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Industry reacts on RBI rate cut
Source: The Times of India Jan 16, 2015
Nayan A Shah, CEO & Managing Director, Mayfair Group- It is a very positive sign that Dr. Raghuram Rajan has initiated, It is First rate Cut after 2013, This will induce Banks to offer New Home loans at the rate below 10 % after a gap of around 4 Years which shall act as confidence building move for new home buyers. Also lending rates by Banks to Real Estate Developers. This Shows the confidence in the Economy and that now inflationary pressure is within control and now on more growth can be seen. Overall, it is a very positive news for economy and growth oriented and confidence boosting and shall all the sectors across Economy. ... more
RBI signals turn in rate cycle with repo cut, hint of more
Source: The Hindu Business Line Jan 16, 2015
The Reserve Bank of India (RBI) on Thursday sprang a surprise, trimming the repo rate by 25 basis points, signalling a turn in the rate cycle. However, not all banks were sure they would be cutting lending rates soon given how a lower yield could hurt margins at a time when cheaper credit was not expected to stimulate demand in the near future. ... more
CESC planning for a 150-crore real estate venture
Source: Business Standard Jan 15, 2015
CESC is also planning to develop an residential cum commercial complex at Haldia with an investment of Rs 150 crore. This would be first ever venture of into residential complex by CESC. ... more
Real estate sector to see a turnaround in 2015
Source: MoneyControl.com Jan 14, 2015
A cut in interest rates is round the corner, which should boost the demand for real estate. A government with the strong mandate has already initiated a series of reforms which should create a positive environment for growth. ... more
Office space leasing grows 11 percent in 2014
Source: The Economic Times Jan 13, 2015
Office space leasing increased by 11 per cent last year to nearly 30 million sq ft in seven major cities on higher demand from corporates looking for expansion, according to property consultant JLL India. These seven cities are - Delhi, Mumbai, Bangalore, Chennai, Pune, Hyderabad and Kolkata. ... more
Real Estate Regulation Bill in the offing: Venkaiah Naidu
Source: The Hindu Business Line Dec 27, 2014
The NDA Government is planning to introduce a comprehensive Real Estate Regulation Bill to protect the interests of the buyers as well as to regulate the industry, according to the Union Minister for Urban Development, M Venkaiah Naidu. He was speaking at the silver jubilee function of the Visakhapatnam chapter of the Confederation of Real Estate Developers' Associations of India (Credai) here on Thursday evening. He said, however, the industry need not be worried over the move, as "the Government is only contemplating regulation, not strangulation, of the industry. In fact, it is best if the industry regulates itself through organisations like Credai by adhering to a self-imposed code of conduct. It will obviate the need for Government intervention." ... more
Sector bets big on Year 2015
Source: The Times of India Dec 27, 2014
Hopes Centre will bring quick reforms: reduce time taken for approvals, remove bottlenecks in the supply of raw material Given the positive sentiments that prevail in the economy-and these are translating into increased demand for office space-there is expectation that the residential sector will see an upward momentum in 2015. ... more
Kolkata buyers prefer apartments over standalone houses
Source: The Times of India Dec 02, 2014
When it comes to buying a house across India, apartments are known to be the most preferred property type. Kolkata property buyers are no different. Over the standalones available in large numbers in Jadavpur locality, the home buyers here prefer apartments. “There is a considerable supply of standalone buildings in Jadavpur, but right from enquiries to the final transaction, the buyers are moving towards well developed apartments in a complex/gated community,” says Anish Biswas, consultant, Transventor Management Services Pvt Ltd. ... more
Real estate v/s stocks, gold: Which is right for you?
