Waking up to the dangers of illegal structures, particularly after the building collapse at Nanakramguda that killed 11 people in December, the municipal administration department has decided to amend laws to make it tougher for people to register properties. The new law will ensure a builder or developer cannot sell flats or plots to people… Read More »
The Centre has warned states of a serious situation of vacuum arising if necessary institutional mechanisms for the real estate regulatory Act were not put in place before the deadline of May 1 this year. In a two-page letter to all the chief ministers of states on February 9, minister of housing & urban poverty… Read More »
Mumbai office sale registrations contracted on a quarterly basis since the beginning of 2016 to the lowest in the last quarter. The registrations dipped to nearly 1/3rd of the Q1 levels in Q4 – the quarter of demonetization. Both no. of registrations and transaction volume dipped by 55-60% in Year-on-Year (Y-o-Y) comparisons for Q4 ’16. Even… Read More »
Real estate companies, both residential and commercial, expect the sector to grow significantly after the Real Estate (Regulation and Development) Act (RERA) takes effect. Under the Act, the sector is expected to become more organised, making it attractive for foreign investors to come in. For one, the Act makes it mandatory for all projects to… Read More »
The Real Estate Regulatory Authority (RERA) will start functioning in Madhya Pradesh from May and property buyers can approach the authority to get their grievances addressed. RERA has been constituted in state and a final shape is being given before it starts taking up the grievances. Under the RERA, details of entire commercial and residential… Read More »
To better understand the effect of demonetisation it is necessary to segregate the real estate market into primary and secondary. Primary market will constitute of the new apartments and flats that are being constructed and sold by prominent real estate developers. Secondary market involves the resale of existing residential flats, land and commercial properties. Secondary markets… Read More »
To further intensify the crackdown on black money, Assocham has suggested the Centre to impress upon states to “drastically” lower stamp duty on residential and commercial property deals to dissuade people from undervaluing purchases. The industry body said that the biggest beneficiary of the move would be buyers of residential or commercial properties. “One of the… Read More »
The recently cleared real estate regulatory act (RERA) will bring in transparency in real estate transactions, reducing the number of litigations in the sector, according to a survey-based report by FICCI and Grant Thornton. Respondents of the survey ‘Real Estate Regulation Act, 2016 (RERA) – Are we ready?’ also felt that the new act will… Read More »
With an aim to make REITs more attractive to investors and real estate players, regulator Sebi on Monday proposed relaxed norms for related party transactions and allowed these Trusts to invest more in under-construction assets. Sebi also proposed removal of restrictions on REITs (Real Estate Investment Trusts) relating to investment in special purpose vehicle (SPV)… Read More »
Reforms in FDI policy and relaxation of norms in Real Estate Investment Trusts (REITs) will benefit the realty sector, especially the commercial segment, a property consultant today said. Earlier this week, the government unleashed a second wave of FDI reforms, allowing 100 per cent inflows in civil aviation and food processing sectors while easing norms in… Read More »
