Real estate developers are sitting on around 7.85 lakh unsold housing units across eight major cities and it will take them 32 months to clear these stocks at current sales velocity, according to PropTiger. However, in Delhi-NCR residential market -- which has been adversely impacted due to defaults of many big builders like Amrapali, Jaypee Infratech and Unitech -- it will take 62 months to sell over 1 lakh unsold housing units. Housing brokerage firm PropTiger.com data showed that unsold housing inventory has increased to 7,85,260 units as on September 30, 2022 from 763,650 unsold units at the end of previous quarter.
In a letter to the Mysuru Urban Development Authority commissioner she said she was allotted the 14 alternative sites in the third and fourth phase of Vijayanagar in Mysuru against the usage of her three acres and 16 Guntas of land in Kesare village under Kasaba Hobli in Mysuru.
Due to heavy rains and waterlogging over the tracks at several locations on South Central Railway network, as many as 99 trains were cancelled and four trains were partially cancelled while 54 trains were diverted, an SCR official said.
'...We should first look at and acknowledge what we have done to ourselves.' 'To not do so opens us to the accusation of rank hypocrisy and also reduces the stature of our globetrotting peaceniks,' asserts Aakar Patel.
Authorities on Thursday bulldozed the house of an aide of gangster-turned-politician Atiq Ahmed here amid heavy police presence, the second such action in two days.
Meeting in Lucknow, the board also urged the judiciary to take a serious note of "injustice" being meted out to the weaker sections and the minorities.
The interim magisterial inquiry report and the MCD Karol Bagh zone superintending engineer report were submitted to revenue minister Atishi who alleged that the "bureaucracy" was showing "laxity" in investigating the death of the civil services aspirants.
When in Landour, discovers Supriya Newar, one of the most important things to do and that too in large measures, is to do nothing at all.
Authorities in Kuwait have launched a crackdown on illegal property extensions in the wake of a devastating fire at a seven-storey building that claimed the lives of 50 people, including 46 Indians, according to a media report on Saturday.
The authority said in its order that it believes that the movable assets and equity shares that were attached by the ED are proceeds of crime and linked to the offence of money laundering.
The Indian real estate market is on an upward cycle and residential housing continues to be the star of the sector, HDFC chairman Deepak Parekh said on Thursday. He added that unlike many other Western countries, the demand for housing in India is from genuine homebuyers and is not speculative in nature. "The India real estate market is on an upward cycle which bodes well for all of us. "The big star of the real estate sector continues to remain residential housing in India. "I hardly need to reiterate that demand for housing in India continues to remain robust," Parekh said while addressing the CII Real Estate event.
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.
In separate incidents, automatic gunfire was reported from Kwakta in Bishnupur district of Manipur and Kangvai in Churachandpur district through the night.
The police have registered a FIR against Manorama and her husband Dilip Khedkar besides five others, after a video showing her allegedly threatening some persons with a gun over a land dispute emerged.
Around 58 per cent of developers expect housing prices to increase this year because of rise in input costs, while 32 per cent builders feel it will remain stable, according to a survey. According to the 'Real Estate Developers Sentiment Survey', by Realtors apex body CREDAI, real estate consultant Colliers India and property research firm Liases Foras, 43 per cent of developers expect residential demand to remain stable in 2023, while 31 per cent feel the demand would increase up to 25 per cent. As many as 341 real estate developers from various parts of the country participated in the joint survey conducted during the last two months.
India's real estate market is poised for growth across categories - residential, commercial, and rental. Currently valued at Rs 24 trillion, or about $300 billion, it is projected to surge to $1.3 trillion by 2034, and then grow further to $5.17 trillion by 2047, indicates a report by the Confederation of Real Estate Developers Associations of India (Credai).
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.
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.
The Goa police team reached Sangwan's residence on Sunday and made some enquiries there before leaving for Gurugram to conduct further investigation, sources said.
'If the borrower can't repay the loan due to lack of income or losses from speculative activities, they risk defaulting on it.' 'This could lead to the bank seizing the property.'
Experts say this is a good time to buy a house for self-use, points out Sanjay Kumar Singh.
Rental real estate aggregators can help you earn Rs 3,000-5,000 rent daily
The chaos and fear created by the deadly protests remained. Gangs of criminals have been looting and robbing homes in the absence of law enforcers over the last two days.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
End users should take the plunge despite higher home loan rates as these tend to be cyclical.
There have been two changes announced so far as MF taxation is concerned.
The Commission of Inquiry was supposed to submit its report to the central government "as soon as possible but not later than six months from the date of its first sitting".
To overcome your fear of the property being taken over, draw an ironclad agreement with a good lawyer's help, recommends Sanjay Kumar Singh.
'Trump's disregard for norms and institutions could prove very costly for America's social fabric.'
Pakistan's Punjab police have booked former prime minister Imran Khan and 1,500 of his party workers for attacking and setting on fire a top army officer's house in Lahore.
Sex, violence, song or dance -- the monsoon serves multiple purposes in Hindi movies. With the onset of the rains, it's the perfect occasion to highlight all the cool, crazy reasons Bollywood uses it as an excuse for.
The bill to amend the law governing Waqf boards proposes far-reaching changes in the Wakf Act, 1995, including ensuring the representation of Muslim women and non-Muslims in such bodies.
According to authorities, Ghulam Nabi Khan alias Amir Khan had a wall built on encroached land as an extension to his house in Liver Pahalgam in the south Kashmir district.
Vivek Biyani, the nephew of retail veteran Kishore Biyani, will launch a retail chain focused on direct-to-consumer (D2C) brands under the name Broadway, along with actor Rana Daggubati, Apurva Salarpuria of Salarpuria Group and Anuj Kejriwal of Anarock Retail. This new retail format is a multi-brand outlet, which will house D2C brands under one roof. The first store is set to open in Delhi in August this year, and subsequent store launches in Hyderabad and Mumbai are slated in September 2024 and March next year, the company said in its release.
Plumes of smoke could be seen billowing from the spot. A purported video of the aftermath of the explosion also surfaced on social media showing thick dense white smoke.
A day earlier, the properties of two people accused of rioting were demolished in Saharanpur where stone-pelting had taken place as well.
Terrorist Adil Wani's father and three brothers were arrested for sheltering him.
There is a limit to ignoring genuine aspirations of the people and suppressing their legitimate voice in running the affairs of the state, notes Mohammad Sayeed Malik, the distinguished commentator on Kashmir affairs.
Balance-level delinquencies in the credit card segment saw a 17 basis points (bps) year-on-year (Y-o-Y) rise in the quarter ending June 2024 (Q1FY25). In all other credit segments, including personal loans, delinquencies declined even as retail credit growth moderated, consequent to banks tightening the supply of credit to the unsecured segments, a report by TransUnion CIBIL said on Monday. Data shows that balance-level delinquencies, measured in terms of 90 days or more past due, in the credit card segment stood at 1.8 per cent in Q1FY25- highest among all other credit segments.
During 2023, the Indian real estate sector - both housing and commercial - witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going. Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity.
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