Track2Realty Exclusive: The property rates and cost of living in the metros like Delhi, Mumbai and Bangalore have been soaring drastically over the years and owing to this, these cities have reached a kind of stagnation in terms of real estate and retail growth. This scenario has shifted the focus of investors as well as the customers towards the tier II & tier III cities.
Himachal Pradesh has spiked plans of over 60 builders and developers to sell flats and cottages in the hill state. The developers include DLF, Janta Land Promoter Ltd, Omaxe Construction Pvt Ltd, Optima Construction Pvt Ltd, Amar Nath Aggarwal Builders Pvt Ltd and Surya Builders, according to officials.
The Hinduja Group, with a global presence in core sectors such as oil and gas, automotive, power, IT, banking and finance, today announced a major foray into the real estate sector in India involving an investment of up to $15 billion.
The real estate sector in Punjab is likely to witness sluggishness in the run up to Assembly elections in the state next month.
Though a depreciating rupee has its fall out on all other economic activity, it is rather helping the Indian property market.
An increasing number of Indian nationals working in Singapore are investing in properties in India and other countries, like Malaysia, London, Australia, Thailand and Singapore, according to a local media report.
The Ernakulam Principal Sessions Court on Thursday rejected the anticipatory bail plea of promoters of a real estate company who have duped hundreds of people of more than Rs.1 billion.
Ahmedabad Municipal Corporation has added another feather to its realty cap, with the 47-metre tall Maninagar Medical College, adjacent to LG hospital, the second tallest building of the city coming up at the cost of Rs.45 crore.
While there is no cap on the number of properties for which an NRI can take home loans for, repayment capacity must always be factored in. Over-leveraging is never a good idea and regardless of what viewpoint a bank takes, NRIs must do their own repayment capacity calculations.
There is no restriction on the number of properties that NRIs can own in India. However, NRIs obviously need to make informed decisions on such acquisitions. The most important consideration is that of whether the property purchase is for their own or their family’s actual use, or as an investment for rental income and potential capital appreciation.