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09 March 2016

Ghaziabad gears up for second phase of smart city mission

GMC (Ghaziabad Municipal Corporation) is gearing up for necessary preparations in an effort to slot the city into second phase of smart city mission. The proposal for selection in the smart city program was earlier sent to the Union urban development ministry, but the city could not figure in the...

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05 March 2016

Noida Authority made green norms mandatory in tender documents

In an apparent move to safeguard environment and curb pollution menace in the city, the Noida Authority has reportedly come up with a new ‘green’ clause in the tender documents for the contractors, builders and developers. According to the clause, strict punitive actions will be taken against contractors violating the...

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04 March 2016

Report says tenancy in Mumbai for bachelors a fat chance

You may be the most eligible bachelor in your home town, but Mumbai is tough land for tenants like you! Yes, the moment you land in India’s financial capital, your tenancy, in all likelihood, may land in trouble if you are a bachelor. The report from ET Realty is running...

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03 March 2016

Budget 2016: Housing sector in the forefront of development

Budget 2016, which Finance Minister Arun Jaitley presented in Lok Sabha on 29th February 2016, has received howl of appreciation from Union Minister Venkaiah Naidu, calling it favorable for housing and construction sector of the nation. He said announcements in the budget such as tax rebates and reliefs, optimization and...

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29 February 2016

Budget 2016: Additional rebate of Rs 50000 for first time home buyers

Finance Minister Arun Jaitley has introduced an additional rebate of Rs 50000 in his third Budget for 2016, and with that he has elated first time home buyers, as they will avail the proposed deduction over the loan up to Rs 35 lakh against the property costing less than Rs...

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27 February 2016

Modi government eyes on passage of real estate bill in the parliament’s budget session

The urgency of Real Estate (Development and Regulation) Bill can be understood by the fact that Narendra Modi led government in Centre is laying full-fledged emphasize on its passage in the current budget session of parliament, along with government’s highly ambitious Goods and Service Tax (GST) Bill. To the source,...

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26 February 2016

Real estate bill likely to get parliamentary nod, said Naidu

According to Urban Development Minister Venkaiah Naidu, the real estate regulatory bill facing pendency for approval, and which was not given parliamentary consent last year, will get the approval in the ongoing budget session of the parliament. He said the passage of realty bill in the ongoing budget session of...

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24 February 2016

Registration charges for Noida flats get costlier by 2%, buyers to feel the brunt

In what appears to be a double-whammy for home buyers in Noida, the department of Uttar Pradesh stamps and registration has decided to increase the registration charges for the flats in Noida by 7% from the prevailing  rate of 5%. The impending hike of registry charges will impact buyers financially, considering...

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23 February 2016

Work on smart city projects by June 25 : Naidu

Union Urban Development Minister M Venkaiah Naidu asked the winner of first 20 chosen smart cities to start working on the projects by June 25, and also directed them not to misuse the funds allotted for the smart city projects. Taking a dig on critiques condemning Modi-led NDA government for...

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22 February 2016

Consumer Redressal Commission gave relief to homebuyers

It is a big relief to 132 home buyers in Pune. The National Consumer Disputes Redressal Commission (NCDRC) in New Delhi has directed builders to give customers the benefits of cost escalation rather than merely refunding booking amount without interest or compensation, considering the flats for which the buyers paid...

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20 February 2016

USGBC reports 20% of growth in green building in India by 2018

The contributory factors like environmental norms and demand surge will spell growth uptick of 20% in green building industry in India by the year 2018, revealed by US Green Building Council (USGBC) in Dodge Data & Analytics World Green Building Trends 2018 SmartMarket Report. In its report, the USGBC revealed...

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19 February 2016

Lok Adalats to settle realty grievances of buyers

In a move likely to give respite to people fed up with delayed housing projects, the Indian government has introduced Lok Adalats for faster redressal of grievances like project delays, admission refusal in institutions on groundless reasons etc. As reported, the Lok Adalats emerge to be a quality alternative to...

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18 February 2016

Govt tweaked land acquisition norms for Noida, Gr-Noida and Yamuna E-way

Uttar Pradesh government has reportedly approved the proposal for changing the land acquisition laws in the areas of Noida, Greater Noida and YEIDA (Yamuna Expressway Industrial Development Authority). The sanctioning of the proposal by UP cabinet will now grant authorities of these areas the official power to buy lands directly...

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17 February 2016

Owner of multiple properties not a consumer, ruled the bench

The definition of being ‘consumer’ under Indian CP Act 1986 is not applicable on people (NRI or Indians) who are the owners of more than one properties held for commercial purpose. That said, multiple property owners can no longer be considered a ‘consumer’ as per the definition of CONSUMER PROTECTION...

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16 February 2016

Silver lining for realty as sales in affordable flats picked surge

Real estate sector of India may be stuck in extended downturn, but the experts still pin hope for its revival and believe that it will soon come around in pink of health. According to the data released by Liases Foras, affordable homes showed sign of rise in their sales volumes...

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15 February 2016

Companies prefer commercial business districts despite higher rentals

Call it ease of doing business mingled with safety and standard lifestyle, many business establishments are reportedly preferring Commercial Business Districts (CBDs), but are reluctant to lease offices in peripheral areas of Noida and Gurgaon. The reason is, these peripheral areas do not have basic amenities and reliable government infrastructure....

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13 February 2016

IGBC grants green clearance to 5000 flats of YEIDA

The Indian Green Building Council (IGBC) has reportedly granted green certifications to 5000 multi-storey residential flats of Yamuna Expressway Industrial Development Authority (YEIDA). As reported, the projected residential flats will be budget-conducive for middle and low income groups. These environment-friendly homes located in sector-22D of YEIDA area will preserve natural...

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12 February 2016

Buyers to launch protest over delayed completion certificates of Noida projects

The delayed completion certificates are driving home buyers of Noida extension into the state of depression, and they are reportedly mulling to stage another protest aiming to seek clarifications from Noida authority on the issue. According to the buyers’ association, explanation will be sought from Noida authority to know the...

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11 February 2016

Buyers can’t avail 85% tax rebate on home loans if possession delays beyond 3-yrs

First there is this extended delay of home and now the sickening fear of losing 85% tax rebates upon possession delays, it seems there is no ending of mental harassment for ill-fated buyers in India. According to the source, buyers can not avail 85% of the tax benefit on their...

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09 February 2016

Budget 2016: Realty stakes hopes for Industry Status and Single Window Clearance

The real estate sector can’t stay in denial of ‘industry status’ and ‘single window clearance’, for both of them emerge as the most pressing needs to propel growth trajectory of this sector which is suffering from cash crunch, muted sentiments and prolonged slowdowns. The real estate industry of India is...

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06 February 2016

Noida Authority to revoke lease deeds of the vacant plots lacking proper care

If you hold a vacant plot in Noida and do not maintain upkeep for the same, then your property’s lease deeds may be revoked and you will lose possession thereof, according to the public notice issued by Noida Authority. The public notice, which the authority asserts to be the final...

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05 February 2016

‘No discrimination in smart city selection, even my own town is not there’ – Naidu

Responding to the allegation for discriminating states in the selection of the first 20 smart cities, Urban Development Minister Venkaiah Naidu came in defense of the NDA government, saying it had no hands in selection of the cities in the List of First 20 Smart Cities. Naidu said his own...

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04 February 2016

Haryana: State Govt Implements ‘Deen Dayal Jan Awas Yojana’

Deen Dayal Jan Awas Yojana, the flagship housing scheme of Haryana government dedicated to building High Density Plotted colonies in low and medium potential towns in the state has got its official nod from Chief Minister Mr. Manohar Lal Khattar in a cabinet meeting chaired by the CM. In addition...

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03 February 2016

Unhappy by RBI move, CREDAI demands home loan rates to be lower by 9%

The RBI’s decision to keep its repo rate unchanged at 6.75% basis points bore resemblance of no cheer for CREDAI, the apex body of real estate developers. It has voiced its displeasure over RBI’s move, saying it will not serve the desirable need for cheaper home loans, a crucial factor...

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02 February 2016

RBI – Repo rate stays same at 6.75 per cent

In contrast to the expectations that RBI’s repo rate will be softened much to the relief of benign inflation, weak economy, and of course real estate sector, the Reserve Bank of India (RBI), on the other hand, has decided to keep it on hold at 6.75%. In another words, no...

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02 February 2016

Noida Authority fined 50,000 each to 11 builders for violating green norms

Eleven builders in Noida were fined Rs 50,000 each by the city authority in defiance of construction norms laid down by National Green Tribunal (NGT). The builders experienced this ‘slap on the wrist’ situation after authority found them flouting the construction rules and were also given warning for strict action if...

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01 February 2016

Software company signs India’s largest office space deal

Mumbai’s Thane city witnessed conclusion of India’s largest office space deal taken place between software service magnet Tata Consultancy Services and realty player Hiranandani Estate. In the deal, TCS took 19 lakh square feet office space on lease at the annual rental cost of whopping Rs 130 crore from Hiranandani Estate....

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30 January 2016

Gurgaon most preferred investment hub in NCR: Survey

India’s ‘Millennium City’, Gurgaon needs no introduction as a ‘megacity’ for property enthusiasts, and recent report justifies that the city’s credit holds its relevancy by all counts. As revealed in a survey conducted by industry body PHDCCI, Gurgaon has emerged to be NCR’s most preferable hub for real estate investors,...

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29 January 2016

Amritsar: Hotel industry on growth surge amidst slowdown

Amritsar, a spiritual city of India, may have certain sectors facing realty slowdown, but city’s hotel industry is making a big bang of growth, says reports. The report also lays claim that the growth surge in hospitality industry draws positive sign for real estate market of the city. Amritsar is...

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29 January 2016

Smart City List: Govt draws flak for eluding UP, Bihar

The Centre drew howl of criticism from Congress Party, condemning the NDA-led government for eluding UP and Bihar from the List Of 20 Smart Cities released by the Centre on January 28. The Congress Party made beeline for dubbing the incident as ‘political vendetta’ of Centre, throwing tantrum that Modi-led...

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28 January 2016

Pune, Jaipur, Surat, Kochi and Ludhiana among first 20 ‘Smart Cities’ slot

In a much anticipated move, the central government of India today has announced the list of first 20 ‘Smart Cities’, the ambitious project initiated by Prime Minister Narendra Modi.             List of first 20 Smart Cities:        City State 1. Bhubaneswar Odisha 2....

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27 January 2016

Samajwadi Awas Yojana: Govt plans to build 3 lakh affordable homes

Uttar Pradesh government has launched an affordable housing scheme dedicated to people from Economically Weaker Section (EWS) and Lower Income Group (LIG) categories. The housing scheme is the part of government’s flagship, Samajwadi Awas Yojana, which will offer 2,000 affordable EWS and LIG flats. The scheme was rolled out in Noida...

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25 January 2016

Builder was penalized Rs 20k/month for delaying handover of flats to buyers

Parsvnath Developers was asked to pay a monthly penalty of Rs 20,000 for its failure to provide buyers the handover of flats in Parsvnath Planet, a residential project located at Gomti Nagar in Lucknow. The penalty was slapped by National Consumer Disputes Redressal Commission (NCDRC) in response to the complaints...

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25 January 2016

Indian realty market a profitable place for investors: Anuj Puri

Anuj Puri, Chairman & Country Head of JLL India (previously known as Jones Lang LaSalle) spoke to Business Insider about the prospectus of growth in Indian real estate sector. He voiced pleasure in explaining the country’s realty market and its sizable growth potentiality, saying it is a profitable destination for...

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23 January 2016

Tougher green laws for realty, hefty penalty for violators

The Centre government is to bring about tougher environmental laws for construction industry as revealed in its notification to the Supreme Court. According to the laws, builders constructing housing projects without green clearance will have to serve strict penalty against violation of the norms. In other words, builders will be...

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22 January 2016

Real estate to witness growth comeback in 2016, claims report

According to JLL India and Royal Institute of Chartered Surveyors (RICS), Indian real estate market anticipates growth comeback in the year 2016 because of the expected surge in sales volume of inventory in the next 12 months. More than 70% investors optimistically assume real estate market to have the steady...

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21 January 2016

Experts hail regulatory bill a ‘game changer’ for real estate

The real estate experts are very much hopeful about real estate regulatory bill and its passage in parliament’s first half of the budget session. They hail it a ‘game changer’ for the sector’s growth, considering the bill will bring transparency and accountability in the realty market. The impact of the bill...

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20 January 2016

Prices of property in Delhi-NCR dropped by 1%, says report

Property prices of Delhi-NCR realty market has reportedly plunged by one percent for the period of October-December in comparison to the preceding quarter when supply was at its peak. As analyzed, cities like Noida-Greater Noida and Delhi have witnessed the price-fall in their capital values close to one percent, whereas...

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19 January 2016

Will have real estate bill passed in budget session: Naidu

Exhibiting an aura of confidence, Parliamentary Affairs and Housing Minister, M Venkaiah Naidu, minced no words in putting across NDA government’s decision to put forward real estate bill in parliament’s first half of the budget session, and its passage. He said government is confident that the bill qualifies for obtaining...

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18 January 2016

Affordable housing will revive real estate slump, says minister

India’s real estate sector, which is marred by deep recession today, requires affordable homes for the sector’s much-awaited revival it’s been seeking for years, said public works minister Mr. Eknath Shinde at a function where he inaugurated a three day real estate exhibition in Mumbai’s Thane city. Bringing sustainable revival...

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16 January 2016

Mumbai: New rent law may cost tenancy, says experts

As alleged, the central government’s first opening gambit after enactment of the draft Model Rent Control Act would be to put burdens on crores of tenants across India. They may risk early eviction notice from landlords, as ‘to be modified’ tenancy law will invariably cast impacts on rent control and...

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14 January 2016

Government plans to develop 300 smart villages with high-end facilities

Hailing praise for Modi government’s onerous efforts for ensuring widespread development in the country, Union home minister Rajnath Singh, in the meeting of BJP kisan morcha held in Greater Noida, talked about the projected development of 300 smart villages encompassing world-class facilities; ranging from digital connectivity, modern irrigation technology to basic...

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13 January 2016

“Can I bring my 12 cats?” – Dubai real estate agents get funny queries from clients

If the sun rises this side, where will it set? Will landlord allow me to bring my 12 cats?    Unusual and funny queries from clients keep flooring real estate agents in Dubai. The agents in Dubai are on the line of receiving these questions from people at the time...

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13 January 2016

Unitech case a lesson for builders to keep promises

The realty sector’s visible and prolonged downturn can be said to contribute a long-term impact of growthless stagnancy in the sector. While auxiliary factors, including expensive lending rates can be the bedrock behind the conceivable slowdown in realty sector, builders’ not delivering projects on time accounts for another potent reason...

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12 January 2016

Chandigarh gears up for warm welcome to Francois Hollande

Chandigarh, a city of world-class architecture and design hailed with respect across the world, is all set to roll out a red carpet welcome to French President Mr. Francois Hollande. The President is visiting India as the chief guest of Republic Day’s parade to be held in New Delhi on...

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11 January 2016

Will cancel lease agreements if green norms violated: N P Singh

According to Gautam Budh Nagar’s district magistrate N P Singh, if builders violate 17 green norms laid down by National Green Tribunal while leasing land in Noida, Greater Noida and Yamuna Expressway, their lease agreements will be cancelled. They must follow the environmental laws as part of the pollution-control measure...

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09 January 2016

Quikr and CommonFloor merge into win-win synergy

The web-based classifieds firm, Quikr, has officially announced its merger with online property portal, CommonFloor, thus adding another feather to its real estate vertical, QuikrHomes launched four months ago. The move is believed to be strategic as the merger will enable Quikr’s realty vertical to effectively leverage domain expertise and structured...

