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Housing sales down 67% in Apr-Jun: Report

According to PropEquity, total housing sales during April-June 2020 stood at 21,294 units, down 67 per cent from 64,378 units in the year-ago period. Barring Noida, all other eight cities witnessed a decline in sales.

Home buyer interest in studio, serviced apartments rising in NCR

According to developers, a lot of buyers are ready to spend Rs 50 lakh to one crore for a studio apartment in and around Central Business Districts.

Office leasing slips 73% to 3.72 million sq ft in April-June: Report

Net absorption of commercial real estate across top 8 cities declined over 73% from a year ago and 49.5% on-quarter to 3.72 million sq ft during the quarter as fresh transaction activity remained muted, showed data from Cushman & Wakefield.

Realty on recovery path; homebuyers’ searches at pre-Covid levels: Magicbricks’ Q2 Propindex

The volume of active listing of properties on Magicbricks website, too, fell 42.5 per cent during April-June 2020 from the first quarter of this calendar year, it said in a report.

Nearly 50% of unsold residential inventory faces high execution risk

Nearly 50% of unsold residential inventory faces high execution risk

The supply side of the market was struggling even before the pandemic had set in. Taking a turn for the worse, COVID-19 and the nationwide lockdown

Realty hot spot series: Why Malad-Kandivali is a popular residential locality in Mumbai

Properties in Malad-Kandivali are priced between Rs 11,600 per sq ft and Rs 20,100 per sq ft. A 1-BHK (610 sq ft) costs an average of Rs 89 lakh and a 4-BHK (2,500 sq ft) costs approximately Rs 4.3 crore.

Property registrations in Delhi-NCR dip by 68%

More property sales were recorded in May, when some lockdown measures were eased, but the total number of registrations in Delhi-NCR stood at 85% below the level in the year-ago month. In Ghaziabad, registrations were down by 93%.

COVID-19 impact: Realtors look at new trends among home buyers

"What has happened is that the pandemic has opened up a lot of opportunities for developers and the people. Customers have understood the necessity of a home and for developers it has opened up, if not luxury, budget segment residences", Akshaya Homes Ltd founder T Chitty Babu told.

Karnataka RERA: Home buyers’ consent now a must to alter building plan

The government has issued a notification making buyers’ consent mandatory for changing the plan approved by the Karnataka Real Estate Regulatory Authority.

If home buyer opts out, builder must refund most amount: NCDRC

If home buyer opts out, builder must refund most amount: NCDRC

The National Consumer Disputes Redressal Commission said one-year delay in completion of a housing project is reasonable and a buyer cannot seek ref

Maharashtra Real Estate Tribunal says booking amount forfeiture unfair due to inequitable, one-sided pacts

Maharashtra Real Estate Tribunal rules in homebuyers’ favour to get booking amount refund.

Covid impact: Tenants want Kerala government to bring rent regulations

Many employees are reluctant to travel by public transport due to the fear of community spread of Covid-19 and hence are in search of a suitable accommodation.

Early trends show downward pressure on MMR property prices, says report

According to registration data available for 275 projects, around 70% have witnessed a decline in the last two months of May and June from average prices in 2019-20, showed a study by data analytics firm Propstack.

Realty hot spot series: This Hyderabad locality is perfect for IT workers

The locality is located in the north-western part of Hyderabad and has a presence of leading information technology companies. The area is well-connected by road and rail.

Around 63% MMR property deals in FY20 at 20% premium to reckoner rates: Report

Around 63% MMR property deals in FY20 at 20% premium to reckoner rates: Report

While ready reckoner premiums vary across the Mumbai region, the percentage of transactions above 20% was highest in Thane and peripheral markets be

UHNIs looking for second homes that are more open and with bigger spaces: Report

On their opinion of real estate as an asset class post Covid-19, UHNIs said that pricing will become more reasonable. According to developers offering super luxury flats, enquires in May increased as initial days of lockdown made owner feel the need of bigger home.

GST jolt for real estate developers: Paying tax on rent they never got

As per the GST framework, tax has to be paid at the time of raising invoice and not when the actual payment is made.

