Confederation of Real Estate Developers’ Association of India (CREDAI), Tamil Nadu has blamed the two state government agencies of holding up residential and commercial projects worth Rs.7,500 crore by delaying approvals.
Despite strong growth potential for real estate in Tamil Nadu, the price per square foot is set to rise in the next two three months as the industry is reeling under a crisis.
Call it flavor of the season or overt holier-than-thou or just plain Anna Hazare effect, major real estate developers of Punjab have announced not to pay bribes to government officials in future for getting their projects approved.
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.
CREDAI (Confederation of Real Estate Developers’ Associations of India) Pune is organising ‘e-Profest’, a virtual realty expo.
Confederation of Real Estate Developers Association of India on Wednesday, August 10, said the property prices would surge if the draft Land Acquisition Bill proposed by the Rural Development Ministry came into force.
As India’s realty sector goes through a liquidity crunch with banks tightening lending norms and property sales dropping, real estate developers are turning to alternative channels of funds.
India’s real estate sector will be among the worst hit by the Reserve Bank of India’s decision to raise key interest rates, experts have said.
After farmers complaining about shortage of labour due to NREGA, now CREDAI says real estate projects are experiencing time and cost over runs due to shortage of labour.
The National Association of Realtors, India (NAR-India) on Saturday, July 23, signed a bilateral agreement with CREDAI to make property purchases more transparent for buyers across the country.