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07 January 2016

Aluminium Formwork technology to accelerate growth for realty, says experts

Aluminium Formwork technology, a well-known versatile construction technology, is considered to be the growth accelerator for real estate sector in India. The salient feature of the technology is that it can construct a 20-storey building within the period of six months. The technology has been imported from Taiwan by a...

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06 January 2016

End-users will be the growth driver for realty in 2016: Report

The end-users or fence-sitters will be the growth driver of Indian real estate in 2016. Though the New Year promises hope of positive uptick, but it largely depends on the way the fence-sitters respond to the realty’s growth-centric initiatives. In this context, the developers have to roll out attractive schemes...

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05 January 2016

India’s first integrated Marina project to be launched at Howrah

For the first time in India, Marina Grand, an urban yacht project, is likely to be launched at Howrah, on the bank of the Hooghly river. The integrated marina project will fall in close proximity to the main city Centre of Kolkata. The launch of the project will take place...

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04 January 2016

With economy growth and office space buyout, realty to revive in new year

Indian real estate sector will witness growth transition in 2016, as believed by experts in view of economy revival of the country and other allied factors indicating positive performance of the sector in the past year. Economy revival lays the strong bedrock for tangible growth in the realty sector in...

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02 January 2016

PM Modi heaps praise on NH-24, calls it ‘highway of development’

Unveiling the plague that marked the foundation stone for much-anticipated Delhi-Dasna-Meerut 14-lane expressway, Prime Minister Narendra Modi has heaped praise on NH-24 by calling it a ‘highway of development” for Uttar Pradesh. He said NH-24 stretch will provide curative solution to the state’s reducing pollution level, and will promote weekend...

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30 December 2015

PM Modi to lay foundation for Delhi-Meerut Expressway project

Prime Minister Narendra Modi will lay the foundation stone for the much anticipated Delhi-Meerut Expressway project on December 31, 2015. Considering the heavy gridlock in the country’s capital, the ambitious infrastructure project will streamline the traffic congestion to a very substantial scale, said the report. According to Road Transport and...

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30 December 2015

Real estate likely to be on growth trajectory in 2016

With year 2015 standing at the doorstep of new year 2016, the market is rife with the speculation, whether the real estate sector that dealt with strong headwinds in the current year will encounter the same in the coming year, too. In the current year, the market witnessed the lost...

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29 December 2015

Indira Awaas Yojana to be renamed as Pradhan Mantri Awas Yojana

In what appears to be another cornerstone move for accelerating the pace of housing development, the BJP-led Central government has decided to rename Indira Awaas Yojana as Pradhan Mantri Awas Yojana. This is an ambitious housing scheme initiated by the government for the rural poor. The name-change signifies overhauling of...

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28 December 2015

DDA to sell 10,000 flats returned by allottees

An estimated number of 10,000 DDA flats, most of them are one-bedroom units, will likely to be available in 2016, according to DDA officials. The flats allotted under housing scheme 2014 were returned or surrendered by the allottees, citing that the rooms were too small. Now the authority plans to...

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26 December 2015

Patna Metro Rail project gets approval from CM Nitish Kumar

The much-anticipated Patna Metro Rail project has got official approval from CM Nitish Kumar, who has also directed officials to send the Detailed Project Report (DPR) concerning the project to the Central government for final approval. The CM’s approval came in light of the meeting held for the purpose of...

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24 December 2015

Cheers for land owners. HC rules registration of property below the circle rate

Now land owners in Delhi can register their properties below the local circle rate, as per the verdict of the High Court. The Delhi High Court has granted legal permission for the registration of properties below the local circle rate. The verdict is considered landmark given the implied benefit it...

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22 December 2015

Realty bill fell flat in Rajya Sabha, to be postponed for next year

All the expectations for the passage of the much-anticipated real estate bill in the ongoing winter session of the parliament are ending up in vain due to the repeated opposition and disruptions in the Rajya Sabha. As a result, the government was forced to postpone the amended bill for the next...

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21 December 2015

Smart City an opportunity to develop Dehradun: Harish Rawat

Downplaying the objections raised by environmentalists and various bodies, Uttarakhand Chief Minister Harish Rawat has made it clear that the state government can’t afford losing the opportunity coming from Smart City program for developing Dehradun. To leverage on the opportunity, the government will sanction development of smart city on the...

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19 December 2015

Clarion call for Modi to grant special housing scheme for the flood-hit Chennai

Tamil Nadu Chief Minister J Jayalalithaa made a clarion appeal to Prime Minister Narendra Modi to permit special housing scheme for the resettlement of people in the rain-ravaged areas of Chennai. The purported housing scheme comprising 50,000 houses to cost nearly 5,000 crore is the part of the rehabilitation mission...

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18 December 2015

Double taxation in realty may be lifted out

According to Labor Minister Bandaru Dattatreya, existing double taxation on real estate developers may be lifted out after parliamentarian consideration on the same. He said this while addressing a conference organized by CREDAI. Dattatreya said that NDA government will take the matter of scrapping double taxation into consideration. Builders at present...

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18 December 2015

Buyers permission mandatory to change Floor Area Ratio: High Court

In what appears to be a case of legal warning for Noida builders, the honorable Allahabad High Court has issued a notice to Noida Authority, disallowing builders from making any changes in FAR (Floor Area Ratio) without the approval of buyers. Thus, no changes will be made in the original...

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17 December 2015

Banks may grant home loans by Rs. 1 crore for maximum tenure of 30 years

Now money can’t be a problem for buying a dream home. As reported, top financial lenders in India have made beeline for offering home loans up to Rs 1 crore for the maximum tenure of 30 years. The unprecedented step attempts to accelerate purchase of high-end homes, which are facing...

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16 December 2015

Real estate bill to revive buyers sentiments

With the central government leaving no stone unturned to ensure passage of real estate regulatory bill in the Parliament’s winter session, realty experts optimistically predict that the confidence of buyers will revive because of the dramatic growth to happen in realty once the regulatory bill is passed. The Real Estate...

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15 December 2015

Cost of Yamuna Expressway property to jump by 20% from New Year

If you intend to buy a property along Yamuna Expressway in coming year, time to take a pause and think twice as the cost of the land around the location will burn a hole in your pocket. As reported, YEIDA (Yamuna Expressway Industrial Development Authority) passed a proposal, favoring an...

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14 December 2015

Smart buildings should focus on green conservation: Ravi Shankar Prasad

Laying emphasize on the importance of environmental safety, Communications and IT minister Ravi Shankar Prasad, asked builders and developers to focus on the green building concept, and take the same into smaller towns and metros. He said multi-storeyed buildings do not reflect sense of smartness in entirety. Hence, the focus...

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14 December 2015

Canadian companies to figure out investment scope in urban India

Foreign investment is likely to pour in several urban projects rolled out by government over the past one year. As reported, a delegation of 18 Canada-based companies known for developing high-performance buildings have held broad discussion with Urban Development Minister M Venkaiah Naidu and senior ministry officials. To figure out...

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11 December 2015

Growth in realty stocks rose by 4 percent after real estate bill approval

The real estate inventories, as reported, have showed the sign of positive surge by nearly 4% in trade after Union Cabinet has approved to the real estate regulatory bill, 2015. As noted, the bill was approved after the cabinet had incorporated recommendations from parliament panels and by holding rounds of...

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10 December 2015

Cabinet approved real estate bill with 20 amendments, safety net for buyers, realty

The Select Committee of Rajya Sabha has granted approval for Real Estate (Regulation and Development) Bill, 2015, though with 20 amendments, aiming to safeguard buyer’s interest and to induce transparency and growth in real estate industry. Now the Parliament will exercise its prerogative regarding consideration and passing of the bill...

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09 December 2015

Hyderabad, Ahmedabad more affordable cities than Mumbai, Delhi-NCR – Report

Buying and renting a flat in Mumbai and Delhi-NCR is not as economical option as you may have thought of, according to the recent report by ArthaYantra, the financial life management advisory firm. In its report, the firm revealed that cities like Hyderabad and Ahmedabad pose to be the most...

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09 December 2015

Delhi: 38 projects penalized in defiance with pollution norms

Some 38 noted projects in Delhi, including the under-construction Parliament House annex building and a faction of Supreme Court, were asked to deposit compensatory amount of Rs 50,000 in violation of the norms regarding dust pollution. A government official said, the legal fining termed as ‘environmental compensation’ has been slapped...

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08 December 2015

Vastu compliant homes are top choice among buyers: Survey

In a survey conducted by a leading property portal, more than 90% buyers across eight cities fancy for buying homes constructed in compliance with Vastu. In other words, Vastu-compliant homes are climbing on popularity chart in these cities. The survey indicated growing inclination of four out of five buyers preferring homes...

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07 December 2015

Seventh Pay Commission to be the growth catalyst for realty

Finally the real estate sector has something to feel on cloud nine. And this happiness has been brought in the form of seventh pay commission recommendations to be implemented by Central government, which will boost the salary and pension scale of government employees and pensioners respectively. As a result, it will...

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05 December 2015

Chennai real estate plunged in deep loss due to horrific floods

The unprecedented floods and torrential rains in Chennai have wreaked havoc on city’s real estate, plunging it in deep loss, as the natural disaster has paralyzed the normal activity of businesses, and people from all walks of life. Chennai is terribly affected by the natural disaster, as the inundation caused by...

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04 December 2015

Festive seasons rocked sales of realty stocks, claims report

Sales of realty stocks took firm grip during festive seasons because of the discounts that builders offered in conjugation with the sales, claims report. The realty market witnessed boost in home sales in affordable segments, thus indicating sign of revival in realty market for the festive phase. The after-sale’s result...

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04 December 2015

Chennai natural disaster unmasks brute reality of construction planning, questions smart city program

The ‘100 Smart City’ mission, pioneered and spearheaded by the Prime Minister of India Narendra Modi, is most certainly the iconic, futuristic and brilliant housing project dedicated to the purpose of urbanizing India. However, existing issues, including those related to fixing old and accident-prone metropolises like Chennai, give a well-poised question...

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02 December 2015

Register flats or bear the penalty 10 times of the registry fees

In what appears to be a sign of warning note for the flat-owners of Noida, they were asked to register their property to avoid penalty 10 times of the registry cost. The warning notice came from the district administration, asking buyers to get their property registered to avoid heavy penalty,...

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01 December 2015

Sales of residential property in Mumbai rose by 28%

The sales of residential property in Mumbai have gone up by 28%, reported JLL India, the global real estate service firm. The report says, factors like apartment size in small configuration, discounted sales offer up to 10% and reducing interest rates have given rise to buyer’s sentiments, which consequently increased sales of properties in the...

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30 November 2015

Study indicates Housing For All to boost Indian economy by 3.5%

In what appears to be ache din for Indian economy and real estate, ‘Housing For All’, the mega project spearhead by Prime Minister Narendra Modi, will contribute economy boost by 3.5%  to India by the year 2022, reported India Ratings. This came in light of sectors such as cement, steel and iron...

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28 November 2015

Developers pick up easy payment schemes to woo buyers, says study

Though the prices of residential properties are likely to stay unchanged, yet top developers have decided to woo buyers by selling homes at easy payment schemes, revealed in the study by Fitch. As concluded, developers are in no mood to make changes in prices of residential properties. Hence, flexible payment plan...

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27 November 2015

PM Narendra Modi revived focus on real estate development – Cushman & Wakefield

In an exclusive interview with ET Realty, Stuart Roberts, CEO, Asia-Pacific, Cushman & Wakefield, talked about Prime Minister Narendra Modi, saying he brought the focus back on development issues, and so far has instilled the sense of optimism in the market. The real estate regulation and development bill proposed by...

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26 November 2015

HUDA Authority gears up to accelerate road project on Dwarka Expressway

In its attempt to keep abreast with the deadline for completion of the road project on Northern Peripheral Expressway (Dwarka expressway), the HUDA authority, Anshaj Singh, has inspected the infrastructure work currently going on from Choruma Village to Kherki Daula. In this context, the families of those affected by the project...

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26 November 2015

Affordable homes possible if construction approval is simplified, says Rohit Gera

According to Rohit Gera, the MD of Confederation of Real Estate Developers Association of India (CREDAI), Pune, there is likelihood of affordable housing coming to reality if the process for construction approval is made easy and simplified, and there is satisfactory supply of property when the demand for inventory revives...

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25 November 2015

To make Lucknow smart city, LMC calls on people to share ideas

LMC (Lucknow Municipal Corporation) has sought ideas from people and government officials for civic issues existing in the city. The purpose is to transition Lucknow into a smart city. People are requested to share their ideas through social media sites like Facebook and Twitter, or alternatively in the discussion forum...

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23 November 2015

Centre gears for parliamentary support on the ‘modified’ realty bill

Preparation to ensure that the ‘modified’ real estate bill is passed in the forthcoming winter session of the parliament is already in the process, as government in Centre is dead set for obtaining parliamentary support for the bill. The ‘modified’ version of the realty bill lays much focus on eradication...

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21 November 2015

Meerut, Rae Bareli no longer in smart city list

Akhilesh Yadav government decided to single out the names of Rae Bareli and Meerut from the smart city list. The decision came in the background of Centre government’s having not made its final stand on the same. The two towns will no longer be in the list of the cities to be developed...

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20 November 2015

Show cause notice to 11 Noida builders for 9000 unregistered flats

Action against 11 Noida developers will be taken by Gautam Budh Nagar district administration in relation with their unregistered 8,841 flats and 630 shops, including some marquee ones. The district magistrate N P Singh said builders still hold unregistered properties, in spite of the fact that, in some cases, the occupancy...

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19 November 2015

NGT slaps stay order on construction work near Tamhini wildlife sanctuary

In a judgment delivered by the Western Region Bench of the National Green Tribunal (NGT) in Pune, any construction work in the specified 10-km radius of Tamhini wildlife sanctuary and the area falling within the eco-sensitive zone will not be carried out. The restriction will remain in effect until pendency...

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19 November 2015

Officials held meeting to speed up Dwarka e-way road project

In a meeting comprising senior officials from DDA (Delhi Development Authority) and Haryana government that took place in Delhi past week, it was decided to speed up the remaining part of the land acquisition process concerning Dwarka Expressway (Northern Peripheral Road). Officials said the un-acquired land in the stretch of...

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18 November 2015

Cash–starved realty in for positive boost after govt relaxed FDI norms

The foreign direct investment (FDI) into Indian realty will no longer face restrictions as they were existed in the past. The reason is, NDA government has removed all the FDI norms in this context. However, the norm for three-year lock-in period, specifically for the particular projects, will remain in effect....

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16 November 2015

Authority to kickstart Infrastructure projects for connectivity with Sectors nearby Noida-Greater Noida expressway

The sectors built recently alongside Noida-Greater Noida Expressway will soon have improved connectivity with major destinations like Faridabad and Kalindi Kunj. To promote greenery will also be the focused consideration in this proposed infrastructure development drive, which is soon to be started off by Noida Authority, aiming to ensure better connectivity...

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14 November 2015

Bengaluru tops on chart as a real estate investment hub

Bengaluru has emerged as the top investment hub for real estate, beating down New Delhi and Mumbai – the political and commercial capitals of India. The Silicon Valley of India was given the 20th rank among top-20 investment hubs globally, consequently beating down New Delhi and Mumbai, which were ranked 34th...

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09 November 2015

Kolkata builders focus on projects in small size make for buyers on a tight budget

Builders in Kolkata are focusing on housing projects in small size configuration so that buyers on a tight budget can buy homes in the competitive real estate market of the city. The intended focus behind this is to build half rooms by reducing the size of the apartments so that...

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07 November 2015

Chennai – Public Mandate to Decide One of the Three Areas for Smart City Project

Three areas in Chennai – T Nagar, Sholinganallur and Mylapore have got into final round of selection for smart city project. They were selected by Corporation of Chennai under the Central government’s flagship ‘Smart City’ project, an ambitious vision of Prime Minister Narendra Modi dedicated to creating urban livability in...

