'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.'
'In real estate project insolvency, no one size can fit all.'
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.
Unless security is given paramount importance, it is difficult for real estate activity to pick momentum in J&K.
'Except facilitating builders in default, it is not doing anything else. Better to just abolish this institution.'
The Congress and other opposition parties had opposed the amendments.
It proposes to set up a regulator in every state.
The real estate Bill will stamp out illegal practices prevalent in the industry.
The need for a regulatory authority has been felt since a long time in the real estate sector, struggling for many years due to tough market and economic conditions.
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.
With the controversial Land Acquisition Bill pending for long, government on Tuesday made a strong pitch in the Lok Sabha for "some sort of understanding" on it, saying passage of the legislation is necessary to make land available for the programme of 'Housing-for-All' by 2020.
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.
Laws in several states are inconsistent with the model Bill passed by Parliament.
The bill would prohibit unaccounted money from being pumped into the sector and as now 70 per cent of the money has to be deposited in bank accounts through cheques.
Securities and Exchange Board of India (Sebi) Chairman Tuhin Kanta Pandey on Thursday called for sharper disclosures in IPO (initial public offering) offer documents, particularly around risk factors, valuation rationale, objects of the issue, and utilisation of proceeds.
No promoter is allowed to advertise, market, book, sell or offer for sale, or invite persons to purchase any plot, apartment or building, in a project without registering with the authority.
The Bill comes at a time when prospective home buyers are avoiding under-construction projects, almost everywhere in the country, thereby drying up sources of interest-free funds for debt-ridden developer firms
The Act envisages that the states and Centre will formulate specific rules for real estate regulation.
The new law would boost home buyer confidence as well as investment in the realty sector.
The COVID-19 pandemic affected the residential property market during the April-June period last year but sales have improved in affordable homes segment since July onwards, reflecting economic recovery in the real estate sector, according to the Economic Survey. The National Housing Bank's (NHB) Housing Price Indices (HPIs) are a broad measure of movement of residential property prices observed within a geographic boundary. The NHB-RESIDEX captures two housing price indices -- HPI@ Assessment Prices and HPI@ Market Prices - Under Construction Properties based on the data available for 50 cities with quarterly updation.
New law could pose challenges of cost escalation, increased paperwork, fear developers.
India's market regulator is moving ahead to include real estate investment trusts (Reits) in benchmark indices in a phased manner, Sebi chief Tuhin Kanta Pandey said, while asserting that the regulator was working to strengthen the link between infrastructure building and the markets.
Before booking a flat, buyers should confirm that the project is registered with the state's Rera portal.
The Bill will facilitate setting up real estate regulators.
Insurance intermediaries who receive disproportionately high commissions are likely to see a decline in their payouts, post the new Insurance Amendment Bill. The new Bill gives the Insurance Regulatory & Development Authority of India (Irdai) the power to disgorge unlawful gains made by insurers and intermediaries as well as the right to limit commissions paid to intermediaries.
Many buyers skip or misread critical provisions in builder-buyer agreements.
Land aggregators now want to sell to large corporations because their payment is guaranteed.
Developers are likely to start announcing their festive season offers soon, reports Sanjay Kumar Singh.
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.
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.
Registering the agreement for sale remains the most reliable way for a homebuyer to secure their legal and financial interests.
There is need for buyers to understand cancellation rules before entering into a purchase agreement with a developer.
'Every delay directly increases the cost burden on developers. Land holding charges, financing costs, and compliance expenses escalate as approvals drag on.'
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.
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.
'Buyers should be provided either a fixed possession date or a firm date for the start of construction.'
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'Always keep accurate and transparent records of the source of the investment or property's funding: Loan agreements, transfer records of the property, and bank statements of co-owners if available.'
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.
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