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Credai asks Karnataka govt for package to revive realty

The industry body also asked the state government to reduce stamp duty substantially up to September 2020, to exhaust unsold inventory and bring down the same to 1% for affordable homes.

Realty hot spot series: Proximity to IT hubs, malls is the main draw of this Bengaluru locality

This locality has emerged as a significant information technology (IT) hub. The nearby IT centres are Manyata Tech Park, Kirloskar Tech Park, etc. The locality is 25 km away from the airport and 2 km from the nearest railway station.

NBCC, Suraksha Realty submit revised bid for Jaypee Infratech

Both NBCC and realty developers Suraksha Realty have submitted revised bids for Jaypee. While Suraksha Realty has upped its offer to Rs 7,900 crore to lenders and possession in 3 years to over 22,000 homebuyers, NBCC has offered lenders 1,426-acre land worth around Rs 5,000 crore and 50% of around 3,000 apartments that have no claimants.

‘Unregistered association can’t make RERA complaint’

In the absence of registration of the association, residents or allottees of the houses can file complaints in individual capacity or through power of attorney, says an important new order by the Gujarat Real Estate Appellate Tribunal.

South Delhi Municipal Corporation budget: Property tax hike on cards

South Delhi Municipal Corporation budget: Property tax hike on cards

People living in colonies in C, D and E categories may end up paying more property tax if the budget proposed by SDMC commissioner is implemented. T

SC receiver asks NBCC to start 8 Amrapali projects

The Supreme Court-appointed receiver has given a list of eight projects having 9,306 flats to NBCC India in order to proceed with the tenders of Amrapali Group. The cost of the current package, including towards project management consultancy and GST, is about Rs 570 crore. The projects are Zodiac, Sapphire One and Two, Centurian Park amongst others.

4 real estate companies from three cities requests to avail bailout fund: Nirmala Sitharaman

Earlier this month, the government approved a Rs 25,000 crore fund to help complete over 1,600 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings in a bid to boost growth by steering consumption in real estate and associated sectors.

Lotus home buyers: No transparency, remove insolvency professionals

Though the NCLT will take a final call on the matter on November 25, the removal of the interim resolution professional (IRP) and the authorised representative (AR) could further delay the completion of the two unfinished ‘Lotus’ brand projects.

NCDRC orders Emaar MGF Land to refund home buyer's money with 10.3% interest

The home buyer had booked an apartment in 2012 in the company's Palm Gardens project in Gurugram, the possession which was to be given in 36 months with a three-month grace period. Buyer claims that possession has not been offered till date.

Home buyers entitled to full refund if flat not given on time: Court

Home buyers entitled to full refund if flat not given on time: Court

The judgement of the state consumer commission has come in the case of Nitika Verma and Nitin Verma against ATS Estates Private Limited. The commiss

Bengaluru to take 15 months to clear unsold housing stock, Delhi-NCR needs 44 months: Anarock

Unsold inventory overhang indicates the number of months it will take for the current unsold housing stock to get cleared in the current market scenario. At any given point, an inventory overhang of 18-24 months is considered quite healthy.

Housing sales of 9 listed players up 11% in Q1 to Rs 5,300cr; momentum to continue in FY20: Anarock

In 2016-17, the new launches by these nine listed players in top seven cities comprised 5 per cent share of the overall launches, this share increased to 10 per cent as on 2018-19 and will increase steadily.

Construction ban may delay Delhi-NCR projects

Environment Pollution (Prevention and Control) Authority, or EPCA, had last Tuesday imposed construction ban till Monday when further decision will be taken depending on the situation. Even if the ban is lifted soon, reorganising labour will be a difficult task and several projects in the NCR will have to push their deadline further, developers said.

Realty hot spot series: This Kolkata locality is an upcoming residential hub

Good connectivity, proximity to offices make this area in Kolkata attractive to buyers. The locality has many renowned schools, hospitals, shopping malls and other recreational places. The nearest railway station is 16 km away.

DLF April-September sales bookings up 16% at Rs 1,425 crore on demand for completed units

DLF April-September sales bookings up 16% at Rs 1,425 crore on demand for completed units

Maintaining its sales momentum in the third quarter, DLF last month said it sold 376 ready-to-move-in luxury flats worth Rs 700 crore on the first d

Amrapali, Unitech & Jaypee Infratech homebuyers left out from FM's Rs 25,000 crore booster

More than 75,000 homebuyers of Amrapali, Jaypee and Unitech are unlikely to be eligible.

