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Indian Real Estate News
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Choosing a good real estate agent who fits your luxury
Source: The Times of India Jul 23, 2014
There are several independent ways of getting a good buyer (or seller) but a good real estate agent is a professional whose expertise can add extra value to your search. ... more
Affordable housing to be cheaper, thanks to RBI
Source: The Times of India Jul 17, 2014
Sentiments across the real estate sector echoed in unison that implementation is the key for the excellent budget proposed by the Finance Minister this month. Just days after the budget day, RBI has taken the first step towards implementing one of the most pressing issues - affordable housing! ... more
Realtors hail RBI move to ease norms for affordable housing
Source: The Economic Times Jul 15, 2014
Realtors' body CREDAI today hailed the RBI's move to ease norms for banks to raise long term funds for financing affordable housing, saying this will lead to cheaper credit for such projects. In order to encourage infrastructure development and affordable housing, RBI today exempted long term bonds from mandatory regulatory norms like CRR and SLR if the money raised is used for funding of such projects. ... more
Budget 2014: Glass half full for real estate
Source: The Times of India Jul 13, 2014
As the much-awaited Union Budget 2014-15 got tabled in the parliament, the real estate sector was left in the lurch as some of its expectations were fulfilled, while some were left out. “Finance Minister Arun Jaitley’s maiden budget was a glass half empty and half full with hope. However, some expectations are left out,” says Lalit Kumar Jain, chairman, CREDAI while describing the budget. ... more
Industry reacts on Jaitley’s maiden budget
Source: The Times of India Jul 13, 2014
As Finance Minister Arun Jaitley tabled maiden budget in the parliament, the expectations of real estate industry soared high. Industry stakeholders welcomed the much anticipated Modi govt budget and desires for more “Acche Din”. Brotin Banerjee, MD & CEO, Tata Housing – “Tata Housing Development Company (THDC) welcomes the announcement of the Union Budget 2014-15. Focusing on fiscal prudence, this budget has introduced proposals that may help to kick-start investments in the real estate sector. ... more
Realty sector looking for better days
Source: The Times of India May 30, 2014
The Union minister for Housing and Urban Poverty Al leviation, M Venkaiah Naidu, promised that the top priority of his ministry would be to set up 100 new smart and safe cities in the country. Another priority is housing for all by 2020 for which Public Private Partnership (PPP) as well as Corporate Social Responsibility (CSR) will be encouraged. ... more
Salt Lake most preferred rental locality in Kolkata
Source: The Times of India May 30, 2014
Salt Lake, considered to be the bustling IT hub of Kolkata, has retained its top position for two consecutive quarters (Oct-Dec 2013 and Jan-Mar 2014) in the list of most preferred rental localities in the city, according to PropIndex, the quarterly research publication of Magicbricks. The locality also saw a 6 per cent rise in the rental values in the Jan-Mar 2014 quarter. ... more
CREDAI, NAREDCO’s wish list for Modi govt
Source: The Times of India May 26, 2014
With Narendra Modi swearing-in as the Prime Minister of India today, NAREDCO and CREDAI, the national level real estate key bodies representing all stakeholders shared their wish list. ... more
West Bengal government gears up Rs 600-crore projects
Source: The Economic Times May 21, 2014
With the election season over, the West Bengal government is back with proposals for projects worth Rs 600 crore in gems and jewellery and food parks.State's Finance Minister Amit Mitra said after a meeting of the Cabinet Committee on industrial reconstruction that 14 plots had already been sanctioned for the purpose offering employment opportunities for nearly 20,000 people. ... more
Real estate expects industry status in Modi’s rule
Source: The Times of India May 18, 2014
The real estate sector has been yearning for the industry status for long now. After facing disappointment time and again, the sector now expects this move from the new government, which in most probabilities is going to be the NDA-led government. ... more
Plan finances, bring down COST OF LOAN
Source: The Times of India Apr 11, 2014
Come the financial year end and its time to plan finances again. Tax-saving investments, insurance policies and major purchases planned in the forthcoming financial year have to be budgeted accordingly. In most cases, a house is the most significant investment the average Indian makes in a lifetime both in terms of value as an investment and asset for a lifetime. ... more