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05 November 2015

Govt to bring single window clearance for urban projects by November 30 – Naidu

By November 30 this year, the government of India, as reported, will bring single window clearance system aiming to make approvals for urban projects faster and streamlined. It has been brought to revelation by Union minister M Venkaiah Naidu, that launch of ‘single window’ clearance mechanism will take place in...

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03 November 2015

Build Affordable Homes, We Will Make Your Business Hassle-Free – CM Tells Builders

Devendra Fadnavis, the Chief Minister of Maharashtra, has asked real estate developers in Mumbai to focus on constructing affordable homes, and not just consider building homes in premium segments. He assured builders that the state government is ready to work with them and will make their business hassle free, but...

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02 November 2015

Realty cannot afford its survival on subsidies – Arun Jaitley

Instilling the sense of hope that the days of market slowdown in realty will end soon, Indian Finance Minister Arun Jaitley has made the mention of realty industry, that it can’t afford its survival on subsidies or sops. He said this at CREDAI Bankcon in Mumbai. In the viewpoint of...

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31 October 2015

Government mulls for time-bound approvals for construction projects to avoid cost and harassment for builders

The government will roll out crucial notifications by November-end aiming to grant speedy approvals for the construction projects in cities and towns in the manner of time-bound and trouble-free clearances. This means developers seeking approvals for their construction projects will not have to submit their cases to Delhi to obtain...

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31 October 2015

Noida City Centre Metro station renamed as Wave City Center, Noida, semi-renaming of some stations soon

In a move aiming to generate revenue, the Delhi Metro Rail Corporation has renamed Noida City Centre Metro station and as reported, it will be known as ‘Wave City Center, Noida’ from now onward. Wave Infratech, a real estate firm based in Noida, was accredited for the naming rights of...

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22 October 2015

Development of 2000 homes in Ghaziabad under SAY housing scheme

Ghaziabad Development Authority (GDA) has sanctioned development of 2000 flats under Samajwadi Awas Yojana, the flagship scheme of UP Housing and Development Board (UPHDB) by the Uttar Pradesh government. There will be involvement of multiple authorities related to housing development, including the private builders, as Akhilesh government eyes on development of...

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16 October 2015

Meerut or Rae Bareli – Centre in a fix as UP demands both in smart city list

Selection of Meerut or Rae Bareli for the smart city project has landed Centre government in a catch-22 situation, as the union government was requested by Uttar Pradesh government to include both the cities in smart city list, and that the quota for the smart city scheme be extended to...

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15 October 2015

In Terms of Office Rental Yields, Indian Commercial Realty Beat Down Global Market

This is the sign of growing influence of Indian commercial market on international stage. The global survey done by Knight Frank indicates Indian commercial realty gaining lead over its prominent global counterparts. As reported, the property consultant has placed Bangalore at number one spot among top 20 global cities according to...

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14 October 2015

France ready to support India in making Chandigarh a smart city

France will lend its support to India in making Chandigarh a smart city. The decision came after visit of French delegation of urban infrastructure development in the city, saying France will assist India to develop Chandigarh a smart city. Decision was also made that France will help India to upgrade...

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14 October 2015

Hackathon, a digital event to brainstorm ideas for Pune smart city

Hackathon, a digital event, will be organized in Pune where participants from engineering background will brainstorm disruptive solutions for Pune to become smart city. The digital event will be organized by government institutes and civic, said the source. The source further indicated that the last phase of Digital Pune Hackathon 2015...

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13 October 2015

Govt Proposed AMRUT Plans for Urban Infrastructure Development in Gujarat

Gujarat government has proposed a comprehensive Rs 15,375 crore action plan meant for urban infrastructure development in 31 cities under AMRUT (Atal Mission for Rejuvenation and Urban Transformation) in the next five years. There will be construction of 19 Sewerage Treatment Plants (STPs) at approximate cost of Rs 4721.57 crore....

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12 October 2015

Realty market to see turnaround in the second half of calendar year 2016, says report

The real estate market of India is likely to witness turnaround in the second half of calendar year 2016, according to the report by Bank of America Merrill Lynch. Undoubtedly, the news bears note of ecstasy for the builders and those hoping for realty revival after certain years of its...

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09 October 2015

RBI Move – Now take home loans up to 90% against property worth Rs 30 lakh

In an attempt to push forward the growth of affordable housing segment in India and bring cheers to homebuyers, the Reserve Bank of India (RBI) has paved the way for affordable home loans, saying banks can loan up to 90% against the property at near cost of Rs 30 lakh....

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08 October 2015

Ahmedabad – Realtors anticipate big change in realty market after rate cut on home loans

After the unexpected reduction on repo rate by RBI, the realtors in Ahmedabad are buoyed with anticipation of witnessing big change in city’s realty sector. In light of recent slash on home loan rates by lenders, the city’s real estate market is rife with speculation of steady boost in the...

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07 October 2015

ICICI, HDFC, and SBI Pass On RBI Move, Home Loans To Be More Affordable

In what seems to be the news of the day for realtors and homebuyers, leading banking institutions in India have decided to bury the hatchet and acquiesce with the recent repo rate cut, a rather surprising move by RBI that initiated chain reactions among the fraternity of economists and market...

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06 October 2015

Homes In Small Size Configuration Pick Up Demand In Big Cities

Homes in small size configuration like small studio, one-bedroom or 1.5 bedroom apartments ranging between 500 sqft and 800 sqft on the outskirts of big cities are reportedly picking up demand among buyers. This segment is gaining momentum as the prices of properties are mounting up, thus prompting buyers to...

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05 October 2015

Despite slowdown, residential realty in Bengaluru makes way for growth

Report says the primary residential market in Bengaluru is witnessing steady growth despite the lackluster performance in overall realty market of the city. To state otherwise, the city’s residential realty market continues to make headway for steady expansion in spite of property prices getting appreciated by 9-17% in diverse property...

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05 October 2015

SBI cut short on lending rates by 40 bps, Home loans by 20 bps

The largest Indian bank, State Bank Of India has reportedly decreased its lending rates by 40 basis points to 9.3% in response to earlier repo rate cut of 50 bps by Reserve Bank of India. This is stated to mean that male borrowers will avail SBI home loan at 9.55%...

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03 October 2015

Kolkata Realty – More Retail Space In Future to Accommodate New Brands

Kolkata commercial realty is to have an approximately 10 lakh square feet of retail space to its inventory catalog with the purpose of providing accommodation to well-reputed brands like TGIF, Being Human and Cinepolis. These brands are already making their presence in the city. However, the retail this time will...

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01 October 2015

Centre To Set Up Online Portal For Bidders To E-Auction Properties

The government of India is set to launch an online realty portal in order to make the process for property auction fair and transparent for bidders. Initially, the site will list nearly 50,000 biddable properties, which Debt Recovery Tribunals (DRTs) have permitted lending institutions to bid for after the property...

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30 September 2015

Home Loans Likely To Be More Affordable Post RBI Move, Relief To Homebuyers

The recent move by Reserve Bank Of India regarding repo rate cut, which came like a bolt from the blue for market pundits, is likely to make home loans in India more affordable for borrowers. Many lending institutions in the country will feel nudged by RBI’s move, and they are...

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29 September 2015

‘Smart City’ Project To Be Developed As Green Cities – IGBC

The chairman of IGBC (The Indian Green Building Council), Prem C Jain, said the ambitious ‘100 Smart Cities’ project will be developed as green cities. He said the government roped in IGBC to lend its subject matter expertise in development of nation-wide 100 smart cities. As reported, Prime Minister’s Office (PMO)...

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29 September 2015

RBI Slashed Repo Rate by 50 Basis Points, Comfort for Real Estate, Indian Economy

In an unexpected move that is nonetheless seen to revive real estate, economy and market of the country, the Reserve Bank Of India has slashed its repo rate by 50 basis points. The move took the market pundits by surprise as most of them predicted downfall in terms-lending (repo) rate...

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28 September 2015

Noida Buyers to Seek Clarification of their Homes in Salarpur Village, Sector-107

More than 500 people who had purchased flats from five different residential projects in Noida’s Salarpur village, Sector-107, have voiced their displeasure, demanding an explanation for the status of the projects stalled because of the ban imposed by the apex court. As reported, the construction of the residential projects in...

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26 September 2015

Government to Launch 300 Village Clusters for Rural Development, and Bridge Rural-Urban Gap

Similar to the concept of smart city rolled out by Centre to empower urbanization drive across the country, the government of India now considers launching of 300 village clusters under Rurban Mission, a concept dedicated to rural development and bridging rural-urban divide. The proposed scheme was announced by Union minister for rural...

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25 September 2015

World Bank to Provide India Initial Funds for Smart Cities and AMRUT Projects

Onno Ruhl, World Bank’s country director in India, said World Bank will provide initial funds for India’s Smart Cities and AMRUT (Atal Mission for Rejuvenation and Urban Transformation) projects. The World Bank (WB) is currently in talk with Indian government for the same. These projects, along with Housing for All by 2022, were...

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24 September 2015

India Sought US Participation to Boost Its Urbanization Drive, and Bilateral Growth

External Affairs Minister of India, Sushma Swaraj in her US visit, has sought participation of US industry into accelerating India’s urbanization drive aiming to provide affordable housing and power to everyone in the country. She lay emphasize on the considerable opportunities India offers, along with diplomacy of business, and scale...

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23 September 2015

Faridabad In A Steady Move Towards Infrastructure Development

Once hailed as the city reeling under poor infrastructures, today’s Faridabad is on course of making revolutionary headway. The city earned spotlight three years back when it was declared as the most influential city on the ground of having various sectors with household income nearly Rs 23 lakh per annum....

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22 September 2015

Ten Projects In Noida Get Completion Certificates, Relief To 7,000 Buyers

Noida authority has reportedly issued completion certificates to 10 projects situated near Okhla bird sanctuary. Around 7,000 home buyers are expected to get possession of their flats near time soon, as reported. Because of the legal matters on demarcating eco-sensitive zone around the bird sanctuary, completion certificates for the projects was...

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21 September 2015

Market Favors Price Cut to Keep Realty on Steady Growth Drive

Real estate prices are expected to slump downward. It will become a trend that will not phase out until the realty market clears off inventory stacks. Weakening buyers’ sentiments and resultant poor sales that the market witnesses currently are the common incidents contributed by higher prices and other ancillary factors....

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19 September 2015

Noida Authority Approved Two Metro Projects, Including Okhla Bird Sanctuary

The board of Noida authority has approved two new metro projects, including Okhla bird sanctuary, worth Rs 6,710 crores. As reported, the authority also granted approval to DPRs (detailed project reports) concerning the proposed metro corridors. The CMS (comprehensive mobility plan) was also finalized for the twin cities in this regard....

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18 September 2015

Govt To Form Single Window Clearance System for Layout Approvals

The government of India will form Single window clearance system by early next year, a long pending demand from real estate industry to enhance working efficiency of builders in India. Builders at present need to consult multiple government offices and agencies to seek approval certificates for their projects. The proposed...

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17 September 2015

Southern Tier-II Cities Better Realty Destination Than Their Northern Peers – Survey

Tier-II cities from South has performed better than Northern counterparts, as the latter could not make for top spot as the most preferred real estate destination in residential segments, according to the survey conducted by PropEquity. Kochi, a very well-known port city of Kerala, has top-ranked in the survey.  ...

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16 September 2015

Chennai: Chief Minister Jayalalithaa Announced Housing Projects for LIG, MIG, and for Govt Employees

In her statement given in the assembly, Tamil Nadu Chief Minister, J. Jayalalithaa has announced the launch of housing projects encompassing 2,300 apartments at the cost of Rs 380 crore. The 2-bedroom set apartments will cost less than Rs 20 lakh each, revealed the CM in the assembly. The apartments,...

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16 September 2015

Hyderabad Realty Sector Climbs To A Steady Growth After Surge In Property Registrations

Hyderabad real estate sector is on cloud nine because of the steady growth in the number of property registrations and subsequent revenue generation that followed. Though the count of property registrations in Hyderabad and Ranga Reddy districts is not widespread, yet experts believe that the whole areas, including Hyderabad metropolis,...

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15 September 2015

Meerut Vs Rae Bareli – Smart City Tag Stuck In Limbo Amidst Political Row

While centre government prefers Meerut to be chosen as smart city, Uttar Pradesh government, headed by Chief Minister Akhilesh Yadav, favors smart city tag for both the cities in view of Congress party demanding non-discrimination for Rae Bareli during the course for smart city selection. Meanwhile, Chief Minister Akhilesh Yadav wrote a...

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14 September 2015

Global Firms Eye On Mumbai-based BKC, Facebook’s Recent Lease Spell Out Its Commercial Merit

Mumbai-based Bandra-Kurla Complex (BKC) is on the course of tectonic rise in its rental values considering global companies eyeing on the complex for their business headquarters in India. In the latest instance, social media giant, Facebook, has sought to take on the seventh floor of One KBC on lease for...

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11 September 2015

CM Akhilesh Yadav Calls On India Inc. To Invest In UP, The Land of Potentials

Chief Minister Akhilesh Yadav, in his maiden investors’ conclave held in Mumbai, has called Uttar Pradesh the state of potentials while downplaying the wrong perception created by media about the state. He talked about the business potentials of the State in the conclave. Akhilesh urged industrialists and film-markers not to fall...

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09 September 2015

Foreign Investment Indicates Sign Of Revival For Indian Realty Market

Indian real estate market is at maturity level after witnessing slowdown few times back. This has changed the perception of investors for the Indian realty market as they are now having more realistic views about investment returns for the same. According to managing director of Global Real Estate Institute (GRI),...

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08 September 2015

Noida Authority To Set Up A Panel For Monitoring Construction Quality Of Projects

In its effort to lay emphasis on construction quality of ongoing projects in Noida-Greater Noida, the city authority, chairperson and CEO, Rama Raman, has ordered to set up a panel in this regard. As reported, the committee will comprise a team of eight to ten retired IT experts, whose job...

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07 September 2015

Flouting Layout Plans May Cost Builders In Denial Of Completion Certificates, Warns Noida Authority

If found responsible in flouting pre-approved layout plans of a group housing project, builders will not be issued completion certificate for the same. This has came as a note of warning from Noida authority in its recently released public notice. As said, the authority reserves the right to deny such...

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05 September 2015

Premium Apartments Emerge As a New Growth Driver for Kolkata Realty, Claims Report

The price-sensitive Kolkata real estate market is witnessing steady surge in the demand of premium condos starting at the price range of Rs 4 crore to an extent of Rs 20 crore. This unprecedented demand surge is seen to be a new lease of life for the city’s realty market...

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04 September 2015

Noida Realty On Tectonic Shift Of Commercial And Infrastructure Development

Noida commercial properties extend profitable returns better than various cities across Indian realty spectrum. In commercial segments, Noida properties offer top rental values, healthy investment returns, and a long-hauled business gain, which otherwise pronounce beneficial in the sheer interest of buyers and investors. Noida realty is witnessing tectonic shift of...

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03 September 2015

YEIDA Authority To Roll Out Mixed Land-Use Plots Nearby Yamuna Expressway

The areas in proximity of Yamuna Expressway will capitalize on the opportunity of having integrated residential and commercial projects, according to mixed-land-use plots, a scheme to be rolled out by YEIDA. As reported, the launch of the plots will offer nearby areas of Yamuna Expressway the integrated recreational/ institutional and...

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31 August 2015

Prices Of NCR Homes Likely To Witness Mild Slump

The increasing price of residential estate across NCR is expected to witness mild slowdown if the experts are to be believed. According to them, the property prices call for corrective measure for price restraint aiming to speed up sales growth. In view of slump in property rates across Delhi NCR...

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27 August 2015

Full List of 98 Cities Nominated As Smart Cities, UP And Tamil Nadu On Top

In its effort to push forward infrastructure development across the country, the NDA government’s urban development Minister, Venkaiah Naidu has released the list of 98 Smart Cities nominated from different States as per the instructions issued by the government earlier. In the list of shortlisted smart cities, Uttar Pradesh and...

