CREDAI has demanded that banks should fund developers to buy land for development of affordable housing projects.

CREDAI

By Abhay Harish Shah, Realty Quarter In its budget wish list, Realtors apex body CREDAI requested that banks should finance developers to purchase land to develop affordable housing projects. It has also indicated that all legislation should have the same concept of affordable housing. “Land as a value of the project comprises 40% of the overall project cost. Under the […]

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Residential developers are switching to construct Commercial Properties.

Commercial Property

By Abhay Harish Shah, Realty Quarter The real estate industry has experienced the launch of projects in SEZ, retail, luxurious homes or even affordable housing, without any justification for countless occasions. This often resulted in over-supply of such projects in the particular segment, or the specific micro markets. In this context, some of the owners of residential builders are now engaged […]

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Minimum MahaRERA registration charges decreased from Rs.50,000 to Rs.10,000.

Rural Area Development

By Abhay Harish Shah, Realty Quarter   In order to ensure that larger units can be undertaken under its remit, particularly in rural regions, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has decreased the minimum registration fee from Rs.50,000 to Rs.10,000. The amendment took place under the revised regulations issued by the Maharashtra Housing Department on June 6th, representatives of MahaRERA […]

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Rules by FEMA to purchase a property abroad.

FEMA

By Abhay Harish Shah, Realty Quarter The Foreign Exchange Management Act (FEMA) governs the provision for ownership of property outside India by a resident Indian. An Indian citizen may have a real estate overseas, subject to certain terms set out in the Foreign Exchange Management Act (FEMA).   Owning a Property in abroad country: Without a particular or unique consent from Reserve […]

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From July 1st SBI home loans will be linked with the repo rate.

SBI

By Abhay Harish Shah, Realty Quarter On Friday the State Bank of India (SBI), the largest mass-lender in the country, opened a unique era of customer credit transparency by connecting sales of their home financial goods with the amount used by the central bank to set a wider borrowing price in the industry. The lender said in a declaration a day […]

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NPAs decline to 9.3% in FY19, deeper than the RBI forecast: Crisil.

Bank

By Abhay Harish Shah, Realty Quarter In March 2019, the system-wide non-performing asset stock decreased significantly to 9.3%, much sooner than the Reserve Bank’s forecast and steeply down from 11.5% the year before, according to a report. The report by Crisil emerges at a moment when most banks are at the cusp of ending the NPA pain after a long era and […]

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Bombay HC will hear environmental experts on cutting mangroves for Bullet Train project.

High Court

By Abhay Harish Shah, Realty Quarter On June 12 Bombay High Court stated that before finalising on a plea seeking hacking of mangroves to pave way for the Mumbai-Ahmedabad bullet train project, it needs to understand environmental expert’s point of view. A request by the National National High Speed Rail Corporation Ltd (NHSRCL) for authority to cut mangroves spread over 13 […]

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Maharashtra Government is considering the feasibility of a proposal for affordable housing development on a salt pan land.

Affordable Housing

By Abhay Harish Shah, Realty Quarter A statement by the Revenue and Forest Department said that the Maharashtra state has adopted the first step toward the development of affordable housing on a salt pan land and plans for revising a proposal within 60days which is offered by the property development company. The chosen salt pan land is situated on the Eastern Express Highway […]

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Unsold Stock of Luxury Apartment has gone down by 12% since last year.

Buying property in Abroad

By Abhay Harish Shah, Realty Quarter According to property consultant Anarock, stable rates created luxury homes more appealing, with unsold homes priced between Rs.1.5-2.5 crore has gone done by 12% in the past year. Indian residential property in recent years has slowed down, shunning luxury homes and considering further investments in or out of the real estate by most high net-worth […]

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How Government reforms can Up-lift the Real Estate Industry?

Real Estate Market

By Abhay Harish Shah, Realty Quarter With the 2019 general elections, which give Narendra Modi a definite mandate for a second time as Prime Minister, the real estate industry is optimistic because it means a continuation in policies. In the last three to four years, the state has taken several significant policy choices and business leaders and the consumers of […]

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