Suburbs from Vile Parle to Goregaon have 205 unsold units.
Of the top four companies, which collectively hold more than half of India's market share, two have pitted Shah Rukh Khan and Sunny Deol against each other.
Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'. Experts from banking and real estate sectors attributed this growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand. According to the data of the Reserve Bank of India (RBI) on sectoral deployment of bank credit for March 2024, the credit outstanding to the housing (including priority sector housing') stood at Rs 27,22,720 crore in March 2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022.
The index also highlighted price sensitivity among real estate buyers in Ahmedabad.
State Bank of India (Maharashtra and Goa), Bank of Baroda, IDBI and Allahabad Bank have cut rates in the range of 25-50 basis points. Lenders would like to see the RBI come up with some measures so that sentiments improve further.
Roshmila Bhattacharya shows us just why India has lost her Mr Bharat.
Private sector lender Bandhan Bank on Friday said its founder, managing director and CEO Chandra Shekhar Ghosh has tendered his resignation. Ghosh would retire from the services of the bank as MD and CEO upon completion of his current tenure on July 9, 2024, the bank said in a regulatory filing. "After leading the bank for almost a decade, including three consecutive tenures as MD & CEO, I feel that the time has now come for me to assume a larger strategic role at Bandhan group level," Ghosh said in a letter addressed to the board.
According to a report by New World Wealth, the bulk of London's second home buyers come from the rest of the UK and Europe and a substantial number also came from China, India, Russia and West Asia.
In Mumbai, developers like the R K Jatia and Lodha groups have launched or reopened ultra luxury residential projects, complete with limousine and concierge services.
With the rise of ultra-luxury housing in India comes ultra-customised marketing. Developers selling high-end homes, priced above Rs 20 crore, are moving away from traditional marketing for these homes to newer methods, such as painstaking profiling of customers before showing them the property, augmented reality for visualisation of interior decor, virtual tours, and closed-door international shows. There is also marketing through online ads, social media influencers, and exclusive memberships.
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.
One in four people surveyed by Knight Frank said they were more likely to move in the next 12 months as a result of the Covid-19 pandemic.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
Finance Minister P Chidambaram on Thursday announced a Rs 2,000 crore urban housing fund, while making luxury homes costlier by cutting abatement on service tax on a flat with a floor area of over 2,000 sq ft, or prices exceeding Rs 1 crore.
The government's move to tweak the long-term capital gains (LTCG) tax regime proposed in the Finance Bill 2024 and re-introduce the indexation benefit is likely to boost the investments and spur housing sales in the country, industry executives believe. "By enabling taxpayers to choose the lower tax burden between the new and old schemes, the amendment is poised to drive investment and enhance sales across housing segments," said Niranjan Hiranandani, chairman of the Hiranandani Group. In Budget 2024, Union Finance Minister Nirmala Sitharaman proposed an overhaul in the capital gains tax regime, including lowering the LTCG tax to 12.5 per cent from 20 per cent.
Here are some of the common mistakes that most home buyers make when it comes to home loans and how to avoid them.
With banks offering competitive interest rates, no processing fees, EMI waive offs, cash backs and an additional deduction of Rs 1 lakh on interest amount, home loan customers need to make merry
In 2024 alone, South India saw the highest rise in sales in the luxury segment, with Tamil Nadu reportedly registering a 19.3 per cent increase in premium car registrations from 2022-23
At the moment, the base rate of the bank stands at 10 per cent.
Is there a correction in home loan interest rates, or is it just an off-season blip?
Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting.
'Just this year alone, close to 40 major transactions involving Bollywood stars have been recorded.'
Bank will charge floating rates of interest from January.
With federal help for home buyers and owners, the housing market is on its way to recovery, reveals the latest survey by the National Association of Realtors.
The Reserve Bank has paved the path for increasing the liquidity for banks, enabling several positive steps in the real estate sector.
The real estate sector wants "high-impact" measures, like special schemes and tax breaks for developers, to revive the fortunes of the affordable housing segment in the country, multiple executives told Business Standard. This segment has been struggling since the Covid-19 outbreak, in contrast to larger and costlier homes which have been selling like hot cakes. The demand comes at a time when the government is taking suggestions from industry players before tabling the General Budget in the Parliament next month.
With HDFC also jumping on the dual-rate bandwagon, a home buyer has some good options.
Finance Minister Pranab Mukherjee on Friday extended by a year the one per cent interest subvention scheme for housing sector and provided Rs 700 crore (Rs 7 billion) for it in the budget for 2010-11.
ICICI Bank is offering the salaried having an account with it, credit from Rs 500,000 going up to Rs 1 crore against property owned by them
'Her story, her life, her aspirations and struggles...' 'Indian weddings are not just about fuschia, pink and dancing. They have many nuances.'
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
Housing sales declined 5 per cent in the July-September quarter across the top eight cities due to a fall in new supply and sharp appreciation in prices, according to PropTiger. Real estate brokerage platform PropTiger.com, which is part of Australia's REA group that owns Housing.com, on Tuesday, released its report 'Real Insight' on India's residential market. A total of 96,544 units were sold in July-September, down 5 per cent from 1,01,221 units sold during the same period in 2023.
While basic policies focus on structural damage, comprehensive ones extend to household contents like furniture, electronics, clothing, and other personal belongings.
Keep revising the sum insured at the time of renewal to keep it in line with inflation.
For home buyers wondering whether to opt for increased EMI or tenure, here are some clues.
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
A bench of Justices Arun Mishra and U U Lalit said, if home buyers are not ready to pay their outstanding amount, then the court will have to bundle up the projects.
Bengaluru-based developers, such as Puravankara Limited and Sowparnika Projects, have witnessed over 85-90 per cent of their customers being first time buyers or end users.
The national apartment vacancy rate dropped to 4.5 per cent in the last three months of 2012 from 4.7 per cent in the previous period, marking three straight years of vacancy declines, according to Reis data released on Tuesday.
Announcement of an increase in prices will dampen the affordable housing business at a time when realtors already face razor-thin margins.