Homebuyers’ lobby seeks RERA listing relaxation for stress fund support

According to the homebuyers lobby, the condition that a stalled project can only access the fund if it's RERA registered has an inherent handicap as many states have just established the real estate regulator and some don't have it. For instance, Kerala and Himachal Pradesh, which have just formed it, do not have many projects registered with it.

Central relief out of reach for Noida realty projects

Builders collectively owe Rs 28,000 crore to Noida, GNIDA and YEIDA, which is higher than the entire central corpus of Rs 25,000 crore. Of these, Noida has the most housing projects and the highest number of defaulters. Realtors usually have to pay the land cost to the authorities in 16 instalments over eight years at 11% interest rate.

Three years of demonetisation: Cash is king in 66% of real estate transactions

A majority of Indians continue to make a substantial percentage of their total annual purchases in cash, the survey said. About 40% people said anywhere between 5% to 25% of their total purchases were in cash, 29% said anywhere between 25% to 50% of their purchases were in cash and 27% said at they paid cash while purchasing almost every item in last year.

2 lakh incomplete units in NCR may benefit from Rs 25,000 crore realty fund

2 lakh incomplete units in NCR may benefit from Rs 25,000 crore realty fund

Government’s Rs 25,000 crore stress fund will benefit at least 2 lakh units in Delhi and its satellite cities, real estate developers in the Nationa

The revival plan: Funding for single housing project capped at Rs 400 crore

The government clarified the “positive net worth” condition for projects to be eligible for support from the alternate investment debt fund in a list of frequently asked questions (FAQs) that it issued on Thursday. The fund won’t provide assistance to projects that are in the Supreme Court and high courts but will take up those being heard by the NCLT.

Mumbai likely to get biggest pie of Rs 25,000 crore realty bailout package

Experts believe MMR will get the maximum resolution through govt’s Rs 25k-cr stress fund.

Home buyers can approach banks for loan revival; Rs 25,000-cr fund not for projects in higher courts: Govt

The FAQs said funding will be provided to the RERA-registered affordable and middle-income housing projects that are stalled for lack of adequate funds, but their net worth should be positive (including NPAs and projects undergoing NCLT proceedings).

Nirmala Sitharaman's real estate fund: Everything a home buyer should know

According to FinMin's FAQs, the focus of the Special Window is on mid and affordable segment. "However, alleviating the stress for developers in this segment may have indirect benefits for the entire real estate sector including luxury segment."

Govt's Rs 25,000 crore realty fund can only help 6% of stalled constructions

Govt's Rs 25,000 crore realty fund can only help 6% of stalled constructions

Govt’s Rs 25k cr realty fund to salvage stalled housing projects will only help 6% of stalled constructions.

Unsold flats worth Rs 1.4L crore hold the key

Estimates by the finance ministry showed that constructing the entire stock of houses in 1,600 projects, many of which are in standstill state, will require over Rs 50,000 crore and this number could go up. Not all of them will be commercially viable.

ET Explains: A lowdown on government's Rs 25,000 crore realty booster shot

Govt announced the creation of an AIF with a targeted corpus of Rs 25k-cr to complete stalled housing projects.

Kotak’s realty fund eyes distressed projects

After generating up to 23% returns on previous bets, the fund is looking to invest in 4-5 stuck projects that can be revived and completed soon.

Homebuyers, developers cheer stress fund cabinet nod; reiterate timeline, execution crucial

“The fund will help nearly 1,600 stalled housing projects in the country, and it is positive that the aspect of NCLT/NPA will not be a stumbling block to prevent stalled and delayed projects from approaching the fund,” said Niranjan Hiranandani, the national president of Naredco, a developers’ body. “But the devil in the detail in this case will be quick implementation.”

Complete corporate insolvency resolution process of Jaypee Infra Ltd within 90 days: Supreme Court

Complete corporate insolvency resolution process of Jaypee Infra Ltd within 90 days: Supreme Court

The apex court directed completion of the corporate insolvency resolution process for Jaypee Infratech Ltd (JIL) within 90 days. The court further a

Delhi-NCR realtors enter into joint ventures to tide over cash crunch

A JV or development management agreement puts a large developer in the driver’s seat as the new entrant gains control of the new entity. Additionally, the established developer’s track record and ability to maintain cash flows help bolster project execution and marketing.