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26 August 2015

India’s Tallest 130-Story Commercial Building To Be Set Up In Mumbai

Ministry of shipping headed by Nitin Gadkari has proposed the construction of India’s tallest commercial building on Mumbai Port Trust land. The sky-kissing ‘business district’ will be used to monetize and minimize space crisis of land in the financial capital of India. Gadkari said, the 130-story commercial building will encompass...

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24 August 2015

Green Zone Apartments: Possessions At Stake For Buyers Who Defaulted On Past Payments

A buyer, who defaulted on past payments to the builders since NGT issue over Eco-sensitive zone of Okhla Bird Sanctuary was subjudice, will now find it difficult to rope in buyers to grant possessions of their flats. In other words, the defaulter buyers may not get possessions of their flats...

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24 August 2015

Price Of Mumbai Real Estate Slumped To A Comfortable Relief

Owning a flat in the financial capital of India is certainly not a difficult task as it was few years back. This is because the average cost of owning a flat in Mumbai has slumped to a comfortable budget relief, say around 2.91 crore for 2 BHK apartment. In the...

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22 August 2015

Buyers to Go Gaga: DDA Rolls Out Housing Offer of 60,000 Flats By 2016

If you are one of those applicants who did not succeed in DDA’s Housing Scheme 2014, time to reflect the positive mood and go gaga now. This is because Delhi Development Authority has taken a new step to compensate your disappointment with its new exciting housing scheme offer. The authority...

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21 August 2015

Okhla Bird Sanctuary : Authority Says Handover Of Completion Certificate In A Week

Following Centre government having notified eco-sensitive zone around Okhla bird sanctuary a day after, the Noida authority has reportedly promised handover of completion certificates to builders and developers, in a week of time. The CEO of Greater Noida and Yamuna Expressway Authorities, Rama Raman instructed planning department of Noida to facilitate...

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19 August 2015

Authority To Build Film City Worth Rs 8000 Crore Along Yamuna Expressway

There will be development of an integrated film city along the area of Yamuna Expressway, as revealed by Yamuna Expressway Industrial Development Authority (YEIDA) official. The project will be constructed in the land of more than 500 acres. Besides, the project will also have mixed land-use township. As reported, an...

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18 August 2015

No More Wait For Completion Certificate: 60,000 Noida Homebuyers Get Clearance From NGT Mandate

In what appears to be the major relief for nearly 60,000 homebuyers who had purchased homes around Okhla Bird Sanctuary, Union Environment and Forests Minister Prakash Javadekar has announced its decision to relax norms  for eco-sensitive zone around Okhla Bird Sanctuary in Noida. He has also added that the draft...

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17 August 2015

No Handover Of Residential Units To Buyers Without Completion Certificate In Greater Noida: GNIDA

In its public notice issued recently, GNIDA (The Greater Noida Industrial Development Authority) has instructed real estate companies not to handover possession of residential units to buyers until completion certification has been acquired thereof. It said further that the builders not adhering to the compliance norms will face strict action...

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14 August 2015

Builders Eye on Private Lenders to Refinance Massive Debts

Private moneylenders, such as non-banking finance companies and private equity investors are the last hope that the cash-starved real estate companies turn up for financial help so that they can refinance their massive debts. Slowdown in real estate has adversely affected home sales from the last few years. As a...

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11 August 2015

Bengaluru Outshines As City Of The Most Preferred Residential Market In India

Marginal hike in housing demand jumpstarted Silicon Valley of India (Bengaluru) towards becoming country’s most preferred residential market, thanks to the earned 27% share in recent housing projects studied in the month of January-June 2015 this year. Mumbai and Delhi NCR reportedly followed the same pattern with respective share of...

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11 August 2015

Brokerage Market of Indian Realty On Course Of Being More Tech-Savvy

The brokerage market of Indian real estate is posed to become more tech savvy, thanks to the rise of tech professionals. They have invented a myriad range of innovative mobile applications and portals intended to assist brokers to innovate in their professional. The realty brokerage market is considered huge with...

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07 August 2015

Circle Rates Hiked By 5%-10% In Noida-Greater Noida, Property Registration To Cost Higher

The hike in Circle rates in Gautam Budh Nagar have been enforced by 5% to nearly 10% across the diverse categories in the district. As a result, the cost of property registration sets to cost higher. The cost escalation in the circle rates, however, is variable across a different range...

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06 August 2015

Govt To Develop Five Small Airports to Bridge Air Connectivity In Remote Area

Minister of State for Civil Aviation, Mahesh Sharma, said the government has made its decision to construct five small airports in five locations – Tezu (Arunachal Pradesh), Jharsuguda (Odisha), Kishangarh (Rajasthan), and Hubli and Belgaum (Karnataka). The decision to develop airports in Tier-II and Tier-III cities is expected to bridge...

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06 August 2015

Investment In Commercial Property More Profitable Than Residential Property

The commercial property is said to be safe and investment-friendly in contrast to the popular belief that it is too risky a gamble.  The commercial real estate market is believed to yield relatively more profitable returns, if investors are soundly familiar with market nuances, conditions, volatility, and his/her own personal...

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03 August 2015

Builders Seek Revolution in Real Estate Sector

Real estate sector seeks revolution, a significant scale in the sales of properties in the background of skyrocketing prices and dwindling homebuyer’s sentiments. It expressed unhappiness over Centre and State government’s constantly changing housing and urban policies. As reported, real estate market performs below expectation. Moreover, the arbitrary policy level...

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01 August 2015

North Bengaluru Drove Up To Stellar Sales Growth of Properties By 45 percent

Launching and sales of residential properties in North Bengaluru drove up to a stellar growth, as estimated by international property consultancy firm, Knight Frank India. As compared to the South Bengaluru, the North one begged the highest share of 45% in the first half of 2015 in launches of residential projects,...

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01 August 2015

Bihar Govt Selected Muzaffarpur, Bhagalpur and Biharsharif For Smart Cities

Bihar government has selected three cities – Muzaffarpur, Bhagalpur and Biharsharif – to be developed as smart cities under the aegis of Smart City, a project initiated by Modi government with the vision to provide civic-dedicated housings powered by digital technologies and exclusive infrastructures. The cities have been selected after...

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30 July 2015

To Help Buyers Purchase Home Easily, Builders to Construct Apartments in Small Size Configuration

In an apparent move to increase buying capacity of homebuyers, builders, as reported, will construct apartments with reduced size configuration, rather than decreasing the capital values of the same. Builders innovate different product strategies to handle decreasing sales volume and unsold inventory levels caused by expensive property costs – the...

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30 July 2015

Indian Real Estate On Course Of Tectonic Change, Claims Report

In a recently concluded CII Annual Real Estate Conclave 2015 in Mumbai, JLL India, in its latest findings, has predicted that Indian real estate sector is on the course of tectonic change. The report studies country’s realty sector and how it has evolved over the past decade, revealing key trends...

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30 July 2015

Blame Game Between DMRC And Civic Bodies Over Construction Debris Draws NGT Flak

The blame game between DMRC and Delhi’s civic bodies over the removal of construction debris from Yamuna has backfired, when their act of shifting responsibilities finally earned flak from National Green Tribunal (NGT) and it had to step-in with clear-cut warning. As the source reports, the green tribunal rapped both...

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27 July 2015

An Overview Of How Transit-Oriented Development (TOD) Will Benefit Indian Realty

The Indian real estate sector is upbeat, but it doesn’t signify complacency, as there are more pathways to march on. While the sector is progressive in spite of tough competitions and less-than-required buyer’s sentiments, experts otherwise perceive transit-oriented development can productively transition current realty sector, spearheading its expansion remarkably in...

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25 July 2015

India Should Smarten up 100 Existing Cities than Building New Ones, Says Christopher Benninger

“I feel that Indian planners should be planning Indian cities as we know the culture, the economics and the most appropriate infrastructure for India,” – Christopher Benninger. With reference to the statement quoted by India-based American architect, Christopher Benninger – India should lend its focus on developing 100 of its existing...

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24 July 2015

‘Housing For All’ Scheme to Ramp Up Sizeable Growth for Indian Economy

According to India Ratings and Research (Ind-Ra), the mammoth project of NDA government, HOUSING FOR ALL is understood to give Indian economy an indispensable boost. But at the same time the source says, the success of the project’s final execution depends fundamentally onto some crucial factors pertaining to concrete development...

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23 July 2015

Proposed Real Estate Bill to Safeguard Interest of Small Homebuyers

Against the mounting concern surrounding proposed real estate bill and how it will serve the needs of small property buyers, the parliamentary board has come up with a suggestion in response to the need. As reported, the board recommended inclusion of the housing projects to be constructed on the land less...

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22 July 2015

Office Space Absorption Rose to a Handsome Gain in Top Indian Cities

This is good news for real estate developers. As reported by property consultancy Cushman & Wakefield, the office space absorption rate in top Indian cities rose up to a handsome gain by 32% to 17.9 million square feet. The hike in the absorption was reported to be in the first...

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21 July 2015

No Hike in Circle Rates for Flats in Okhla Zone, Big Relief to Buyers

Call it the unity of homebuyers or the Authority’s understanding about buyer’s concerns, the good news is – circle rates will not be increased for the flats in Noida and Greater Noida this year, said UP stamps and registration department. It means there will be no hike in the circle...

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21 July 2015

Noida To Become NCR’s Elite Hub Of Healthy Living With Six Upcoming Sports Cities

The district city of Noida, Gautam Budh Nagar is reportedly on its way to becoming an elite hub of healthy living in National Capital Region (NCR), and with all good reason. The city is going to have at least six sports cities powered by residential spaces with sporting facilities, near...

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20 July 2015

No Instant Relief for 30,000 Homebuyers in Okhla Zone, Authority Demands Extra Payment to Grant Possession

In what appears to be a major setback for nearly 30,000 home buyers around Okhla Bird Sanctuary, the authority of State Stamp And Registration Department has slapped new demand, asking buyers to pay the revised circle rates w.e.f  1st of August, 2015. The authority has expressed their inability to grant possession to...

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17 July 2015

Homebuyers in India Spend Millions To Buy Property from E-Commerce Sites

It appears that off-line property agencies seem to be the matter of yesterday in view of the increasing popularity of e-commerce websites. They are said to offer relatively more streamlined and innovative medium to facilitate the process of buying property in the sheer comfort and convenience of buyers, especially those...

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16 July 2015

With Rich Infrastructures and Increasing Realty Growth, Noida Extension To Become Favorite For Property Buyers

Noida Extension, popularly known as Greater Noida (West) is Asia’s one of the well-planned cities. It is expected to be the home for an estimated human population of 20 lakh after full-fledged development of the city in future. The region previously witnessed legal developments and certain controversies which triggered an...

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16 July 2015

Commercial Real Estate On Recovery Mode, Thanks To Improved Market Sentiment

The commercial real estate sector of India had delivered great performance for growth in the year 2014, and the pace of the positive turnaround in consumption of office spaces is expected to soar higher in major metropolitan cities of the country as well. As reported, the commercial real estate sectors...

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15 July 2015

Two New Metro Links for Noida-Greater Noida, Full-Fledged Connectivity in Various Parts of Twin Cities

After finalizing Noida-Greater Noida metro linkup, NMRC (Noida Metro Rail Company) has now given its focus on finalization of two new metro links aiming to provide full-fledged connectivity solution in various parts of twin cities and Noida Extension. The first metro route to be finalized involves constructing routes from Noida...

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14 July 2015

Decreasing Borrowing Costs and Affordable Housing Projects Set to Herald Ache Din for Indian Realty

There is good news coming from Indian real estate sectors. It says decreasing borrowing costs, increasing employment outlook and availability of affordable housing projects will empower Indian realty market with new enthusiasm and it will witness rapid surge in sales volume of new homes. The Cabinet has recently given its nod...

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13 July 2015

E-commerce Companies Became Second Largest Consumers of Office Spaces In India, Overtook BFSI

The e-commerce companies in India became the second largest companies to have scored highest occupancy rates in the consumption of office spaces after IT/ITeS sectors, in the month of April to June 2015 this year. The revelation came from international property consultant CBRE, which said, the number of commercial space...

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10 July 2015

Use of Smartphone Increased Three Times More than Desktop Access for Online Property Search

The use of Smartphone has reportedly increased three times more than desktop access for online property search, revealed in a survey conducted by a leading property site in India. To say otherwise, mobile penetration surpassed desktop utility for property search on the Internet, also indicating preferential treatment for cellphone given...

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09 July 2015

State Slaps Conditional Entry on Cities To Be Shortlisted for ‘Smart City’ Project

The Maharashtra government issued proclamation, stating cities will be shortlisted for an entry to “Smart City” project; the initiative launched by NDA government, if they are capable enough to individually raise funds of Rs 50 crore in addition to maintaining the expenditure cost of Rs 200 crore for the next...

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07 July 2015

Research Shows Increased Sentiment about Buying New Homes In Four Years

Among various reports indicating tepid response of Indian real estate market, this one sounds encouraging. As reported, the sentiment of home buyers about purchasing a new home is presently the strongest one in four years. The research of New Home Purchase Sentiment Index done by research firm, ZyFin Research reported that...

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03 July 2015

NMRC Finalized Locations for 21 Greater Noida Metro Stations Powered by Cutting-edge Features

In a review meeting held between DMRC (Delhi Metro Rail Corporation), Noida Metro Rail Company (NMRC) has reportedly finalized locations for 21 railway stations along Noida-Greater Noida metro links (28.8 kms). As reported, the meeting was concluded with finalizing metro stations and energy models, revealing further that 21 elevated stations...

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30 June 2015

Chinese Investor Scouts for Investment Opportunities in Gr. Noida Areas Adjacent to Yamuna Expressway

It was a Dutch telecom company and a Taiwanese conglomerate first which came to India to scout for investment opportunities in Greater Noida, and now the city seems to have smitten Chinese investor, Dalian Wanda Group that is exploring investment opportunities in lifestyle and commercial realty in the city. Dalian...

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29 June 2015

Senior Citizens are the Untapped Segment Builders Aim to Capitalize On

Builders are all set to capitalize on (utilize) India’s perhaps most untapped segment, senior citizens, and have therefore paid focus to develop homes for elderly regardless of housing market not performing well. Silverglades and Brigade, Adani Realty and real estate developers like Tata Housing have reportedly begun fostering homes, specifically...

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26 June 2015

Affordable Homes will Soon be a Reality with Centre’s Housing For All By 2022 Scheme: Experts

Experts from real estate sectors say Central government’s focused approach in pushing forward urban infrastructure development under “Housing for all by 2022” initiative accompanied by interest subvention scheme for poor will speed the process for the completion of housing stock in the ‘affordable’ segment. The affordable housing will then give...

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26 June 2015

PM Modi Launched Three Mega Flagship Projects – AMRUT, Housing For All and 100 Smart Cities

Indian Prime Minister Narendra Modi has kick-started the launch of AMRUT ((Atal Mission for Rejuvenation and Urban Transformation) and two other mega flagship projects, 100 Smart Cities and Housing For All. These projects will serve the need for fundamental infrastructure development and cleanliness in the country aside from building two...

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25 June 2015

Mission 100 Smart Cities – Uttar Pradesh Gets Lion’s Share

With the Union Cabinet having approved to NDA’s mega flagship ‘Smart Cities’ projects, the shortlisting of potential cities from various States to be nominated for the development of smart cities under ‘100 Smart Cities’ mission has finally started. In the context, Uttar Pradesh is said to get lion’s share from...

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23 June 2015

Report Says Smaller Builders Performed Better Than Bigger Names in NCR and Mumbai

Most investors may think that the business of real estate is going out of gear in view of the surging number of unsold inventories in NCR and Mumbai, but smaller realty companies with notable spotlight in smaller towns have reportedly made a visible impact by performing better than bigger names....

