai-Gujarat Bullet Train.
Under the Real Estate Act, the central and state governments, are required to notify their own rules under the Act, six months, on the basis of the model rules framed under the central Act
As the concept of fractional ownership of real estate is gaining momentum, it can open up new investment opportunities to a large segment of smaller investors
Investors with a higher appetite for risk should only venture in this sector given that it is cyclical and the companies do carry some amount of leverage, said an expert
Demand for ultra-luxury properties in neighbourhoods such as Vasant Kunj, Vasant Vihar, Golf Links, Sunder Nagar and Shanti Niketan was high, with 1,991 deals registered in FY21. By contrast, 1,780 transactions were recorded the previous year, data gathered by statistics aggregator Zapkey.com showed
Real estate brokers form a large part of the real estate segment and they are typically the face of the industry. One company that strongly believes in this is eXp India. One the fastest-growing real estate tech companies in the world, eXp Realty offers a unique financial model for these residential and commercial real estate agents by going beyond attractive commissions to provide their agents with revenue share and equity ownership opportunities. The company’s cloud-based virtual environment and customized technology platform that enhances virtual prospecting, sales, training and communications for agents, is set to revolutionize the Indian market. The Sunday Guardian spoke to Shashank Vashishtha, Executive Director, eXp India, on several topics
The Covid-19 era presents a radically transformed real estate market, with preferences changing to accommodate new realities. With the lockdown proving that work-from-home is a viable option, many future homebuyers will now shift to peripheral areas of a city for bigger homes and a better lifestyle—at more affordable prices
: From a residential standpoint, the report cites that India’s high vacant stock of total residential census houses can be brought within the fold of formal rental housing once this Act is implemented by states and union territories in letter and spirit
The ongoing pandemic situation has not only paused the world and confined us to our homes, but it also has stalled our dreams. The dream of higher education, career growth, starting or expanding a business, or buying a home. But all is not lost
The markets and stakeholders who would take cognizance of the factual positions and evolve strategies to make the most of the demographic dividend emerge as the winner
The second wave of Covid-19 and the rollback of the stamp duty cut in Maharashtra impacted the housing sales in April, showed a report by Knight Frank India
Residential housing sales and launches saw a decline in the months of April-May in top property markets of India as the second wave of Covid-19 impacted several market sectors in India
In the webinar by home-grown flex workspace provider, Awfis, on the strategies that needs to be adopted by the CRE market to successfully navigate the second wave of the pandemic, experts said that traditional sources of capital – banks and NBFCs, will be constrained at least for the next 24-36 months
The regulator is looking to streamline the process of hearing and disposal of the complaints referred to MahaRERA Conciliation and Disputes Resolution Forum, for which the procedural guidelines should be prescribed by the MahaRERA for hearing of complaints referred by MahaRERA
In these extraordinary times, real estate stakeholders across sectors have an opportunity to structurally reimagine their strategies to ensure sustained recovery
Affordable Housing for all was first carved as an objective in the National Urban Housing and Habitat Policy (NUHHP), 2007 of India. It rose to prominence in the aftermath of the Global Financial Crisis (GFC) of 2008 when muted real estate demand and the economic slowdown prompted Indian real estate developers to focus on affordable housing. However, the biggest boost came when the Government of India launched the Pradhan Mantri Awas Yojana (PMAY) – Urban in June 2015
The spike in supply numbers could be attributed to the increase in home-buying interest in the aftermath of the coronavirus pandemic and also the fact that new launches were muted over the prior three quarters
As India starts the process to roll out the Coronavirus vaccine by mid-January, the positive impact of the inoculation programme will also be seen in the country’s real estate segment
: This year has been an interesting one for India's real estate industry from a legal and regulatory standpoint, with several legislative changes being introduced to boost consumer confidence in the sector. Going forward, it is these changes that would power the recovery of the sector as a whole
India is one of the fastest growing real estate markets globally and the residential segment is a major contributor, accounting for 80% of the overall market
With Ahmedabad as a case study, the report by Anant University on ‘Paradox of Vacant Houses in India’, said the phenomenon of keeping the house vacant was observed across the board in the country. But the study found this to be more acute in the affordable segment.
The developer, Siddhi Vinayak Enterprise, had marketed a project Windward Business Park in Vadodara and received bookings for the same without registering the project with the Gujarat Real Estate Regulatory Authority.
