News

HC orders CBI probe into illegal construction of commercial complex in Gurugram

In a significant verdict, the Punjab and Haryana High Court has quashed Haryana government’s orders vide which the government in 2001 “illegally” permitted construction of commercial complex in Gurgaon on a land reserved for residential society. The matter pertains to the construction raised in approximately 18.98 acres of land right adjacent to the Delhi-Jaipur National Highway, in Gurgaon, […]

Covid-19 pushes net leasing of office space down 73% in April-June across 8 Indian cities

Net leasing of office space plunged 73.4 per cent in the April-June period across eight major cities due to sharp fall in demand because of the Covid-19 pandemic, according to Cushman & Wakefield. Net absorption of office space stood at 37.15 lakh sq ft during April-June 2020 as against 139.85 lakh sq ft in the […]

Builders in Gurugram want lifts, stairs excluded from FAR

GURUGRAM: A group of developers and plot owners from the city has sought relaxations in the way floor area ratio (FAR) is calculated. On Friday, the builders met the director of the department of town and country planning, KM Pandurang, and proposed that lifts and staircases are not included in the FAR. They told the […]

Realty on Recovery path; homebuyers’ searches at pre-Covid levels: Magicbricks’ Q2 Propindex

Following the Covid19 outbreak and the national lockdown, the realty sector has started witnessing some green shoots as homebuyers are back in the market across tier-1 cities, though in lower numbers, showed Magicbricks’ Propindex April-June report. The report suggests the market sentiments are changing as shown by the buyer searches on Magicbrick’s property portal. Property […]

Nearly 50% of unsold residential inventory faces high execution risk

Nearly 50% of unsold housing inventory across India is facing the risk of being delayed or is susceptible to price correction. More than the risk price correction; the risk of default in execution poses a bigger challenge for Indian real estate, showed a stress test conducted by Liases Foras Real Estate Rating & Research. Around […]

NCR based realtor, Migsun, records residential sales of over Rs 252 crores in the first 69 days of Lockdown

New Delhi: Migsun, the NCR based real estate player has announced a whopping sale of over 500 units valued over Rs 252 Crores, during the lockdown period between March 25th and 3rd June. The units accounted for a total saleable area of 7 Lakh sq. ft., which the Company has booked at an average price […]

Housing sales down 67% in Apr-Jun in 9 cities due to Covid-19: Report

Housing sales fell 67 per cent at 21,294 units across nine major cities during April-June due to outbreak of the coronavirus pandemic and nationwide lockdown, according to data analytics firm PropEquity. Recently, property consultant Anarock had released its data that showed an estimated 81 per cent fall in sales at 12,740 units across seven cities […]

Covid-19 pushes net leasing of office space down 73% in April-June across 8 Indian cities

Net leasing of office space plunged 73.4 per cent in the April-June period across eight major cities due to sharp fall in demand because of the Covid-19 pandemic, according to Cushman & Wakefield. Net absorption of office space stood at 37.15 lakh sq ft during April-June 2020 as against 139.85 lakh sq ft in the […]

Environment ministry panel recommends clearance for DDA housing project

NEW DELHI: An environment ministry panel has recommended clearance for a Rs 56-crore housing project of the Delhi Development Authority. The project, which will construct two 33.7-metre-high towers each with a total of 102 flats in Sector B, Vasant Kunj in south Delhi, got the nod of the ministry-constituted Expert Appraisal Committee (EAC) last month. […]

Affordable housing demand may be back to normal by Dec-Jan: DS Tripathi, CEO, Aadhar HF

NEW DELHI: Aadhar Housing Finance is hopeful of the affordable housing market getting back to normal levels by January 2021 as demand is reviving for small-ticket loans, the company’s top executive said. The firm, which caters to the home financing needs of the low-income segment, did very well during the last fiscal except for March-end […]

Credai against Centre plan to ‘reduce rates’, demand sops

The Confederation of Real Estate Developers Association of India (Credai) has opposed the Union commerce and industry minister Piyush Goyal proposal to reduce the rates of unsold inventory. Further, the body has demanded sops from the central government to help boost the real estate sector. Credai vice-president Shantilal Kataria told TOI that they sent a […]

Realty firm Sobha’s Q1 Sales Bookings Down 37% Due to Lockdown

Realty firm Sobha Ltd’s sales bookings fell 37 percent during April-June quarter to Rs 487.7 crore due to the nationwide lockdown to control the Covid-19 pandemic. Its sales bookings stood at Rs 777.7 crore in the year-ago period. In the previous quarter, bookings were down 30 per cent from Rs 694.5 crore. “During the quarter, […]

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