In today's dynamic real estate market, comprehending the housing preferences of nuclear families is imperative for developers, investors, and policymakers. This article aims to shed light on the elements that shape the housing demand of nuclear families, home offices exploring key factors and potential solutions to meet their needs.
Tax incentives from central as well as state governments and flexible payment plans from builders will motivate prospective homebuyers to buy residential properties, according to a survey by Housing.com and Naredco Proptech firm Housing.com and realtors' body Naredco on Thursday released their latest survey report titled "Residential Realty Consumer Sentiment Outlook H2 2023-Trends and Insights". The online survey engaged over a thousand potential homebuyers.
The world is experiencing a digital revolution, and Blockchain technology is at the forefront of this transformation. Beyond cryptocurrencies, Blockchain is making waves in various industries, and one of the most promising applications is in real estate. But what makes it truly revolutionary is its potential to lift millions out of poverty through fractional ownership.
NRI real estate investment is growing in India with the improvements in the Indian real estate market. The government has also introduced reforms in the Land Acquisition Act, the Real Estate Regulatory Bill, relaxation of FDI rules, etc., which have improved the overall property market dynamics for NRI investment in India. NRIs invest in India, as they earn a considerable amount of passive income in the form of rentals. Moreover, they also can settle in India if desired. The property market in India is showing a better growth trajectory, so it is the best time for NRI investment.
But before buying property in India, here are seven things that NRIs should consider.
India is experiencing rapid urbanization as more people migrate to cities for employment and improved standards of living. According to the United Nations, India is projected to add 404 million urban residents by 2050. This massive growth in urban population is putting tremendous pressure on India's housing sector, with demand far outpacing supply - especially for affordable housing.
Mumbai remains the most unaffordable housing market in the country with an EMI to income ratio of a whopping 55 per cent, though it is a significant improvement from the 93 per cent ratio noted in 2010. In Delhi-NCR the EMI to income ratio stands at 30 per cent.
In a recent move aimed at streamlining property tax valuation for new properties in Ahmedabad, the Ahmedabad Municipal Corporation (AMC) has taken a decisive step. The corporation issued a clear directive to the tax department, outlining a specific timeline for completing tax valuation.
The Ahmedabad Municipal Corporation (AMC) has put forth a development plan for the state urban development department that emphasizes the creation of satellite towns in the surrounding urban growth centres. This strategic move aims to alleviate congestion within the main city, open up new avenues for employment and services, optimize land utilization through effective land resource management, and elevate the quality of life for its residents.
The Indian real estate market offers numerous opportunities to NRIs. There has been a resurgence in NRI interest in the Indian property market due to the Indian government’s efforts to introduce more transparency and accountability into the real estate sector.
What is the scene of NRI investment in Indian real estate? Despite the ongoing global economic slowdown, the Indian real estate market has been growing over the past few months. The growing involvement of NRI investment in Indian real estate is a significant factor in this expansion. Since NRIs have always played a significant role in the Indian real estate market, and as more and more of them look to make investments in their native countries, it is anticipated that NRI real estate investment in India will reach a record-breaking USD 14.9 billion in FY23.
The highest number of applications, 7,980, were received from the Western Zone which includes areas like Paldi, Vasna, Navrangpura and Naranpura. This was followed by 5,208 in the North West Zone, which includes areas of Bodakdev, Sarkhej, and Bopal.
These projects included phase-2 of the Sabarmati Riverfront development from Dafnala till Indira Bridge on the eastern side of the city, a government release said. While the entire project of developing 11 km stretch under phase-2 is estimated to be of Rs 850 crore, Rupani on Friday launched the phase-2 by performing the ground-breaking for various works worth Rs 95 crore for the initial stretch between Dafnala and Sadar Bazaar
Demand forecasting is a complex exercise when it comes to real estate as homes are bought for consumption, investment and at times investment-cum-consumption. However, a broad-based analysis can definitely help chart out a trend
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.
Agreeing to hear a petition filed by a batch of homebuyers in Sushant Golf City Hi-Tech Township project of Ansal API, a bench of Justices D Y Chandrachud and Indu Malhotra issued notice to the company and its chairman.
The project will also offer residential development of 8.5 acre, which will be leased out by Rail Land Development Authority (RLDA). The total construction cost estimated for station development is around Rs 190 crore and the commercial development will further cost Rs 170 crore.
According to officials, the civic body is preparing a software on which the property owner will give details about his house/commercial unit, including the total area, previous tax payment records and address.
This broad-based buying spree, which has pushed prices and sales to multi-year highs, has some parallels with a housing market boom seen in late 2009 as Singapore emerged from the global financial crisis. That forced the government to initiate several rounds of cooling measures to cap surging prices.
Stamp duty and registration fee collections in key cities, including Bengaluru, have shown a clear increase in October from the year-ago period. The Department collected 934 crore last month, which was 32 crore higher than the corresponding period last year.
Somanna said Nisarga Layout at Gungral Chatra village in Yelwala hobli has been developed on 496acre land by spending Rs 686 crore. “It will have 6,309 sites, 207 houses, 18 CA sites, 12 commercial sites and 54 parks,” he said.
The Guatam Budh Nagar bench of RERA had given its order to the relator on August 18, 2019 on a joint plea by relator's customers who had booked flats for themselves in the 'Paramount Golf Foreste' project.
The real estate market has been one of the few consistent bright spots amid the gloom of the worsening coronavirus pandemic, with buyers aided by low mortgage rates snapping up properties despite the broader economic malaise.
The COVID-19 pandemic has sped up a flight to the suburbs, with big-city condo dwellers trading up to detached homes with backyards and home offices, mirroring trends seen in cities like New York and London.
RBI has allowed lenders to restructure their book which was not more than 30 days past due as on February 29, 2020. The credit cost that has to be provided on the restructured book is higher of 10 per cent or extant provisioning held on those assets.
The UK government in July offered about 3 million British National Overseas passport holders in Hong Kong a path to British citizenship after Beijing imposed sweeping new security legislation in Hong Kong.
The NAHB/Wells Fargo Housing Market Index (HMI) rose five points to an all-time high of 83 this month, data showed on Wednesday. A reading above 50 indicates that more builders view conditions as good than poor.