Pune Zilla Parishad chief executive officer (CEO) Ayush Prasad has sought plots from district collector Rajesh Deshmukh in those villages in a letter dated January 4.
Cooperatives sector experts said as per a model bylaw of 2014, even if the general body decides on using it by defining its purpose, there is no need for the society to seek the deputy registrar or coop department's nod.
"At a time when the Worli and N M Joshi Marg BDD chawl redevelopment project is moving ahead it would have been unfortunate for this important project in central Mumbai to be stalled. This is good news," he said.
The pandemic has worsened the slowdown in India’s housing sector. However, home sales picked up in Q2, on the back of stagnant prices, lower interest rates and pent-up demand, even as they remained lower than 2019 sale levels. Mint explores the state of India’s real estate.
Spread across approximately 18 acres, this project will offer 2.4 million square feet of saleable area comprising primarily of residential apartments of various configurations
Prestige is also said to be in talks with US private equity giant Blackstone to sell its rental income assets in a deal worth $1.7 bn, making it one of the largest real estate portfolio buyouts in the country.
The COVID-19 crisis has come as a sudden blow to the real estate sector in India. In addition to the halt in construction activities in the first three months of the outbreak of novel Coronavirus, there has also been a significant drop in the number of new residential launches across major metro cities since March 2020. In Apr-Jun 2020, hardly 1,400 housing units were added across top eight metro cities.
The Lucknow Development Authority (LDA) has prepared the plan for the creation of a township of 6,000 residential units. Around 22,000 people are expected to receive accommodation in these units, and 1,500 commercial units would be included in the township.
The COVID-19 crisis has taken a severe toll on the property registrations across States. While Gujarat bore a loss of Rs 1,300 crore due to the negligible real estate transactions amid the lockdown, Karnataka declared a decline in the revenue collections to the tune of Rs 1,000 crore.
If you are planning to buy a residential plot in Hyderabad within Rs 30 lakh, then the micro-markets along the Outer Ring Road (ORR), including Tukkuguda, Mansapally, Adibatla, Yachram and Shadnagar have gained immense popularity over the last few years. These pockets not only provide scores of options for potential investors but also promise high Returns on Investment (ROI).
With big-ticket investments fueling Hyderabad’s real estate market, land prices in the city have witnessed an exponential increase in the last few years. The prices have escalated by almost 100 percent in some of the key areas, especially along the IT Corridor of Hyderabad, which has emerged as the most expensive market in South India, leaving the two most prominent cities, Bangalore and Chennai, behind.
In 1985, BDA passed a notification to acquire survey number 75 in Nagawara for forming the HBR II Stage layout, and the related acquisition was done in 1988.
The development gains significance as it comes amid soaring numbers of house allottees defaulting on payments and thereby causing revenue loss to the housing board and development authorities.
1,500 hutments were demolished in Ambedkar Nagar in 2017 for allegedly encroaching on mangrove land; committee set up to examine if slum dwellers can be rehabilitated.
The survey was conducted online covering over 2,500 prospective homebuyers from Mumbai Metropolitan Region, Delhi-NCR, Bengaluru, Hyderabad, Chennai and Pune.
"The speed with which these houses were constructed is a record. The construction of a house under the PMAY used to take an average of 125 days earlier. But in the coronavirus period, the average time taken for it came down to 45 to 60 days, said PM.
In the wake of the pandemic, many lessors have extended rent concessions to lessees. However, applying the Ind-AS 116 requirements for changes to lease payments could have posed practical difficulties in the current situation.
The Ministry of Rural Development has also completed construction of around 72 lakh houses under Indira Awas Yojana totaling construction of 182 lakh houses since 2014.
Buildings first converted into a shelter for migrants and then into quarantine center; beneficiaries say rent not paid in 7 months, the builder says all payments made till March.
A senior DTCP official said most of the complaints centred on high maintenance charges in affordable houses, poor construction quality and demands for a structural audit of projects, absence of roads, pending occupation certificates and lack of amenities.
As per the guidelines, the private and public entities will also get loans at lower interest rates through the concessional window under the Affordable Housing Fund by housing finance companies and priority sector lending by commercial banks.
The developer will be allowed a floor space index of 2.5 in a green zone. The 15,000 EWS units will comprise 50% of the project, while the balance will be for sale in the open market.
“Over 342 cases were heard online and 187 orders issued during the period,” a MahaRERA official said, adding that the office was at present working in a 100% digital way.
