'Except facilitating builders in default, it is not doing anything else. Better to just abolish this institution.'
India's leading real estate developers are accelerating their push into plotted development, a segment once dominated by unorganised players but now reshaped by branded offerings, faster cash flows and evolving buyer preferences. This strategic shift is visible across markets such as Bengaluru, Chennai, Hyderabad, Gurugram, peripheries of the Mumbai Metropolitan Region (MMR) and even Tier-II cities.
Before booking a flat, buyers should confirm that the project is registered with the state's Rera portal.
'The directives to enhance last-mile funding, consider revival funds, and systemic reforms across the sector are expected to revive stalled projects, improve accountability, and accelerate the delivery of affordable and mid-income housing.'
Many buyers skip or misread critical provisions in builder-buyer agreements.
There is need for buyers to understand cancellation rules before entering into a purchase agreement with a developer.
Registering the agreement for sale remains the most reliable way for a homebuyer to secure their legal and financial interests.
Union Finance Minister Nirmala Sitharaman on Saturday announced a fresh Rs 15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. In November 2019, the Centre announced a stress fund named 'Special Window for Affordable and Mid-Income Housing' (SWAMIH), to complete stalled housing projects across India.
'Buyers should be provided either a fixed possession date or a firm date for the start of construction.'
'Consider your household's financial health and all your other goals.' 'Buying a house might seem like an urgent goal, but it is rarely the only one.'
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
In a relief to homebuyers, assets in a real estate project that have been handed over to the allottee would be kept out of the liquidation process of the company, the latest amendment to the rules by the Insolvency and Bankruptcy Board of India (IBBI) has said. The notification dated February 12 said: "For the purposes of clause (e) of sub-section (4) of section 36, wherever the corporate debtor has given possession to an allottee in a real estate project, such asset shall not form a part of the liquidation estate of the corporate debtor." Real estate experts call it a "pragmatic approach" by the regulator. "However, there are many cases where possession has not been given because the property is stuck in insolvency.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
The temple town is likely to witness a major jump in tourist inflow once flagship projects are commissioned. In the first six months of 2022, more than 20 million tourists visited Ayodhya.
'In real estate project insolvency, no one size can fit all.'
Section 19(4) of the RERA Act entitles allottees to a refund if the developer doesn't comply with the terms of the sale agreement.
Try to assess whether the broker has good knowledge of the prices prevailing in the area you are interested in, and is able to provide the pros and cons of various projects.
Look at the sanctioned plan to know the exact carpet area you will get and pay a law firm to conduct a thorough title check.
Prospective buyers must make a well-considered decision regarding whether this is the right time to buy a house, particularly with home loan rates at near-peak levels, and the risk of job losses looming in many sectors.
The long-pending legislation that seeks to protect home-buyers from fly-by-night developers is likely to be sent to the Union Cabinet for its approval during the Winter Session of Parliament.
And income tax exemption to be increased to Rs 3lakhs.
A 10 per cent increase will be allowed if the rent value is 36-45 per cent less, while a 15 per cent hike can ensue if the rent value is 46-55 per cent less than the prescribed guidelines.
India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
Firing yet another salvo at Narendra Modi government, Congress vice president Rahul Gandhi on Saturday claimed it had diluted provisions of Real Estate Regulatory Authority Bill making the legislation pro-builders from being pro-buyers.
The Congress and other opposition parties had opposed the amendments.
On the other hand, the Yogi Adityanath government has 'completed nine lakh houses under the scheme and 14 lakh are under construction', Modi said, reeling out comparative figures.
At least 50,000 units of new residential property are set to come up over the next three years
'I suggest a cut in the GST rates and an infusion of Rs 1.2 trillion into the economy in six months.'
The maximum inventories are in 1 and 2 BHK configurations totaling 587,500 units.
Unless security is given paramount importance, it is difficult for real estate activity to pick momentum in J&K.
A bench of Justices Arun Mishra and U U Lalit also cancelled the leases of Amrapali's properties granted by the Noida and Greater Noida authorities and directed the Enforcement Directorate to investigate alleged money laundering by CMD Anil Sharma and other directors and senior officials of the group.
Government has introduced the Real Estate Bill, 2013 in Rajya Sabha.
Projects in Delhi-NCR, delayed by a much as 6-7 years
Effects of the new schemes launched under the Pradhan Mantri Awas Yojana would be felt more in tier-II and tier-III cities, as not many budget or affordable housing projects are in the works in metropolitan cities.
Promoters must mandatorily deposit 70% of unused fund collected for project in separate bank account
Those looking to take advantage of current market conditions should buy only after conducting due-diligence.
The court also questioned how Amrapali Group could mortgage the entire projects and secure loan worth thousands of crores of rupees from banks when it was only an agent to develop the property.
Modi slammed opposition parties for seeking proof of the damage done by the Indian Air Force in Pakistan's Balakot.
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