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10,000 takers for Prime Minister's Awas Yojana in Agra, but admin has no land yet
Source: The Economic Times Sep 20, 2016
The central government in collaboration with the state government is working on the 'Pradhan Mantri Awas Yojana - Housing For All' scheme in the city. Around 10,000 people have already applied for affordable housing under it. However, the authorities have no idea where and on what area of land these houses are to be developed. The District Urban Development Agency (DUDA) which is responsible for implementation of the scheme here has no available plot for it. ... more
Tirupati vies to be on smart city list
Source: The Times of India Aug 25, 2016
Anticipating that Tirupati might find a place in the forthcoming list of 'smart cities', the Tirupati Municipal Corporation is mulling to take the support of France and US for its development. ... more
Waiting for the Godot
Source: Financial Chronicle Aug 05, 2016
GST will deeply impact the real estate sector, which is subject to a plethora of taxes levied by the central and state governments ... more
Housing finance companies need Rs 28,600 cr more to achieve 22% CAGR
Source: The Financial Express Aug 03, 2016
Housing finance companies (HFCs) will need additional capital of Rs 18,600-28,600 crore – roughly 30-50% of their current net worth – to be able to achieve a compounded annual growth rate (CAGR) of 20-22% for the next three years, rating agency Icra said in a report on Tuesday. ... more
Timely delivery of projects very important: Draft rules
Source: The Times of India Aug 03, 2016
Timely completion of the project and timely delivery of the apartment or plot to the allottee by the promoter is the essence of the Agreement to be signed between the promoter and allottee under the Real Estate (Development & Regulation) Act, 2016. ... more
860 projects approved involving construction of 7.28 lakh units
Source: The Economic Times Jul 22, 2016
Nearly 19,300 house were constructed under Pradhan Mantri Awas Yojana (PMAY)-Urban even as government has approved about 860 projects, involving construction of 7.28 lakh units. ... more
2.17 lakh houses made under JNNURM, Rajiv Awas Yojna vacant
Source: The Economic Times Jul 22, 2016
Over two lakh houses, constructed under Jawaharlal Nehru National Urban Renewal Mission (JNNURM) and Rajiv Awas Yojana (RAY), have been lying vacant across the country, the government told the Rajya Sabha today. ... more
Now, clearance from district administration compulsory for major housing projects
Source: The Times of India Jul 20, 2016
From now developers undertaking major housing projects in the state need to take clearance from the district administration stating the nature of land and the exact details of the project along with an outlying plan of the nature of construction. A developer will need to submit all these papers to the state environment department for clearance. A separate Urban Land Ceiling certificate will have to be submitted by the developer in case the total covered area of the housing project is 2 lakh square feet or more. In case of ULC, the state land revenue department gives such a certificate. ... more
The seventh heaven
Source: The Times of India Jul 13, 2016
Realty sector is expected to witness an increased activity, thanks to implementation of the 7th pay commission. ... more
Office space absorption up 46% in June quarter
Source: The Economic Times Jul 13, 2016
Real estate consultancy firm CBRE in its latest report says there has been a quarter-on-quarter (q-o-q) growth of 46 per cent in office space take-up, primarily led by the Delhi national capital region (NCR) and Bengaluru, which accounted for almost 50 per cent of the total space take-up. ... more
Towards sustainable transport network
Source: The Times of India Jul 12, 2016
Boosting last-mile connectivity, expanding catchment areas for the city’s rapid transit systems; direct impact on real estate development ... more
Art of egotiation
Source: The Times of India Jul 12, 2016
Keeping these points in mind will help you execute a smooth negotiation process with the seller. ... more
PE investment in retail real estate at Rs 1,000 cr in Jan-May
Source: Business Standard Jul 07, 2016
Indian retail real estate has become attractive again for global investor as private equity (PE) investment in this segment has reached $149 million in the first five months of this year and likely to break the previous record of 2008, according to property consultant JLL. ... more
PE inflows into retail real estate at $149 mn in first five months of 2016
Source: The Hindu Business Line Jul 07, 2016
Private equity (PE) inflows into the retail real estate sector has crossed 2007 levels in the first five months of 2016 and is expected to cross the previous high of 2008. ... more
Salary surge likely to boost realty demand, say builders
Source: The Times of India Jul 02, 2016
City-based real estate developers and experts cheered as the Union cabinet cleared the 7th Pay Commission recommendations. ... more
Property investments help in tax planning
Source: The Times of India Jul 02, 2016
The tax benefits and high capital gains a property investment brings make it a good option. ... more
7th pay commission could work well for real estate
Source: The Times of India Jul 01, 2016
The impact of the 7th Pay Commission recommendations symbolizes the growing economy and I believe housing sector will be the biggest beneficiaries among all. Sudden rise in income and expenditure capacity of government employees may move towards real estate investment. The recommendations are likely to be involved in stimulating the demand of realty sector not only in metro but also in tier 2 & 3 cities too where property buyers are more demanding. ... more
Soon, a CoE for sustainable habitats
Source: The Times of India May 24, 2016
The Energy and Resources Institute (TERI) and Mahindra Lifespaces today announced the creation of a Center of Excellence (CoE) focused on improving energy efficiency in India’s residential buildings sector. The ‘Mahindra TERI CoE for Sustainable Habitats’ – as this Center will be known - will evaluate both traditional and innovative technologies and alternative materials customised for the Indian buildings sector and climate zones. The Center will bring the much needed informed validated knowledge about better performing materials and ways to use the ample daylight available, that will greatly help to mainstream greener buildings in the country. ... more
Real Estate Act comes into force from May
Source: The Times of India May 03, 2016
The much awaited and widely acclaimed Real Estate (Regulation and Development) Act, 2016 comes into force from May 1, 2016 setting in motion the process of making necessary operational rules and creation of institutional infrastructure for protecting the interests of consumers and promoting the growth of real estate sector in an environment of trust, confidence, credible transactions and efficient and time bound execution of projects. ... more
Seek the help of an expert while managing finances
Source: The Times of India Apr 26, 2016
Straying away from the fixed budget or not accounting hidden expenditures could lead to money issues. Real estate experts always advise to take everything into consideration. Magicbricks talked with Dhiraj Mittal, CEO, Prime Capital Services Private Ltd, for some quick tips on managing wealth in real estate. ... more
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