Latest News
04-May-2012 12:30 pm
Real estate Bill delayed again
The much-awaited regulatory Bill for the real estate sector is still a long way off. The draft Real Estate Regulation Bill will not be tabled during the current session of Parliament, a senior official in the Ministry of Housing and Urban Poverty Alleviation has confirmed.The Bill has been in the making for several years now, and was slated to be introduced during the Budget session. The housing ministry is now targeting the monsoon session of Parliament. The official said the final draft was ready.
03-May-2012 4:04 pm
Delhi sells its homes faster than Mumbai
Mumbai: Mumbai may be second to Delhi in unsold homes, but it will take longer to sell them. Real estate developers in the financial capital must wait over three years to clear 1.13 lakh units or 120 million sq ft as high prices deter potential buyers, shows a study released by Liases Foras, a real estate rating and research consultant.
02-May-2012 2:21 pm
India And Sustainable Real Estate – Miles To Go But Getting There
The real sector has emerged as one India’s largest drivers of economic growth. As a sector, it provides large scale employment and contributes significantly to the GDP. For decades, environmentalists have been warning that frenetic human economic activity associated with the breakneck speed of economic growth is placing a huge strain on the earth and its natural resources.
02-May-2012 2:13 pm
Luxury space: In demand despite the odds
Recently, a top executive of an IT company bought a 2,950 sq. ft four-bedroom flat in Mumbai for an astonishing Rs. 29 crore. Why did he pay so much? The location. The flat is part of an exclusive complex of 175 apartments and 10 bungalows at Cuffe Parade, each apartment and bungalow enjoying a spectacular view of the sea. For that very reason and the exclusive services that come with the deal, the apartment was sold at a rate of Rs. 1.11 lakh per sq. ft.
02-May-2012 2:11 pm
The luxury real estate market in India
LUXURY LIVING SPACE WILL SEE MORE TRACTION IN THE FUTUREDLF’s Rajeev Talwar says that despite the fact that past couple of years have been challenging for the real estate sector in general, demand for high-end luxury living space has actually increased.
02-May-2012 2:05 pm
Dream of affordable homes gathers dust in Maharashtra
Mumbai: An ambitious plan to construct 500,000 affordable homes in Mumbai, Thane and Raigad districts of Maharashtra is gathering dust due to "inaction and policy paralysis" on the part of the state government, a top realtors' body alleged here Wednesday.
24-Apr-2012 3:44 pm
Realtors add designer touch to luxury living
BANGALORE: Designers are lending their names to residential projects by adding bespoke features. Like fashion brands, individual designers are endorsing projects that reflect the progressive lifestyle of a discerning few who are willing to shell out a premium for all things superior.
24-Apr-2012 3:41 pm
Mumbai Home Sales Recover From 3-Year Low on New Projects
Mumbai’s residential home sales recovered from a three-year low in the quarter ended March as new projects boosted demand, according to Liases Foras Real Estate Rating & Research Pvt.Sales in Mumbai, India’s most expensive property market, rose 20 percent from the previous quarter to 9.13 million square feet, said Pankaj Kapoor, founder of Liases Foras, a Mumbai-based real estate research company.“Sales in new projects has resulted in this spike in the Mumbai market,” Kapoor said in a phone interview from Mumbai today. “Still, the Mumbai market has moved into hibernation as record unsold units and prices are resulting in dismal sales.”
24-Apr-2012 11:58 am
RBI's big rate cut won't spur housing market
Prospective home buyers in India are unlikely to even blink, let alone give a thought, to hinging their purchase decision on the 50 basis points (bps) rate cut announced by the Reserve Bank of India on Thursday.The cut translates to a 3.2% decrease in a homebuyer's equated monthly installment (EMI), which isn't motivation enough to turn people from squirrels to squanderers. Besides, the rate easing comes after a 375 bps increase between March, 2010 and October, 2011
24-Apr-2012 11:56 am
Govt to ensure there is no abuse of affordable housing ECB
The finance ministry is building safeguards to ensure realty companies do not misuse the external commercial borrowing (ECB) window announced in the Budget by diverting the money.A senior official told Business Standard modalities were being worked out for implementation of the Budget announcements. These were likely to specify the projects and also the developers who would be allowed to utilise the ECB facility. The finance ministry has cleared the way for implementation of the ECB announcements for power, roads and airlines. For affordable housing, the go-ahead is expected in two weeks.
