Search Results: Government (1433)

Editorial Balvinder Kumar, Member, UP RERA in an interview with Ravi Sinha

Star Rating to be the game changer of real estate: Balvinder Kumar, Member, UP RERA

Balvinder Kumar, member of the UP RERA is no stranger to the functioning of the real estate and the government agencies. As a former bureaucrat, he has seen it as an insider with many key positions, including his stint with the high profile Delhi Development Authority (DDA). In an exclusive interview with Ravi Sinha, he shares his roadmap for making RERA an ideal platform for due diligence as well.  

Headlines Realistic Real Estate, Real Estate Realities, Realism in Real Estate, 2020 Best Year Ever, Slowdown Learning for Real Estate, Slowdown and Property Market

Is real estate realistic with resolution to make 2020 best year ever?

2020 hardly promises to be the #BestYearEver for the Indian real estate, simply because the sector has historically been arrogant to read the writing on the wall. They continue to live with their fancy illusion that this is just another cyclic slowdown. The raw statistics of ever increasing migration to the cities and the housing demand make them predict for self-belief that sooner than later the market will yet again turn out to be sellers’ market.

Headlines Resilience, Real Estate Resilience, Real Estate in 2019, Real Estate in 2020, Real Estate Forecast, Real Estate Slowdown, Real Estate Revival

Remarkable resilience of Indian real estate in 2019

According to the World Bank, India ranks at 63rd among 190 countries, and the ranking is anticipated to improve further in the coming years backed by progressive government policies. Meanwhile, the real estate sector has shown remarkable resilience despite the bearish phase of the economy. Below is a lowdown of how the real estate story unfolded in 2019:

Headlines Review of 2019, Real Estate in 2019, Property Market in 2019, Real Estate Forecast in 2020, Property Market Forecast in 2020, Indian Real Estate Analysis

Is Indian real estate ready to learn the lessons of 2019?

Beyond inventory statistics, and the customary positive outlook for the year ahead, 2019 has yet again underlined the need to read the pulse of the market dispassionately to learn why the tide has been going against. The lessons are equally true for both the builders and the buyers. Unfortunately, the sector does not seem to learn the lessons yet again. The testimony of the developers’ defiance is their guarded optimism for the year ahead, while dismissing the 2019 as yet another challenging year that has gone by.

Market Rating Noida Extension Property, Greater Noida West Property, Properties in Noida Extension, New Launches in Greater Noida West, Investment in Greater Noida West, Builder Buyer Conflict, Buyers Protest in Noida Extension, Project Delays in Noida Extension, Affordable Market of Delhi NCR, India Real Estate News, Indian Realty News, Real Estate News India, Indian Property Market News, Investment in Property

Why are Noida Extension buyers sulking?

Track2Realty has in its possession various exchanged mails between the buyers and the builders which not only defies any civilized business correspondence but is also in contravention with the law of the land.  In one such mail with a delayed project for more than three years, the builder has the audacity to put on record that they would refund only with some deductions, forget about delayed penalty. Incidentally, the builder has accepted unaccounted cash with the said buyer and hence the buyer knows the real fallout of the exit.

Market Rating Construction Dust and Real Estate, Pollution and Real Estate, Housing and Toxic Air, NGT Bans Construction

NCR property with health hazards of toxic air

Despite repeated attempts by Track2Realty, none of the developers with projects in the worst hit areas are ready to speak on camera. All of them are rather defiant that the construction ban is unfortunate disruptions and adversely affects the project timelines. The moot point nevertheless is can the builders in their collective consciousness shrug off the responsibility now? Do they wake up only when the NGT slaps the sector with construction ban? Can’t they switch to responsible urbanisation for future generations?These questions may not bother them but what they can’t afford to ignore is whether or not the housing sector in Delhi NCR would be paralysed if the city is not made worth breathing and worth living?” Unfortunately, there are more questions than what any of the stakeholders would like to answer with some honesty.

Headlines Real Estate Market Trends, Residential Real Estate Trends, Trends in Housing Market, Property Data Missing, Authentic Reports in Real Estate

Macro trends in residential may be misleading

First, residential project delay is not a pan-India phenomenon and only limited to major metropolitan cities of Delhi NCR and Mumbai in terms of quantum as well as value of projects. Second, the slowdown in completion of projects is not across the entire spectrum of housing categories but significantly visible in upper-mid and premium categories. What is needed is perhaps a push from the government and funding agencies along with a strict code of conduct among developers which will improve the situation. Going forward, developers should take cognizance of the situation at hand and accordingly realign their marketing strategies so that their launches are in sync with people’s affordability and demand.

Reports Real Estate Market Trends, Residential Sales in India, Office Space Absorption in India, Real Estate Slowdown, Real Estate Demand & Supply Dynamics

Residential sales modest, office segment shows strong absorption

After witnessing a revival of sorts in 2018 housing sales have witnessed a growth of 14% in the first nine months (January-September) of 2019 as compared to the corresponding period in 2018, according to India Real Estate Market Update Q3 2019, released by JLL . The office segment witnessed strong leasing, registering a jump of 40% during the same period as compared to the corresponding period in the previous year, the report added. 

Reports Student Housing in India, Student Housing Investment in India, Student Housing Potential in India, Student Housing Market in India

Student Housing to witness investments of over USD 700 million investment & an addition of 0.6 million beds by 2023

According to the report titled “The Herald of a New Chapter: Student Accommodation in India”, the Student Housing/Co-Living space is expected to witness an investment worth USD 700 million and an addition of 0.6 million beds by 2023 across the country. The Student Housing segment is witnessing rapid growth across all the major markets in the country and expected to witness a growth of 36 percent between 2019 to 2023. 

Headlines Real Estate Deals, Real Estate Discounts & Freebies, Real Estate Festive Offers, Festive Deals in Housing Market

The ‘real’ deal in festive season 2019

The festive season has traditionally been an active period for real estate sales as many buyers consider Navratri and Diwali an auspicious time to buy property. Like in previous years, developers this year have sweetened property deals – some up-front discounts, or more commonly 0% GST (which is in any case not charged on ready-to-move properties), waived stamp duty and registration charges, free reserved car parking, modular kitchens, etc.

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