The RBI's decision to hike the benchmark interest rate will make home loans costlier and affect housing sales, especially in affordable and mid-income segments, according to property consultants. The RBI on Wednesday hiked the key benchmark rate by 50 basis points. Property consultancy firms Anarock, Knight Frank India, JLL India, Colliers India, India Sotheby's International Realty and Investors Clinic said that the RBI's move was on the expected line to control inflation and this would result in an increase in interest rates on home loans.
India ranks 51st in annual appreciation in housing prices with a 2.1 per cent rise in rates during the October-December quarter of the last year, according to property consultant Knight Frank. In its latest research report titled 'Global House Price Index - Q4 2021,' Knight Frank said that India has climbed up five spots to the 51st rank in Q4 of 2021 against the 56th rank in Q4 of 2020. Turkey witnessed the highest annual price growth rate by 59.6 per cent in the year to Q4 2021, followed by New Zealand (22.6 per cent), Czech Republic (22.1 per cent), Slovakia (22.1 per cent) and Australia (21.8 per cent).
The chief minister said the restrictions were lifted as the COVID-19 situation had improved and people were facing hardships due to the curbs.
Rentals of prime offices in Bengaluru and Mumbai fell 8 per cent and 6.2 per cent, respectively, during January-March 2021 as compared to the year-ago period, according to a Knight Frank report. In its Asia-Pacific Prime Office Rental Index Q1, 2021 report, the consultant said the prime office rents in the national capital region (Delhi-NCR) declined by only 1 per cent during January-March this year as against the same period of 2020.
Registration of housing properties in the Mumbai municipal region increased 35 per cent year-on-year to 7,556 units during this month on rising demand, according to Knight Frank. The registrations for September 2021 were 87 per cent higher compared to the pre-pandemic period of September 2019. "Mumbai BMC region (Churchgate to Dahisar and Colaba to Mulund) recorded its best September month performance. Recording 35 per cent YoY growth in property registrations in September 2021, 7,556 units is a 10-year best performance in the month of September," Knight Frank said in a statement.
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Housing demand has breached pre-COVID levels with 92 per cent year-on-year growth in sales during July-September period units across eight major cities, mainly on the back of stable prices, very low mortgage rates, property consultant Knight Frank India said on Monday. Releasing its India Real Estate Update for Q3 (July-September quarter) of the 2021 calendar year, the consultant reported that housing sales increased to 64,010 units from 33,404 units in the same period last year. In the previous April-June quarter, 27,453 residential units were sold. "The total residential sales of the top eight markets under review during Q3 2021, reached 104 per cent of 2019 quarterly average," the consultant said, adding that sales have breached pre-COVID levels.
An 8-member delegation of protesters submitted a memorandum of their demands, including withdrawal of the CAA, to the L-G. The L-G appealed to them to call off their agitation as it has been 'causing inconvenience to schoolchildren, patients and general public'.
Delhi Lieutenant Governor V K Saxena has directed the chief secretary to recover Rs 97 crore from the Aam Aadmi Party for political advertisements it published in the guise of government advertisements, official sources said.
The government offices have also been allowed to reopen with 50 per cent staff.
The Indian Express newspaper, on Thursday, reported that athletes and coaches training at the Delhi government-run Thyagaraj stadium are asked to wrap up by 7 pm because Delhi's Principal Secretary (Revenue) Sanjeev Khirwar walks his dog at the facility about half-an-hour later.
Baijal reviewed the availability of beds, oxygen cylinders, concentrators, ventilators, ICUs and medical staff at the centre set up in Chhatarpur. He also congratulated the Indo-Tibetan Border Police (ITBP) on taking over the facility.
The registration of residential properties in Mumbai fell 42 per cent in April to 10,136 units as compared with the previous month, as fresh demand was affected due to the second wave of the COVID-19 pandemic and expiry of the reduced stamp duty period, according to Knight Frank India. The fall would have been steeper as over 90 per cent of the registrations were of the properties on which the stamp duties were already paid by the homebuyers before April 1 in order to avail lower stamp duties. From September 2020 to March 2021, the Maharashtra government reduced the stamp duty by 2-3 per cent to boost housing demand amid the pandemic.
The Delhi Disaster Management Authority (DDMA) on Friday allowed Chhath Puja celebrations at designated sites in the city except the banks of Yamuna river.
