To provide a booster to the property market, on January 8, India’s leading lender, State Bank of India, has unveiled a guarantee scheme for home buyer funding whereby, if the developer fails to deliver the house within a predetermined time, the lender will reimburse the entire amount of the principal. Until the occupation certificate is […]
State Bank of India initiates Home Buyer Finance Guarantee Scheme.more
Nanma Properties, part of the Eastern Group has established preparations for entrance into the affordable housing market. The decision of the Group reflects the declaration by the Central Government of the subsidies for the affordable housing sector. Navas Meeran, Chairman of the Eastern Group, said Nanma Properties Ltd will invest Rs 2,500 crore in an […]
Nanma Properties, part of the Eastern Group is going to enter into Affordable Housing Market.more
As the real estate market is still in a major slump, some of the biggest developers have found a new way of drawing customers to their high-end projects. They also addressed Mumbai Metro Rail Corporation (MMRC) to provide them with direct access to the underground stations of the 33.5 km Colaba-Bandra-Seepz Metro-3 from their current […]
Mumbai developers approached MMRC to get direct access to Metro stations through their projects.more
Homebuyers opposed the central government’s ordinance to amend the Insolvency & Bankruptcy Code (IBC) 2016 and demanded a stay of the operation of Section 3 of the Insolvency and Bankruptcy Code (Amendment) 2019, which aims to modify Section 7 of the IBC. “The writ petition is filed by 11 petitioners from 11 different projects, including […]
Homebuyers filed a writ petition in SC challenging IBC amendment.more
According to the London-based real estate consultancy Knight Frank annual report, Housing sales in Delhi-NCR saw 5% YOY growth and new residential launches increased by 45% in 2019 compared to 2018. The report stated that the period from 2016 to 2019 was the transitional period, when policy changes such as the Real Estate (Regulation and […]
Knight Frank Report: NCR witnessed a 45% rise in new residential launches in 2019.more
With finance minister Nirmala Sitharaman on February presenting the Union Budget 2020-21, real estate chambers pursued to dilute the definition of affordable housing in order to enable more properties to fall within its scope and take advantage of the opportunities. The concept of affordable housing currently means a house or flat in non-metropolitan cities and […]
Real Estate bodies seek to develop more properties under the affordable housing scheme.more
Supertech, a real estate company, said on January 5th, that they sought Rs 1,500 crore from the newly established government Stress Fund to complete their 12 ongoing housing projects in Noida and Greater Noida in Uttar Pradesh. The firm said the 12 projects consisting of 20,000 flats are in an advanced stage and that last […]
Realty firm Supertech applies for last-mile funding of Rs 1,500 cr.more
On Sunday, Eknath Shinde, newly appointed Minister of Urban Development, said that the government is expected to intensify its work to extend the Pune’s metro network. Shinde, who flagged off the second tunnel-boring machine (TBM) on Sunday for the city’s underground Metro stretch, also said Metro rail projects will be launched after Pune and Nagpur […]
Eknath Shinde spoke about the fast-moving metro extension in Maharashtra.more
On December 30th, Fitch Solutions said it expects the residential and non-residential building sector of the country to grow by 6.6% in 2020, led by fiscal support and increased focus on providing affordable housing in urban areas. “A mix of tax support and government policies supporting the housings market, and enhanced activity within the logistics, […]
Real Estate Sector Forecast: Residential and Non-Residential construction is likely to grow in India.more
This year investment in the property industry in India, driven mainly by a large demand of commercial IT companies’ office properties, is likely to rise by 5% to USD 6.5 billion (around Rs 46,000 crore), according to the global real estate consultant Colliers. The real estate market gained USD 6.2 billion last year, up 8.7% […]
Colliers International Report – Indian real estate sector to attract USD 6.5 billion investment.more
