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 repo rate hike by the Reserve Bank of India (RBI) by 25 bps seems to have spoiled the festive spirit of the real estate sector.
Real estate industry body CREDAI on Saturday, September 3, opposed constitution of a regulatory body for the real estate sector, saying that it would become a “breeding ground for corruption” if implemented.
Reeling under high input costs and 40 per cent labour shortage, the realty sector in Gujarat is witnessing construction projects getting either delayed, cancelled or halted in progress.
With the US and European debt crisis affecting sentiments across the world, the Indian real estate sector is likely to see a gloomy phase in the next 12 months.
The Noida Extension has snowballed into controversy which could have been better avoided.
The ruling of Competition Commission of India (CCI) against the market leader DLF seems to have not only sparked a debate within the real sector, but has also united them.
The net profit in the June quarter is down for all major listed real estate companies is a matter of worry for the sector in general.
A prominent group in Singapore plans to act as a facilitator to bring in China’s savings into the Indian economy and other South Asian countries.
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.