The ruling Aam Aadmi Party termed the LG's orders removing Shah and Gupta from the boards of discoms "illegal and unconstitutional". The LG does not have the power to issue such orders, it claimed.
Claiming non-payment of salaries to anganwadi volunteers for three months in his three-page letter in Hindi, Sisodia continued to fire a salvo at Baijal, saying: "You are the Lt Governor of Delhi. You have also been an IAS officer, but I request you to stop seeing things through spectacles of an IAS officer."
He also ordered discontinuation 'with immediate effect' of the services of a private agency which was making telephonic contact with home-quarantined individuals to guide them.
The decision was taken to prevent crowding at shops and marketplaces amid the lockdown to contain the coronaviruspandemic, a statement from Thackeray's office said.
The Supreme Court on Friday referred to a five-judge Constitution bench the dispute between the Centre and the Delhi government over control of services in the national capital.
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Housing sales across top eight cities rose 51 per cent last year, even as the office market continued to slump due to the Covid pandemic with gross leasing witnessing a 3 per cent fall, according to Knight Frank India. Housing sales increased to 232,903 units during last year, from 154,534 units in 2020, but demand was down 5 per cent from the 2019 pre-pandemic levels and 37 per cent lower than the 2011 peak numbers. In the office segment, the gross leasing of office space fell to 38.1 million square feet in 2021, from 39.4 million square feet in the previous year, due to the adverse impact of the second wave of the Covid pandemic.
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The Delhi government has approved the withdrawal of 17 cases registered during the anti-farm law stir, including one involving last year's Republic Day violence, a senior official said on Tuesday.
The national capital has so far recorded six cases of coronavirus.
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The move may trigger a confrontation between the AAP dispensation and the LG office.
Housing sales fell 37 per cent year-on-year during the 2020 calendar year while gross office space leasing declined 35 per cent on low demand because of the coronavirus pandemic, but demand improved significantly in the last quarter to cross pre-COVID level, property consultant Knight Frank India said on Wednesday. In its 'India Real Estate - Residential and Office Update H2 2020' report released on Wednesday, the consultant reported that sales of residential properties fell 37 per cent to 154,534 units in 2020 across eight cities as compared with 245,861 units in the previous year.
A recent survey discovered that Bengaluru has some of the classiest high streets in our country.
Recently, all officers and officials working at the Delhi LG office underwent the COVID-19 test after a junior assistant was found infected.
The average housing prices declined by 2-7 per cent year-on-year during July-September in Delhi-NCR, Mumbai, Chennai, Pune, Kolkata, and Ahmedabad on lower demand amid COVID-19 pandemic, according to Knight Frank India. Prices, however, increased in Bengaluru and Hyderabad by 3 per cent and 4 per cent, respectively, during July-September 2020 compared with the year-ago period. Chennai saw the maximum fall of 7 per cent, followed by Delhi-NCR and Pune at 5 per cent. Rates dipped 3 per cent each in Kolkata and Ahmedabad, while Mumbai witnessed 2 per cent price correction.
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"I request the Union home minister with folded hands to scrap the new system as people have been facing a lot of problems," Sisodia said at the online media briefing.
A group of 200 farmers will travel to Jantar Mantar from the Singhu border in buses with a police escort and hold protests there from 11 am to 5 pm, sources in the Delhi Police said.
Sharma, son of former Union minister Venod Sharma, was convicted and sentenced to life imprisonment by the Delhi high court in December 2006 for killing Jessica Lal in 1999.
The Confederation of All India Traders has approached Union Home Minister Amit Shah, Union Health Minister Harsh Vardhan, Delhi Lieutenant Governor Anil Baijal, and Chief Minister Arvind Kejriwal, and urged them to shut markets in Delhi.
h the office claiming that no proposal or file about Mohalla clinics is pending with it.
Following the Supreme Court verdict which clipped the powers of the LG, the bone of contention between the Delhi government and his office continues to be control over the services department.
In the letter, the Delhi CM urged Baijal to implement the apex court's order in letter and spirit and asserted that the ministry of home affairs does not have powers to interpret the order.
Kejriwal's remarks came after the Delhi State Election Commission sought the advice of legal experts on if it can still hold polls for the three municipal corporations here following a communication from the Centre for their unification.
