Search Results for: home loan

Nirmala Sitharaman held meetings to discuss real estate sector issues and measures to be taken to strengthen the industry.

August 12, 2019

By Abhay Shah, Realty Quarter On 11 August, after the industry and homebuyers met with Finance Minister Nirmala Sitharaman to emphasize their issues regarding liquidity crunch, demand slowdown and stalled projects, the government proposed it would soon solve the problems that are affecting the real estate sector. The Minister of Finance conducted two separate meetings on August 11 – the first with the two apex realtors’ industry bodies CREDAI and NAREDCO, and the second with homebuyer associations to address the problems related to the property industry and measures to improve […]

Part of Palais Royale to be auction by the collector – Mumbai

July 17, 2019

By Abhay Shah, Realty Quarter Besides problems for the developer of Palais Royale, the 56-floor under-construction tower at Worli Naka in Mumbai, the town collector will auction out a portion of the land he stands to recover dues for a flat purchaser. The forthcoming sale was made on the order of the government housing regulator MahaRera last […]

Mr Neh Srivastava, Under Secretary, Ministry of Home Affairs and President, CSSOS

New tax regime for buyers with completion certificate; flexibility to opt for lower GST sans ITC

July 4, 2019

By- Mr Neh Srivastava Under Secretary, Ministry of Home Affairs and President, CSSOS With elections done and dusted, the Central Board of Indirect Taxes and Customs (CBIC) is moving ahead with its plan to implement its 12 per cent GST order on balance amount due to the builders. As per the order, Home buyers who have been granted completion […]

DHFL got 7 days grace period, after failing Rs.1,000 crore plus obligation deadline.

June 6, 2019

By Abhay Harish Shah, Realty Quarter On Tuesday the Dewan Housing Finance Ltd (DHFL) was supposed to pay the outstanding bonds but, the deadline is passed and the payment is still on due. DHFL has got 7 days grace period later. The company is in discussion with financiers who can help to meet its Rs.1,000 […]

IBA and CREDAI join up to solve unfinished project.

March 22, 2019

By Abhay Harish Shah , Realty Quarter The problem of delaying the unfinished projects is quite annoying and stressful for the residing people. Recently, In an ongoing gathering with agents of the Indian Banks Association (IBA), real-estate developers examined different issues […]

Crooked Mumbai builders have left 1.25 lakh families in lurch

December 27, 2018

Mumbai According to an estimate, about 5,800 redevelopment projects in the city are at a standstill and hapless citizens have been left in the lurch by fly-by-night builders who abandoned the projects after promising new homes in place of what were residences for generations. Over 1.25 lakh families are believed to be affected because builders […]

How a bank credit shortage has hijacked Indian real estate’s growth story

October 29, 2018

India’s banking liquidity crunch is extending to the nation’s developers, threatening to derail a nascent recovery in the property sector. Home builders in India have increasingly been turning to non-bank lenders for funding as traditional financiers struggle under bad loans. But following the government’s seizure of troubled shadow bank Infrastructure Leasing & Financial Services Ltd. […]

Vasai-Virar builders use YouTube to sell illegal chawl rooms for Rs 4 lakh

October 25, 2018

Mumbai Unauthorized constructions and land grabs are not new to the city and suburbs, but in Vasai-Virar, the illegality has turned so brazen that builders have taken to social media to openly advertise projects built on encroached government and reserved plots. Recently, the Vasai-Virar Municipal Corporation (VVMC) was stunned to see a video on YouTube […]

Bankers Are Worried About Sky- High Commercial Real Estate Prices

October 11, 2018

Janet Yellen recorded the warning a day before stepping down as Federal Reserve chair in February: Commercial real estate prices look strikingly high. Her successor, Jerome Powell, flagged it again a month later. Analysts at Goldman Sachs Group Inc. tried in May to put a number on it: Properties may be overvalued as much as […]

India’s sluggish housing market may deteriorate further if the central bank hikes rates

October 4, 2018

India’s housing market has struggled for growth in recent years and if the central bank raises interest rates this week, there could be a further slowdown in the sector, experts told CNBC. A rate hike would “definitely have a negative impact” on the housing market outlook, Ramesh Nair, CEO and country head at real estate […]