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23 June 2015

Supply of Retail Space is likely to Soar Up Double in 4 Years

The supply of retail space for luxury products is expected to soar up double in three to four years. Predicted by CBRE, the property consultant – major companies like Phoenix Mills, Mumbai based Shobha Developers and Make Group, Reliance Industries and DLF have geared up to lay out the wide...

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20 June 2015

Noida Sector-150 to become the Greenest Place in NCR with World-class Infrastructure

The Sector-150 of Noida is reported to be the greenest real estate destination in NCR as said by the authority upon explaining the details of projects being developed in the sector. The top brass from Noida authority revealed 80% of the sector 150 will be green. It is said that...

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18 June 2015

Cabinet approves Housing For All scheme, Affordable Homes for Poor at Low Interest

Housing for all by 2022, the flagship scheme of NDA government has got its launch approval from the Cabinet, a move considered a milestone by industries, and which is believed to set clear the path for affordable homes for the urban poor slum residents at minimum interest rates. Besides, the...

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17 June 2015

New Law in Karnataka To Protect the Interest Of Property Buyers

There are some reliefs for the property buyers in Karnataka as State government plans to set up a new regulatory structure aiming to safeguard buyers from unrealistic promises made by some developers. The decision came in light of the complaints that housing societies, developers and private builders are involved in...

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16 June 2015

CREDAI Says Handover of Nearly 50,000 Noida Extension Flats in Six Months

It appears that Noida Extension will soon become an increasingly visible property destination with the basic infrastructure already in rapid progression, thus increasing the wave of growth around the place notably. As reported, the president of real estate association Credai’s western UP wing, Deepak Kapoor said to hand over nearly...

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30 May 2015

Land Pooling Policy to add 20-25lac more houses in Delhi

On 26th may 2015, union urban development ministry notified operation guidelines for implementing the land pooling policy. This policy was drafted in 2103 and has been approved with the intent of helping farmers unable to pay development charges, making housing accessible for economically weaker section and ensuring timely external development...

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20 May 2015

Delegation of NAREDCO Met Arun Jaitley, Sought Special Package for Real Estate Revival

Headed by President Sunil Mantri, a delegation of realtors’ body NAREDCO has met Finance Minister Arun Jaitley. In the meeting, the delegation demanded special package concerning tax exemptions on affordable housings and subvention on home loans from the government in order to revive real estate sector. The association has stated...

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18 May 2015

Another Reason to Be On Cloud Nine for Buyers as NMRC Signals Metro Expansion in Noida Extension

Homebuyers in Noida Extension have another good reason to be cloud nine due to the proposed metro expansion in the area, as revealed by the Executive Director of Noida Metro Rail Corporation (NMRC), GP Singh. He said the proposed metro connectivity to the upcoming township is an expansion from the...

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15 May 2015

DDA to Start Online Auction of 152 Premium CWG Flats

DDA (Delhi Development Authority) will start the online auction of 152 premium apartments at CWG (Commonwealth Games) villages in the month of June. The electronic auction will be conducted by the land owning agency at the reserve price of Rs 7 crore for 3 BHK units. The DDA is expected...

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15 May 2015

The Land Acquisition Disputes In Noida Extension – When And What Happened

The Supreme Court of India has upheld the Allahabad High Court’s ruling regarding the land acquisition dispute between the Noida authority and the farmers. While the Judgment Day unfolded the destiny of 3 lac homebuyers in Noida Extension, the same brought disappointment to the farmers who had pinned high hope...

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14 May 2015

Relief for Homebuyers as SC Upholds Noida-Greater Noida Land Acquisition Verdict

The Supreme Court of India has ruled out the possibility of turning down land acquisition proceedings in Noida extension and so upheld the verdict delivered by the Allahabad High Court. The High Court refused to turn down land acquisition but directed Noida-Greater Noida authorities to pay compensation of 64.7% to...

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14 May 2015

In A Move to Boost Realty Sector, Govt Allows Developers to Exit Road Projects

The government of India has given its consent to a comprehensive exit policy aiming to allow highway developers to exit road projects two years later of their completion. The step by the government is seen to be crucial in assisting troubled real estate sector to monetize assets and pave the...

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12 May 2015

The New Real Estate Bill To Herald The Era Of Transparency In Indian Realty Sectors

With the Cabinet Ministry having given its nod to the Real Estate Bill, 2013, which has been long-pending for the approval, is now considered to be vital in paving the path for good governance and transparency in realty sectors of India. Not only the bill has stressed out the importance...

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08 May 2015

Ray Of Hope For Noida Homebuyers Very Soon

For almost one lakh homebuyers in Noida who have been waiting for the final possession of their homes, there is a ray of hope to come in a very few days. The assurance came from Union minister and Gautam Budh Nagar (Noida) MP Mahesh Sharma after his meeting with environment...

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08 May 2015

Bangalore Ranks No. 1 Real Estate Destination In India

Bangalore, the Silicon Valley of India is reported to have toppled NCR cities and became number one real estate destination of the country, an analysis report by an online real estate data and analytics platform revealed. The report indicated Bangalore to be on the list of 14 best realty destinations...

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07 May 2015

Cabinet Relaxed Norms on Foreign Investment Flows In Real Estate

In a move intended to improve the cash-starved condition of Indian property sectors, the Cabinet has relaxed rules to allow foreign funds to invest in REITs (Real Estate Investment Trusts). The approval from the Cabinet is said to lay the background for foreign investment inflows into the completed and rent-yielding...

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04 May 2015

Okhla Bird Sanctuary: Noida Buyers in Further Wait for Home Possessions

Until the Environment Ministry takes a final call on determining the exact eco-sensitive zone (ESZ) boundary from the Okhla Bird Sanctuary, homebuyers will likely to get late possession of their homes. As reported, over 50000 buyers who had purchased apartments in Noida have been hoping to take the final possession...

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30 April 2015

NCR Developers Following Safety Norms for High-Rise Buildings after Nepal Earthquake

In light of the catastrophic damage the earthquake in Nepal brought about recently, the effectiveness of high-rise buildings in Delhi NCR to withstand seismic activity of the earthquake appears questionable and therefore falls under deep analysis. However, real estate developers in NCR are said to strictly follow the requisite safety...

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29 April 2015

Cabinet Approved 100 Smart City projects Worth Rs 6000 Crore

The Smart City, which happens to be the pet project of Prime Minister Narendra Modi aiming to create 100 smart cities to accommodate the mass urban population in future, has reportedly got the approval from the Union Cabinet. The old housing projects, which were initiated by previous UPA Government, were...

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28 April 2015

Just Rs 6-12 A Day for Home Insurance against Earthquake!

If you are willing to set aside Rs 6-12 a day, you can get your earthquake-damaged house reconstructed! Yes, that’s not a misleading advertisement. That is the price of a home insurance you can buy. Although home insurance was thought to be a useless priority, the recent earthquake in Nepal...

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27 April 2015

Earthquake in Nepal Prompts Serious Overview of the Standard Quake-Norms for High-Rise Buildings in NCR

Real estate experts in India are in favor of serious overview of the standard quake-norms for high-rise buildings in cities, especially the NCR areas that fall in seismic zones. In wake of the catastrophic earthquake in Nepal, experts believe the earthquake safety protection must be exercised for the high rise...

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24 April 2015

India Will Be The Fourth Largest Infrastructure Market By 2030: Report

In conformity with the report by Royal Institution of Chartered Surveyors (RICS), 15 years later from now, India will become the largest infrastructure market. The country is predicted to be the biggest market in infrastructure projects by 2030 since real estate and construction sectors of the country are consistently evolving...

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21 April 2015

Global Rating Agency Predicted Surge in Indian Property Market by March 2016

The Global rating agency, Fitch, has reportedly predicted the surge in Indian property market by March 2016. The prediction came in light of possible upsurge of India’s investment scenario and depletion in the interest rates by various domestic banks. As foretold, these possible outcomes will lead improvement in the growth...

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20 April 2015

British Billionaire John Hitchcox to Ramp up Investments in High-End Residential Projects in Top Indian Cities

Regardless of unsold inventories and diminishing buyer’s sentiments as challenging concerns to cope up with, Indian real estate sectors, nevertheless, have some great news coming from different quarters. If the sources are to be believed, foreign investors have tied their willingness with Indian realty to explore myriad opportunities that it...

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18 April 2015

Commercial Real Estate Market Indicated Sign of Surge in Absorption Rate

Regardless of the continual depreciation in interest rates as enforced by the Reserve Bank of India, the market of residential real estate did not emit the sign of expected boost in sales, and unsold inventories remain piling up. However, good news coming from commercial real estate sector unveils the optimistic...

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17 April 2015

NGT Order Prompted Ghaziabad Authority Issue Compliance Notice to 77 Builders

In the wake of NGT (National Green Tribunal) order, the Ghaziabad Development Authority (GDA) has issued compliance notice to 77 builders, asking them to undertake construction activities without flaunting the norms laid down in NGT guidelines. The compliance notice instructs real estate developers to handle construction works in a manner...

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16 April 2015

Top Builders from Mumbai Realty Brainstormed Innovative Ideas at MCHI-CREDAI Property Expo

The recently concluded 24th MCHI-CREDAI Property Expo 2015 proved to be an instructive revelation of aggressive marketing techniques that Mumbai-based property developers have been utilizing advantageously as a marketing strategy to boost their realty growth. Top property developers, such as Kabra Group, Sangam Lifespaces, Acme Group,  Ekta World and Nirmal...

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13 April 2015

The Chairman of Noida Authority Dismisses Ban Report on Builders and Buyers

The chairman of Noida Authority, Rama Raman has dismissed the report claiming the imminent ban on construction activities of builders in view of the recent directive issued by the Green Tribunal. The court had earlier instructed Authorities of the twin cities to issue compliance notice to builders involved in construction...

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10 April 2015

Authorities Issued Notices to Developers of 200 Projects in Noida-Greater Noida after NGT Order

The Authorities of the twin cities (Noida-Greater Noida) have issued a notice to the developers of nearly 200 ongoing projects, asking them to follow rules of handling construction materials and debris at the construction sites. The notification came in light of NGT (National Green Tribunal) order issued two days ago...

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09 April 2015

Cheap Home Loan Rates Will Boost Housing Demand in Real Estate Sector – CREDAI President

The incoming president of CREDAI (Confederation of Real Estate Developers Association of India), Getamber Anand has said cheap home loan rates up to 8-9% will positively inspire real estate sectors as it will drive fence-sitters to the market fore, thus boosting housing demand to a positive level in realty sectors....

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08 April 2015

Projects whose Construction Activities May Possibly Be Affected by NGT Order in Noida Extension

The National Green Tribunal (NGT) has issued a directive, favoring the immediate stoppage of construction activities of all those projects that fall within 2-km stretch from NH-24 to Char Murti Chowk in Noida Extension on either side of the road. The directive came in light of the reports from different...

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08 April 2015

Gujarat Government to Operationalize Narendra Modi’s Dream IFSC Project at GIFT City

The days are not very far when India will stand as equally proficient competitor in front of countries like Malaysia, Singapore and Dubai once the operationalization process of Prime Minister Narendra Modi’s dream project, IFSC (International Finance Service Centre) at GIFT (Gujarat International Finance Tec-City) is finished. The ambitious project...

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08 April 2015

Property Buyers To Be On Cloud Nine As The Cabinet Consents To Real Estate Bill Modifications

This is certainly a great piece of news for property buyers! As reported, the Union Cabinet has granted its approval to some key modifications for the Real Estate Development and Regulation Bill. The repercussion of the approval will be that the proposed amendments will pave the path for the establishment...

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06 April 2015

NGY Infra Conclave Discusses Phase-wise Development of Noida, Greater Noida & Yamuna Expressway

In a recently concluded and the second edition of the NGY Infra Conclave-2015, the interactive event termed the twin cities of Noida and Greater Noida as “area of opportunities”. The phase-wise development of Noida, Greater Noida and Yamuna Expressway was stressed upon as the attendants of NGY (Noida, Greater Noida...

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06 April 2015

Hyderabad Real Estate Sets to Soar Higher With Recent Stabilization Trend in the Market

The real estate of Hyderabad has been witnessing visible slowdown in the demand of housing projects for couple of years in the past. The poor demand in the realty assets and properties resulted in numerous uncertainties and subsequently laid the foundation of long-term stagnancy in the real estate market of...

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03 April 2015

UP Govt Sets Stage for Easy Property Conversion, Approves Mix Land Use Policy

Gone are the days when residential sector used to be exclusive in Noida real estate. As reported, Uttar Pradesh government has given approval to the utilization of mixed land as a policy for owners of industrial and residential properties. With this, the concept of exclusive residential sector in Noida seems...

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02 April 2015

Ministry Held Discussion with Swedish Delegation for Smart City Project, Awaits Cabinet Nod

Urban Development Minister Venkaiah Naidu said the smart city project is awaiting cabinet nod for its final implementation. He said the implementation will be carried out through Public-Private Partnership (PPP) mode. The highly anticipated Smart City project conceptualized by Modi-led NDA government has reached in its advanced stage. If the...

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01 April 2015

Metro Line Expansion for Greater Noida to Start By the End of April

It appears metro railway linkup between the twin cities, Noida and Greater Noida is to surface on the reality ground very soon. According to the report, Chief Minister of Uttar Pradesh, Mr. Akhilesh Yadav will inaugurate highly-anticipated Noida-Greater Noida metro railway expansion project by the end of April, 2015. Reported by...

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01 April 2015

Omkar Realtors Gets Rs 1200 Crore Financial Aid from Primal Fund

Real estate developer, Omkar Realtors have been granted a whopping Rs 1200 crore financing by Piramal Fund Management (PFM), one of the largest finance transactions lately to a developer in recent times, as experts believe. The sanctioned funds will be utilized in the development of high-end residential projects, Omkar 1973...

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24 March 2015

Delhi Govt to Construct 27000 Flats for EWS and LIG under SFS Scheme

Delhi government will initiate the development of 27000 flats for EWS (economically weaker section) and LIG (lower income group). The source familiar with the project revealed that the Delhi Urban Shelter Improvement Board (DUISB) has undertaken the drafting work for the housing project. The source further revealed that the project...

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24 March 2015

Puravankara to Invest Rs 170 Crore to Develop Commercial Project in Hyderabad

The Bangalore-based realty firm, Puravankara, has reportedly announced to make an investment of Rs 170 crore to develop commercial projects in Hyderabad for over the next two years.  A joint development agreement between Puravankara and land owner that was laid recently will focus on the development of the office complex,...

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21 March 2015

Navratri Festive Bonanza – Realtors to Offer Freebies & Discounts to Enhance Sales

There’s none better time than festive seasons to avail homes at discounted offers with lots of freebies coming hand in hand. As reported, realtors are exploring possibilities to maximize auspicious occasion of Chaitra Navratri. In this context, they offer spot freebies and discounts aside from deferring preexisting payment plans and...

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21 March 2015

ASK group exit profitable returns from its Pune Residential Investments

ASK Group, a financial services firm declared that they have withdrawal profitable returns from two investments they made in Pune’s residential projects. The firm had made an investment of Rs 30 crore in SERANO project developed by Amit Enterprises. Exit value garnered by the company in this deal is Rs...

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21 March 2015

Realtors In Out Of the Box Thinking Mode to Push Salability of Residential Inventories

Indian realtors are said to be in ‘Out of the box’ thinking mode to increase sales volume of their huge unsold residential inventories and inspire potential homebuyers into purchasing housing apartments. The escalating number of disinterested homebuyers and various freebies not tantalizing buyer’s sentiments have prompted realtors from around Delhi-NCR...

