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.
Realtors' body CREDAI on Monday said the cost of construction has gone up by 20-25 per cent, mainly during the last 45 days, due to steep rise in prices of raw materials like steel, and builders will be forced to increase property prices from next month by an average 10-15 per cent. CREDAI-MCHI, the Maharashtra chapter of CREDAI, demanded that the central as well as state governments consider giving relief to the industry by reducing stamp duty and GST rates, besides allowing input tax credit (ITC) to developers. The association said it would not advise member developers to stop construction works as of now, but if the price rise continues then builders would have no option but to halt works at project sites and defer purchase of raw materials.
Here's how to avoid getting more than you asked for this holiday season.
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.
Former England cricketer Reg Simpson, who is the oldest surviving player to have played in a Test match for the country, has reportedly passed away at the age of 93.
England coach Andy Flower and captain Alastair Cook appear likely to retain their jobs despite the disastrous Ashes tour of Australia but batting coach Graham Gooch believes some sort of rebuilding process is inevitable.
Cambridge, Massachusetts, has been in a lockdown after a series of events that followed when suspects in the Boston marathon bombing shot Sean Collier, a young Massachusetts Institute of Technology police officer (badge 179 but yet unnamed) in his cruiser. Rediff team reports.
Experts say this is a good time to buy a house for self-use, points out Sanjay Kumar Singh.
The Indian-American stand-up comic was the entertainer at the 2017 WHCA Dinner when he was a senior correspondent on The Daily Show. His one-hour Netflix comedy special Hasan Minhaj: Homecoming King was released in 2017, for which he won his first Peabody Award in 2018.
The two Chechen brothers accused of the Boston Marathon bombings are "twisted, perverted, cowardly knock-off jihadis" who failed to instill fear in the American people, United States Vice President Joe Biden has said.
South Africa Test captain Graeme Smith has strongly denied recent suggestions that he or his team deliberately provoked England batsman Kevin Pietersen into sending 'provocative' text messages to the Proteas players during the recent Test series between the sides.
Cricket South Africa (CSA) have dismissed claims their players instigated the text-message row that led to batsman Kevin Pietersen being dropped by England. England and Wales Cricket Board (ECB) chief executive David Collier told BBC radio on Sunday that Pietersen's texts to South African players during the recent Test series were in response to messages from the opposition.
Last week, England and Wales Cricket Board CEO David Collier pushed for the Indian Premier League to be held in March-April so that English players could play a bigger role in the IPL. This proposal raises question marks about the attempt to reduce the importance of the ICC or its events, notes Faisal Shariff.
High interest rates and prices mean low affordability. Also, developers have huge inventories.
Taking another step forward in finalising a new Future Tours Programme (FTP) for the 2012-2020 period, ICC's Chief Executive Committee has begun the process of drawing up rules and regulations for the Test and ODI leagues.
Brick Mansions never slows down enough to let you enjoy the brilliance of David Belle's liquid movements and never speeds up the story to keep you from yawning, writes Paloma Sharma.
The England and Wales Cricket Board has threatened to take legal action against Pakistan Cricket Board chairman Ijaz Butt unless he apologises for accusing England of losing a game.
Around 25 per cent of residential units in Dubai are lying empty as the impact of the global downturn continues to hit the UAE's property sector.
We invited readers to send in their interesting monsoon snapshots. Here are some more responses -- and you can share yours too!
The student, who was also a cabbie, was attacked and left to bleed on a Brunswick West street, police said. The victim parked his taxi outside his girlfriend's home on Collier Crescent in the wee hours today and rang her to bring his dinner outside when someone approached his vehicle, The Age reported.
According to Colliers International's annual parking rate survey, average cost of parking a car in Sydney's CBD is Australian $733 a month, making it the fifth most expensive city in the world, AAP reported on Tuesday. The only more expensive city in the Asia Pacific for parking is Hong Kong, where the average price is $748 (Australian $939).
The England and Wales Cricket Board (ECB) raised the prospect of a lucrative Twenty20 series against a West Indies team on Tuesday after confirming they had held further talks with Texas billionaire Allen Stanford.
Cleartrip acquired Saudi travel firm Flyin last July and it provides bilingual ground support service and itineraries for inbound tourists.
The Board of Control for Cricket in India has rejected England's invitation to play in their version of the Champions League, to be held in Sharjah in October, giving a new twist to the wrangling between the two boards over the Twenty20 event.
Former opener Geoffrey Boycott feels English cricket has become a laughing stock, thanks to the "appalling" way in which the ECB forced Kevin Pietersen to step down from captaincy.
The University of Abertay Dundee, United Kingdom, invites applications for its wide range of post-graduate and undergraduate courses.
A US federal court in Gatlin's hometown of Pensacola, Florida, held a one-day hearing on a request for a preliminary injunction that would allow the 26-year-old Gatlin to take part in the trials in Eugene, Oregon. Gatlin, who attended the hearing dressed in a brown suit and was accompanied by family members, was suspended for four years after testing positive in 2006 for the male sex hormone testosterone.
India may play five-Test series in England in 2011 and 2015 -- for the first time in more than 50 years -- if the England and Wales Cricket Board (ECB) and the BCCI agree on a deal.
Texas billionaire Allen Stanford has offered to put up $100 million (50 million pounds) for England to play five Twenty20 games against his West Indies All-Star team. England and Wales Cricket Board chairman Giles Clarke had said the prospect of England taking part in a winner-takes-all $20m match in West Indies is "very likely".
Both will play next month's three-match one-day series under new ICC rules introducing substitutions and new fielding regulations.
The developers have already started feeling the pinch.
England could play a World XI if Pakistan pull out of the Twenty20 game in the ongoing dispute over the actions of captain Inzamam-ul-Haq.
If you have been planning to buy a house, don't postpone your purchase. Developers are offering discounts, freebies and attractive payment plans.
Developers are likely to start announcing their festive season offers soon, reports Sanjay Kumar Singh.
Though the airline has kept a reserve price of Rs 315 crore for these properties, it hopes to make around Rs 500 crore from the sale.
The England and Wales Cricket Board (ECB) has charged former Sussex players Lou Vincent and Naveed Arif under its Anti-Corruption code, the ruling body said on Thursday. Former New Zealand batsman Vincent has been charged with 14 offences relating to two Sussex matches in August 2011 - a Twenty20 game against Lancashire and a 40-over clash with Kent.
While sale of residential properties increased only marginally despite plethora of steps taken by the government through the year, office space leasing rose 40 per cent to touch an all-time high of 46.5 million sq ft -- a trend that drew investors to lap up India's first Real Estate Investment Trust at an issue size of nearly Rs 5,000 crore.
Mannapuram Finance, Mahindra and Bharti Axa are some of the firms known to have bought office spaces worth more than Rs 100 crore
'The government has just scratched the tip of the surface with the recent announcement. They are not realising the gravity of the situation.'
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