Real Estate Blogs

Half of residential projects hang fire

Projects moving at a snail’s pace are breeding anxiety among home buyers in the Mumbai Metropolitan Region (MMR), with Mumbai, Navi Mumbai and extended suburbs of central and western Mumbai reporting more than 50% of under-construction residential developments.

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FM for lower real estate prices- a case for a real estate regulator

Finance Minister P Chidambaram has joined the lines of the common man in demanding lower real estate prices. But that’s where the similarity ends - while a common man haggles with the builder, the FM has asked banks to put pressure on real estate developers to lower property prices.

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Good News for Noida Extension: NCR Planning Board approves Master Plan for Greater Noida

n good news for flat buyers in Noida Extension, the National Capital Region Planning Board today gave its approval to the Draft Master Plan for Greater Noida-2021.

"All the members of the NCR Planning Board and the Chief Ministers of the member-states have signed the approval," Naini Jayaseelan, Member-Secretary NCRPB told PTI. The National Capital Region Planning Board has Delhi, Uttar Pradesh, Haryana, Rajasthan as its member-states.

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Grahak Panchayat for stricter punishment for erring builders

Dropping provisions in the Maharashtra Housing Bill, 2012, that entail stern punishment for erring builders and developers has come in for sharp criticism from consumer bodies in the city. The bill is currently with the Governor of Maharashtra after it was passed by the state legislature.

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Indian Realtors Sniff Gains in Rupee Low

India’s real estate developers are trying to turn bad news for the rupee into good news for themselves. These developers have long targeted the non-resident Indians or NRIs, who are often tempted to buy property in their country of origin, whether it’s for emotional reasons or family ties.

Lately, however, Indian developers have been working on a new marketing pitch: buy now to benefit from the rupee’s decline.

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P Chidambaram asks banks to put pressure on real estate developers to lower property prices

P Chidambaram, the newly-appointed finance minister, has asked chiefs of government-owned banks to put pressure on real estate developers to lower property prices in order to get the economy moving.

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Tata Realty to invest over Rs 1700 crore in next 2-3 years

Tata Realty and Infrastructure Ltd (TRIL) proposes to invest over Rs 1700 crore in two to three years for various projects in the country, including Rs 550 crore in Kochi for a premium waterfront residential property, 'Tritvam', at Marine Drive.

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Amid rising costs, realty firms spend less

Real estate firms claim rising input costs have hit them hard. However, this doesn’t reflect in their expenditure. In the results for the quarter ended June, realty companies recorded a significant drop in employee expenses, cost of construction and materials consumed, etc. Much of this can be attributed to the slowdown in construction.

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Govt asks bankers to form committee to advise it on housing

Finance Minister P Chidambaram on Saturday said he has asked Indian Bankers Association (IBA) to form a committee to advise the government on tackling the slowdown in the housing demand.

He listed various issues facing the real estate sector but expressed confidence that these can be solved.

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Bengal to build 33,000 homes for poor

West Bengal Urban Development Minister Firhad (Bobby) Hakim said on Saturday that “large buildings” were being viewed as a parameter for infrastructure and industrial development of a State.

Speaking at the inauguration of Home Front 2012 – a real estate expo, Hakim said: “People coming from outside will judge the level of industrialisation and development of a State through such large multi-storeyed buildings.”

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