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20 March 2015

KVD Group Offers Swine-Flu-Free Housing Scheme to Invoke Buyers Sentiments

KVD Group from Noida has come up with an attention-grabbing housing scheme, “Swine-flu Free Homes” in an apparent move to invoke homebuyer’s sentiments. With Indian property markets facing slowdown, real estate players are in pressing needs to pioneer some creative measures to enhance the sales volume of unsold inventories. For...

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17 March 2015

Govt to Kick-off Multi-crore Infrastructure Projects in Noida-Greater Noida

Seems that the twin cities – Noida, Greater Noida are soon to have exponential investment of Rs 7000 crore for the development of infrastructure projects, reported a source, citing that the inauguration will likely to be initiated by CM, Akhilesh Yadav, soon. The mega projects will encompass development of metro...

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13 March 2015

SBI Resorts to Mega E-Property Auction to Claw Back $10 Billion Bad Debts

The largest Indian bank, SBI (State Bank of India) will take resort to e-property auction to claw back its whopping $10 billion bad debts. The online property auction will be held to sell out repossessed flats, offices and warehouses, the price of which roughly amounts to $200 million. The move...

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11 March 2015

Ambience Group Plans To List Its Commercial Assets as REIT

Ambience Group is reportedly said to weigh options with regards to listing its commercial assets as REIT (real estate investment trust) – a decision which came in the backdrop of Indian Finance Minister who has declared clarity on taxation associated with REIT-listing for realty players in the Union Budget declared...

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11 March 2015

Brick Eagle To Team Up With Indian Realty Developers To Fuel Its Expansion In Housing Markets

Leading private equity firm, Brick Eagle has reportedly shown an interest to invest into affordable housing markets in India – has decided to team up with key realty players involved into building low-cost housing. The company is said to increase its market expansion in affordable housing market and will tap...

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11 March 2015

Land Acquisition Bill Passed in Lok Sabha Amidst Much Hue And Cry

The much-anticipated land bill was passed in Lok Sabha amidst much hue and cry. Leveraging on mighty majority, BJP-led government got the bill passed, although the course confronted tumultuous outcry from the opposition. As speculated, it will be a ‘hard to nut to crack’ situation for BJP to get the...

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07 March 2015

Repo Rate Cut by RBI Will Help Realty Sectors Tide Over Liquidity Crisis

Reserve Bank Of India has recently curtailed its key policy rate (repo rate) by 0.25% to 7.5% – a move hailed as significant for realty sectors to enable them iron out liquidity crisis. Terming the move as ‘excellent’, Association of India (Credai) Chairman Lalit Kumar Jain praised the repo rate...

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07 March 2015

RBI Relaxed Norms on Housing Loans for up to Rs. 10 lakh

Reserve bank of India (RBI) has relaxed the norms associated with borrowing home loans for up to Rs. 10 lakh. In this context, RBI mandated lending institutions to include registration charges and stamp duty as per the cost of a housing unit. The move by RBI is seen to be...

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04 March 2015

Fiscal Budget to Set Stage for Sustainable Growth of Infrastructure Projects in India

The fiscal budget 2015 announced by Finance Minister Arun Jaitley on February 28 is being said to provide incremental growth for infrastructure projects in India. It focuses on accelerating sustainable flow for economic empowerment of the country and reroute the financial development to give power to infrastructure growth of the...

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04 March 2015

Home Loans to Be Cheaper as RBI Surprisingly Slashed Repo Rate by 0.25% to 7.5%

The Reserve Bank of India (RBI), against all the expectations, sliced its key policy rate by 0.25% to 7.5%, thus paving the path for cheaper home loans for the borrowers and rekindling their hopes to avail affordable EMIs from lending institutions. The move is seen to avail bank funded capital...

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02 March 2015

Union Budget Grants Rs 14000 Crore to ‘Housing For All By 2022’ Scheme

The mega scheme, ‘Housing for all by 2022’ as initiated by Modi-led government under which 6 crores houses will be built across India have been granted a whopping Rs 14000 crore funding in the recently released Union Budget 2015-16. As reported, Rs 10000 crore funding will be allocated for Indira...

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26 February 2015

CCI Investigated 132 Cases Of Alleged Business Malpractices In Realty Sector

The Competition Commission of India (CCI) is reported to have investigated 132 cases of alleged business malpractices in realty sector; out of which 93 cases were closed on prima-facie stage, and 3 cases were discarded. The fair trade regulator probed in 13 cases, including the one against DLF, and has...

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26 February 2015

Maharashtra Govt. to Offer Housing Finance to Its Employees

The employees of Maharashtra government will receive financial assistance as home loans in the range of Rs 20 lakh to Rs 50 lakh in view of the urban areas where housing prices are too high to be afforded. As to the decision for granting home loan, the government will ensure...

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25 February 2015

YEIDA Launched 1900 Green Multistorey Flats on Yamuna Expressway Zone

An affordable and eco-friendly housing project consisting 1900 multistorey flats on Yamuna Expressway zone (Sector 22 A) has been launched by YEIDA (Yamuna Expressway Industrial Development Authority). The housing project will serve the needs of buyers from middle and lower-income groups. Officials said there are 1900 green multistorey flats which...

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24 February 2015

PE Investment in Indian Realty Doubled to Rs 15410 crore during 2014

Property consultant, Cushman & Wakefield revealed Indian real estate sector attracted domestic and global investors lucratively, as it earned total inflow of Rs 15410 from Private Equity (PE) investment which is double the amount what Indian realty witnessed in 2013 (Rs 7360 crore). This is ostensibly a feat making out...

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24 February 2015

DLF to divest 50% stake to improve its cash flows

With an eye to improve its cash flows, which were slowed down due to poor demand in housing, realty giant, DLF, is mulling to divest 50% stake for over 3000 crore to private equity firms in four new housing projects. The company is planning to close some of the deals...

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20 February 2015

Cabinet to Take Up ‘Home for All by 2022’ Urban Housing Scheme

With a determined approach to materialize the concept of affordable housing for all by 2022, the Union Cabinet has been reported to take up the National Urban Housing Scheme. As reported, the blueprint of the scheme has already been laid out and the cabinet will look into the matter on...

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17 February 2015

Bloomberg Philanthropies Teams with Urban Ministry to Aid Smart Cities Initiative

Smart Cities Mission as initiated by Indian government is picking up the momentum based on the global investors expressing keen desire to lend their financial support to this initiative. In recent instance, former Mayor of New York City, Michael Bloomberg and Indian Prime Minister Narendra Modi have announced partnership between...

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17 February 2015

Builders Offer Free Studio Apartments, Subvention Schemes as Freebies to Boost Buyers Sentiments

All cheers to home buyers as builders in top cities of India are gearing up to boost sales volume of their unsold inventory with tantalizing offers such as free studio apartments, complimentary modular kitchen, up to 20% discount and subvention on home loan interest rate (up to 3%) among other...

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17 February 2015

SC Asks Supertech To Refund Buyers, Says Investors Can’t Be Taken For A Ride

In what appears to be a reprieve for investors, Supreme Court of India has directed Supertech, asking the real estate giant to return money to the flat owners within the period of one month. The court cited that developers are not supposed to take investors for a ride (cheat/coax), and...

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11 February 2015

Adani and US’ Brahma Management to Jointly Develop Township in Gurgaon

Adani Realty has signed up agreement with New York based Brahma Management to jointly build up township over 150-acre land in the city of Gurgaon. Adani has been in talks with this India-focused investment firm and finally both the partners have inked the agreement to construct township in Gurgaon, as...

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11 February 2015

South Mumbai Property Prices Are Likely To Soften – JLL India

Real estate consultant, JLL India expects that the prices of South Mumbai properties, which are believed to be the costliest in India, will likely to soften once Mumbai Trans Harbour Link (aka Sewri-Nhava Sheva Trans Harbour Link) surfaces. Mumbai Trans Harbour Link Mumbai Trans Harbour Link is 22-km proposed construction...

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11 February 2015

Smart City In Vision, Urban Ministry Seeks Private Investment Aid

The government of India has already announced phase-wise construction of 100 Smart Cities across the country, but now it seeks participation of private investment to materialize the mega project. Urban Development Minister M Venkaiah Naidu has said the ambitious Smart City project will require gigantic resources, and therefore participation of...

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10 February 2015

Land Allotment Issue – CCI Gave Noida, Greater Noida Authorities the Clean Chit

The authorities of Noida and Greater Noida were given the clean chit by Competition Commission Of India for their alleged involvement in land allotment case. The competition watchdog exonerated the accused entities – Greater Noida Industrial Development Authority, Yamuna Expressway Industrial Development Authority and New Okhla Industrial Development Authority (NOIDA)...

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09 February 2015

Parsvnath To Slash Rs 400 Crore Off Its Net Debts for Speedy Construction Of 50 Projects

Parsvnath Developers have decided to slash Rs 400 crore off its net debt wroth Rs 1300 crore to pay out its debts and speed up the construction of its 50 ongoing projects, as reported. Recently, the company received Rs 572 crore from Chandigarh Housing Board (CHB) after it had sorted...

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07 February 2015

Traffic Flow at Noida City Centre to Ease Off Soon

Noida authority engineers have started the construction of an underpass to ease off traffic flow at Noida City Center crossing. The construction of the project is expected to end before its scheduled completion, as stated by officials. The ongoing construction of the proposed subway is being sped up by the...

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07 February 2015

Research: Sales Of Homes In Top Cities Plunged By 8 Per Cent

Liases Foras, a property research firm has revealed in its study about 8 per cent drop in the sales volume of homes in six major cities with Chennai being the worst affected of them all. The research indicates the slowdown of realty market; including that the sales dip didn’t deter...

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05 February 2015

Noida-Greater Noida Metro Corridors to Have More Realty Space

As known earlier, development of much-anticipated Noida-Greater Noida Metro linkup project is scheduled in March this year. However, State Government will inform the metro authorities on the proposal which was presented in 2013. The proposal suggested development of more realty space along with the proposed metro corridors. The metro authorities...

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05 February 2015

Compensate Farmers for Illegal Land Acquisition: SC

State government authorities have been directed by Supreme Court of India to compensate farmers whose agricultural lands were acquired illegally. “You can’t use Land Acquisition Act to harass farmers” – said by a bench headed by H.L. Dattu, the Chief Justice of SC. The Supreme Court defended Allahabad high court...

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04 February 2015

Spain To Sign MoU With India To Transform Delhi Into Smart City

In what appears to be a sign of Indian realty sector’s growing reputation in the eyes of foreign investors, another country is reported to have expressed its keen interest to invest in India’s capital city, Delhi. This time it is Spain which is eager to take part in ambitious Smart...

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04 February 2015

CREDAI Displeased With RBI for the Reversal on Repo Rate Cut

Unhappy with RBI’s backing out of what it promised earlier to cut down on repo rate, CREDAI voiced its displeasure with India’s Central Bank for its reversal. The Confederation of Real Estate Developers’ Association of India (CREDAI) expressed disappointment on RBI’s decision not to change the current policy rates, saying...

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04 February 2015

Indian Realty Full Of Potential: Indo-Canadian Billionaire

Bob Dhillon, first Sikh billionaire from Canada who made fortune in Canadian realty market, feels Indian realty market is full of potential. He literally termed it as a developer’s dream, saying it will boom if the Indian government makes right moves towards it. Dhillon aka Navjeet Singh Dhillon had also...

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02 February 2015

Vatika Group Forays into Healthcare Sectors, Will Invest Rs 200 Crore

Vatika Group, one of the leading developers in the Indian real estate industry, has announced its foray into healthcare sector with the investment plan of Rs 200 crore to be allocated to open 15 diagnostic laboratories for the next two years. Vatika has purchased diagnostic labs by the name of...

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02 February 2015

Pune Municipal Corporation Disapproved Property Tax Hike

The proposal by Pune civic body that a hike by 18% in civic tax should be implemented was disapproved by the standing committee of PMC (Pune Municipal Corporation). The civic panel instead instructed the public administration to take alternative measures other than raising the proposed tax to recover money from...

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02 February 2015

DMRC kicked off Noida-Greater Noida Metro Link Project, Authorities to Set Clear All the Hurdles Soon

Sounds like metro connectivity between Noida and Greater Noida is depicting reality as The Delhi Metro Rail Corporation (DMRC) has eventually kicked off the much-anticipated Noida-Greater Noida metro linkup project after it has signed up the Memorandum of Understanding (MoU) with the authorities of both the cities. As reported, DMRC...

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29 January 2015

Commercial Values Of The Land Near Narbal-Tangmarg Highway Skyrocketed

There’s no denying that commercial properties that fall in proximity to highways linking to major landmarks usually witness hike in their values. It appears that the same has transpired with the properties near Narbal-Tangmarg highway in the uptown area of north Kashmir. As reported, properties along the highway witnessed their...

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28 January 2015

Infinity Group to Invest Rs 1000 Cr on Residential Project in Vrindavan

Kolkata-based realty firm, Infinity Group is planning to make an investment of around Rs 1000 crore on residential projects in Vrindavan. The construction of the project will involve phase-wise development comprising 140 villas and 2000 units over 40 acre buildup area in the location which offers close proximity to world’s...

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28 January 2015

Indo-US Sign Pact to Develop Ajmer, Visakhapatnam & Allahabad as Smart Cities

In an indication of Indo-US-joint efforts to strengthen the bilateral bonhomie, both the countries have signed up a pact to constitute a task force that will shoulder responsibility to develop Allahabad, Ajmer and Vishakhapatnam as Smart Cities.  A mandate of three months to chalk out the roadmap regarding the construction...

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27 January 2015

Indian Realty Cynosure for Global Investors, IPCs in a Leading Role for Its Expansion

Indian real estate is considered as cynosure for property investors. Some of the key factors including better investment policies and scenarios have led the growth of investment-flow to the Indian realty sectors. International Property Consultancies (IPCs), as reported, plays a leading role in helping out MNCs and domestic investors familiarize...

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25 January 2015

REITs To Benefit Investment Flow To India In A Big Way: Anuj Puri

Anuj Puri, Chairman and Country Head of realty consultancy firm, JLL India, has termed REITs (The Real Estate Investment Trusts) as “booster rocket”, telling otherwise that it will benefit investment flow to India in a big way. He also added that real estate companies are looking forward to have a...

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24 January 2015

Housing Sectors to be In Priority Sector Lending, Will Pave New Dimension of Growth

Housing sectors will probably get priority-sector lending advantage as implied by Union Minister for Housing, Poverty Alleviation, and Urban Development M. Venkaiah Naidu. He said Central government planned to bring entire housing sector under priority sector lending – a step that will spell new dimension of growth for the housing...

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22 January 2015

Bangalore Witnessing Steep Surge In Demand Of Luxury Housing: Report

The market of Indian real estate performed lethargically over a couple of years.  Sales of luxury residential properties have adversely been under performance. However, recent report indicated that Bangalore is witnessing steep surge in the demand of luxury housing over the past 2 years, thus top-ranking the real estate market...

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22 January 2015

Consumption of Commercial Property Increased As E-Commerce Segment Picked Up Speed

The growth in e-commerce segment led the outcome of expansion in the demand of commercial properties e.g. warehousing and office spaces in 2014. This evinced the growth by which properties are leased by e-retailers. The consumption of office space and warehousing by e-retail players is said to have increased by...

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21 January 2015

Govt. in Haryana Fixes Housing Price for Low-Cost Homes

The Haryana government has reportedly fixed the price of low-priced homes.  The government has taken this step in an effort to help the buyers from lower-middle and middle class segments of the society. Now the verdict in place, builders cannot charge higher than Rs 4,000 for per square foot of...

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20 January 2015

US Banks Likely To Get Involved In Indian Real Estate

India seems to be one of the potential investment banking clients for bulge bracket (multi-national investment banks), as the country’s real estate, after a long gap, is likely to witness involvement of US-based bulge bracket banking groups like JPMorgan, Morgan Stanley and Goldman Sachs, as reported by property funds and...

