'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.'
Projects in Delhi-NCR, delayed by a much as 6-7 years
The maximum inventories are in 1 and 2 BHK configurations totaling 587,500 units.
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
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.
'Prices are rock, bottom, developers are ready to negotiate and banks are keen to lend.'
Realty Bill seeks its forfeiture in case of project delay.
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.
Promoters must mandatorily deposit 70% of unused fund collected for project in separate bank account
The inventory has risen to 83 months in the National Capital Region and 50 months in Mumbai.
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
Government has introduced the Real Estate Bill, 2013 in Rajya Sabha.
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.
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.
A Pakistani court has issued a notice to the country's electronic media watchdog in response to a writ petition, which seeks a ban on two anchors who were filmed coaching real estate tycoon Malik Riaz Hussain, during an interview. The Lahore high court issued the notice to the chairman of the Pakistan Electronic Media Regulatory Authority in response to the petition filed by Malik Ghulam Mustafa.
Those looking to take advantage of current market conditions should buy only after conducting due-diligence.
The Central Bureau of Investigation will file this week its first chargesheet into the 2G spectrum scam against former telecom minister A Raja and some of his close aides besides a couple of real estate companies for allegedly defrauding the exchequer and entering into a criminal conspiracy in securing the telecom licenses.
BJP has demanded a regulator for real estate sector to safeguard common man, in the upcoming Budget.
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
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.'
However, the report pointed out that the implementation of the grievance redressal process still has many gaps as "only 22 per cent of the consumers involved in a grievance redressal process were satisfied due to the uncertain timelines involved". The Real Estate (Regulation and Development) Act, 2016, was passed by Parliament in March 2016.
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.
The ease with which city-level master plans are altered and land-use patterns changed without considering carrying capacities or the overall environmental footprint of urbanisation in different states has already created water and air pollution crises in several emerging and existing cities.
All real estate developers may not be able to avail the benefit of Reserve Bank of India's one-time restructuring scheme as they might not meet the required financial ratios and have the necessary credit rating, HDFC vice chairman and CEO Keki Mistry said. He was speaking at a real estate and infrastructure investor summit organised by Naredco. "Restructuring may not necessarily help every developer because not too many will be able to meet the criteria laid down in terms of meeting the various ratios and getting credit ratings," Mistry said.
The bench, headed by Justice Patil, however, allowed a significant leeway for the developers in the judgment by permitting the state-level RERA Authority and the Appellate Tribunal to consider delays on a case-to-case basis, and not to cancel such projects or developers' registration in cases where the delay was caused due to "exceptional and compelling circumstances."
'The real estate sector has been badly bruised because it has become too reliant on funding from NBFCs, including housing finance companies. 'When the NBFC industry was rocked late last year by a large default, the real estate sector was hit hard. 'An intricate web of links between rural incomes, construction activity and shadow banks are fuelling the economic slowdown', says Pranjul Bhandari.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
The trust deficit has widened with buyers losing confidence in a developer's ability to construct and deliver a project on time.
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.
Experts said the builders will now factor in their losses arising from the removal of input tax credit when they pass on the benefits to end users while the latter may want the entire GST cut to be given to them.
Some developers point out that what comes in the way of low-cost housing is the sky-high price of land
A fourth of the property market is cash-based and this has affected home sales after high value notes were scrapped.
High networth individuals selling stocks to buy real estate is among the key risks for the Indian markets.
Home buyers would be able to invoke Section 7 of the IBC against errant developers.
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.
Financials were among the top losers along with Sun Pharma and index heavyweight Reliance Industries
Insurance Regulatory and Development Authority (IRDA) on Thursday said ten new players have applied for licences to enter into this fast growing sector.The Shriram group, Ranbaxy-promoted Religare Securities and real estate major DLF, have sought regulatory approval for entering the insurance sector, Muralidharan said.
The Securities and Exchange Board of India (Sebi) may allow non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) greater exposure to domestic equities if their investments are sent through foreign portfolio investors (FPIs) registered at the GIFT City International Financial Services Centre (IFSC). The proposal will be taken during Sebi's board meeting on Saturday along with other key agenda items such as easing of voluntary delisting mechanism and introduction of a regulatory framework for real estate fractional ownership platforms, said people in the know. At present, the combined holdings of NRIs and OCIs in a global fund have to be less than 50 per cent, while that of a single NRI or OCI is capped at 25 per cent.
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.
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