Sitharaman says govt working with RBI to revive real estate sector

Nirmala Sitharaman pointed out that India needs a vibrant stock market.

Now, FM Nirmala Sitharaman hints at booster dose for real estate sector

The government and Reserve Bank are working to resolve the issues being faced by realty sector. Admitting that realty sector has been left out of the booster measures announced earlier, she said the sector has a spillover effect on many sectors, especially the core sector.

OTP-based property registrations soon in Karnataka

The Department of Stamps and Registration is geared up to roll out the new system based on one time password (OTP) across Karnataka in about two weeks.

Top listed realtors’ residential sales jump two-fold since demo

Top listed realtors’ residential sales jump two-fold since demo

These companies have together sold around 44 million sq ft of residential space in 2018-19 against around 17 million sq ft in 2016-17— the demonetis

Government to come up with e-commerce platform for real estate sector

“The platform, which will be launched by January, will have a list of project that have received the Occupancy Certificate. The purchase will be online and sale will happen via NAREDCO,” said Parveen Jain, Vice Chairman, NAREDCO.

Unsold housing inventory reduces by 27% in Noida, Greater Noida, Ghaziabad: Report

The collective unsold stock in these cities of UP had declined by 26% - from 1,31,150 units in Q3 2017 to approx. 97,270 units by Q3 2019 end.

Housing sales drop 9.5% in July-Sep across 9 cities: Report

Sales stood at 52,855 units during July-September 2019, down 9.5% from 58,461 units in the year-ago period. "Demand has been definitely impacted in the last quarter with buyers delaying their decisions," Samir Jasuja, founder and MD, PropEquity said.

Rera authorities may seek powers to attach projects of errant builders

Real estate regulators from across states have gathered in Lucknow and sources said they would push for amendments in the Real Estate Regulation and Development Act (Rera) to give them more teeth, particularly to execute orders passed by them.

Realty hot spot series: Proximity to IT companies is the main draw of this Hyderabad locality

Realty hot spot series: Proximity to IT companies is the main draw of this Hyderabad locality

Its proximity to offices of leading IT companies is the main draw of this Hyderabad locality. The locality has key educational institutions includin

Times may have changed but the 3 basic rules remain the same if you are buying a house

No matter how distressed developers are, and no matter how reasonably priced apartments look in 2019 compared to 2008 or 2013, the three basic rules of buying a house are still relevant now. As long as savers keep this in mind, they’ll be fine.

Consumer complaints should go to RERA before NCLT, say builders

About 450 real estate companies/projects across the country are facing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) because of default in the delivery of projects to homebuyers as well as repayment of bank loans.

MRG World to invest Rs 200 crore on second affordable housing project in Gurugram

MRG World has announced its second affordable housing project 'The Meridian' in Gurugram, Haryana.

Realtors see 15-25% rise in sales during Diwali

India’s real estate developers have changed their approach amid changing market dynamics.

North India states have more brokers per project

North India states have more brokers per project

Delhi has 189 agents for 21 projects while Haryana has 1,673 agents for 718 projects. The actual number of agents are much more as the registration

Residential property sales on the rise

Despite slowdown and subdued consumer sentiment there’s been uptick in sales volume since 2017.

Unitech loses property in Noida over Rs 1,203 crore dues

The property concerned is located in Sector 113 where the real estate group had also come up with 17 towers without getting the map cleared by the authority, in violation of the Noida Building Regulation, 2010, Noida Authority said.

In a first, Haryana RERA asked residents to pool in money to finish project

There are 16 residential tower in the society and the builder had given possession of 14 towers. The remaining two towers left uncompleted and the buyer had moved RERA as the builder could not give possession. The buyers found that directors are in Jail.

MahaRERA move draws ire of homebuyers’ lobby

MahaRERA has decided to register realty developers and project promoters as self-regulatory organisations with the authority, and granted its first certification to the National Real Estate Development Council.

Homebuyers in HDIL’s Nahur Project file plea in NCLAT

Homebuyers in HDIL’s Nahur Project file plea in NCLAT

“We are pleading to get us added in the matter as a respondent and seeking a hearing to resolve our dispute by accepting our claims,” said Omkar Kha

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