NEW DELHI: Till date, 23 states’ Real Estate Regualtory Authroity (RERA) have extended registration of projects by six months and one by nine months in view of the situation created by COVID-19, said Durga Shanker Mishra, Secretary, Ministry of Housing and Urban Affairs. As advised by the ministry, this has been done ‘suo moto’ to […]
The Covid-19 pandemic is expected to speed up consolidation in the real estate sector. Cash-starved developers have started turning to financially-sound builders to take over stuck projects, with stressed developers also increasingly forming joint ventures, monetising land and extending development management contracts across major cities. In some recent transactions, Shriram Properties has entered into a […]
Residential real estate sales across India are expected to decline 20-25% in the current year as prospective homebuyers are likely to defer their purchases owing to the Covid19 led economic sentiments and job security concerns. The resultant pressure on developers to sell may trigger a 5-10% price reduction across segments, said property consultant Cushman & […]
NEW DELHI: The Haryana government is yet to finalise rules to enforce the Real Estate Regulatory Authority (RERA) Act in the state but projects have already started enrolling under the new legislation. Among the major ones to be registered are a project of M3M and two projects of Signature Global, executive director of Haryana RERA […]
MUMBAI: The Reserve Bank on Wednesday proposed to double the minimum net owned fund (NOF) requirement for housing finance companies to Rs 20 crore and classification of such firms under its draft framework for these companies. The step is aimed at strengthening the capital base mainly of small housing finance companies (HFC), the RBI said […]
NEW DELHI: As NBCC faces a cash crunch in completing the construction of Amrapali’s unfinished housing projects, the Supreme Court on Wednesday asked SBI Capital, which manages the Centre’s real estate stress fund, to relax the norms for releasing funds for the projects. The bench said it is the court which has taken on the […]
commercial real estate Commercial real estate is considered a more lucrative and reliable investment than residential property. But the work-from-home culture sweeping across the corporate sector could change that. “With so many people working from home, large companies are discovering that they don’t need so much office space,” says Anil Primlani, CEO of real estate […]
New Delhi: Realty firm Sobha Ltd has tied up with another realtor Chintels India to develop a group housing project comprising 1,700 flats in Gurgaon at an estimated cost of Rs 1,000 crore. The 39-acre project, which is expected to be launched by end of next month, would be developed in phases over the next […]
NEW DELHI: The Gurugram Metropolitan Development Authority (GMDA) has approved 25 projects for immediately restarting construction activity, with strict instructions to the builders to maintain social distancing norms during work. Developers are free to start construction at 45 sites after approval and sites with less than 10 workers need not take any approval to restart […]
The All India Forum of Real Estate Regulatory Authorities (AIFORERA) is planning to approach the Reserve Bank of India (RBI) to request for an one-time loan restructuring for the real estate sector, taking a cue from a similar aid extended to the micro, small and medium enterprises segment by the central bank. The two leading […]
NEW DELHI: Real estate developers must lower home prices to clear unsold inventories so that buyers can get places to live at affordable prices, new CII President Uday Kotak said on Thursday. During his first press conference as the new head of Confederation of Indian Industry (CII), Kotak said he is in agreement with Commerce […]
NEW DELHI: Indiabulls Housing Finance Limited on Friday said it has raised Rs 200 crore by issuing securities to two large public sector banks on private placement basis. “The company has today, June 12, 2020, allotted 2,000 secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (NCDs) aggregating to Rs 200 crore, on […]
