Housing sales are likely to be hit, especially in affordable and mid-income categories, following the RBI's decision to hike repo rate, according to real estate developers and consultants. However, the impact of RBI's decision to raise the benchmark lending rate by 50 basis points to 5.40 per cent is expected to be for a short term, they added. This is the third consecutive rate hike after a 40 basis points and 50 basis points increase in May and June, respectively.
The total demand has remained subdued mainly due to high interest rates and property prices.
'If they are taking marquee locations and, say, are paying 50 per cent higher rent, those locations will see a spurt in rates as well.'
The RBI has lowered interest rates by 1.25 per cent since January.
Modi's demonetisation move has hit the real estate market in Delhi and Mumbai
Falling sales since demonetisation has alarmed CEOs, who want to save cash till the economy recovers.
Indian prefer to buy expensive properties in Dubai.
'You may opt for a longer minimum guaranteed tenure of 12-18 months. This will ensure that in a rising rental scenario, the landlord doesn't serve you a notice and ask you to vacate the property.'
There is also scope for buyers to negotiate for discounts.
While Mumbai is home to India's costliest real estate, Thane is the fastest growing housing market in the country
Branded residencies, designer-stamped homes have a snob value and are sold at a high premium, to willing buyers
To overcome your fear of the property being taken over, draw an ironclad agreement with a good lawyer's help, recommends Sanjay Kumar Singh.
This sort of property is better suited for an investor rather than an end user.
'The inflection point that really happened in the sector was during the pandemic when buyers' perception changed towards consumption and that gave a trigger to pent-up demand with the increased affordability.'
Housing market in Mumbai Metropolitan Region recording worst half-yearly performance since global financial crisis in 2008 has worsened the situation for them
Banks are auctioning 2,362 properties in next 30 days. The foremost benefit of purchasing a property in a bank auction is that you could get it at a significant discount to the market rate.
Modi's party also wants to regulate property markets and tie investor money to specific projects to stop developers diverting cash elsewhere.
Government officials be under confusion.
Housing sales are estimated to rise 93 per cent year-on-year during April-June across seven major cities, but may fall 58 per cent compared to the previous quarter due to the adverse impact of the second wave of COVID-19, according to property consultant Anarock. Sales are likely to be around 24,570 units across seven major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune, Anarock said. Sales of residential properties stood at 12,740 units in April-June 2020 and 58,290 units in March quarter 2021.
Indebted developers are cutting staff as they slow work on existing projects and postpone new ones until they clear a backlog of 700,000 unsold homes
'Negotiate a longer agreement with the escalation clause fixed now.' 'This will enable you to control future cost increases.'
Holidays turn into horror, Bhansali brand of razzmatazz and tons more on OTT this week.
The S&P BSE Realty Index has emerged as one of the top-performing sectors, yielding a remarkable 45 per cent return over the past six months. The three leading players, listed by market capitalisation, have substantially enriched investor wealth by 43-70 per cent during this period. If the second quarter (Q2) of 2023-24 (FY24) updates from Macrotech Developers (Lodha) and Sobha, along with industry data for the quarter, serve as any indication, the trend of strong bookings for larger players is expected to continue.
Budget fails to cheer realty players.
Hailing clear majority for Narendra Modi-led BJP in the polls, real estate experts on Friday said a stable government at the Centre will help revive the property market.
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.
Currently, there's a shortfall of 23 million houses in India.
Durable goods companies and retailers say online sales won't compensate for the fall in offline sales.
Leasing activities of office and retail spaces would not be affected much.
Karan Choudhury reports on the implications of the strict Real Estate (Regulation and Development) Act and the prosecution of Unitech MDs, Sanjay Chandra and Ajay Chandra, in an alleged fraud case.
Chinese companies who were actively pursuing business opportunities in India have adopted a wait and watch approach following the Chinese government clampdown.
Unless you are very knowledgeable, seek expert advice before making such a high-ticket investment, cautions Sarbajeet K Sen.
Most buyers are forced to back off in the face of delays because of the appreciation of the property.
GST rates on under-construction houses maybe reduced from 12 pc with input tax credit to 5 pc without ITC. Similarly, the rate for under-construction affordable houses could come down to 3 per cent without input tax credit, from the current 8 per cent.
'Our family philosophy is to build a bridge between India and Britain.'
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As home deals are down to a trickle, most are looking at life beyond broking.
Launches and sales of house property have seen a continuous drop.
Discounts up to 15% expected this festive season; analysts expect October-December period to garner sales of at least 60K units across seven major cities.
In the quarter ended September 30, the Pirojsha Godrej-led firm recorded Rs 492 crore net sales, up 49% year-on-year
While student housing, retirement homes, and co-living spaces are going to be new realty growth drivers, Parekh also said foreign investors have also been investing in a big way in good commercial projects, while warehousing is another segment where they are showing keen interest.