Source: The Times of India Dec 02, 2014
With many options of INVESTMENT available in the market, real estate buyers and investors would like to know which is better - real estate or stocks or mutual funds or investing in the yellow metal. Which would you prefer for your FINANCIALportfolio? What should you keep in mind before investing? Each type of investment has its pros and cons. There are several aspects of each that make them unique investments in their own way. To advise and guide you on the same, Magicbricks organised GuruTalk - a live chat session with Kalyan Chakrabarti, managing director, Red Fort Capital. The topic of the session was ‘Real estate V/s other investment options, in today’s market’. ... more
Reserve Bank of India eases rules for low-cost home loans
Source: The Economic Times Dec 01, 2014
The Reserve Bank of India has eased norms to fund low-cost housing by permitting banks to extend loans against long-term infrastructure bonds. The Reserve Bank of India however barred lenders from providing loans against long-term infrastructure bonds issued by other banks. ... more
Ministry may end 3-year lock-in for foreign investors in construction
Source: The Economic Times Nov 25, 2014
Overseas investors could get a free run in the construction and development sector with the government considering removal of the three-year lock-in for the overseas investments. The housing ministry's latest proposal is now being examined by stakeholder ministries, including the Department of Industrial Policy and Promotion (DIPP). ... more
Interest subvention scheme for housing sector soon: Venkaiah Naidu
Source: The Economic Times Nov 25, 2014
The government will soon launch an interest subvention scheme in the housing sector that will meet part of the buyer's home loan burden, Union urban development minister M Venkaiah Naidu said on Monday. Speaking at the annual Confederation of Real Estate Developers' Associations of India (CREDAI) Conclave, Naidu said the scheme will benefit home buyers in the middle and lower income groups besides those belonging to the economically weaker section (EWS) category. ... more
Real Estate Bill to be reality soon: Venkaiah
Source: The Hindu Business Line Nov 25, 2014
The Real Estate Development and Regulation Bill is in the final stage of consultation after talks with various stakeholders, Urban Development Minister M Venkaiah Naidu said on Monday. “I have gone through the draft yesterday. Once the Cabinet approves the Bill, I am hoping for early clearance. If not this Winter session, then by Budget session of Parliament, the Bill will be a reality,” he said. ... more
Tollygunge gains preference among buyers!Tollygunge gains preference among buyers!
Source: The Times of India Nov 17, 2014
Tollygunge, a locality famous for golf clubs, has been included in the list of top ten preferred localities for sale, as per the latest PropIndex (Jul-Sep 2014), the India Apartment Index by Magicbricks. While it was a consistent name in the list of top ten preferred localities for rent for the last nine months, this is the first time it has entered the sale list as well, during the same quarter. Currently, the locality is offering comparatively affordable capital values and high rental returns, attracting both end-users and investors. ... more
FIXED-RATE LOAN IS BACK!
Source: The Times of India Nov 08, 2014
After a long time, the fixed rate home loan is back in the MARKET. Over the last few years, the interest rates on housing loans have been gradually increasing. Even though they stabilized over the last couple of years, there were not many banks offering a fixed-interest rate loan. In case of a fixed-rate loan, the rate of interest is decided before hand at the time of availing the loan.The rate remains the same during a fixed part of the tenure of the loan irrespective of the MARKET rates. In case the interest rate goes up, the borrower still pays the prior agreed lower rate. In case the interest rate goes down, the borrower loses as he has to pay a higher rate com pared to the MARKET rate. ... more
KMC to waive 50% interest on property tax dues
Source: The Times of India Nov 08, 2014
Those who missed out on the property tax waiver scheme offered by Kolkata Municipal Corporation in February 2012, needn’t lose heart. Desperate to win citizen’s favour before the civic polls, the Trinamool Congress-run KMC board is all set to offer another waiver to the property tax defaulters. ... more
Jadavpur realty, a preferred choice for professionals
Source: The Times of India Nov 08, 2014
If you are a professional looking to live in a developed part of Kolkata with proximity to work spaces, then Jadavpur can be considered as an option. The area has showed a considerable rise in capital values, making it top the list of buyers looking for capital appreciation. Jadavpur is the only area to garner the highest rise of eight per cent in capital values, unlike other localities with a minimum rise of 2-3 per cent, as per PropIndex (Jul-Sep 2014), the India Apartment Index by Magicbricks. ... more
Housing prices rise in 18 cities by up to 3.9 per cent: NHBHousing prices rise in 18 cities by up to 3.9 per cent: NHB
Source: The Times of India Nov 05, 2014
Housing prices appreciated in 18 major cities by up to 3.9 per cent in April-June over the preceding quarter while property rates fell in six cities including Delhi, according to National Housing Bank (NHB). In the national capital, housing prices dropped by 3 per cent during the first quarter of this fiscal compared with the January-March 2014. ... more
Land acquisition law may be eased for PPP projects
Source: Business Standard Nov 05, 2014
The National Democratic Alliance government is planning to exempt public-private partnership (PPP) projects from the need to obtain consent of affected families and the mandatory social-impact assessment, through amendments to the land acquisition law. In the Bill put up by the previous government and passed by Parliament, PPP projects need consent of 70 per cent of affected families and have to study the social implications in the neighborhood. ... more
New Garia metro to work for local real estate
Source: The Times of India Nov 01, 2014
The 32 km metro extension from New Garia (Kavi Subhash Station) to Subhash Chandra Bose International Airport (Biman Bandar Station) is finally nearing completion. After much delay, the construction has picked up pace. This is expected to not only enhance connectivity but also push up property prices in the area. ... more
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