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.
It has been quite some time that Mamata Banerjee took over the rein of West Bengal after 34 long years of Left Front rule.
A four day property exhibition by the Orissa chapter of the CREDAI, which concluded in Bhubaneswar today, has estimated property deals worth about Rs.150 crore.
Amidst apprehension of rate hike in Noida Extension after the Allahabad High Court ordered more compensation to the farmers, CREDAI said the builders in Noida Extension have decided not to pass on the extra cost to the existing buyers.
After the Allahabad high court cleared land acquisition in 60-odd villages, barring a few where no real estate activity was on, hope has begun floating for thousands of middle-class buyers.
Though the developers have hailed the Allahabad High Court’s judgment on Greater Noida land acquisition, they said existing flat buyers will be immune to higher compensations to farmers.
The real estate developers have taken the verdict of the Allahabad High Court, which has awarded a greater compensation to farmers of Gautam Budh Nagar but has not stopped acquisition anywhere barring three villages in their stride.
The much awaited and largely discussed Real Estate (Regulation & Redevelopment) Bill, pending since 2009, is finally been ready and the Government plans to introduce it in the winter session of Parliament after getting Cabinet approval.
Valuation of immovable properties owned under general power of attorney (GPA) might fall by about 20 percent as the Supreme Court has declared the sale of properties through this deed illegal, industry experts said Friday.
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”.