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20 January 2015

Unfair Realty Practices to Be Reined In As CCI to Finalize Commandment

In wake of the malpractices being maintained by some realty developers, the CCI (Competition Commission of India) is said to finalize the commandment that will probe in the case soon. So far, the fair trade watchdog has brought down a total of 20 realty entities under its scanner, who are...

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19 January 2015

“Build Low-Priced Housing For The Middle-Class Buyers” Govt

PWD Minister (Public Works Department) of Maharashtra, Eknath Shinde said while developers have leeway to construct housing projects and prosper their business accordingly, they must, however, focus on the development of low-priced homes for middle class buyers as well. He urged realty developers to concentrate development of low-cost housing projects...

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16 January 2015

RBI Slashed Policy Rates, Home & Consumer Loans Set To Be Cheaper

All cheers to homebuyers! Reserve Bank of India has reportedly slashed its policy rate by a quarter percentage point. The move, which is all set to bring down the cost of housing finance and consumer loans, is considered to have been taken in light of benign inflation and “yet to...

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15 January 2015

Builders-Homebuyers Likely to Have Relief as MoEF to Consider Realty near Okhla Bird Sanctuary

30,000 homebuyers awaiting possession of their homes near Okhla Bird Sanctuary are likely to get a relief, as the Ministry Of Environment And Forests (MoEF) is to consider all the comments on its draft notification regarding eco-sensitive zones located in proximity to Okhla Bird Sanctuary. The meeting for the same...

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14 January 2015

Office Space Absorption in Top Cities Surged As Demand from Corporate Hiked

Office space absorption rate in seven top cities of India is bound to surge as demand of the same from corporates is estimated to have increased by 11%. Companies/ corporates in quest for their commercial expansion are reported to have increased their demand for office spaces in 7 major cities...

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14 January 2015

Home Buyers Sentiments To Pick A Hike As Economy Revival Signals Change

With the prices of international crude oil and home inflation getting to normalcy, there is fair chance that economy improvement will throw positive impact over home buyer’s sentiment in days to come. As estimated, economy revival is soon to surface followed by declining inflation rate at home front and slump...

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14 January 2015

Jewar Airport – Might Attract Corporates towards Noida’s Real Estate

Until 2012, Noida was considered as one of the best locations to buy home as well as office. From 2012 onwards, Gurgaon have been giving it a tough competition and has become first preference for corporates, as it provides easy accessibility to IGI airport. Gurgaon’s Indira Gandhi International – Noida’s...

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14 January 2015

EPFO Subscribers to Get Affordable Houses under Mega Housing Scheme by Govt.

In an effort to bring cheers to its more than 5 crore EPFO subscribers, The Labour Ministry of India is going to launch a mega housing scheme. Under the scheme, homes at affordable prices will be provided to the subscribers of Employees’ Provident Fund Organisation (EPFO). The ‘soon to be...

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06 January 2015

Stable Price And Lower Borrowing Rate Bound To Increase Sales Volume Of Housing Units In 2015: Analysis

Housing units close to 1.92 lakh are expected to face upward swing in 2015 in 7 major cities like Hyderabad, Bengaluru, Delhi-NCR, Pune, Chennai, Mumbai and Kolkata according to the real estate experts. Factors like possible interest cut and price stability are attributable to sales hike of housing units, as...

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06 January 2015

Brokers On Cloud Nine As Resale Market Picked Up Sales Volume Despite Slowdown

If past year’s realty performance is to be analyzed, it certainly brought some good news for real estate brokers, as marginal sales hike of 15% in secondary market buoyed up brokers in view of the realty business slowdown. As the source indicates, potential buyers raised property-related queries, especially about properties...

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06 January 2015

Delhi In For Mega Facelift As DDA Envisioned Smart City Plan

The capital city of India is all set to have mega facelift, as Delhi Development Authority (DDA), in its agenda, has envisioned development of a complete sub-city plan over 20-24 hectares of land area consisting of 2 million flats equipped with world-class amenities. There will be facelift of three smart...

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06 January 2015

Noida Authorities To Kickstart Infra Projects, Hopeful that Amendment In Land Acquisition Act Will Help

In a recently concluded meeting, the chairman and CEO of Noida and Greater Noida Authorities Rama Raman said that DMIC (Delhi-Mumbai Industrial Corridor) project will be expedited as all the obstacles in this regard were discussed to be resolved soon. He issued the instructions to senior officials in light of...

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31 December 2014

Indian Realty To Be On Upward Swing In 2015: Report

From the perspective of business sentiment, Indian realty fared well in 2014, albeit major announcements to this regard are likely to be implemented only in 2015. Some announcements like relaxed norms for land acquisition and affordable housing provision on par with infrastructure under Union Budget FY 2014-15 suggest that that...

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31 December 2014

India Consents Decree To Simplify Land Acquisition Norms, Sets Stage For Economy Growth

With an eye on speeding up the economy growth potential, Indian government has finally consented to the ordinance/decree to simplify existing norms associated with land acquisition in the country. The controversial norms/rules are said to be the breeding grounds for delaying various projects worth billions of dollars stalled due to...

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31 December 2014

Ordinance Approved By Govt Sets To Legalize Unauthorized Delhi Colonies

In an apparent move to bring smile on the face of 60 lakh families living in 895 unauthorized colonies in Delhi, the Union Cabinet, presided by Prime Minister Narendra Modi, granted its approval to the Ordinance intended to regularize unauthorized colonies in Delhi. The amendment in the Delhi Laws (Special...

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31 December 2014

“Buy A Luxury Flat and Get A Studio Apartment Free” – Supertech Freebie to Boost Its Sales Volume

In what appears to be a never-seen-before move, leading real estate player, Supertech, has come up with an incredible discount offer – a studio apartment worth Rs 22 lakh free with the purchase of a luxury flat worth Rs 1.38 crore. Though an exceptional and perhaps an incredible of its...

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24 December 2014

Indian Realty Likely To have Rs 600 Crore Investments From Italian Company

As the source reveals, an Italian business consulting company, Gianesin Canepari & Partners (GC&P), is likely to make an investment of Rs 600 crore into real estate in India. The proposed investment plan will continue in place over the next five years and will be earmarked to facilitate construction of...

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24 December 2014

Realty Developers Eye on Middle East Investors, Likely To Launch Shariah-Compliant REITs

Indian real estate developers are planning to launch Shariah-compliant Real Estate Investment Trusts (REITs), a move that is deemed significant in developers’ effort to garner lucrative investment from the Middle East investors. As the source says, the launch of REITs is to be made favorable to Islamic finance in conformity...

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24 December 2014

DLF Likely To Monetize Its Commercial Spaces Worth $500 Million

India’s biggest owner of commercial assets, DLF is said to have explored multiple options relating to monetization of its commercial properties worth around $500 million (Rs 3,000 crore). The preliminary move is seen to be a part of company’s effort to win the trust of investors and bankers and to...

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24 December 2014

Ghaziabad To Be Hi-Tech In 6 Months: GDA

Ghaziabad Development Authority (GDA) claims that Ghaziabad will be a hi-tech city in 6 months. To vindicate the claims, installation of hi-tech equipments including video camera, Wi-Fi and other sophisticated equipments across the city is underway, as the source reveals. If Ghaziabad Development Authority (GDA) is to be believed, the...

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23 December 2014

Office Space Worth Over $2 Billion Bought By Foreign Investors In 2014: Report

According to the data sourced by TOI, India witnessed exceptional surge in foreign investment worth over $2 billion in 2014. It is said to be four times higher in contrast to the past year in terms of investor’s interest to buy tenanted commercial properties. As the data indicates; rent-yielding commercial...

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12 December 2014

Indian Realty Markets To Be The Epicenter Of Property Investors: Reports

As perception study conducted by Urban Land Institute and PricewaterhouseCoopers (PwC) concludes, the major realty destinations like Bangalore, New Delhi and Mumbai will be the epicenter of property investment in 2015. To state otherwise, these realty markets will be worthy prioritization for property investors because of the progressive rise that...

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11 December 2014

Lodha Group Earns Record Bookings Of Flats Worth Rs 500 Crore

In what appears to be the major boost to its ambitious effort of expanding circle of realty presence across India, Lodha Group is said to have earned record bookings of flats worth in Rs 500 crore within just 9 days of reopening the bookings of its Mumbai based ultra luxurious...

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11 December 2014

Ashiana Housing To Invest Rs 750 Crore On Four Housing Projects

Delhi-based realty firm, Ashiana Housing, which prioritizes development of housing projects for senior citizens, will develop four new housing projects Haryana and Rajasthan. For the development, the realty firm will dedicate investment of around Rs 750 crore in the next 3-4 years. The construction of the proposed housing projects, as...

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11 December 2014

Sobha Limited To Reinforce Its Market Expansion

Leading real estate developer, Sobha Limited contemplates to add fresh sales of 7 million sq feet in its attempt to reinforce its market expansion in Indian realty market. This Bangalore based realty player is said to handling 50 continuing projects covering the commercial area of 24 million sq ft. The...

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02 December 2014

DMRC To Project Alignment Plan For Noida Metro

The Delhi Metro Rail Corporation is about to project an alignment plan for Noida Metro that will link Noida Sector 71 to Bodaki in Greater Noida. If the finalization of the 30-km proposed link by DMRC takes place, the metro station at Noida City Centre (Sector 32) will no longer...

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02 December 2014

Assam Witnessing Rapid Expansion In Realty Sector

India’s one of the fastest growing cities, Guwahati, is reported to be in the spotlight for city’s rapid expansion in real estate sector, witnessing speedy growth in commercial and residential complexes followed by the steep rise in the demands for housing complexes. An official from SBI (State Bank of India)...

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02 December 2014

Ghaziabad Highrises To Have Relaxed Norms For Registrations Of Flats

The department of stamps and registration of Ghaziabad is said to have eased off the norms associated with registration of flats in sky-high apartments in the city, a ruling that will help home-buyers register flats without submitting stamp papers and completion certificate for the housing project. While the officials squashed...

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02 December 2014

Hike In Guidance Value Shot Up The Price Of Bengaluru Office Spaces

With Karnataka government having increased guidance value of fixed properties in Bengaluru, the prices of commercial spaces in the city skyrocketed enormously as property registration warrants payment for the stamp duty and subsidiary charges. The Central Business District of Bangalore, which contributes 40% of total commercial space in the city,...

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25 November 2014

Companies accelerate expansion plans that benefit Commercial realty business

The corporates are starting to finalize their enlargement plans by pushing office space leasing in various cities. The property consultancy JLL provided a data showing the status of Indian and foreign companies leasing up to 9.3 million sq. ft of office space in the quarter to September. It is the...

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25 November 2014

Venkaiah Naidu declares interest subsidy benefit for low-income housing loans

The Minister for Housing and Urban Poverty Alleviation, Venkaiah Naidu announced the interest subvention scheme for the housing sector for the economically weaker section (EWS) and lower income group (LIG) people. He stated that the government is looking forward to reduce interest rates and when the new housing policy will...

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25 November 2014

In Gurgaon, Supertech Introduces Affordable Project

Noida based real estate firm Supertech announced its first affordable housing project in Gurgaon. The project is named Basera, which is located in sector 79 and 79B in Gurgaon. It is being planned, according to the affordable housing policy of the Haryana government, which was framed in 2013. The company...

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25 November 2014

The Yamuna Expressway Plots Available For Possession Soon

The plots along the Yamuna Expressway with the size ranging from 300 sqm to 4,000 sqm in sectors 18 and 20 will available for possession soon. The plots were basically put up for sale in the year 2009, but it had undergone several delays due to many reasons. Farmers from...

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19 November 2014

Singapore aspires to make Delhi a “Smart City”

Singapore has scrupulous used its land, water and power in developing itself as the first “smart nation.”  Masagos Zulkifli, a minister in home and foreign affairs, met Indian journalists and stated he is willing to develop Delhi as a smart city if the Indian government led by Modi agrees to...

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19 November 2014

Kolte-Patil collaborate with NOW Realty for a Pune residential project

Now Realty has chosen Kolte-Patil as a development manager to team up and develop its residential project – Sereno at Baner in Pune.  The project, on which construction has already instigated, will offer 6 lakh sqft of the saleable development area. According to the contract Kolte-Patil will offer its brand...

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19 November 2014

Sekaspace Heralds a steel building revolution for Villa Development

Sekaspace is known for creating architecturally thrilling structures according to the client’s requirement in the shortest span of time. The red iron technologies with steel framed structure are utilized for the construction by the company. Though this concept existed in India, but was being only used for industrial purpose. Sekaspace...

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19 November 2014

Development of builder floors at Ashok Vihar, Delhi

Ashok Vihar, in Delhi, is a city of strategized houses and colonies, which are displayed in rows. Until now no private developer apartment projects have been propelled here, nor expected to come up in the future. But the location is increasing the development of independent floors on housing plots. The...

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13 November 2014

Ambience to invest in New Housing Projects in Gurgaon and Noida

Ambience to invest Rs 1,950 crore in a housing project in Gurgaon and Noida over the next four years. The Delhi-based company will develop over 1,030 apartments in these two projects.  The selling price has been fixed for both projects at Rs 9,000 per sq ft., and the  cost of...

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11 November 2014

The NCR Link Road finally in operation for Public

Proposed to cut travel time between the four cities the six lane arterial road is now open for public use. It runs between Parthala Khanjarpur in Noida’s Sector 122 and Sirsa-Kasna in Greater Noida. From  Greater Noida, it starts from Sector Zeta and connect to Vijaynagar in Ghaziabad that cuts...

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11 November 2014

In collaboration with China, Gurgaon to get $ 5 billion Expo Centre

M3M Group commenced a strategic partnership with the Xinji group, from south China. The two companies agreed and signed a MoU in Guangzhou to construct a first of its kind exposition center in Gurgaon. The M3M would deliver land resources, and the Chinese firm, which has major experience in building...

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11 November 2014

With the BJP backup Realty Sector in Mumbai and Gurgaon to Develop

At present Mumbai and Gurgaon are being observed as the largest and fastest growing real-estate markets. With the BJP government winning the assembly elections in Maharashtra and Haryana the real estate experts anticipate a greater collaboration in policies to initiate the development of the real-estate sectors, which have seen a...

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11 November 2014

Property Tax set to go up in Ghaziabad

In Ghaziabd the property rental values were last revised in the year 2001. According to UP Municipal Corporation Act, 1959, it was agreed that the rates have to be compulsory reviewed every two years. The suggestion to increase tax rate has met with a certain degree of opposition from Councillors...

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04 November 2014

Gulf NRIs showing interest in Indian property

The two-day property exhibition that took place in Dubai marked the presence of some most reputable developers from India. They showcased an assortment of residential and commercial properties from cities in India including Mumbai, Bangalore, Delhi, Pune and many others. The event provided a platform to NRIs, in the UAE...

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04 November 2014

Aadhaar likely to be used in Real Estate to monitor Black Money

To slash the use of black money in property deals, the government is considering the real estate transactions with Aadhaar as an identification card. If this new change would be applied it could trace all the real estate transactions made by an individual. This move might also possibly resolve the...

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04 November 2014

Mahindra Lifespaces Developers ventures into weekend homes

The renowned Developers Mahindra Lifespaces is unveiling a new  project- The Serenes in Maharashtra that  spread across 12 acres. Located at Alibaug in Raigad district the “Serenes” will offer a weekend homes planned to deliver an outstanding rejuvenating experience to the residents. The villas will be designed by a well-known...

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04 November 2014

Apply and Pay Online for YEIDA Housing Scheme Offer

YEIDA has propelled  a convenient facility for the buyers of Yamnotri Housing Scheme in Sector 22A that they can do all the formalities of paying as well as applying online without having to visit the YEIDA office in Greater Noida. This online facility will be a boom for a large...

