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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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The 'view' that sells properties
Source: The Times Of India Apr 24, 2015
One of the renowned developers in East Coast Road (ECR), Chennai is asking between Rs 70 lakh and Rs 1 crore for 2 and 3BHK apartments with a sea-view while another developer in Bangur Nagar, Mumbai is demanding around Rs 80 lakh for 1BHK flats with a sea-view. ... more
India Infoline Housing Finance cuts home loan interest rate by 25 bps to 9.90%
Source: The Financial Express Apr 16, 2015
Private sector housing finance company India Infoline Housing Finance Ltd (IIHFL) has cut the interest rate on its home loans by 25 basis points to 9.90%, from 10.15% earlier. The reduced rates will be applicable with immediate effect. ... more
Tata Housing likely to invest Rs 2,000 cr on new projects in 2015
Source: Hindustan Times Apr 16, 2015
Banking on falling interest rates and a reviving economy to boost a thus-far sluggish housing market, Tata Housing Development Company (THDC)plans to launch at least 10-12 new properties this year, up from about seven in 2014. ... more
Government plans two immersed tunnels through sea, river in Andaman & West Bengal
Source: The Economic Times Apr 14, 2015
India may get the first two immersed tunnels through sea and river in the next few years. The shipping ministry has envisaged these projects — one between Kakdwip and Sagar island in West Bengal and the other connecting Chatham and Bamboo Flat in Andaman Nicobar islands. ... more
Why you should invest in a second home?
Source: The Times Of India Apr 13, 2015
There is no doubt in the fact that real estate price appreciation is not just beating the inflationary pressure but is also offering the buyer good returns provided that the location and policies favor the realty eco-system. ... more
Guidelines to NRIs for buying property in India
Source: The Times Of India Apr 13, 2015
Thrilled by the steps taken by the central government, there are many Non Resident Indians (NRIs) or Person of Indian Origins (PIO) who are looking to invest in the real estate market of India. However, many remain unaware of the procedures and implications related to property purchase. ... more
Industry welcomes Real Estate Regulatory Bill
Source: The Times Of India Apr 09, 2015
Manoj Gaur, MD Gaursons India Ltd. & President CREDAI Western UP: We welcome the nod on the Real Estate bill from the cabinet as it will send out the positive signs. This bill will help in keeping a check on the developers who are indulge in the malpractices which is effecting the image of the sector among the buyers and investors as well. It would have been much appreciated if the Real Estate Regulatory Authority was granted limited controlling authority. However, we will propose our inputs to the government which can be added in the bill to make it more effective from the buyers and developers point of view? ... more
Good news for home buyers! Nod for amendments to Real Estate Bill
Source: The Times Of India Apr 09, 2015
The Union Cabinet has approved the Real Estate Development and Regulation Bill along with certain key amendments that will make way for setting up of a regulator for the sector. The Bill and a uniform regulatory mechanism across the country are aimed at protecting property buyers' interest by bringing in much-needed transparency and accountability into the sector. ... more
Home loan rate of 8-9% can trigger real housing recovery: Credai
Source: The Economic Times Apr 09, 2015
Reducing home loan rates to 8-9% can improve buyer sentiment and trigger a recovery in the housing sector, Getamber Anand, the newly elected president of industry body Confederation of Real Estate Developers Association of India (CREDAI), has said. "Single-digit home loan rates coupled with the festive season will surely bring fence-sitters to the market and boost housing demand from October this year," Anand said on Tuesday. ... more
Smart City project will be implemented on public-private partnership mode after cabinet approval
Source: The Economic Times Apr 02, 2015
Smart City project is in advanced stage and will be implemented on public-private partnership (PPP) mode after cabinet approval. Urban Development Minister Venkaiah Naidu said this during discussions with a Swedish delegation, led by Anna Johansson, Sweden's Minister for Infrastructure. ... more
Now, no stamp duty on transfer of flat, land to heirs
Source: The Times Of India Mar 28, 2015
Immovable property - land, house or flat - can now be transferred to one's children or blood relatives without paying stamp duty for registration. This will come as a major relief as families won't have to pay a 5% of the ready reckoner rate of the property as stamp duty. Making the announcement, revenue minister Eknath Khadse said an affidavit on a Rs 100 stamp paper would suffice. He later changed it to Rs 500 as the government no longer deals in Rs 100 stamp paper for property matters. ... more
Design trend: Natural and minimalist are in vogue
Source: Financial Chronicle Mar 19, 2015
The interior design segment in India is undergoing a sea change with global trends, designs and materials finding a place in our living spaces, and at the same time as the rest of the world. Indians today are well-travelled and want nothing short of the best and the latest for their abodes. ... more
Land Acquisition Bill likely to be passed this week: Minister
Source: The Hindu Business Line Mar 16, 2015
Environment Minister Prakash Javadekar today expressed confidence that the amended Land Acquisition Bill will be passed by the Rajya Sabha this week. He said two others bills, the Coal Bill and the Mines, are also likely to be passed by the Upper House next week. ... more
Home loan: RBI reduces burden on buyers, industry calls move ‘insufficient’
Source: Financial Express Mar 16, 2015
If the Budget turned out to be a non-event for the real estate sector except for benefits to Real Estate Investment Trusts (REITs), the Reserve Bank of India last week offered some relief to home buyers, especially those belonging to the low-income category and for houses that may fall in the affordable category or in Tier II and Tier III cities. ... more
Lok Sabha clears Land Acquisition Bill
Source: Business Standard Mar 11, 2015
The Lok Sabha on Tuesday cleared the contentious land acquisition Bill, along with nine amendments proposed by the government. Though these amendments convinced some National Democratic Alliance (NDA) partners to come on board, they failed to appease the Congress and most other Opposition parties, which walked out at the time of voting on the Bill. ... more
Union Budget 2015: A roof for all in India by 2022 with 24-hour power and clean water
Source: The Economic Times Mar 02, 2015
"A roof for each family in India by 2022" was the call given by the finance minister who announced a grand plan to build two crore houses in urban and four crore in rural areas by 2022. It would be led by the states and guided by the Centre. Arun Jaitley wanted each house to have 24-hour power supply, clean drinking water, a toilet, and be connected to a road. ... more
GST- A positive development for Real Estate
Source: MoneyControl.com Feb 18, 2015
Real estate industry in India in the recent past has seen a phenomenal growth, not just in the Tier 1 cities, but even Tier 2 and Tier 3 cities and towns. The industry is in the cusp of increased regulations, with bills such as the Real Estate (Regulation and Development) Bill, pending for approval in the side lines. GST is another development that will have a significant impact on this sector. ... more
All central govt babus to file property returns twice for this year: DoPT
Source: Zee News Feb 18, 2015
All central government officials will have to file details of their assets and liabilities twice this year in the wake of implementation of the Lokpal Act. The first return under the Lokpal and Lokayuktas Act as on August 1, 2014 should be filed on or before April 30 this year, an order issued by the Department of Personnel and Training (DoPT) said. ... more
Brokers' body suggests dedicated fund for infrastructure projects
Source: The Economic Times Feb 17, 2015
In order to help mobilise money from the capital market for infrastructure sector, brokers' grouping ANMI has said the government should set up a dedicated fund for such projects and provide tax incentives on investments. ... more
As Rivals Falter, India's Economy Is Surging Ahead
Source: The New York Times Feb 17, 2015
China's economy is slowing. Brazil is struggling as commodity prices plunge. Russia, facing Western sanctions and weak oil revenue, is headed into a recession. As other big developing markets stumble, India is emerging as one of the few hopes for global growth. ... more
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