Developers want ‘force majeure’ in draft Realty Bill
Real estate developers have sought inclusion of “force majeure” provisions in the proposed real estate bill drafted by the Central Government.
Real estate developers have sought inclusion of “force majeure” provisions in the proposed real estate bill drafted by the Central Government.
Though a depreciating rupee has its fall out on all other economic activity, it is rather helping the Indian property market.
Seeking to address the concern of real estate developers over delay in getting approval of the projects, government today announced the setting up of an expert committee to suggest measures for a speedy clearance system.
Steady rise in the price of construction material, like cement, steel, bricks, coupled with a shortage of skilled labourers, has hit the realty sector in Gujarat, an office-bearer of state-CREDAI said.
Confederation of Real Estate Developers’ Associations of India (CREDAI)’s Kochi chapter is organising a two-day property expo, along with Times of India, starting tomorrow, Nov 18, at Regency Hall, Doha.
In a further blow to the dampened Diwali spirit of the realty sector, the RBI raised interest rates on today but said it was likely to hold off on further increases as it expects high inflation to ease beginning in December.
The real estate sector has expressed guarded optimism on Supreme Court ruling that terms as “illegal” any sale of immoveable property through power of attorney (POA) unless the case is “genuine”.
The Supreme Court judgment on Shahberi village in Noida Extension was the beginning of the end of the proposed township.
The Reserve Bank’s decision to raise key policy rates by 25 basis points today is likely to have a negative impact on the real estate sector.
The Bruhat Bangalore Mahanagara Palike has plans of filing a defamation suit against CREDAI, which levelled allegations that bribes are being demanded by corporators.