According to those with knowledge of the situation, home loan applicants may be eligible for higher funding if the banking sector regulator approves a bank application to include stamp duty and other registration fees in the project cost. Lenders claimed that following an internal discussion at a meeting held last month, they contacted the Reserve […]
GURUGRAM: The directors of the Mahira Group, Samalakha MLA Dharam Singh Chhoker and his sons Sikander Singh and Vikas Chhoker, allegedly stole close to Rs 107.5 crore from roughly 1,500 homeowners in a low-cost housing project in Sector 68, the Enforcement Directorate claimed on Monday. According to the investigation agency, the accused transferred loans to […]
NOIDA: Purchasing land near the Noida International Airport site is expected to become more expensive beginning in April. The board of the Yamuna Expressway Authority has increased the land allotment rates in the Jewar airport premises by 30% to 40%, effective next fiscal year. While rates in the group housing and residential plot categories have […]
The Central Bureau of Investigation (CBI) is conducting searches on former Dewan Housing Finance Ltd borrowers as part of its investigation into the Yes Bank scam (DHFL). According to sources, raids are taking place in six cities, including Mumbai and Pune. According to sources, among those being searched are the offices of builder Sanjay Chhabria […]
The Delhi High Court has stepped in to help hundreds of “beleaguered” homebuyers by prohibiting banks/Housing Finance Companies (HFCs) from taking coercive action to recover EMIs for unfinished projects. Justice Rekha Palli recently granted an interim stay of proceedings in favour of homebuyers who invested in projects where the builders were supposed to pay EMIs […]
Comments By Real Estate Experts. Mr. Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty and Hon. Secretary, CREDAI MCHI. “We welcome the RBI’s decision to continue with their accommodative stance keeping in mind the economic uncertainty due to the new COVID-19 variant Omicron. The low interest rates have been a crucial factor in the revival of […]
The registrations of property in Mumbai, has yet again witnessed a 10-year high in the month of September led by record-low home loan interest rates and incentives offered by developers. As per the data available from the Government’s Department of Registration and Stamps, the month of September 2021 saw 7,799 properties being registered in Mumbai, up […]
India’s top lenders, State Bank of India (SBI), Kotak Mahindra Bank, HDFC Bank and now ICICI Bank have reduced the interest on home loan rates. In addition to the all-time low-interest rates, there are various offers including discounts on processing fees or special benefits for women buyers to lure the home buyers. Mr. Pritam Chivukula […]
Q 1: How do you assess the present state of real estate in the Post-Covid period? Ans: Like the rest of the economy, real estate too has shown a fast recovery, especially in the third quarter of the current financial year. The trend line for the residential segment is definitely positive as indications emerge from […]
ICRA expects the combined sales volume of the completed and under-structured inventory to decrease by 40-60% due to Covid-19 for the current year. The preference for a completed inventory is therefore expected to continue to favour developers with a greater share of these projects. It anticipates that expenditure on ongoing projects will decrease by approximately […]
