Track2Realty-Agencies: Investments in gold have yielded higher returns compared to those in equity and real estate in India during the last three years, according to a study.
Track2Realty Impact: When Track2Realty pan-India survey said it in May this year that Indians prefer to pay more for ready-to-move property and find new launches risky, the sector was obviously not amused. CREDAI President Lalit Kumar Jain had differed with the Track2Realty survey findings in an interview with Tehelka and said that “ready-to-move-in flats comes at a premium rate and the availability of such in the country is currently just 5 per cent.”
Track2Realty-Agencies: The Income Tax (I-T) department has raided on 45 premises of Indore-based 10 real estate firms on Saturday, Sep 22. A team of 300 officials conducted the operations and recovered Rs 2 crore in cash and sealed 15 lockers of nine realtors. The raids are expected to continue on Sunday as well.
Track2Realty: Real estate in Bihar with most of the cities termed as tier-II and III by many of the developers till late, has bucked all trends of slowdown to soar as one of the most promising real estate market. It is not just the new trend of apartments that is catching fancy of the prosperity that is noticeable in many of the urban areas, but even the land rates still continue to soar.
The Competition Commission of India (CCI) has closed the case against Taneja Developers and Infrastructure (TDI) related to allegations that the company was abusing its dominant position in the real estate segment in Mohali.
The real estate industry today expressed hope that a part of Rs 17,000-crore worth liquidity infused by RBI into the financial system would flow into the realty sector.
The Finance Ministry will meet chief executives of leading banks today, Sep 17, to discuss credit flow to the real estate and housing sectors. According to sources D K Mittal, Secretary of Financial Services, will chair the meeting of bankers, which will take stock of credit flow to the sensitive sectors.
Declining property sales coupled with stretched balance sheets is bound to remain a concern in the short-term, leading to a moderation in property prices in some markets, says a report by market research firm Knight Frank.
The Competition Commission of India (CCI) is reported to have zeroed in around 70 real estate developers around the country, including Unitech, Parsvnath Developers, and Omaxe for investigation against entering into one-sided agreements with buyers and for allegedly colluding with each other to arm-twist them.
India’s plan to buy a property to move its cultural centre in Colombo is in limbo, after New Delhi lost out to a Chinese state-owned company in the race to buy a prime plot in the Sri Lankan capital – allegedly due to delay by the island nation’s government in issuing necessary clearances.