About 35 lakh houses handed over to beneficiaries under PMAY-U: Housing Minister

Puri said an estimated 3.65 crore jobs would be generated in the construction of all sanctioned houses under the mission and of these, about 1.65 crore jobs would have already been generated.

Housing sales drop 81% for April-June 2020, new launches by 98%: Report

Residential sales in the April-June plummeted by 81% on yearly basis in these cities from 68,600 units in Q2 2019. From April to date, MMR & Bengaluru account for 52% of the total sales.

Mumbai, suburbs record 2,100 property deals in a month after lockdown

Mumbai, suburbs record 2,100 property deals in a month after lockdown

According to stamp duty department officials, most of these deals are sale transactions and some are for conveyance and release deeds.

NCR developers are offering benefits up to 25% of property value to serious homebuyers

Property consultants say that some developers are even ready to sell limited inventory at no profit to generate cash flows.

Covid-19 impact: Around 4.66 lakh homes scheduled 2020 delivery may miss deadline: Report

Launched after 2013, many of these projects were in the final leg of completion. With almost zero construction activity in the last few months due to the lockdown, the completion deadlines for almost all these projects have been extended.

It’s raining offers for residential homes buyers in Bengaluru

Residential property developers have seen an increase in conversion of home sales for ready-to-move-in properties with footfalls up by 40% post lockdown.

Realty developers reviewing maintenance charges discount, waivers for tenants: Report

However, there are no visible trends in favour of rental deferment or discount until now across top seven Indian cities, said a JLL India report.

Realty hot spot series: A prominent neighbourhood in East Delhi

Realty hot spot series: A prominent neighbourhood in East Delhi

Mayur Vihar in East Delhi is home to well-known schools, close to hospitals and well-connected to Noida, Gurugram and the rest of Delhi. This promin

Housing sales down 75 pc due to COVID-19 pandemic: Property brokerage firm

Real estate developers and property brokerage firms are adopting digital mode for sales and marketing but prospective homebuyers are cautious due to uncertainties. The builders have not reduced the basic selling prices, but they are sweetening the deal for serious buyers through discounts and attractive payment plans.

Can’t waive rent, landlords need money too: Delhi HC

A bench of Chief Justice D N Patel and Justice Prateek Jalan noted that the court will be “extremely slow to interfere in contractual terms” between landlords and tenants, adding that waiver of rent cannot be granted by the court.

Residential sales likely to decline in 2020 with up to 10% price reduction, report

The resultant pressure on developers to sell may trigger a 5-10% price reduction across segments, said property consultant Cushman & Wakefield. These discounts could be in the form of minimal booking amount that is fully refundable with no cancellation or various subventions, financial and price protection offers.

Discount drives property sale during lockdown

“We came out with 'Lockdown offer' for our commercial as well as residential projects where we asked the buyer to pay Rs one lakh to book as against the full booking amount, the rest of the amount could be paid within the 100 days,” Manoj Gaur, MD, Gaurs Group.

No eviction on grounds of non-payment of rent if tenant poor: Delhi HC

No eviction on grounds of non-payment of rent if tenant poor: Delhi HC

On why it rejected the plea, the court said: "If such type of general argument is accepted by this court, that rent should be waived for all the ten

Lawyers redraw rent agreements with new ‘lockdown’ clause after 'disputes' over payment

The new agreements are being drafted for both residential and commercial properties as both -- property owners and tenants -- seek clarity in case of another lockdown disrupting life. The lockdown clause has gained importance as force majeure clause.

Home buyers likely to return to the market in six months: Report

According to ‘concerned yet positive – The Indian Real Estate Consumer (April – May 2020)’ report, real estate (35%) is still perceived as the preferred mode of investment, followed by gold (28%); fixed deposits (22%), stocks (16%).

RERA in NCR to continue with virtual hearings post Covid-19

Both Haryana and UP RERA, which cover the maximum number of ongoing real estate projects in NCR towns, have opted for virtual hearings post Covid-19, while Delhi is launching a trial run before taking a decision.

