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Indian Real Estate News : Mumbai
With a population of around 19 million people, Mumbai and its suburbs encompasses one of the biggest urban agglomerates in the world, which is only second to Tokyo. The population of Mumbai is increasing at a massive rate ... more
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Industry expecting good sales on Akshaya Tritiya
Source: The Times of India Apr 17, 2014
While Akshaya Tritiya is round the corner, it is one such momentous occasion which is taken into consideration while dealing in property. With sluggish economic phase, real estate industry is expecting high number of transaction on this auspicious occasion which will bring back the eminence in the sector. ... more
NBCC to redevelop govt projects in 3 cities
Source: Business Standard Mar 12, 2014
After the much-talked makeover of government flats in Delhi’s Moti Bagh, public sector company National Buildings Construction Corporation (NBCC) is looking outside the national capital. NBCC is planning to redevelop at least three government housing projects worth Rs 5,000-6,000 crore in other parts of the country. ... 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
Infrastructure spending raised 8.6%
Source: Business Standard Feb 17, 2014
In the interim Budget for 2014-15, Finance Minister P Chidambaram has raised allocation towards the infrastructure sector by as much as 8.6 per cent. The government will allocate Rs 1,81,134 crore to the sector, comprising power, coal, roads, civil aviation, ports and railways, against Rs 1,66,756 crore in 2013-14. ... more
Affordable housing, a reliable sector
Source: Livemint Feb 16, 2014
The affordable housing segment has emerged as one of the most vibrant and dynamic sectors in the Indian real estate industry. Various factors have contributed to this growth - on the supply side it is the entry of various real estate developers and availability of financial options; whereas rapid urbanization, growing trend of nuclear families and rising income levels have fuelled the demand for affordable housing. There is hardly a dispute that there still is a considerable supply shortage in this segment. ... 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
Home prices rise up to 8% in 16 cities, Mumbai stagnant during October-December
Source: The Economic Times Feb 11, 2014
Despite weak home sales in many cities, prices continued to rise in 16 property markets including Delhi, Bangalore, Chennai, Pune and Hyderabad in the quarter ended December, according to the National Housing Bank's housing prices index, NHB Residex. ... more
Tata Capital offers special home loan rates for women
Source: The Hindu Business Line Feb 10, 2014
Tata Capital Ltd’s housing finance subsidiary, Tata Capital Housing Finance Ltd, has announced a special home loan offer for women. “This special scheme offers an interest rate of 10.15 per cent for loans up to Rs.40 lakh obtained till Women’s Day, that is, March 8, 2014, the normal rate of interest being 10.50 per cent,” Tata Capital said in a statement. ... 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
Industry reaction on increased repo rates
Source: The Times of India Jan 28, 2014
"It is a highly disappointing step by RBI to raise repo rate by 25pbs. It is not going to help RBI curb inflation any more. In fact, in its fight with inflation, Hon’ble governor is completely ignoring the IIP data which is already diving down into negative territory. The manufacturing and construction sector is struggling hard to move on. We were actually expecting a rate cut instead from the apex bank which would have infused some positive vibes in this sentiment driven market. This move by RBI would encourage banks to increase their lending rates which are already beyond reach. I am afraid this rate hike will demoralize home buyers who already prefer fence-sitting due to unstable political scenario. Indeed, it is a bad days for Indian realty.” ... more
Realtors left wringing hands with home loans set to cost more
Source: The Hindu Business Line Jan 28, 2014
Hit by slowdown in sales coupled with few new launches, the real estate sector says it is disappointed by the Reserve Bank of India’s move to hike the repo rate. The move will increase lending rates for customers and borrowing rates for developers, they say. ... more
Infra thrust: 8 States to set up project monitoring groups
Source: The Hindu Business Line Jan 28, 2014
As many as eight States are in the process of setting up project monitoring groups to facilitate clearance of smaller infrastructure projects on the lines of the one set up by the Prime Minister at the Centre. ... more
House tracking index to be launched by Jan end: Vyas
Source: The Financial Express Jan 15, 2014
The Housing Start Up Index (HSUI), which will track the number of houses being constructed every year across the country, will be launched by the end of January, housing and urban poverty alleviation minister Girija Vyas said on Wednesday. ... more
Hidco identifies 16 unused plots
Source: The Times of India Jan 15, 2014
The Housing Infrastructure Development Corporation (Hidco) has identified 16 non-residential plot allottees in Rajarhat New Town who have yet to utilize their plots that were allotted in 2009 or earlier. The Kolkata government had earlier decided that no plot could be kept idle for more than six months after being allotted. Hidco authorities are now working out the process to impose a late fee of 10% of the total cost as penalty for each year of delay to these 16 identified plot allottees. This would be in addition to any other legal steps that the authorities may chalk out. ... more
Demand for office space set to perk up
Source: The Times of India Jan 07, 2014
In 2014, the real estate market is likely to see an increase in activity. Sanjay Dutt, Executive Managing Director (South Asia), Cushman and Wakefield, says, “With the economy expecting more stability in the post-election phase from 2014, the absorption trend is also expected to pick pace, especially in established markets of Bangalore, Mumbai, and the NCR.” Dutt says that the office market is expected to remain attractive for occupiers with steady increase in absorption. “We expect growth to set in from the second half of 2014, when an increase in leasing activities on account of entry of new companies into the country, the expansion of existing companies, and indeed relocation and consolidation activities that are expected to continue kick in,” Dutt said. ... more
Own a house in Mumbai in just Rs 10-30 lakh
Source: The Times of India Jan 06, 2014
With property values increasing at a brisk pace, owning a house in Mumbai has become a dream for many. And more so, if you have a restricted budget of Rs 10-30 lakh. But here’s a reason to cheer as here is an area in Mumbai where ‘affordability’ is still a reality. ... more
Single Window Clearance system to be priority in 2014
Source: The Times of India Dec 27, 2013
The NCR Chapter of Confederation of Real Estate Developers Association of India or CREDAI-NCR has mooted a proposal to intensify its efforts for a single window clearance for projects. In a meeting to take stock of 2013, Anil Kumar Sharma, president, CREDAI-NCR & CMD, Amrapali Group and the members of the body were of the view that unnecessary and sometimes motivated delays in clearances of projects and subsequently in issuing the NOC for possession purposes are not only affecting the buyers but also negatively impacting the developers. In the view of experience faced during 2013, the members supported a proposal for concerted and sustained efforts for making the single-window clearance system a reality in 2014. ... more
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