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30 October 2014

Ajnara Sports City at Greater Noida West – New Eco Friendly Township

Ajnara Group is launching a new township project “Ajnara Sports City” the Luxury Villas in Greater Noida West (Noida Extension). The Project being built by Ajnara will be equipped with latest technology and plan. The major highlight that Ajnara Sports City is offering  includes earthquake resistance structure and rainwater harvesting....

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15 September 2014

BRYS Indihomz – New Project in Noida Extension

BRYS Indihomz is a new launched residential project by Brys Group at Noida Extension having great connectivity to Delhi/NCR region. After delivering the world class project i.e. Brys Buzz by Brys Group, now it launches Brys Indihomz housing project with 1, 2, 3 & 4 BHK apartments spread over 5...

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12 September 2014

Antriksh Gold – New project by Antriksh Group

Antriksh Group has come up with a new residential project i.e. Antriksh Gold at the splendid location of Siddharth Vihar NH-24, Ghaziabad. As we know, Antriksh Group has the hold of quality construction and timely completion of project. Antriksh Gold, the name itself giving the feel of luxury amenities with...

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19 June 2014

New Delhi: IGBC targets 10 Billion Sq. ft. area for Green Building Project

Indian Green Building Council (IGBC), a part of the CII-Godrej Green Business Centre, has already covered 2 billion sq. feet area for green building projects and plans for 10 billion sq. ft. area by the year 2022. The green building projects certified by IGBC include Homes, Townships, SEZ, Factories, etc....

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16 June 2014

Largest Ever Housing Scheme in New Delhi by DDA

Delhi Development Authority (DDA) will offer over 26,000 flats in the largest-ever housing scheme by the end of July’14. Available in LIG, MIG and HIG categories, the flats will cover areas like Narela, Rohini and Dwarka in Delhi. This housing scheme comes under the Master Plan 2021 of Delhi and...

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10 June 2014

Private citizens can buy Property in some Government Colonies of Delhi

National Buildings Construction Corps (NBCC) is considering sale/lease of home and office spaces in some upscale, redeveloped government colonies of Central and South Delhi to private citizens, following the demand to raise money for...

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10 June 2014

NGT forbids Environment Clearance to 30,000 Completed Projects in Noida

NGT (National Green Tribunal) has passed the order of not giving completion certificates to projects that lie within a 10-km radius to Okhla Bird Sanctuary. This has posed great trouble to many builders in Noida such as Ajnara, Jaypee, Amrapali, ATS, Logix, etc. who have completed projects within this range...

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09 June 2014

People in Pune pay Property Tax in Advance

Property owners in Pune rushed to pay their annual property tax well in advance in order to avail the promised 10% discount, which has resulted in early tax collections of a huge sum of around 400 crores by the Pune Municipal Corporation...

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09 June 2014

After Delhi, it is Mumbai’s turn for Metro

Versova Andheri-Ghatkopar (VAG) corridor of the Mumbai Metro has been commissioned to bring Metro connectivity in the financial capital city of India. Metro in Mumbai will bring a breakthrough in the transport facility in Mumabi and this will have a clear positive impact on the city’s Realty...

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04 June 2014

Land Prices Hike in Noida & Yamuna Expressway

Noida & Yamuna Expressway Authorities have decided to increase land allotment prices for housing, residential, institutional and industrial properties in Noida and Yamuna Expressay. Commercial land rates, however, will see no such change. Greater Noida will refrain from this immediate act for there had already been a 10% increase in...

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03 June 2014

Apartment Act enforced in Noida and Greater Noida

Noida and Greater Noida Authorities have alas adopted the 2010 UP Apartment Act, which will reduce the risk of frauds by developers as well as make buying in group housing projects in these areas easier and more transparent for the buyers and investors. UP Apartment Act 2010 will provide a...

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31 May 2014

BSES Rajdhani & Yamuna Clear Electricity Dues to NTPC, New Delhi

BSES Rajdhani & BSES Yamuna have paid electricity dues of almost Rs. 700 crores to the largest electricity generator of India, the NTPC, following Supreme Court’s orders to cut power supplies of these two Power distribution units of Reliance Infrastructure if they fail to clear the...

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31 May 2014

New Delhi: Low Cost Housing is Infrastructural Development

Long standing proposal of Low-cost housing to be given the label of “infrastructure” development is likely to see the clear light of the day by the Modi-led NDA government, and this means that real estate builders and developers will get loans from banks more easily at lower interest rates and...

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29 May 2014

Mumbai: Quick Real Estate Refinements by Modi

After Narendra Modi’s victory in elections ’14, Real Estate developers are looking forward to some due realty reforms as promised by the government in their party election manifesto, which include an increase in low-cost housing, revoking of unnecessary restrictions and land policies to avoid delays in real estate construction as...

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12 May 2014

Rs. 130 Crore Investment for SEZ Development in Greater Noida

Ansal Properties and Infrastructure has put momentum to its plan of developing 75-acre, IT Special Economic Zone (SEZ) in Greater Noida, following the recent construction of Yamuna Expressway and NIIT. The project has an estimated budget of Rs. 130 Crore and is likely to culminate over the next 3 years....

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29 April 2014

Godrej Properties Entering Noida Real Estate Market

Godrej Properties Pvt Ltd. is keen on entering the Noida real estate market and is looking for a partner to develop a housing project, according to a top official at the company. The real estate arm of the Godrej group is developing 3 premium housing projects in Gurgaon in joint...

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28 April 2014

Ghaziabad Development Authority Issues Notice to 30 Realty Firms

Ghaziabad Development Authority (GDA) has issued notices to over 30 Real Estate Firms. GDA has asked developers to submit a declaration in which they have to explain details of their projects, including plot size, number of floors and flats to be constructed, land title, facilities to be offered, etc. The authority...

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24 April 2014

Greater Noida Authority To Hike Water Tariffs By 10%

Starting April 1st, Greater Noida Authority will charge an additional 10% on water bills. The Authority had announced that the 10% hike will be implemented annually. The delay in the announcement was due to Lok Sabha Elections. The rates have been revised for all categories of properties such as group...

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24 April 2014

GDA To Share Realty Details Online

Looking at an increasing number of cheating cases against developers, the Ghaziabad Development Authority (GDA) has decided to inform the investors by uploading details about errant builders on their website. The website will also provide information about sealed properties and layout plans cancelled by the authorities. Home buyers will also...

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23 April 2014

Commuters To Get More Delhi-Only Metros

Due to increase of commuters traveling from Delhi to NCR on a regular basis, the Delhi government has ordered every alternative train on the NCR route to be dedicated exclusively for Delhi passengers. The order serves only to the new extensions coming up on existing lines. The order is approved...

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23 April 2014

Demolition Starts At Asola…

The forest department set out for demolition drive at south Delhi’s Asola Bhatti wildlife sanctuary on Monday. The campaign, first of its kind happened while the top three functionaries of the forest department-the secretary, additional principal chief conservator of forests and chief wildlife warden-appeared before the National Green Tribunal (NGT)...

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21 April 2014

The Supertech Flat Owners Move to Supreme Court Against High Court Judgement

Buyers of apartments in Supertech’s two 40-storeyed tower will move the Supreme Court against Allahabad High Court order to demolish the buildings as they want flats not refund. “Since we were not a part of this (high court) judgement, we have decided to move the Supreme Court to get justice,”...

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18 April 2014

Mumbai Gets Its First Double-Decker Flyover

On Friday morning, Mumbaikars got a pleasant surprise. The 3.45 km Santa Cruz – Chembur Link Road (SCLR) was finally opened for the general public. As official functions were not allowed due to code of conduct for the Lok Sabha Elections, the flyover had a simple opening ceremony. The Rs...

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18 April 2014

Noida Celebrates Foundation Day

On Thursday, Noida celebrated its 39th Foundation Day. The authority employees celebrated the foundation day by performing havan ceremony and organizing a sports meet at the Noida Stadium. Noida Authority Chairman Mr Rama Raman performed the havan at the Authority office. Before that, he inaugurated the sports meet. The New...

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17 April 2014

Supertech’s Twin Towers Sealed by Noida Authority

Homebuyers suffered a major blow on this Tuesday when Supertech called a press conference and delayed the buyer’s demands for a refund and the concerned authorities sealed the project site. The press conference was expected to deliver some insight about the company’s strategy in course of Allahabad High Court’s stay...

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15 April 2014

Supertech’s Emerald Court Flat Buyers want Apartments and not a Refund!

Home buyers of Apex and Ceyane towers in the Emerald Court residential project have decided to move Supreme Court and reclaim their flats instead of receiving a refund of their payments from the developer. In a meeting with the developer’s representative on Sunday morning, buyers pointed out that most of...

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12 April 2014

The Two Towers —Apex and Ceyane of Emerald Court by Supertech Builders has been given orders to be Razed !

The two 40-storeyed residential towers of Supertech’s Emerald Court in Noida’s upscale Sector 93A, has been asked to be razed by the high court of Allahabad for flouting building norms, a ruling that sent shock waves across the booming real estate market in the National Capital Region. The two towers...

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12 April 2014

Retail Space Rates in Noida has gone up by 50% in the last 2 years

The market rate of Retail Space has gone up almost by 50% in the last 2 years in Noida. With the advent and gradual growth of the mall culture in Delhi NCR, the price to own a space in the most visited malls has gone up manifolds in the last few...

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07 April 2014

5-Hour Power Cuts Hits Gurgaon…

As the mercury is rising with the onset of summer, citizens of Gurgaon are facing the problem of long hours of power cuts. Without any notification from the authorities, the residents are facing 5-hour power cuts and it is becoming a routine affair. Citizens also fear that the problem may...

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04 April 2014

16-Lane Expressway Project Work in Gurgaon to Start Soon

Finally, the project work of the under-construction 16-lane expressway from Delhi-to Gurgaon border (Sector-55-56) will resume soon. The matter seems to have been resolved with the National Green Tribunal (NGT) and the approval has been sought out. Earlier the residents of the National Media Centre approached NGT for the suspension...

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02 April 2014

Mandi House-Central Secretariat Metro Line Misses Deadline

The Central Secretariat-Mandi House underground stretch-part of Kashmere Gate corridor-has missed its March deadline to become operational. This stretch may well take another two weeks to become operational, says DMRC officials. The commencement of operation of this three kilometer stretch has to be approved by Commissioner of Metro Rail-RK Kardam...

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02 April 2014

Blackstone (World’s Largest Property Investor) Buys IT/SEZ Land in Gurgaon

The world’s largest property investor, Blackstone, has agreed to buy out a 3.6-million-sqft IT SEZ land in Gurgaon, partly owned by Unitech, for 2,600 crore. The deal, one of the biggest involving a private equity (PE) firm in the country’s real estate sector, will bring cheer to a property market...

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31 March 2014

Affordability is the Single Most Factor Driving Investors to Yamuna Expressway…

Though infrastructure, connectivity and amenities are still remaining under developed at Yamuna Expressway, investors are thinking about their plans to invest in the area. Affordability is the single most driving factor that pulls prospective investors here. The current price in the area are Rs 2500-3100 per sq ft, which means...

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29 March 2014

Water Woes to Begin Again…

Despite having more per capita water than cities like Bonn and Amsterdam, Delhi is all set witness water woes yet again as the summer season sets in ! The hapless people of the capital and the NCR will once again face water shortages and the tanker mafia. According to official estimates,...

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27 March 2014

L & T Wins Housing Contracts Worth Rs 1, 981 Crore

Infrastructure giant L & T (Larsen & Toubro) has won contracts worth Rs 1, 981 crores in the housing sector in different cities, this month. Some of the project work involves development of 24 towers and 271 villas. The towers will be 18 to 29 floors and have two basements...

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27 March 2014

Delhi Metro Reaches Dashrathpuri…

The otherwise stable real estate market of Dashrathpuri has got a sudden push, thanks to the upcoming Metro project in Dashrathpuri. Local realtors inform that in the last six months there has been a 10 per cent rise in prices of residential plots and flats in Dashrathpuri, New Delhi. They...

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25 March 2014

Demand for Office Space to Increase by 7% in 2014

Good news for realtors. According to the observations made by global real estate consultant DTZ, the demand for office space is likely to increase by 7% in 2014 to 29 million sqft. The cities which are going to see this positive growth are Delhi-NCR, Mumbai, Bengaluru, Pune, Chennai, Hyderabad and...

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25 March 2014

Tata Steel Land Fetches Rs 1, 155 Crores…

A 25 acre land parcel owned by business giant Tata Steel in Borivali suburb of Mumbai has fetched Rs 1,155 crores in an e-auction concluded on Monday. The bid started from Rs 750 crores. To acquire the property, major names in the realty market were present. Realtors like Oberoi Realty,...

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22 March 2014

1200 Families Move into Paras Tierea @ Sector 137, Noida

Getting possession of your own house is always a memorable moment which one remembers for a lifetime! Such a memorable moment for 1200 families has come… Paras Tierea is giving possession of its first phase wherein these families would be happily moving into their abode… The next few towers are...

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21 March 2014

Tata Group Plans to Spend $8 Billion on Infrastructure Development in the Country

Cyrus Mistry, Chairman of Tata Group is planning to spend at least $8 billion on infrastructure development like building roads, housing and airports in the country. Companies like Tata Housing Development, Tata Project and Tata Realty and Infrastructure Ltd (TRIL) are the names which are aiming to triple their orders...

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19 March 2014

10 Major Roads To Be Declared ‘Red Zones’ In Gurgaon

Good news for Gurgaon residents, the municipal corporation and the traffic police have jointly come up with a plan to ease the traffic congestion in Gurgaon. They have plans to declare over 10 arterial roads as ‘red zones’, where parking of vehicles will not be allowed. The authorities have already...

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19 March 2014

Hayat Investment Enters Indian Real Estate Business

Kuwait-based investment company Hayat Invest as part of foraying into the domestic real estate business announced its first residential project  to come up near Chennai city, under its joint venture Indian partner XS Real Group. “Hayat Investment company would invest about $ 100 million in next couple of years. For...

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13 March 2014

Dr. Homi J Bhabha’s Mumbai Bungalow Goes Under Hammer

The bungalow where Dr. Homi J Bhabha, father of India’s atomic energy programme lived for years, has now been formally put on block. The reserve price for the property, which had been home to the illustrious Bhabha family including Dr. Homi Bhabha and Dr. Jamshed Bhabha, is set at Rs...

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13 March 2014

Election Schedule Hits Realty Firms

Real estate developers say they are facing cost escalation on several residential projects across cities as officials are holding back routine approvals citing the election code of conduct. In Gurgaon and Faridabad, which come under the National Capital Region (NCR), nearly 50 residential projects of developers such as Supertech and...

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25 February 2014

Cost of Jaipur – Delhi Expressway to rise by Rs 32, 810 crore

Due to the new Land Acquisition Law which came into force from January 2014, the cost of land required for the Delhi – Jaipur  Expressway has gone up. The new law has increased the amount of compensation provided to the landowners. Earlier the estimated cost of this 272-km expressway was...

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24 February 2014

CP is world’s eighth most expensive office location

Slipping from Rank 4, Connaught Place (CP) has become the world’s 8th most expensive office location witnessing rentals at Rs 414 per sqft per month. The space rentals in CP were stable because of the limited activities in the location. The location is a favorable zone for banking, trade, consulting,...

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24 February 2014

Buy Your home before March 2014

People who are planning to buy their first home should hurry and complete their formalities by March 31st, 2014 to get additional tax benefits against the interest paid on a home loan. It is because the exemption offered to the tax payer will lapse in the current financial year which...

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29 January 2014

Gaursons to invest Rs 5,000 crore over 4 years

Realty firm Gaursons will invest Rs 5,000 crore over four years to develop a township on the 300 acres it bought from the Jaypee group along the Yamuna Expressway in Greater Noida. The Ghaziabad-based company bought this land from the group for Rs 1,700 crore in May 2013. The land is close to the Jaypee Group’s F1 track. Announcing...

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