70% end-users do not plan to purchase a home within 12 months: Report

“Longer term projects are likely to remain under stress though. About one-fifth of end-users (21%) may return to the market in 6-12 months, as per the sentiment during May. End-users as well as investors are likely to show a higher preference for smart homes and integrated townships in the post-COVID world,” Savills India said in the report.

Covid-19 impact: MahaRERA to hear all cases through video conference

Covid-19 impact: MahaRERA to hear all cases through video conference

With this initiative, all services and operations of MahaRERA can be delivered digitally, without any need for physical visit by allottees, promoter

Govt’s stress fund for stuck realty projects sees surge in funding proposals

SBICAP Ventures receives over 100 new applications in one month after lowering return expectations

Average market prices of flats in major cities 6-75% higher than circle rates

The research data comes at a time when ministers and some corporates have suggested developers, especially those who have high bank debt, to reduce their prices and clear unsold units.

What work-from-home means for commercial real estate

Though demand for office space will come down, it is not expected to crash. Many employers will need to scale up the usable area for each employee. There could also be an uptick in demand for bigger, more flexible houses.

Home buyers are expecting prices to come down, but will real estate prices fall?

Residential prices had either remained flat or moved up very tardily in 2019.

Realty hot spot series: This Ahmedabad locality is a developed residential area

Realty hot spot series: This Ahmedabad locality is a developed residential area

Houses in this locality are priced between Rs 2,900 per sq foot (sq ft) and Rs 4,600 per sq ft. A 1-BHK (700 sq ft) costs an average of Rs 22 lakh a

NBCC to deliver 10,000 Amrapali flats by June 2021

The estimated cost of completion of all Amrapali projects is about Rs 8,500 crore, and NBCC, with the support of the apex court, has handed over two stalled projects. Execution work at eight more projects housing 12,169 units valued at Rs 618.08 crore, is ongoing.

With lowest interest rates ever, best time to buy a home

A recent study by Anarock states that residential real estate is the best investment option during this crisis largely due to lower risks attached.

New bungalows to make a stop at Delhi's Civil Lines

The Rail Land Development Authority (RLDA) will pick a private developer to build bungalows and pricey three-storey apartment blocks on a 5.38 hectare plot. Currently the area, on Boulevard Road, adjacent to Tis Hazari Metro station near Rajpur Road, is home to ten railway bungalows that will be demolished.

RERA to approach RBI for loan restructuring for real estate sector

Developers feel that the criteria of Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects or SWAMIH fund is difficult to meet, resulting in a last mile funding constraint.

Average housing prices up 38 per cent in last decade

Average housing prices up 38 per cent in last decade

According to data by property consultant Anarock, during the initial 5-year period between 2010 to Q1 2020, the average property prices increased by

Charging interest goes against intent, logic of loan EMI moratorium: CREDAI, Mumbai Grahak Panchayat

“We are primarily against the interest being charged on installments, which also includes interest. This will affect consumers adversely at a time when they are already facing financial difficulties,” said Shirish Deshpande, chairman of Mumbai Grahak Panchayat.

Home sales in IT hubs at a third of pre-lockdown levels

Sales were already weak when the lockdown was clamped, affecting walk-ins in April and causing postponement of purchasing discussions that were at advanced stages. Construction activity and new launches had come to a complete halt in March and April.

SC asks banks to disburse stalled loans to Amrapali Group homebuyers, restructure amounts

Earlier, RBI had informed the court that its instructions do not come in the way of releasing home buyers' loans whose accounts are Non-Performing Assets (NPA) and it was for the banks and other financial institutions to release the loan.

UP RERA imposes penalty on Noida-based developer, ordered refund of homebuyers money

The promoter has been informed that if the money is not returned to buyers and the amount of penalty is not submitted in RERA authority, the recovery certificates will be issued after December 2020.

With 'work from home' culture on rise, houses with large space to be in demand: HDFC MD

With 'work from home' culture on rise, houses with large space to be in demand: HDFC MD

The company plans to extend this to properties in the Mumbai Region next week, HDFC said in a statement. HDFC's online fair is an end-to-end technol

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