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Consumer forum orders BMC to make one free parking mandatory

Municipal corporation asked to amend development rules so that builders fall in line. The State Consumer Disputes Redressal Commission (SCDRC) has directed the BMC to make it mandatory for builders to provide a car park with each apartment sold without any additional charge. The Commission has asked the BMC to modify its ...
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Average apartment sizes in top seven Indian cities decline 17% in five years

India’s top 7 cities have collectively witnessed average apartment sizes shrink by nearly 17% between 2014 and 2018. Among the top cities, Mumbai Metropolitan Region (MMR) has led the list with a 27% average decrease in apartment sizes to 700 sq ft in 2018 from 960 sq ft in 2014, ...
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Over three lakh PMAY houses constructed using new technologies

The Building Materials and Technology Promotion Council (BMTC) under the Ministry of Housing and Urban Affairs (MoHUA) has been promoting innovative housing technologies for affordable housing. Nearly 16 lakh houses have been constructed under the Pradhan Mantri Awas Yojana (PMAY-Urban) as on Feb 25, 2019. Of the total houses constructed, 20% have ...
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Realty loans worth $15 billion under stress

Builders have been under pressure over the last few years as sluggish sales have impacted their cash flow, leading to an overhang of inventory and subsequent inability to service loans. Loans worth $10-15 billion, or 15-20% of the total advances of about $70 billion, made to the real estate sector ...
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Mumbai: For buildings in CRZ areas, wait for extra FSI just got longer

MUMBAI: Residents of buildings along the coast will have to wait a little longer before they can exploit the construction benefits under Development Plan-2034. Last December, the Centre approved the Coastal Regulation Zone Notification-2018 which delinked floor space index (FSI) from coastal regulation zone (CRZ) norms. This came as a ...
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Size of real estate market to grow to USD 650 billion by 2040: Niti Aayog

The Centre has offered a lot of tax incentives to developers building affordable houses and also tax sops to homebuyers looking to purchase second homes. NEW DELHI: Indian real estate market is expected to jump over fivefold to USD 650 billion by 2040 and its share in the country's gross domestic ...
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Over 60 lakh land records in easy reach as Delhi Archives portal goes live

Deputy Chief Minister Manish Sisodia on Wednesday launched a web portal of Delhi Archives of the Delhi government having centuries-old land records. NEW DELHI: Deputy Chief Minister Mr. Manish Sisodia on Wednesday launched a web portal of Delhi Archives of the Delhi government having centuries-old land records. "To date, more than 1.60 crore of records ...
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Why Real Estate Sector Suffers due to Elections? Let’s find out

At a time when India’s real estate sector is yet to find its feet under a new tax (GST) and legal (RERA) regime, the liquidity squeeze in the non-banking financial sector has morphed into a liquidity crunch for the real estate industry, which had turned to NBFCs  for support after ...
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GST

Government Declares No GST On Sale Of Properties With Complete Certificate!

On Saturday the government announced a real estate policy that is sure to bring relief for many, the policy was announced in New Delhi which says, buyers of real estate properties will not have to pay Goods and Services Tax "G.S.T"  if they purchase the fully constructed property after the issue ...
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Real estate

Real Estate firms continue to depend on their Commercial Portfolio

With limited funding to the real estate sector from banks and given the current pressure on liquidity for NBFCs, only developers with a portfolio of commercial assets have been able to manage their liquidity for residential projects and are expected to continue to do so, as per a report by ...
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