Buying a property? Pick one before elections are over
Source: The Economic Times Apr 10, 2014
Discounts and offers from real estate developers are common, but this Navaratra was extra special with builders going over the top-bigger discounts, a variety of flexi-payment plans and freebies to attract buyers. The reason? The property market is witnessing a glut. According to Cushman and Wakefield, there was a 12% drop in new launches in the top eight cities and yet the supply is more than demand. Prices have remained flat (even fallen in some specific pockets) for quite a few months, there is no demand and the inventory is piling up. Basically, the industry is facing a slowdown from the past few months. ... more
Sustainable real estate: Roadblocks to growth
Source: The Times of India Mar 18, 2014
The reasons for the relatively slow growth of India’s green real estate sector can be defined at different levels. At the policy level (Centre and State): The scale of policy-level incentives continues to be a constraint for manufacturers of green technologies, products and equipment as also for developers and consumers of green buildings. To be more precise, the incentives being offered are not consistent across all states, and in states where they exist, the implementation mechanism is not aligned to the expected throughput. ... more
HUDCO raises Rs. 279 cr from 3rd tranche of tax-free bonds
Source: The Hindu Business Line Mar 17, 2014
State-owned Housing and Urban Development Corporation (HUDCO) today said it has raised Rs. 279 crore through the third tranche of tax-free bonds. The Finance Ministry had allowed HUDCO to raise Rs. 5, 000 crore through bonds in the current financial year. HUDCO had raised Rs. 4, 714 crore from the first two tranches of tax-free bonds and private placements. ... more
Make the most of online property auctions
Source: The Hindu Business Line Mar 09, 2014
With the economy tottering, bad loans are piling up at many banks. This is forcing banks to put on the block assets pledged by defaulting borrowers. Therefore, in adversity lies an opportunity, even if it’s for someone else. ... more
Real estate may perk UP POST POLLS
Source: The Times of India Mar 07, 2014
Hit by slowing economic growth, rising borrowing costs, and high property prices, demand in the realty sector remained subdued in 2013particularly in the housing segment resulting in sales slowdown and pressure on asset pricing across leading cities. Experts say the current cautious market sentiment is likely to continue, as headwinds to growth will prevail at least until the first half of 2014. ... more
All India Mayor’s meet: Connecting with your city’s first citizen
Source: The Times of India Feb 21, 2014
Mayors are the lifeline of your city. Whatever your city is facing - good or bad the mayor is accountable for that. At Magicbricks, we have always made it a point to make the city authorities hear your voice, to know your feedback and concerns and at the same time update you with the latest from their side- whether it is policy or infrastructural developments. ... more
How to make your real estate investment earn for you
Source: The Times of India Feb 12, 2014
Exclusive or pure investors buy property for the exclusive purpose of earning a profit on them; they do not utilise the estate personally. The properties in question can be residential (flats, bungalows, row houses, duplexes, etc.), commercial properties (offices, factory sheds, etc.), retail (e.g. mall space) and non-developed or partially developed land. ... more
Gift deed: How to transfer your property
Source: The Times of India Feb 09, 2014
Transfer of property often turns out to be a cumbersome process. More often than not, transfer of properties involves relatives. In such cases it is a gift deed that comes in handy and not a sales deed. So, what is a gift deed? “Gift is the transfer of property from one person to another without consideration. Once gift deed is properly executed and registered it conveys all legal rights and ownership to the donee, i.e. to whom the gift is made and he or she becomes the absolute owner of the same. No one can claim ownership upon the same after execution and registration of the gift deed,” explains Asha Basu, partner, S Jalan & Company. ... more
Housing sector seeks to tap long-term funds
Source: The Financial Express Feb 09, 2014
The finance ministry is considering a proposal to channelise pension, insurance and provident funds into the housing sector. Allowing long-term funds from such funding institutions is aimed at helping housing finance companies (HFCs) overcome the asset liability mis-matches. ... more
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