India’s real estate sector –both the residential as well as the commercial segment – has been impacted by the Covid-19 pandemic. The industry will need to reconsider pre-crisis priorities and accelerate new strategic initiatives to adapt to a “next normal”, according to a report by global realty firm JLL. “Real estate as an asset class […]
The coronavirus (Covid-19) pandemic has had a debilitating impact on the real estate sector. It is estimated that housing sales plummeted by 81% in the second quarter of 2020 as compared to the same period in 2019 in the top seven markets of the country, according to a report by private real estate consultancy Anarock. […]
The Forum for People’s Collective Efforts (FPCE), a forum of homebuyers, has sought Prime Minister Narendra Modi’s intervention for interest waiver on home loans. It also wants the extension of project completion by builders to be restricted to only the actual lockdown period. In a letter to the Prime Minister dated June 1, the association […]
The Uttar Pradesh government on Tuesday asked the three industrial development authorities in Gautam Buddh Nagar to reduce interest rates on land dues in view of the COVID-19 pandemic. The decision was conveyed to the Noida Authority, the Greater Noida Authority (GNIDA) and the Yamuna Expressway Authority (YEIDA) in an official letter by Alok Kumar, […]
NEW DELHI: Housing sales are estimated to have plunged by around 75 per cent after the outbreak of the coronavirus pandemic, forcing developers to offer discounts and better payment plans to boost sales, property brokerage firm 360 Realtors said on Saturday. Addressing a virtual press conference, 360 Realtors founder and MD Ankit Kansal said the […]
NEW DELHI: Unable to reduce property price directly due to high circle rates, leading real estate developers in NCR are offering benefits upto 25% of the property value to serious homebuyers in a bid to offload piled up inventory and tide over the liquidity crunch many are facing after the Covid-19 induced nationwide lockdown. Property […]
Many firms are looking to cut down on their rental costs after implementing work from home policies. Most of the firms have said that half of their executives will continue to work from home, directly impacting their need for office space. NEW DELHI: Many multinational companies occupying premium office spaces in Gurgaon are aggressively bargaining […]
BENGALURU: Housing sales and new launches have plunged to a new low across India’s top 7 cities in Q2 2020 amidst economic slowdown and global pandemic. Residential sales in the April-June plummeted by 81% on yearly basis in these cities from 68,600 units in Q2 2019. From April to date, MMR & Bengaluru account for […]
NEW DELHI: The Enforcement Directorate (ED) on Wednesday carried out multiple searches on premises of Shravan Gupta, the former managing director of realty major Emaar MGF, and some others in connection with the AgustaWestland VVIP chopper money laundering case, officials said. Raids are being carried out at nine premises in Delhi, Gurgaon and a few […]
The Supreme Court on Monday directed multinational firm JP Morgan’s Rs 187 crore lying attached with the Enforcement Directorate (ED) to be utilized for the stalled housing projects of the Amrapali Group. In its investigation, the ED had found that JP Morgan Mauritius Company had invested Rs 85 crore in an Amrapali firm in September […]
The average housing prices quoted by developers across major cities are higher by 6-75 per cent than the government’s circle rates, the value at which stamp duties are paid and properties registered, according to real estate consultant Anarock. The research data comes at a time when ministers and some corporates have suggested developers, especially those […]
The COVID-19 era presents a radically transformed real estate market, with preferences changing to accommodate new market realities. With work-from-home a viable option even after the lockdown, many future homebuyers will shift to the peripheral areas for bigger homes and a better lifestyle – at more affordable prices, say reports. With the rise of Work-From-Home […]
